2/10/99, STEVEN SPIELBERG, DEMONSTATORS, PEOPLE CARRYING CASKETS, NX BUILDING FIRE, RESCUE EFFORTS, CLINTON-IMPEACHMENT; DX helicopter flying in between bldgs. carrying a rescue basket, helicopter's tail propeller smashes into bldg.; DX helicopter goes out of control, cameraman runs to capture the fallen helicopter in flames, (Reuters bug on top corner); DX firefighters w/ water hose putting out the helicopter fire, firemen cover the bodies, various of the aftermath; INDONESIA AUSTRALIA: RELEASE protestors, the press surrounding a vehicle, man escorted into a bldg., reporters are everywhere ; INT press conference, man led away, people hold CNRT flag, young man holding hand up in a fist-power, young man hugs his mother; DX photographer, young man shows a tatoo on his chest, FRANCE/AVALANCHE DEATHS: pan village covered in snow, avalanche destruction; DX rescue team gathered, machine at work, clearing the snow, talking head, ambulance type vehicle arrives, skiers; SYRIA, REFERENDUM-ASSAD: h/s over Syria, street scenes, var. of people voting, people dancing, all ages, outdoor festival; DX troops/soldiers dancing out in the streets, celebration, demonstrators chanting, men greet each other/kiss & shake hands; GERMANY/SPIELBERG-HOLOCAUST: Steven Spielberg arrives at press conference, talks about 'Partners in Tolerance'; INT people watching 'survivors-testinomies of the holocaust' with Spielberg talking about it; YUGOSLAVIA/BODIES RETURN: men carrying caskets and loading them onto trucks, crowded street with trucks arriving; DX woman crying, caskets being unloaded and lined up inside a bldg., FRANCE/YUGO: KOSOVO ext. castle type bldg.; DX people carrying caskets along snow covered streets, pan rows of coffins with Yugoslavian flags, outdoor funeral service; DX bodies being buried, talking head, press conference re: Albania/Kosovo, IRAN/ANNIVERSARY: crowds marching on the streets; DX h/s massive crowds marching in celebration, people gathered, chanting, w/ banners, flags, etc...; RUSSIA BLAZE: nx building on fire, smoke billowing out of windows, firefighters at work, trapped people at windows; NX people climbing down ladders, rescue efforts, burnt & dead victims, group of men struggling to lift/move car away ; NX 5 story building on fire, p-int to windows w/raging flames, firemen fighting the fire, cu window with the inside burning; NX ashes/debris falling, DX view of fire aftermath, firefighters still at scene, watering down the place; USA/IMPEACHMENT: ext. side angle of the capitol bldg., int. congress, US senate, talking head, senate doors closed; GERMANY/SPIELBERG: zoo palast ext., crowd outside of theater, Spielberg arriving, scenes from 'The Last Days'-holocaust stories; INT Spielberg talking, b/w Hitler, b/w & color scenes from 'The last days'; GERMANY/WORKERS: demonstrators marching down street; DX c/u beating drums, talking heads, spectators applauding, UK/BETTING ROW: truck arrives, photographers taking pictures; DX stadium ext./entrance, Charlton Athletic stadium, pan empty field & grandstands, ext. storefront, goals coreboard; USA/ACQUITTAL: senate, clerk reading the first article of impeachment, clerk calling the roll, 'pres. not guilty as charged': INT 2nd article-pres. not guilty & acquitted of the charges, talking heads, USA/TRIPP: Linda Tripp speaking to the press; INT Linda Tripp talking, (nbc news today bug), Bill Clinton hugs Monica Lewinsky, Lewinski escorted out of bldg.; DX Linda Tripp outside of house, encounters reporter, JAPAN/IOC SCANDAL: DX japanese crowds, int. banquet w/businessmen; DX Japanese street festival/parade,ext. office bldg., Japanese press conference, photographers; BRAZIL/CARNIVALE: ext. Brazilian stock exchange, men screaming at each other, int. stock exchange, men in locker rooms; INT men wearing masks, people in outdoor celebration, girls dancing, showing lots of legs, USA/BURNING TANKER: tanker explodes; DUSK p-in to burning tanker's raging flames, billowing black smoke, var., aerial tanker/ship in ocean burning; FRANCE/KOSOVO: Serbian flag, demonstrators gathered, man talking on megaphone, demonstrators w/ banners/signs; DX little boy salutes, press conference, reporters taking notes ;

NOTES: COL KINE LOCATION: TEXAS, USA TITLE: STOX CRASH (KINE) SERVICED DATE: 06/06/78 NO: 93785 DATE SHOT: 06/05/78 LENGTH: 29 FT SECONDS: 46 SEX SOUND: MUTE DATE OF ARRIVAL: FILM SHOWS: CARS TO START, START, CARS ROUND BEND AT SPEED, SIX CARS CRASH, FIRE AND SMOKE, VIEW OF DAMAGED CAR, REPLAY OF CRASH. LEAD IN: TWO DRIVERS ESCAPED SERIOUS INJURY IN A SPECTACULAR SIX CAR PILE-UP AT MONDAY 5 JUNE'S TEXAS 500 CAR RACE AT COLLEGE STATION, TEXAS, USA. THE RACE WAS WON BY GARY BOWSHER. FEET R/SECS 2 3 LS CARS TO START 5 8 LS STARTER WAVES FLAG 9 14 LS CARS AROUND BEND 20 32 LS CRASH, FIRE & SMOKE 22 46 CU CRASHED CAR 29 46 LS ACTION REPLAY OF CRASH COMMENTARY: THE RACE WAS SCHEDULED TO BE A REMATCH BETWEEN RACING VETERANS BOBBY ALLISON AND AJ FOYT WHO STARTED SIDE BY SIDE, HAVING DUELLED ON THE STOX CIRCUIT BEFORE THIS YEAR. ALMOST IMMEDIATELY, ACTION OF ANOTHER SORT BEGAN IN EARNEST. ON LAP 8 A SPECTACULAR SIX CAR CRASH SENT TWO DRIVERS RICKY OTTS AND KEN ROWLEY OUT OF THE RACE AND TO A LOCAL HOSPITAL. THE TWO WHO NARROWLY ESCAPED THEIR COLLIDING AND EXPLODING STOCK CARS ALSO ESCAPED SERIOUS INJURY, SUFFERING JUST MINOR BURNS. THE CRASH OCCURRED WHEN SEVERAL CARS SPUN IN TURNS THREE AND FOUR AND WHEN OTTS AND ROWLEY COLLIDED NOSE TO TAIL.

TOWN

NEWSFEED OCTOBER 6-7, 1998 KOSOVO: international flag on pole in wind, roundtable of UN (?) meeting, talking heads, WS UN building, people vote; talking head, pans of var UN documents, Clinton sits in crowded press conference, VARshots of shanty town in Kosovo; Yeltsin shakes hands with Jonathan Katz (?), sit at grand table and talk, WS funky looking vast, round UN conference room; talking head (William Daniels?), woman walks into mental ward, CU nurse count spills, long line of people wait for medicine; CU gaunt looking old man, aerial shot of battleship at sea, planes taxis on ship with skull/crossbones (jolly roger) on tail; missiles loaded onto plane, pan shot of battleship control room, radar screen, crewman signals to plane for take off; sidewinder missiles attached to jet, jets takes off, fly in tandem, MIDEAST: Madeline Albright arrives among crowd, waves; Netanyahu gets out of limo, then Arafat, they shake hands at dinner, they all speak, WS Middle Eastern village, dig holes; DAY OF PROTEST: WS of Russian protest on snowy day, group of police approach camera, military trucks on snowy street, riot gear ;talking heads, t/u statue of Stalin(?), VAR WS of protesters with snow covered banners, police hold protesters back; MS cathedral-like building, Yeltsin and Dr. Katz again, protesters hold picture of Stalin, mob begins to get violent; WS thousands of protesters in square, GREENSPAN: Alan Greenspan speaks to assembly for quite some time, junior; BLAIR/DISSIDENT: Tony Blair shakes hands w/ Chinese man, cameras flash, they enter building, press conference, Blair speech; OTS of chinese man on computer, CU of screen (Human Rights in China web page), CU hand on mouse, Chinese web page; Chinese man speaks to camera from chair, KOSOVO CRISIS: WS mansion thru trees, American flag blows on pole in wind; men chat behind security fence, cars pull out thru gate, Slobodan Milosovic, young boy waves to passing traffic ; pan down official Yugoslav building, CU Yugoslav emblem, talking head, small camp of immigrants, woman washes clothes; men unload sacks of food, talking head (Richard Burton?), pan of storage area, military jet prepares to take ofF; jet takes off, VAR in flight, KOSOVA TALKS: NX Passenger jet coming to terminal, white car drives past camera; EST Royal Windsor Hotel, VAR talking heads, limp US flag, Madeline Albright speaks, Clinton speaks, passjet taxis; CLINTON: WS House of Representative podium, VAR talking heads, Clinton in press room, talking heads; IMF/BANK: WS IMF meeting, photographers, talking heads, WS reporters audience, DROWNINGS: drowned bodies on raft; people carry corpse away, search helicopter lowers to river, rescuers try to revive victim, dead bodies along beach; fat lady survivor in towels is lead away, NOBEL PRESSER: goofy smiling lady, pan of books on display, author is mobbed; DIPLOMACY: talking head, then gets in limo, smiling Clinton speaks, military jet is pulled by truck, VAR of same jet; military talking head, military radar dish, VAR missiles launchers, jet takes off under cover of the night; stealth bomber takes off, VAR in flight, small mountainside village, kids climb thru rubble, shots of town in rubble ; inside small ruined home, serb woman cooks on gross old stove with gross old pots and pans, makes a hell of a torte i bet; young boy looks over countryside sadly, KOSOVO: protesters with flags, protest signs in Russian, man on microphone; building emblem (Bundesrepublik Deutschland), man and dog enter thru security gate, more protester shots; official looking meeting room, talking heads, Yeltsin, CLASHES SHARON: mob of protesters crashes down street, violent ;riot police with guns get pelted with rocks, one takes aim, injured protester carried to ambulance ;riot police on street w/ burning car, WS hospital, Netanyahu speaks, is that Mel Torme?, LS of small Israeli village; tanks roll past, one with Jewish star, b/w photos of military men, MARKETS: Japanese Stock experts around round computer; CU stockboard, VAR shots of board of trade, stock board, people applaud at NYSE, bear and bull statue outside of NYSE; German stock board, German stock exchange, ITALY: Pan down from ceiling of Italian Parliament(?), VAR shots of people; ITALY: fashion show, skinny models in slinky slylish dresses, one judge has scornful look on her face (jealous); designer walks thru w/ boyfriend, more models, Naomi Campbell, model with disgustingly skinny legs........;

Universal Newsreel

NAME: DEN VIGIL 20091212I TAPE: EF09/1160 IN_TIME: 10:36:23:04 DURATION: 00:02:26:18 SOURCES: AP TELEVISION DATELINE: Copenhagen, 12 Dec 2009 RESTRICTIONS: SHOTLIST ++NIGHT SHOTS++ 1. Pan of candlelight vigil outside Bella Centre, venue for the Copenhagen climate conference 2. Mid of girls holding candles and posing for picture 3. Close of burning candle 4. SOUNDBITE (English) Mary Robinson, Former Irish President and Activist: "It is absolutely vital that we get the messages across to those who have a big responsibility. This is not an ordinary conference. It's not a conference like a trade conference. Trade conferences can fail. Sometimes it's better if they do fail. But this is a conference that mustn't fail because Leyal (indicates child standing next to her outside camera frame) has the right to a future." 5. Mid of people at vigil 6. Mid of stage, zoom in to Archbishop Desmond Tutu greeting crowd 7. Close of candle held by Tutu 8. SOUNDBITE (English) Archbishop Desmond Tutu: "For those who think that the rich are going to escape, ha ha, ha. We either swim or sink together. We have one world and we want to leave a beautiful world for all of these beautiful, wonderful young generation." 9. Wide of vigil, UPSOUND: crowd (English) "We the world expect a real deal." 10. Mid of Tutu shaking hands with people 11. SOUNDBITE (English) Archbishop Desmond Tutu: ++AUDIO AS INCOMING++ "It was people marching in that fashion who helped to bring down the Berlin Wall. It was people who marched in that fashion in Cape Town who helped to bring down the apartheid wall. And it'll be the same here. There's no question at all that politicians are going to sit up and take notice." 12. Mid of candles with musician playing in background 13. Close of candle STORYLINE Former Irish president Mary Robinson and Archbishop Desmond Tutu participated in a vigil on the sidelines of the United Nations climate conference in Copenhagen on Saturday. Addressing a crowd of youngsters holding candles, Robinson said it was "absolutely vital" to send a strong message to politicians and world leaders "who have a big responsibility" towards future generations. Referring to the tens of thousands of demonstrators who marched through Copenhagen on Saturday,Tutu said he was confident that politicians would listen to their appeal for "climate justice" and compared marchers to the people who brought down the Berlin Wall and apartheid. "It was people marching in that fashion who helped to bring down the Berlin Wall. It was people who marched in that fashion in Cape Town who helped to bring down the apartheid wall. And it'll be the same here. There's no question at all that politicians are going to sit up and take notice," Tutu said. Earlier on Saturday, tens of thousands of banner-waving protesters demanding "climate justice" marched toward the United Nations climate conference as industrial countries criticised a draft global warming pact for not making stronger demands on major developing countries. As night fell on the Danish capital, police said they rounded up more than 600 people in a preventive action against a group of youths dressed in black at the tail end of the mostly peaceful demonstration. A police officer received minor injuries when he was hit by a rock thrown from the group and one protester was injured by fireworks, police said. Initial reaction to the negotiating text submitted Friday underscored the split between the wealthy countries and countries still struggling to overcome poverty and catch up with the modern world. The tightly focused document was meant to lay out the crunch themes for environment ministers to wrestle with as they prepare for a summit of some 110 heads of state and government at the end of next week. Environment ministers started arriving in the Danish capital Saturday for informal talks before world leaders join the summit late next week. On the chilly streets outside, police assigned extra squads to watch protesters marching toward the suburban conference centre to demand that leaders act now to fight climate change. Police estimated their numbers at 25-thousand, while organisers said as many as 100-thousand had joined the march from central Copenhagen. Most of the demonstrators were peaceful but police detained 600-700 people in a preventive raid against a bloc of youth activists at the back of the procession, a police spokesman said. He said police moved in when the activists started throwing cobblestones through the windows of the former stock exchange and foreign ministry buildings and masking their faces. Earlier, police said they had detained 19 people, mainly for breaking Denmark's strict laws against carrying pocket knives or wearing masks during demonstrations. The draft distributed to the 192-nation conference set no firm figures on financing or on cutting greenhouse gas emissions. It said all countries together should reduce emissions by a range of 50 percent to 95 percent by 2050, and rich countries should cut emissions by 25 to 40 percent by 2020, in both cases using 1990 as the baseline year. The draft continues the system for industrial countries set up in the 1997 Kyoto Protocol by which they are legally bound to targets for emission reductions and face penalties if they fall short. It makes no similar requirements of developing countries like China and India, which have pledged to reduce the growth rate of emissions but reject the notion of turning those voluntary pledges into legal commitments. The draft also left open the form of the agreement - whether it will be a legal document or a political declaration.

MUSICAL COMEDY. BRITISH FILM. AMBROSE, EVELYN DAHL, HARRY RICHMAN, FLORENCE DESMOND, LES CAREW, MAUREEN FITZSIMMONS. MAUREEN O'HARA, FRANCES DAY, AMBROSE'S ORCHESTRA. MUSICAL COMEDY. HAL THOMPSON. DALL IS A YOUNG LADY, CABARET SINGER WHO, WITH A MILLIONAIRE'S HELP, IS ABOUT TO HIT THE BIG TIME. DESMOND. COMEDIENNE IS THE GOLD DIGGER OUT TO STOP THE YOUNGSTER. HOTEL RITZ PORCHESTER EXTERIOR. RICH FOLK GET OUT OF LIMO TO GET INTO CLUB. BEGGAR MEN GO IN REVOLVING DOOR. HILLBILLY TRUCK. BAND IN BACK OF TRUCK. PERFORM ON STREET OUTSIDE HOTEL. WACKY MEN PULL UP IN LITTLE CAR. HOBOS. WOMAN WHISTLES WITH FINGERS IN HER MOUTH. COUPLES DANCE. MAN WEARS FAKE NOSE AND MUSTACHE. RICH PEOPLE DRESSED LIKE BUMS. COSTUME PARTY. PEOPLE BAD-MOUTH MAN NOT KNOWING THAT HE IS STANDING THERE. SAYING BAD THINGS ABOUT HIS FUTURE WIFE. SAYS SHE IS A GOLD DIGGER. ONLY GOING TO MARRY HIM FOR HIS MONEY. GETS TELEGRAM. SAYS HE IS BROKE. MAKES ANNOUNCEMENT. RIPS UP PAPER. MAN PIECES TELEGRAM BACK TOGETHER. FIANCEE BREAKS UP WITH HIM. SOUND BYTE, WISE GUY. MAN SINGS AND DANCES. SONG & DANCE MAN. "MAYFAIR MERRY-GO-ROUND". MAN RANTS AND RAVES ON A SOAP BOX. SOUND BYTE, LOCK STOCK AND BARREL. TALKING POLITICS. A FOGGY, LONDON NIGHT. POOR BUT DECENT FOLKS. SOUND BYTE, WHO ME? ENGLISH COP. SINGS WITH ACCORDION. HANDS OUT FLYERS. UNHAPPY WOMAN. RIPS UP PAPER. POLICE ARREST MAN. HEAR A WOMAN SCREAM. EVERYBODY TURNS. MEN GET AWAY. CU TWO GLASSES OF MILK. OLD MAN POURS SOME ALCOHOL IN FROM FLASK. IN SODA SHOP. WOMAN LOOKS FOR MAN. SHE REPRIMANDS OLD MAN. HIS NIECE. THREE PEOPLE DRINK AT THE SAME TIME. MAN SLEEPS ON WOMAN'S COUCH. MAN LEANS ON CAR HORN. IT GETS STUCK. WINDSHIELD WIPERS GO. CAR BACKS OUT OF BARN DOOR. BREAKS DOOR. CU SPEAKER IN HUGE RECORD STORE. CU 78RPM RECORD ON RECORD PLAYER. WOMAN SINGS IN BOOTH. RECORDING RECORD, "NO SONGS ABOUT LOVE". RHUMBA BEAT. MAN LISTENS IN AWE. REHEARSING MUSICAL NUMBER. MAN SINGS. SIGNS AUTOGRAPHS FOR GIRLS. "YOU'RE WHAT'S THE MATTER WITH ME". MEN PAINTING, NOT PAYING ATTENTION AND PAINTS MAN'S FACE BY ACCIDENT. WORKMEN BURN THEIR FINGERS. WORKMAN DISTRACTED. SAWS CHAIR IN HALF. IN AWE. SNOTTY WOMAN. MAN HITS TRIANGLE. SINGS SILLY SONG. WOMAN EAVESDROPS. WOMAN PISSED. ANGRY WOMAN. SLY SMILE. DEPARTMENT STORE. SOUND BYTE, AT LAST WE ARE ALONE. GANGSTER LOOKING MEN. COVER THEIR EARS. OLD WOMAN IS TERRIBLE SINGER. ACTS SILLY. TRIES TO SABOTAGE WOMAN'S CAREER. MISTAKEN IDENTITY. YELLS ON PHONE. RECORDING STUDIO SIGN. WOMAN ARRIVES AT RECORDING STUDIO. DECO STUDIO. STICKS WOMAN IN FRONT OF MICROPHONE. MAKING RECORDING. MAN'S HAND TAPPING. ACCIDENTALLY PUSHES SWITCH SO THAT THE RECORDING GOES TOO FAST. SMOKING CIGARETTE. MAN DOESN'T HAVE TIME TO LISTEN TO PLAYBACK. AIRPLANE, PROPELLERS. BAND INSIDE PLANE. MEN CHEER. RECORD ON RECORD PLAYER. "QUIET". MEN TEASE MAN. BREAK RECORD. KEEPS HAVING MISHAPS. CAN'T PROVE THAT GIRL HAS A GOOD VOICE. CAR AT NIGHT DRIVES THROUGH BIG PUDDLE. BI-PLANE. PLANE CLIMBS HIGH. MEN FALLING ALL OVER PLANE. PLANE LANDS AT NIGHT. MEN GET OUT OF AIRPLANE. ORCHESTRA PLAYS OUT IN THE MIDDLE OF FIELD. MARQUEE AMBROSE. SETTING UP RESTAURANT. WOMAN VERY ANGRY. SMASHES UP DISHES. KEEPS YELLING HELLO INTO PHONE. WOMAN DOES IMITATION OF KATHERINE HEPBURN. FOOLING WOMAN INTO THINKING THAT SHE IS TALKING TO HOLLYWOOD PRODUCER. ASKS IF HE WANTS HER TO DIE. COUGHS. SHE REALIZES THAT HE IS TRICKING HER. WOMAN ABOUT TO KILL MAN. SOUND BYTE. "YOU CAN GET OUT AND YOU CAN STAY OUT". WOMAN MODELS HER BEAUTIFUL GOWN. MAN IN WHITE TIE & TAILS TUXEDO. ROMANTIC KISS. BAND PLAYS "NIGHT RIDE". MAN LAYS ON CHAISE CRYING. GIRL COMFORTS. AUDIENCE APPLAUSE. DANCING CHORUS GIRLS. WOMAN GIVES GIRL ALCOHOL. AMBROSE CONDUCTING. GRABS WOMAN. GIGGLES. LAUGHS AT MICROPHONE. DRUNK. SHE SINGS TOO FAST. MEN LOOK SHOCKED. MAN PUNCHES OUT ANOTHER MAN BY ACCIDENT. GETS CARRIED AWAY. DANCING GIRLS. SHE IS ANGRY. DOORMAN WON'T LET MAN IN UNLESS HE IS A MEMBER. MAN DRINKS FROM CHAMPAGNE BOTTLE. AUDIENCE LAUGHS. "NINCOMPOOP". CRAZY MAN. MEN PUSH EACH OTHER AROUND. I WANT JUSTICE. WOMAN THROWS PURSE. HITS COP. ENTIRE CLUB IN COURT BEFORE JUDGE. MAN INSULTS MAN'S ENGLISH. SAYS HE SHOULD LEARN THE KING'S ENGLISH. ITALIAN IMMIGRANT. EVERYBODY TALKS AT THE SAME TIME. SILENCE. COURTROOM LAUGHS. WOMAN IN A WHITE FUR. MAN SIGHS. COURTROOM HAPPY WITH SONG. BOY SCOUT SALUTE. SOUND BYTE, "CASE DISMISSED".

NVS0174 Subject: World War II (WW II) Tape #3 Source: BMT 05:00:00 BMT ISSUE 696A (10/8/42) CAPTURE OF THE SOLOMONS MS MERCHANT SHIP AT SEA. SHOT OF SHIPS PLOUGHING THEIR WAY THROUGH VERY HEAVY SEAS, THIS CAUSING A MIST. CU OF SHELLS GOING INTO BREECH OF GUN. BIG GUNS OF CRUISER FIRING BROADSIDE. LS GUNS FIRING. AA GUNS & POM-POMS FIRING. SMALL CRAFT OFF ISLAND LS NOT VERY CLEAR. AUSTRALIAN CRUISER WHICH HAS BEEN HIT STILL FIRING HER GUNS LS. SHOT OF SEA, WITH A PLANE HIGH UP IN THE SKIES. DESTROYER JUST OFF SHORE. GENERAL VIEW OF ISLAND SHOWING DAMAGED CAMPS. MANY JAPS LYING ABOUT DEAD. CU HEAP OF DEAD JAPS. AERIAL SHOT OF AERODROME WHICH MARINES HAVE CAPTURED. JAP PRISONERS LINED UP, BARBED WIRE IN FOREGROUND. PAN SHOT OF CAPTURED EQUIPMENT. LS SHOWING ISLAND WITH SMOKE STILL RISING CAUSED THROUGH DAMAGE INFLICTED BY THE MARINES. DITTO SHOT FROM BEACH. 05:02:28 BMT ISSUE 706 (12/14/42) RUSSIA STRIKES BACK RUSSIAN SNIPER AND ARTILLERY BARRAGE (PARTIALLY DUBBED WITHOUT THIS SCENE ON WW II TAPE 2). 05:04:02 BMT GOOD HITLER IMAGES (BROWN SHIRTED), RANTING. 05:04:32 BMT ISSUE 701 (11/9/42) ROMMEL ABOUT FACE THE NEWS THAT GENERAL MONTGOMERY HAD WON THE FIRST ROUND AND THE EIGHTH ARMY HAD SMASHED ITS WAY THROUGH WAS AN INSPIRATION TO THOSE AT HOME. ALEXANDER TALKING OVER MAP WITH OFFICERS ALSO ROMMEL TALKING TO HIS OFFICERS. TANKS GOING FORWARD WITH EXPLOSIONS ALL AROUND THEM, PAN SHOT OF TANKS. PLANES IN FORMATION, ARMOURED LORRIES ADVANCING, BREN CARRIERS. MOTOR LOADS OF GERMAN TROOPS (PRISONERS). HITLER. ROYAL NAVY TORPEDO AN AXIS SHIP. CAPTURED GERMAN GUNS AND TANKS. PRISONERS AND OTHER BOOTY. OUR TROOPS PASSING GERMAN DEAD AND BURNING WRECKAGE. 05:06:55 BMT ISSUE 711A (1/21/43) AXIS PLANS GO WRONG (PARTIAL DUB) ROMMEL & KESSELRING IN DESERT, CU OF BOTH; ROMMEL AT GERMAN HQ BERLIN ENTERS ROOM WITH GOEBBELS, VARIOUS SHOTS OF SAME. CU ROMMEL; HITLER PRESENTING ROMMEL WITH AWARD. MAP. MONTY GETS OUT OF CAR & WALKS TO CU. AERIAL SCENES OF CAUCASIAN MOUNTAINS, AERIAL SHOT OF GERMAN ALPINE TROOPS AT BASE OF MOUNTAIN, ON THE MARCH. SOLDIERS WITH PACK HORSES CLIMBING MOUNTAIN. SMALL ARTILLERY ON MOUNTAIN FIRING. THE MOUNTAINS BEING SNOW COVERED. JERRIES THROUGH FOREST CARRY RAFT CROSS RIVER KABAN. SHOTS OF SOLDIERS MARCHING, VARIOUS EXPLOSIONS AROUND. RAFT CROSSES RIVER AMID MACHINE GUN FIRE. LS OF ARTILLERY EXPLOSIONS, CU BREECH SHELLS HANDED UP, DIRECT HITS ON TWO RUSSIAN TANKS. ADVANCE ON INFANTRY, CU TANK, & OTHERS ADVANCING.JU88B IN FLIGHT, MS OF HEINKEL DROPPING BOMBS & MASSES OF INCENDIARIES. AERIAL SHOTS OF DIRECT HITS ON ROADS, RAILWAYS, ETC. VERY GOOD. TRACERS COMING UP AT PLANES, ALSO VERY GOOD. SEVERAL SHOTS OF FIRES, LS STALINGRAD, AS IN GR ISSUE 709. FINISHES UP WITH TANKS ADVANCING. (GOOD DOG FIGHT, AERIALS OF STALINGRAD, STREETV FIGHTING, GERMANS PENETRATING FACTORY DISTRICT, SOVIET DEFENDERS IN STREET FIGHT, ONE FALLS, TANK) 05:13:56 BMT ISSUE 713 (2/1/43) GALLANT END OF THE HORNET GS OF USS AIRCRAFT CARRIER HORNET IN DOCK. CAMERA IS SHOOTING AS ELEVATOR FROM QUARTER DECK RISES TO FLIGHT DECK, RATHER EFFECTIVE. SAILORS PARADED ON FLIGHT DECK. LS OF HORNET. MARTLETS & AVENGERS ON FLIGHT DECK OF HORNET, ONE MARTLET MAKES OFF, ALSO IN FLIGHT. CU PILOT JAP PLANES ATTACKING HORNET, ACK-ACK FIRING, SHOTS OF CREWS FIRING POM-POMS, JAP PLANE CRASHING INTO SEA. GS OF HORNET ON FIRE, CREW ON SIDE OF SHIP LOWERING & RAISING BUCKETS OF WATER, IN AN ENDEAVOUR TO PUT FIRES OUT. HORNET BEING TAKEN IN TOW. LS OF HORNET ON FIRE & LISTING. SHIP HAS BEEN ABANDONED, HORNETS CREW TRANSFERRING FROM CRUISER TO DESTROYER WITHOUT THE SHIPS STOPPING. VARIOUS SHOTS OF STRETCHERS & BOATSWAIN'S CHAIR CARRYING CREW ACROSS WATER.XX FROM DESTROYER TO CRUISER. 05:16:10 BMT ISSUE 713 (2/1/43) CASABLANCA CONFERENCE ELEVATED SHOTS OF CASABLANCA, ALSO OF ANFA HOTEL. GS OF DAMAGED SIDE OF JEAN BART. GS ANFA HOTEL SURROUNDED BY TREES. LORD LOUIS MOUNTBATTEN STANDS BY CAR, SHEDS GREATCOAT. HANDS TO MARINE, STOOPS TO PICK UP GLOVES AND PAPERS FROM GROUND. TWO CLOSE SHOTS OF BROOKE, DILL AND POUND THROUGH GROUNDS INTO CAMERA. BRITISH AND US STAFF SEATED AT TABLE. VARIOUS CLOSE SHOTS OF COUPLES AS FOLLOWS: MARSHALL & BROOKE. ARNOLD AND PORTAL. KING & POUND. MOUNTBATTEN & SOMERVELL. GS BROOKE TALKING TO STAFF. CHURCHILL AS AIR COMMODORE AT WAREHOUSE, INTERIOR SHOTS - SAILORS PARADE AND CHEERING. CHURCHILL OUTSIDE BUILDING WITH HIS SON RANDOLPH. ALEXANDER IN ARMY CAPE WITH TEDDER FOLLOWING UP GANGWAY OF WARSHIP - SAILORS PRESENTING ARMS. ALEXANDER AND TEDDER ALONG DECK OF SHIP TO CABIN. WRENS IN CABIN TYPING AND PRINTING PAPERS ON GESTETNER MACHINE. ROOSEVELT IN STATIONARY JEEP. ROOSEVELT IN JEEP ALONG ROAD INSPECTING US TROOPS. ROOSEVELT AND AMERICAN STAFF SEATED IN FIELD HAVING MEAL. CHURCHILL IN MUFTI WALKS THROUGH GROUNDS OF HOTEL PAST GUARD OF HONOUR WHO PRESENT ARMS, HE SAYS SOMETHING AND THEY IMMEDIATELY SHOULDER ARMS. CAMERAMEN RUNNING AROUND HIM AS HE APPROACHES TWO NAVAL OFFICERS AND SHAKES HANDS. CU GENERAL GIRAUD, ROOSEVELT, PAN TO DE GAULLE AND CHURCHILL. DE GAULLE AND GENERAL GIRAUD SHAKING HANDS, ALSO GIRAUD AND ROOSEVELT. DE GAULLE AND CHURCHILL. DE GAULLE AND GIRAUD WALK OFF. GROUP SHOT OF US STAFF - LEFT TO RIGHT: MR HOPKINS, GENERAL ARNOLD, SOMERVELL & HARRIMAN. SEATED L TO R: MARSHALL, ROOSEVELT, KING, GROUP SHOTS. WARD PRICE TAKING TO CHURCHILL STANDING. CU CHURCHILL SEATED GIVING PRESS CONFERENCE. 05:21:52 BMT ISSUE 714 (2/8/43) U-BOAT PERIL - EXCLUSIVE MOVIETONE SURVEY LORD WINSTON SPEAKS ON THE GRAVE MENACE OF THE U-BOAT. OUR SHIPYARDS CONTINUE THEIR INCREASED OUTPUT AND WOMEN ARE AMONGST THE WORK FORCE. CAPTURED GERMAN FILM SHOWS THE ACTIVITY ONBOARD A U-BOAT THAT IS OUT ON PATROL. SHIPS (FIVE) DOWN RUNWAY (STRAIGHT LAUNCHINGS). CU SIDE OF SHIP PAST CAMERA. U-BOAT BOWS BREAKING SURFACE. INTERIOR SHOT OF CREW AT POSTS, CRASH DIVES, COMMANDER DOWN CONNING TOWER. WATER BUBBLES RISING TO SURFACE VG. CREW WAIT WHILE DEPTH CHARGES EXPLODE, LIGHTS GO OUT, REPLACED. COMMANDER THROUGH PERISCOPE, SUB. SURFACES (BREAKING SURFACE) PATH OF TORPEDO, STRIKES MERCHANT SHIP, & EXPLODES, SEVERAL SHOTS OF SINKING. SURVIVORS IN BOAT, SURVIVORS IN PUBLIC HOUSE TELLS OF EXPERIENCES; FINISHES WITH SHIP IN CONVOY PASSING 05:25:58 BMT ISSUE 715 (2/15/43) HITLER ENTERTAINS DELIRIOUS MEETING OF AXIS BLOOD-BROTHERS. RECONSTRUCTED BY CHARLES RIDLEY. CUT STORY - (MOI) SHOT OF MASSES OF FLAGS, HITLER & MUSSOLINI ARRIVING IN CAR, CAR DRIVES ALONG RANKS OF PARADED GERMAN SOLDIERS. TROOPS MARCHING PAST, CU FEET, HERE THERE IS TRICK PHOTOGRAPHY. (BMN) HITLER & MUSSOLINI IN STAND EACH PERSUADING THE OTHER TO DEMONSTRATE THE GOOSE STEP, IN END HITLER LEADS, MORE TRICK PHOTOGRAPHY, THE CAMERA REVERSING EVERY NOW & THEN. HITLER GOOSE STEPPING IN FRONT OF TROOPS, SHOT OF ENGLISH PLANES, & FINISHES UP WITH HITLER RUNNING TO HIS CAR, A BOMB EXPLODING JUST AS HE REACHES IT. 05:26:42 BMT ISSUE 716 (2/22/43) VERSATILE WELLINGTONS THE FAMOUS BOMBER IS NOW BEING USED FOR LAYING MINES, HERE WE SEE IT DROPPING MINES IN THE SEA LANES OFF TUNISIA. CUT STORY - GS AERODROME SHOWING WELLINGTONS WITH TORPEDOES SCATTERED ABOUT. CU UNDERCARRIAGE OF PLANE, SHOWING MINE BEING HOISTED INTO PLANE UNDER FUSELAGE, BOMB DOORS CLOSING. RAF PERSONNEL ATTACHING FUSE TO MINE. SEVERAL SHOTS OF PLANES OVER SEADROPPING MINES. TORPEDOES ACROSS AERODROME TO PLANES. CU TORPEDO INTO POSITION AND DOORS CLOSING. RAF OFFICER GIVING ORDERS TO INDIAN (SIKH) PILOT, CU ENGINE TURNING - CU PILOT IN COCKPIT. WELLINGTON TAKES OFF, OVER SEA, TORPEDOES DROPPED. WELLINGTONS FLYING INTO CAMERA. CU TORPEDO TAIL. 05:28:12 BMT ISSUE 716 (2/22/43) STALINGRAD DEBACLE SOVIET NEWSFILM SHOWS THE GREAT VICTORY AT STALINGRAD AND THE FIGHTING IN SURROUNDING AREAS. HOW THE RED ARMY SUCCEEDED IN DRIVING BACK THE NAZIS AND TAKING THOUSANDS OF PRISONERS. RUSSIAN INFANTRY ADVANCING OVER SNOW COVERED PLAIN, IN SHELL HOLES FIRING RIFLES.TANKS ADVANCING FOLLOWED BY INFANTRY. RUSSIAN PLANES IN FORMATION BOMBING ENEMY, BOMBS DROPPING & HITS REGISTERED. PAN OF CAPTURED AIRFIELD SHOWING VARIOUS GERMAN PLANES ALL FOCKE WULFS. CU AMMUNITION BELTS LYING IN COCKPIT. CAVALRY RIDING PAST CAPTURED PLANES. TANKS ADVANCING ALONG ROAD, PAN OF RAILWAY, SHOWS MATERIAL LEFT BY GERMANS, RUSSIANS LOADING ONTO CARTS. SEVERAL ANGLE SHOTS OF ARMOURED TRAIN (ON BRYANSK FRONT) STEAMING ALONG TRACK, CU OFFICERS LOOKING OUT OF HATCH. CU BREECH, & GUNS FIRING. RUSSIAN TROOPS CHALKING NUMBERS ON HUNDRED OF CAPTURED BOOTY (ALL TYPES). VARIOUS CU OF PRISONERS, ALSO CU OF FEET STAMPING SAME TO KEEP WARM. RUSSIAN SOLDIERS IN CAPTURED GERMAN FELT BOOTS PARADING UP & DOWN IN FRONT OF COMRADES. VARIOUS ANGLE SHOTS OF PRISONERS MARCHING IN ENDLESS LINES. THESE ARE EXCELLENT SHOTS OF PRISONERS. TANK PASSING PRISONERS, ALSO ESCORTED BY SOLDIERS ON FOOT. LS OF PRISONERS PASSING OUT OF CAMERA. ALL THIS IS SHOT UNDER SNOW. 05:33:21 BMT EXTRANEOUS "SAVE FUEL" PSA, AND TRIPOLI REFUGEES RETURNING HOME. 05:35:45 BMT ISSUE 713A (2/4/43) RED ARMY SWEEPS FORWARD THE RED ARMY SWEEPS ON NALCHIK AREA - THE RED ARMY HAS MADE GREAT ADVANCES IN THE CAUCASUS STOPPING HITLER'S BID TO REACH THE OILFIELDS OF GROZNY AND BAKU. RZHEV FRONT - GREAT ADVANCES HAVE ALSO BEEN MADE IN THE CENTRAL FOLLOWING THE CUTTING OF THE VYAZMA-RZHEV RAILWAY. VELIKI LUKI - AT VELIKI LUKI THE SOVIET WON A GREAT VICTORY CUTTING THE RAILWAY LINE BETWEEN THAT TOWN AND NOVOSOLVIKI. AERIAL SHOTS OF INFANTRY ADVANCING OVER MOUNTAINS. SEVERAL SHOTS OF ALPINE TROOPS CLIMBING OVER ROCKS. FIRING RIFLES AND MACHINE GUNS. SMALL ARTILLERY. RUSSIAN TANKS THROUGH WOODS OUT INTO OPEN FIELDS. CAMERA SHOOTING FROM TANK AS SAME ADVANCES. CU GUN FIRING ON TANK. TREES KNOCKED OVER BY TANKS. VARIOUS SHOTS OF TANKS AS THEY CROSS FIELDS. SHOTS OF TRACER SHELLS BEING FIRED AT AIRCRAFT. LS OF BURNING BUILDINGS. RUSSIAN LOOKS THROUGH GLASSES. SHOTS OF ARTILLERY FIRING. TANKS ACROSS FIELDS. OVER TRACKS. MS SENTRY. PAN OF GERMAN ROLLING STOCK LEFT BEHIND. PAN OF WRECKED GUNS, RAILWAY LORRIES ETC. SHOTS OF DEAD GERMANS. GS SIX BARREL MORTAR. MASS TANKS WITH FOREST BACKGROUND. GERMAN PRISONERS IN SINGLE FILE STAMPING FEET. CLOSE SHOTS OF VARIOUS TYPES OF PRISONERS. RUSSIAN TROOPS IN MARCHPAST WITH OFFICER ON STAND SALUTING. (ALL SHOTS ARE SNOW COVERED (NACCHIK, RZHEV, VELIKI LUKI) 05:40:45 BMT ISSUE 717 (3/1/43) THE GREAT SURRENDER - STALINGRAD ENCIRCLEMENT OF THE SIXTH ARMY. (PARTIALLY DUBBED) COUNTRY UNDER SNOW. LINES OF PRISONERS INTO CAMERA. MAP SHOWING STALINGRAD AND SURROUNDING COUNTRYSIDE. GS PLAINS WITH ARTILLERY FIRING. HEAVY ARTILLERY AND EXPLOSIONS. LONG LINES OF ARTILLERY FIRING. VARIOUS SHOTS OF TROOPS ADVANCING OVER WRECKAGE - DEAD BODIES - GRAVES ETC., LT GENERAL BATOV GREETS GENERAL ROKOSSOVSKY AND MARSHAL VORONOV. THEY ENTER TRENCH AND LIGHT CIGARETTES. ARTILLERY ON OUTSKIRTS OF STALINGRAD. SHOTS OF RUINED BUILDINGS. SOLDIERS CRAWLING INTO POSITION DRAGGING MACHINE GUN ON SLEIGH. VARIOUS SHOTS OF MACHINE GUNS AND ARTILLERY FIRING. FIRING POINT BLANK AT CITY. SEVERAL SHOTS OF POWS COMING OUT OF BUILDING CARRYING WHITE FLAGS..FIELD MARSHAL VON PAULUS OUT OF CAR, WITH OTHER OFFICERS AND ENTERS BUILDING. WITH HIM IS LT GENERAL SCHMIDT. VARIOUS INTERIOR SHOTS. CU VON PAULUS AND RUSSIAN GENERAL TOLBUNIN. 05:45:14 BMT ISSUE 721 (3/29/43) LATEST FROM U.S. TUNISIAN FRONT OFFICIAL PICTURES TAKEN BY US ARMY SIGNAL CORPS, MAKE THIS BRIEF DESPATCH OF A TYPICAL ACTION SOME TIME BEFORE OUR EIGHTH ARMY ATTACKED AT MARETH. JU88'S FLYING OVER TARGET & DIVE BOMBING, FIRING ON TANKS, EXPLOSIONS REGISTERED. VARIOUS SHOTS OF EXPLOSIONS, ELEVATED SHOTS (AERIAL OF GUN DUEL, DIRECT HIT ON HAYSTACK, & LS GERMAN TANK HIT, GERMAN (LS) TANK RETREATING, LONG HIGH SHOTS OVER THE BATTLEFIELD) 05:47:33 BMT ISSUE 721A (4/1/43) TWENTY-FIVE YEARS OF THE ROYAL AIR FORCE (PARITAL DUB) SHOWS NOTHING FINER. FEW SHOTS OF 'BATTLE OF BRITAIN' & CRASHED PLANES. NIGHT SHOT OF LANCASTER TO. SHOT APPROACH PHILIPS WORKS, EINDHOVEN, FIRING GUNS. MASS SHOT OF SPITFIRES TO & IN FORMATION. LS ENEMY GASHOLDER FIRING AT SAME, WHICH IS FIRED. FLIGHT OF MUSTANGS IN LINE & ONE INDIVIDUAL SUNDERLAND OVER SEA, AV OF SUBMARINE IN SEA, ALSO AV COUNTRY. HURRICANE TAKE OFF IN RUSSIA, SNOW COVERED GROUND. ARABS BY PYRAMIDS LOOK UP AT BOSTONS OVER SAME. CU BOMBS FROM MITCHELL SPITFIRE. 05:49:33 BMT ISSUE 722 (4/5/43) BIG BLOWS BY FORTS IN ROUND THE CLOCK OFFENSIVE GSS OF FF'S ON AERODROME & GENERAL PAN OF AERODROME, FF'S TAXIING ACROSS AERODROME (UP TO & PAST CAMERA). FORMATION OF THREE IN FLIGHT. PLANES GETTING INTO FORMATION. VARIOUS SHOTS OF YANKY CREWS STANDING ROUND PLANES. RECEIVING ESCAPE GEAR. CU OF VARIOUS TYPES OF CREWS. ONE OF CREW WITH BLEEDING FACE, OWING TO BEING HIT BY SHELL WHILE ON RAID (PIECE OF). CREW KIT LAID OUT ON GROUND, PIECES BEING TAKEN AWAY, (FADING OUT) TILL ONLY ONE ITEM IS LEFT. PILOT DRESSED IN FULL KIT. INTERIOR OF PLANE CU OF WHOLE CREW AT POSTS. LS OF FF & THOSE WHO MAINTAIN SAME, STAND IN FRONT. (IN FORM OF TABLEAU, THEY FADE OUT ONE BY ONE, SIMILAR TO LANCASTER MAINT.). GS OF FF FROM ROOF OF HANGAR. CREWS DISPERSE TO PLANES. CU OF FF & MS (VERY GOOD). TRACTOR TOWING FF PAST CREW. FF TAXIES OVER AERODROME, CREWS LEAVING BRIEFING ROOM. CUT STORY - CU UNDER CARRIAGE OUT OF CAMERA TO MS OF FF BEING TOWED. MS OF TURNING PROPELLER & ENGINES STARTING. FORMATION OF FF & AERIAL SHOTS OVER WILHELMSHAVEN (THIS IS EXCELLENT SHOT). OVER VEGESACK BOMBS IN FORE FALLING & AERIAL SHOTS FALLING, SMOKE RISING FROM GROUND. GS FF LANDING CREW GETTING OUT, MS OF (INTERIOR) INTERROGATION. CREWS WALK INTO CAMERA ON NEW RAID (ROUEN) & CU OF TYPES. JACK RAMSDEN BEING ASSISTED WITH HIS FLYING KIT, SIDE OF FF. J RAMSDEN FIXES CAMERA TO SPECIALLY MADE DOOR, ALSO COVERS WITH HEATED BLANKET, MOVING CAMERA ROUND. FF CLIMBING. FORMATIONS OF FF'S OVER CLOUDS, VARIOUS SHOTS (VERY GOOD). AERIAL SHOT OF ROUEN BOMBS IN FORE FALLING. WOUNDED ON STRETCHER OUT OF PLANE. CAMERA PANS ROUEN AERIAL SHOTS, FORMATION OVER CLOUDS, CROSSING FRENCH COAST, & CAMERA PANS TO BURNING FF IN SEA NEAR COAST. AERIAL SHOT OF ENGLAND, & PLANES LANDING & TAXIING, J RAMSDEN OUT OF PLANE SMILING, SMOKING CIGARETTE, GIVES LIGHT TO YANKY. MS OF DAMAGED TAIL OF FF. YANK LOOKING AT HOLE OF WING (DAMAGED). COVERING BOMB SITE & CARRYING SAME AWAY, WALK INTO CAMERA. FINISHES WITH SHOT OVER CLOUDS OF FORMATION OF FF'S. CUTS (ADDITIONAL) GS. FF WITH ARMY VAN NEARBY. CU PUNCTURED TYRE OF PLANE, ALSO MS OF CRASHED LANDED FORTRESS. CU OF NAMES OF PLANES SUCH AS: JERSEY BOUNCE, SLEEPING PRINCESS. FF OVER SEA. DAWN SHOT OF FF'S IN LINE CROSS AERODROME FOR TAKE OFF. CREWS TESTING GUNS AT ELEVENTH HOUR. INTERIOR SHOTS OF GUNNERS, PILOTS, ETC. BALL TURRET GUNNER CLIMBING IN. DAMAGED TAIL GUNNER TURRET. OIL FILTER WHICH HAS BEEN SHOT UP. CU 1000LB BOMBS, & BEING HOISTED UNDER CARRIAGE. FF TAKES OFF INTO CAMERA. ONE SECTION SHOWS FLYING FORTRESS WITH DIAGRAM RINGS AROUND SAME. 05:55:20 BMT ISSUE 722A (4/8/43) AMERICANS BLITZ RENAULT WORKS B 17 FLYING FORTRESSES CARRY OUT A RAID ON THE RENAULT WORKS AT BILLANCOURT, PARIS. FILM OF THE ACTUAL BOMBING WAS TAKEN BY NEWSREEL CAMERAMAN JIM WRIGHT. YANKS ON ROOF OF CONTROL TOWER, FORTS PASSING IN FRONT OF HANGAR FOLLOWING ONE ANOTHER, SHOT OF CONTROL TOWER AGAIN. SEVERAL ANGLE SHOTS OF FORTS TAKING OFF. FORTS IN FORMATION, BOMBS IN FORE DROPPING & AERIAL SHOTS OF 'TARGET' SINGLE FORTRESS IN FLIGHT, FINISHING UP WITH AERIAL SHOTS OF RENAULT WORKS. 05:57:48 BMT ISSUE 722A (4/8/43) SECOND BATTLE OF BURMA BRITISH AND INDIAN TROOPS FIGHT THEIR WAY INTO THE JUNGLES OF BURMA, WHILST HURRICANES STRAFE THE ENEMY POSITIONS. VARIOUS SHOTS OF ASSAULT BARGES BEING TOWED ALONG RIVER. GS OF STEAMER. SMALL BOATS (SIMILAR TO CANOES) CARRYING BRITISH TROOPS, LANDING ON COAST, DISEMBARKING. VARIOUS SHOTS OF NATIVE CARRYING EQUIPMENT INCLUDING AMMO. ON BAMBOO STICKS. SMALL NATIVE BOATS ARE SANPANS. ARMOURED CAR CROSSES RIVER ON PONTOON. NATIVES BUILD JETTY, PILE DRIVING IN PRIMITIVE MANNER. BREN CARRIERS ENTERING RE-OCCUPIED VILLAGE. CU SV OF BURMA POLICEMAN. CUT-IN SHOTS OF MARKET SCENES, ALSO NATIVE BEING SHAVED. GENERAL HARTLEY WITH OTHER OFFICERS INTO CAMERA ALONG ROAD, HARTLEY WITH WALKING STICK. VARIOUS SHOTS OF TROOPS IN TRENCHES, IN JUNGLE, ALSO TWO SHARING CIGARETTE, PATROL THROUGH JUNGLE INTO CAMERA, SINGLE FILE. MS OF SNIPER FIRING, FROM LAYING POSITION. BREN CARRIER ALONG BEACH, JUNGLE BACKGROUND, CU DRIVER, & LS OF JUNGLE & COASTLINE. IN JUNGLE TROOPS WITH MULES WINDING THEIR WAY. INDIAN TROOPS MARCH THROUGH VILLAGE, INTO CAMERA. VARIOUS TYPES OF BRITISH TROOPS THREE ENEMY BOMBERS OVERHEAD, SMOKE RISING FROM TREES, CAUSED BY THEIR BOMBS, HURRICANES CHASING ENEMY BOMBERS. FIRING BREN GUN IN JUNGLE. BRITISH PATROL CROSSING SMALL RIVERLETTE. LS HURRICANES STRAFING ENEMY POSITIONS. 06:00:36 BMT ISSUE 723 (4/12/43) MARETH VICTORY - OUT OF TUNISIA, NOW FOR THE LAST ROUND-UP CU SOLDIERS FEET MARCH OUT OF CAMERA ACROSS DESERT (PATROL). MS CRUSADER TANKS LEAD TRANSPORT ALONG ROAD, SHOT INTO CAMERA. CU STACKS OF SHELLS. GRANTS TANKS ON ROAD INTO CAMERA. LS MARETH HILLS AND GS OF ARTILLERY BATTERY DUSK FALLING, NIGHT, BARRAGE COMMENCES. SILHOUETTES OF SOLDIERS BY GUNS (25 POUNDERS). DAWN, GS OF TRENCHES, DUG-OUTS AND TROOPS CROSS WADI; OTHERS RUN WITH WHITE TAPE, MINE CLEARING, DIG AND MAKE TRENCHES. PAN OF TRENCHES, BARBED WIRE ENTANGLEMENTS. TROOPS ALONG TRENCH INTO CAMERA. BRITISH AND GERMAN WOUNDED STAND TOGETHER, AWAIT ATTENTION. CU GERMAN SOLDIER WOUNDED (HAND BLOWN OFF) AND BRITISH WITH WOUND IN CHEST. (CU) FIRST AID RENDERED. CU BREECH OF ARTILLERY ENCLOSED IN CAMOUFLAGED NETTING AND FIRING, LOADING, FIRING. MS OF BOFOR IN TANK DITCH. LS OF SHELL HITS. PAN OF ABANDONED ENEMY TERRITORY. CU GENERAL MONTGOMERY WITH GENERAL FREYBERG, SHOTS, ALSO WALK THROUGH CAMP. AERIAL SHOTS TRANSPORT COLUMNS OVER DESERT AND PAN. VARIOUS EXPLOSIONS. TWO SOLDIERS BEHIND HEDGE HAVE CIGARETTE, DUCK AS BOMB FALLS (VERY REALISTIC). SMOKE RISING FROM EXPLOSION. FORMATION OF JU88'S FLYING THROUGH ACK-ACK, ONE LEAVES TRAIL OF SMOKE AS IT CRASHES (NOT SEEN TO CRASH) CU SPITFIRE PILOT IN COCKPIT, LOOKING FORWARD. CU PROPELLER AND STARTING OF ENGINE. SV LINE OF SPITFIRES TAKE OFF (EXCELLENT SHOT) AND CLIMB INTO CAMERA, BANKING, ETC. LOOK DOWN SHOT OF BALTIMORE BOMBER OVER SEA (VERY GOOD). VARIOUS SHOTS OF FORMATIONS OF BALTIMORES AND BOSTONS DROPPING BOMBS (EXCELLENT SHOTS). AERIAL OF HITS REGISTERING. BASKETS OF BOMBS DROPPED SIMULTANEOUSLY. AERIAL OF EL GUETTAR. JEEPS ALONG ROAD. YANKS IN SAME. PASS ON THE SENED. OUTSIDE BUILDING. NAMES OF TOWN ON SAME. ALSO WITH MAKNASSY. YANKS PATROL STREETS. BRITISH BRIGADIER WITH AMERICAN OFFICER IN TRENCH. LOOK THROUGH FIELD GLASSES. FORMATION OF MITCHELL BOMBERS OVER SEA AND COAST, THROUGH FLAK, DROP BOMBS. AERIAL OF COUNTRY. GENERAL MONTGOMERY WITH GROUP OF SOLDIERS. PRISONERS IN HUNDRED MARCH ACROSS DESERT, ESCORTED BY AMERICANS. CU TYPES OF EIGHTH ARMY SOLDIERS. 06:08:18 BMT ISSUE 723A (4/15/43) 'U' BOAT WOLF PACK - RECENTLY CAPTURED GERMAN FILM SHOWS THE TRIUMPHANT RETURN OF A U-BOAT WOLF PACK (LIBRARY MATERIAL) INTERIOR OF SUBMARINE, SAILOR AT CONTROLS, CU SUBMARINE SURFACING. SUBMARINES (GERMAN) ARRIVE AT DOCKS, VARIOUS SHOTS GS OF SUBMARINES, & ELEVATED SHOTS SHOWING CREW ABOARD, ALSO ON DOCKS. CU PENNANT FLYING, SHOWING HOW MANY ALLIED SHIPS THEY HAVE TO THEIR CREDIT, SUBMARINE ENTERING, REINFORCED CONCRETE DOCKS, ROOF ALSO OF REINFORCED CONCRETE. GS OF SUBMARINE COMING INTO CAMERA, ALSO GS OF SAME INSIDE DOCK. MS OF OUTER DOCKS SHOWING THESE CUBICLE LOCKS. THIS IS A CAPTURED GERMAN REEL, EITHER TAKEN AT LORIENT, FRANCE OR WILHELMSHAVEN. 06:09:29 BMT ISSUE 723A (4/15/43) THE CLEARING OF BUNA IN THE PACIFIC THE AUSTRALIANS HAVE FOUND THAT THE MOPPING UP OF JAPANESE IN THE BUNA AREA TAKES A LOT OF DOING. REMNANTS OF THE ENEMY FORCES ARE HIDING IN CAMOUFLAGED, FORTIFIED JUNGLE POSITIONS AND IT TAKES A LOT TO FINISH THEM OFF. BRITISH PATROL THROUGH JUNGLE, PASSING OTHERS SEATED AT WAYSIDE. PAN OF THE ABOVE, SOLDIER CLEANING BREN CARRIER, ALSO ANOTHER WORKING ON TANK. TANK PLOUGHING ITS WAY THROUGH THE JUNGLE, PAN OF JUNGLE, VARIOUS ANGLE SHOTS OF TANK MAKING ITS WAY THROUGH JUNGLE. SOLDIERS WALKING-CRAWLING ALONG THROUGH UNDERGROWTH, THROWS HANDS GRENADE, OFFICER DIRECTING FIRE OF RIFLE FIRED BY SOLDIER. PLANES PASSING OVER HEAD, CU BREECH OF COASTAL CAMOUFLAGED GUNS, FIRING SAME, HITS ON BEACH, GS OF BEACH WITH JUNGLE FORE, ALSO GS OF COAST FROM SEA, WITH EXPLOSIONS OCCASIONALLY. 06:12:07 BMT ISSUE 727A JAPANESE CONVOY ANNIHILATED FIRST REPORT OF A VICTORY IN THE PACIFIC, THE JAPANESE HAVE BEEN BEATEN BACK IN NEW GUINEA. THE RAAF AND THEIR AMERICAN COMRADES CARRIED OUT THE RAID ON A JAPANESE TROOP CONVOY. MAPS OF THE FAR EAST, ALSO AERIAL PHOTOS OF CONVOY ASSEMBLED OF RABAUL, ANOTHER MAP OF PACIFIC. LS OF CONVOY. KITTYHAWKS LINED UP ON AERODROME SSV. PILOTS BRIEFING OPEN AIR. INSTRUCTIONS BOARD, GROUP OF PILOTS RUN TO PLANES, BOSTONS & MITCHELLS TAKE OFF & ALSO FLYING AT SPEED. FLYING FORTRESSES FLYING INTO CAMERA. KITTYHAWKS, BEAUFIGHTERS, BOSTONS, IN FLIGHT, ALSO LIGHTNING. AERIAL SHOT OF LIBERATOR (LOOK DOWN SHOT BACKGROUND BEING GROUND). AERIAL LS OF CONVOY. CU BOMB DOORS OPENING, & BOMBS DROPPING OUT, & FALLING. FORMATION OF BOSTONS FLYING OVER BURNING SHIPS. VARIOUS AERIAL SHOTS OF CONVOY, SOME OF THE SHIPS SMOKING ALIGHT. INTERIOR - PILOT OF BOMBER, LOOKING BACK AT REAR GUNNER. FIGHTER MACHINE GUNNING SMALL CRAFT, GOES IN THREE TIMES BEFORE GETTING DIRECT HIT, SHOT FROM ATTACKING PLANE. LS BURNING CONVOY. BACK VIEW OF PILOT. KITTYHAWK DOES VICTORY ROLL FINISHES WITH FORMATION OF BEAUFIGHTERS WITH AMERICAN & AUSTRALIAN FADING IN & OUT. 06:17:02 BMT (FROM TUNISIA - VICTORY COMPLETE) GOOD STOCK SHOTS OF DWIGHT EISENHOWER 06:17:31 BMT ISSUE 731 (6/7/43) CHURCHILL TO CONGRESS - WINSTON CHURCHILL ADDRESSED THE UNITED STATES CONGRESS (PARTIAL) MS OF CHURCHILL ADDRESSING CONGRESS (SOUND), CUT-INS OF CROWD APPLAUDING, CHURCHILL FINISHED WALKS OFF STAND & GIVES 'V' SIGN. GS OF STANDM (ROSTRUM) THE SPEAKER BEING MR SAM RAYBURN, ON CHURCHILL'S RIGHT IS MR WALLACE. GS IN GARDEN ROOSEVELT & CHURCHILL OFFICERS STANDING ROUND THEM, CU CHURCHILL VG. CU ROOSEVELT VG & CU BOTH. GS OF PAN OF GROUND WHICH INCLUDES IN ADDITION BROOKE, PORTAL, ARNOLD, MARSHALL & SOMERVILLE. CHURCHILL SOUND "THE HUN IS ALWAYS EITHER AT YOUR THROAT OR YOUR FEET." 06:18:59 BMT ISSUE 731A (6/10/43) GIRAUD AND DE GAULLE MEET AND AGREE THE FIRST NEWS OF GENERAL DE GAULLE'S ARRIVAL IN ALGIERS FOR HIS MUCH POSTPONED MEETING WITH GENERAL GIRAUD. CUT STORY - DOUGLAS PLANE LANDING ON AERODROME, GENERAL DE GAULLE OUT OF PLANE, CU OF DE GAULLE & GIRAUD, INDIVIDUALLY & TOGETHER. MS OF DE GAULLE BY CAR, & CLIMBS IN. GIRAUD & EISENHOWER WALKING PAST GUARD OF HONOUR OF FRENCH TROOPS, GS OF GIRAUD CONFERRING THE GRAND CROSS OF THE LEGION OF HONOUR TO EISENHOWER, GIRAUD THEM PLACES HIS SWORD ON EACH OF EISENHOWER'S SHOULDERS, & KISSES HIS TWO CHEEKS. 06:19:55 BMT ISSUE 731A (6/10/43) PREMIER'S "THANKS FOR VICTORY" VISIT MR CHURCHILL VISITS NORTH AFRICA TO SAY THANKS TO THE VICTORS (PARTIAL) MS CHURCHILL, EISENHOWER & MARSHALL, BROOKE & EDEN. CU SV OF CHURCHILL TO FINISH. KEYWORDS; SIR WINSTON CHURCHILL; FIELD MARSHAL SIR ALAN FRANCIS BROOKE, 1ST VISCOUNT ALANBROOKE; AIR MARSHAL SIR ARTHUR CONINGHAM; GENERAL GEORGE CATLETT MARSHALL; FIELD MARSHAL; ; DWIGHT D EISENHOWER 06:20:58 BMT ISSUE 732 (6/14/43) MASS LEASE/LEND FOR RUSSIA WAR MATERIALS ARRIVE AT A PERSIAN PORT FROM AMERICA EN ROUTE FOR RUSSIA. GENERAL SHOTS OF IRANIAN QUAY LOADED WITH VARIOUS SUPPLIES FOR RUSSIA, STACKS OF FOOD, INCLUDING HORMEL LUNCHEON MEAT (SPAM) PACKED IN CASES ETC. VARIOUS COMPONENT PARTS OF RAILWAY TENDERS, BEING UNLOADED FROM SHIPS, CU RUSSIAN BOOKING SAME IN. BOSTONS BEING ASSEMBLED, & LINE OF BOSTONS, ALSO LINE OF KITTYHAWKS. ELEVATED PAN OF CASES OF AIRCRAFT COMPONENTS IN CASES. GS OF LORRIES WHICH HAVE BEEN ASSEMBLED. FEW START OFF ALONG ROAD. PAN OF STACKS & STACKS OF SUPPLIES AT PORT. (IN CUT STORY THERE IS A CU OF THE AMERICAN YELLOW STAR - ON PLANE - BEING PAINTED OVER IN RED COLOUR). SHOT OF RUSSIAN PILOTS WHO WILL FLY AMERICAN PLANES BACK TO USSR. 06:22:52 BMT ISSUE 733 (6/21/43) TWENTY FIVE NOT OUT THE FLYING FORTRESS MEMPHIS BELLE HAVING COMPLETED TWENTY FIVE MISSIONS OVER ENEMY OCCUPIED EUROPE IS RETURNING TO THE UNITED STATES. DEVERS & EAKER ADDRESS CREW OF MEMPHIS BELLE & OTHER PERSONNEL (SHOT OF WOMAN PAINTED ON PLANE). EAKER WALKING PAST FORTRESS. GS OF PARADE. CU FUSELAGE SHOWS HOW MANY ENEMY PLANES & RAIDS THEY HAVE TO THEIR CREDIT. GS OF INSPECTION. TAKING FROM INSIDE PLANE, CREWS LUGGAGE BEING THROWN IN CENTRE GUN TURRET WINDOW, (INTO CAMERA). ELEVATED SHOT OF HAND SHAKES IN GENERAL & DE-BAGGING OF PILOT. MS OF PILOT & NAVIGATOR INSIDE PLANE. SV TAKE OFF OF FLYING FORTRESS, & VARIOUS SHOTS IN AIR. 06:24:39 BMT ISSUE 733 (6/21/43) MALTA IN REVERSE - PANTELLERIA'S ECLIPSE (ONLY MALTA PART TRANSFERRED) DESPITE TERRIFYING ODDS THE ISLAND OF MALTA HELD OUT AGAINST THE AXIS AND NOW THE SITUATION IS BEING REVERSED AS THE ALLIES POUND PANTELLERIA. CUT STORY - VARIOUS SHOTS OF THE BOMBING OF MALTA, AERIAL SHOTS OF BOMBING. MERCHANT SHIP ENTERING HARBOUR, ABOVE IS LIBRARY MATERIAL 06:27:18 BMT EXTRANEOUS FOOTAGE OF THE ROYAL FAMILY WALKING IN THE COUNTRYSIDE, KING GEORGE VI, EQUUEN ELIZABETH THE ROYAL CONSORT, PRINCESS ELIZABETH, PRINCESS ANNE. 06:27:26 BMT ISSUE 741A (8/19/43) SUBMARINE WARFARE - ONE A DAY MORE AND MORE U-BOATS ARE BEING SUNK, MAKING IT EASIER FOR THE ATLANTIC CONVOYS TO GET THROUGH. AERIAL SHOT OF CONVOY, WIRELESS OPERATOR SENDS OUT MESSAGE, THAT ENEMY SUBS SIGHTED, AMERICAN (EITHER DAUNTLESS OR AVENGER) PLANE TAKE OFF FROM CARRIER, ANGLE SHOTS & OUT OF CAMERA. SHOTS OF FLYING OVER SEA, SUBMARINE SIGHTED, GUN BLAZING, HITS REGISTERING, CU BOMB LEAVING PLANE, STILL OF U-BOAT WITH DEPTH JUST ENTERING WATER (NEAR MISS) & SOME OF CREW ON DECK OF SUB. ANOTHER SUB SIGHTED, AERIAL SHOTS OF HITS & BOMBS FALLING NEAR & DIRECT HITS, SUB HALF SUBMERGED. 06:29:05 BMT ISSUE 742 (8/23/43) US SHIPYARD BREAKS RECORDS ALSO TANK STORY THE HENRY KAISER PACIFIC COAST SHIPYARDS ARE TURNING OUT POCKET AIRCRAFT CARRIERS. LADY HALIFAX, WIFE OF THE BRITISH AMBASSADOR, LAUNCHED ONE OF THEM, THE 'NATONA BAY. GS - AIRCRAFT CARRIER NATONA BAY BEFORE LAUNCHING. MS LADY HALIFAX LAUNCHING SAME, DOWN RUNWAY, OUT OF CAMERA. SHOT OF CARRIER AT SEA, ALSO THE WOLVERINE YOU WILL NOTICE THAT SHE HAS PADDLES. CU OF PADDLES WHILE UNDER WAY. AERIAL SHOT OF CARRIER. NIGHT SHOTS OF KAISER SHIPYARD, LIGHTS FULL ON, VARIOUS SHOTS; RIVETERS AT WORK, THROWING RIVETS ABOUT ETC., ALSO WELDERS AT WORK. END TAPE

ATOMIC BOMB - PART THREE

NVS0174 Subject: World War II (WW II) Tape #3 Source: BMT 05:00:00 BMT ISSUE 696A (10/8/42) CAPTURE OF THE SOLOMONS MS MERCHANT SHIP AT SEA. SHOT OF SHIPS PLOUGHING THEIR WAY THROUGH VERY HEAVY SEAS, THIS CAUSING A MIST. CU OF SHELLS GOING INTO BREECH OF GUN. BIG GUNS OF CRUISER FIRING BROADSIDE. LS GUNS FIRING. AA GUNS & POM-POMS FIRING. SMALL CRAFT OFF ISLAND LS NOT VERY CLEAR. AUSTRALIAN CRUISER WHICH HAS BEEN HIT STILL FIRING HER GUNS LS. SHOT OF SEA, WITH A PLANE HIGH UP IN THE SKIES. DESTROYER JUST OFF SHORE. GENERAL VIEW OF ISLAND SHOWING DAMAGED CAMPS. MANY JAPS LYING ABOUT DEAD. CU HEAP OF DEAD JAPS. AERIAL SHOT OF AERODROME WHICH MARINES HAVE CAPTURED. JAP PRISONERS LINED UP, BARBED WIRE IN FOREGROUND. PAN SHOT OF CAPTURED EQUIPMENT. LS SHOWING ISLAND WITH SMOKE STILL RISING CAUSED THROUGH DAMAGE INFLICTED BY THE MARINES. DITTO SHOT FROM BEACH. 05:02:28 BMT ISSUE 706 (12/14/42) RUSSIA STRIKES BACK RUSSIAN SNIPER AND ARTILLERY BARRAGE (PARTIALLY DUBBED WITHOUT THIS SCENE ON WW II TAPE 2). 05:04:02 BMT GOOD HITLER IMAGES (BROWN SHIRTED), RANTING. 05:04:32 BMT ISSUE 701 (11/9/42) ROMMEL ABOUT FACE THE NEWS THAT GENERAL MONTGOMERY HAD WON THE FIRST ROUND AND THE EIGHTH ARMY HAD SMASHED ITS WAY THROUGH WAS AN INSPIRATION TO THOSE AT HOME. ALEXANDER TALKING OVER MAP WITH OFFICERS ALSO ROMMEL TALKING TO HIS OFFICERS. TANKS GOING FORWARD WITH EXPLOSIONS ALL AROUND THEM, PAN SHOT OF TANKS. PLANES IN FORMATION, ARMOURED LORRIES ADVANCING, BREN CARRIERS. MOTOR LOADS OF GERMAN TROOPS (PRISONERS). HITLER. ROYAL NAVY TORPEDO AN AXIS SHIP. CAPTURED GERMAN GUNS AND TANKS. PRISONERS AND OTHER BOOTY. OUR TROOPS PASSING GERMAN DEAD AND BURNING WRECKAGE. 05:06:55 BMT ISSUE 711A (1/21/43) AXIS PLANS GO WRONG (PARTIAL DUB) ROMMEL & KESSELRING IN DESERT, CU OF BOTH; ROMMEL AT GERMAN HQ BERLIN ENTERS ROOM WITH GOEBBELS, VARIOUS SHOTS OF SAME. CU ROMMEL; HITLER PRESENTING ROMMEL WITH AWARD. MAP. MONTY GETS OUT OF CAR & WALKS TO CU. AERIAL SCENES OF CAUCASIAN MOUNTAINS, AERIAL SHOT OF GERMAN ALPINE TROOPS AT BASE OF MOUNTAIN, ON THE MARCH. SOLDIERS WITH PACK HORSES CLIMBING MOUNTAIN. SMALL ARTILLERY ON MOUNTAIN FIRING. THE MOUNTAINS BEING SNOW COVERED. JERRIES THROUGH FOREST CARRY RAFT CROSS RIVER KABAN. SHOTS OF SOLDIERS MARCHING, VARIOUS EXPLOSIONS AROUND. RAFT CROSSES RIVER AMID MACHINE GUN FIRE. LS OF ARTILLERY EXPLOSIONS, CU BREECH SHELLS HANDED UP, DIRECT HITS ON TWO RUSSIAN TANKS. ADVANCE ON INFANTRY, CU TANK, & OTHERS ADVANCING.JU88B IN FLIGHT, MS OF HEINKEL DROPPING BOMBS & MASSES OF INCENDIARIES. AERIAL SHOTS OF DIRECT HITS ON ROADS, RAILWAYS, ETC. VERY GOOD. TRACERS COMING UP AT PLANES, ALSO VERY GOOD. SEVERAL SHOTS OF FIRES, LS STALINGRAD, AS IN GR ISSUE 709. FINISHES UP WITH TANKS ADVANCING. (GOOD DOG FIGHT, AERIALS OF STALINGRAD, STREETV FIGHTING, GERMANS PENETRATING FACTORY DISTRICT, SOVIET DEFENDERS IN STREET FIGHT, ONE FALLS, TANK) 05:13:56 BMT ISSUE 713 (2/1/43) GALLANT END OF THE HORNET GS OF USS AIRCRAFT CARRIER HORNET IN DOCK. CAMERA IS SHOOTING AS ELEVATOR FROM QUARTER DECK RISES TO FLIGHT DECK, RATHER EFFECTIVE. SAILORS PARADED ON FLIGHT DECK. LS OF HORNET. MARTLETS & AVENGERS ON FLIGHT DECK OF HORNET, ONE MARTLET MAKES OFF, ALSO IN FLIGHT. CU PILOT JAP PLANES ATTACKING HORNET, ACK-ACK FIRING, SHOTS OF CREWS FIRING POM-POMS, JAP PLANE CRASHING INTO SEA. GS OF HORNET ON FIRE, CREW ON SIDE OF SHIP LOWERING & RAISING BUCKETS OF WATER, IN AN ENDEAVOUR TO PUT FIRES OUT. HORNET BEING TAKEN IN TOW. LS OF HORNET ON FIRE & LISTING. SHIP HAS BEEN ABANDONED, HORNETS CREW TRANSFERRING FROM CRUISER TO DESTROYER WITHOUT THE SHIPS STOPPING. VARIOUS SHOTS OF STRETCHERS & BOATSWAIN'S CHAIR CARRYING CREW ACROSS WATER.XX FROM DESTROYER TO CRUISER. 05:16:10 BMT ISSUE 713 (2/1/43) CASABLANCA CONFERENCE ELEVATED SHOTS OF CASABLANCA, ALSO OF ANFA HOTEL. GS OF DAMAGED SIDE OF JEAN BART. GS ANFA HOTEL SURROUNDED BY TREES. LORD LOUIS MOUNTBATTEN STANDS BY CAR, SHEDS GREATCOAT. HANDS TO MARINE, STOOPS TO PICK UP GLOVES AND PAPERS FROM GROUND. TWO CLOSE SHOTS OF BROOKE, DILL AND POUND THROUGH GROUNDS INTO CAMERA. BRITISH AND US STAFF SEATED AT TABLE. VARIOUS CLOSE SHOTS OF COUPLES AS FOLLOWS: MARSHALL & BROOKE. ARNOLD AND PORTAL. KING & POUND. MOUNTBATTEN & SOMERVELL. GS BROOKE TALKING TO STAFF. CHURCHILL AS AIR COMMODORE AT WAREHOUSE, INTERIOR SHOTS - SAILORS PARADE AND CHEERING. CHURCHILL OUTSIDE BUILDING WITH HIS SON RANDOLPH. ALEXANDER IN ARMY CAPE WITH TEDDER FOLLOWING UP GANGWAY OF WARSHIP - SAILORS PRESENTING ARMS. ALEXANDER AND TEDDER ALONG DECK OF SHIP TO CABIN. WRENS IN CABIN TYPING AND PRINTING PAPERS ON GESTETNER MACHINE. ROOSEVELT IN STATIONARY JEEP. ROOSEVELT IN JEEP ALONG ROAD INSPECTING US TROOPS. ROOSEVELT AND AMERICAN STAFF SEATED IN FIELD HAVING MEAL. CHURCHILL IN MUFTI WALKS THROUGH GROUNDS OF HOTEL PAST GUARD OF HONOUR WHO PRESENT ARMS, HE SAYS SOMETHING AND THEY IMMEDIATELY SHOULDER ARMS. CAMERAMEN RUNNING AROUND HIM AS HE APPROACHES TWO NAVAL OFFICERS AND SHAKES HANDS. CU GENERAL GIRAUD, ROOSEVELT, PAN TO DE GAULLE AND CHURCHILL. DE GAULLE AND GENERAL GIRAUD SHAKING HANDS, ALSO GIRAUD AND ROOSEVELT. DE GAULLE AND CHURCHILL. DE GAULLE AND GIRAUD WALK OFF. GROUP SHOT OF US STAFF - LEFT TO RIGHT: MR HOPKINS, GENERAL ARNOLD, SOMERVELL & HARRIMAN. SEATED L TO R: MARSHALL, ROOSEVELT, KING, GROUP SHOTS. WARD PRICE TAKING TO CHURCHILL STANDING. CU CHURCHILL SEATED GIVING PRESS CONFERENCE. 05:21:52 BMT ISSUE 714 (2/8/43) U-BOAT PERIL - EXCLUSIVE MOVIETONE SURVEY LORD WINSTON SPEAKS ON THE GRAVE MENACE OF THE U-BOAT. OUR SHIPYARDS CONTINUE THEIR INCREASED OUTPUT AND WOMEN ARE AMONGST THE WORK FORCE. CAPTURED GERMAN FILM SHOWS THE ACTIVITY ONBOARD A U-BOAT THAT IS OUT ON PATROL. SHIPS (FIVE) DOWN RUNWAY (STRAIGHT LAUNCHINGS). CU SIDE OF SHIP PAST CAMERA. U-BOAT BOWS BREAKING SURFACE. INTERIOR SHOT OF CREW AT POSTS, CRASH DIVES, COMMANDER DOWN CONNING TOWER. WATER BUBBLES RISING TO SURFACE VG. CREW WAIT WHILE DEPTH CHARGES EXPLODE, LIGHTS GO OUT, REPLACED. COMMANDER THROUGH PERISCOPE, SUB. SURFACES (BREAKING SURFACE) PATH OF TORPEDO, STRIKES MERCHANT SHIP, & EXPLODES, SEVERAL SHOTS OF SINKING. SURVIVORS IN BOAT, SURVIVORS IN PUBLIC HOUSE TELLS OF EXPERIENCES; FINISHES WITH SHIP IN CONVOY PASSING 05:25:58 BMT ISSUE 715 (2/15/43) HITLER ENTERTAINS DELIRIOUS MEETING OF AXIS BLOOD-BROTHERS. RECONSTRUCTED BY CHARLES RIDLEY. CUT STORY - (MOI) SHOT OF MASSES OF FLAGS, HITLER & MUSSOLINI ARRIVING IN CAR, CAR DRIVES ALONG RANKS OF PARADED GERMAN SOLDIERS. TROOPS MARCHING PAST, CU FEET, HERE THERE IS TRICK PHOTOGRAPHY. (BMN) HITLER & MUSSOLINI IN STAND EACH PERSUADING THE OTHER TO DEMONSTRATE THE GOOSE STEP, IN END HITLER LEADS, MORE TRICK PHOTOGRAPHY, THE CAMERA REVERSING EVERY NOW & THEN. HITLER GOOSE STEPPING IN FRONT OF TROOPS, SHOT OF ENGLISH PLANES, & FINISHES UP WITH HITLER RUNNING TO HIS CAR, A BOMB EXPLODING JUST AS HE REACHES IT. 05:26:42 BMT ISSUE 716 (2/22/43) VERSATILE WELLINGTONS THE FAMOUS BOMBER IS NOW BEING USED FOR LAYING MINES, HERE WE SEE IT DROPPING MINES IN THE SEA LANES OFF TUNISIA. CUT STORY - GS AERODROME SHOWING WELLINGTONS WITH TORPEDOES SCATTERED ABOUT. CU UNDERCARRIAGE OF PLANE, SHOWING MINE BEING HOISTED INTO PLANE UNDER FUSELAGE, BOMB DOORS CLOSING. RAF PERSONNEL ATTACHING FUSE TO MINE. SEVERAL SHOTS OF PLANES OVER SEADROPPING MINES. TORPEDOES ACROSS AERODROME TO PLANES. CU TORPEDO INTO POSITION AND DOORS CLOSING. RAF OFFICER GIVING ORDERS TO INDIAN (SIKH) PILOT, CU ENGINE TURNING - CU PILOT IN COCKPIT. WELLINGTON TAKES OFF, OVER SEA, TORPEDOES DROPPED. WELLINGTONS FLYING INTO CAMERA. CU TORPEDO TAIL. 05:28:12 BMT ISSUE 716 (2/22/43) STALINGRAD DEBACLE SOVIET NEWSFILM SHOWS THE GREAT VICTORY AT STALINGRAD AND THE FIGHTING IN SURROUNDING AREAS. HOW THE RED ARMY SUCCEEDED IN DRIVING BACK THE NAZIS AND TAKING THOUSANDS OF PRISONERS. RUSSIAN INFANTRY ADVANCING OVER SNOW COVERED PLAIN, IN SHELL HOLES FIRING RIFLES.TANKS ADVANCING FOLLOWED BY INFANTRY. RUSSIAN PLANES IN FORMATION BOMBING ENEMY, BOMBS DROPPING & HITS REGISTERED. PAN OF CAPTURED AIRFIELD SHOWING VARIOUS GERMAN PLANES ALL FOCKE WULFS. CU AMMUNITION BELTS LYING IN COCKPIT. CAVALRY RIDING PAST CAPTURED PLANES. TANKS ADVANCING ALONG ROAD, PAN OF RAILWAY, SHOWS MATERIAL LEFT BY GERMANS, RUSSIANS LOADING ONTO CARTS. SEVERAL ANGLE SHOTS OF ARMOURED TRAIN (ON BRYANSK FRONT) STEAMING ALONG TRACK, CU OFFICERS LOOKING OUT OF HATCH. CU BREECH, & GUNS FIRING. RUSSIAN TROOPS CHALKING NUMBERS ON HUNDRED OF CAPTURED BOOTY (ALL TYPES). VARIOUS CU OF PRISONERS, ALSO CU OF FEET STAMPING SAME TO KEEP WARM. RUSSIAN SOLDIERS IN CAPTURED GERMAN FELT BOOTS PARADING UP & DOWN IN FRONT OF COMRADES. VARIOUS ANGLE SHOTS OF PRISONERS MARCHING IN ENDLESS LINES. THESE ARE EXCELLENT SHOTS OF PRISONERS. TANK PASSING PRISONERS, ALSO ESCORTED BY SOLDIERS ON FOOT. LS OF PRISONERS PASSING OUT OF CAMERA. ALL THIS IS SHOT UNDER SNOW. 05:33:21 BMT EXTRANEOUS "SAVE FUEL" PSA, AND TRIPOLI REFUGEES RETURNING HOME. 05:35:45 BMT ISSUE 713A (2/4/43) RED ARMY SWEEPS FORWARD THE RED ARMY SWEEPS ON NALCHIK AREA - THE RED ARMY HAS MADE GREAT ADVANCES IN THE CAUCASUS STOPPING HITLER'S BID TO REACH THE OILFIELDS OF GROZNY AND BAKU. RZHEV FRONT - GREAT ADVANCES HAVE ALSO BEEN MADE IN THE CENTRAL FOLLOWING THE CUTTING OF THE VYAZMA-RZHEV RAILWAY. VELIKI LUKI - AT VELIKI LUKI THE SOVIET WON A GREAT VICTORY CUTTING THE RAILWAY LINE BETWEEN THAT TOWN AND NOVOSOLVIKI. AERIAL SHOTS OF INFANTRY ADVANCING OVER MOUNTAINS. SEVERAL SHOTS OF ALPINE TROOPS CLIMBING OVER ROCKS. FIRING RIFLES AND MACHINE GUNS. SMALL ARTILLERY. RUSSIAN TANKS THROUGH WOODS OUT INTO OPEN FIELDS. CAMERA SHOOTING FROM TANK AS SAME ADVANCES. CU GUN FIRING ON TANK. TREES KNOCKED OVER BY TANKS. VARIOUS SHOTS OF TANKS AS THEY CROSS FIELDS. SHOTS OF TRACER SHELLS BEING FIRED AT AIRCRAFT. LS OF BURNING BUILDINGS. RUSSIAN LOOKS THROUGH GLASSES. SHOTS OF ARTILLERY FIRING. TANKS ACROSS FIELDS. OVER TRACKS. MS SENTRY. PAN OF GERMAN ROLLING STOCK LEFT BEHIND. PAN OF WRECKED GUNS, RAILWAY LORRIES ETC. SHOTS OF DEAD GERMANS. GS SIX BARREL MORTAR. MASS TANKS WITH FOREST BACKGROUND. GERMAN PRISONERS IN SINGLE FILE STAMPING FEET. CLOSE SHOTS OF VARIOUS TYPES OF PRISONERS. RUSSIAN TROOPS IN MARCHPAST WITH OFFICER ON STAND SALUTING. (ALL SHOTS ARE SNOW COVERED (NACCHIK, RZHEV, VELIKI LUKI) 05:40:45 BMT ISSUE 717 (3/1/43) THE GREAT SURRENDER - STALINGRAD ENCIRCLEMENT OF THE SIXTH ARMY. (PARTIALLY DUBBED) COUNTRY UNDER SNOW. LINES OF PRISONERS INTO CAMERA. MAP SHOWING STALINGRAD AND SURROUNDING COUNTRYSIDE. GS PLAINS WITH ARTILLERY FIRING. HEAVY ARTILLERY AND EXPLOSIONS. LONG LINES OF ARTILLERY FIRING. VARIOUS SHOTS OF TROOPS ADVANCING OVER WRECKAGE - DEAD BODIES - GRAVES ETC., LT GENERAL BATOV GREETS GENERAL ROKOSSOVSKY AND MARSHAL VORONOV. THEY ENTER TRENCH AND LIGHT CIGARETTES. ARTILLERY ON OUTSKIRTS OF STALINGRAD. SHOTS OF RUINED BUILDINGS. SOLDIERS CRAWLING INTO POSITION DRAGGING MACHINE GUN ON SLEIGH. VARIOUS SHOTS OF MACHINE GUNS AND ARTILLERY FIRING. FIRING POINT BLANK AT CITY. SEVERAL SHOTS OF POWS COMING OUT OF BUILDING CARRYING WHITE FLAGS..FIELD MARSHAL VON PAULUS OUT OF CAR, WITH OTHER OFFICERS AND ENTERS BUILDING. WITH HIM IS LT GENERAL SCHMIDT. VARIOUS INTERIOR SHOTS. CU VON PAULUS AND RUSSIAN GENERAL TOLBUNIN. 05:45:14 BMT ISSUE 721 (3/29/43) LATEST FROM U.S. TUNISIAN FRONT OFFICIAL PICTURES TAKEN BY US ARMY SIGNAL CORPS, MAKE THIS BRIEF DESPATCH OF A TYPICAL ACTION SOME TIME BEFORE OUR EIGHTH ARMY ATTACKED AT MARETH. JU88'S FLYING OVER TARGET & DIVE BOMBING, FIRING ON TANKS, EXPLOSIONS REGISTERED. VARIOUS SHOTS OF EXPLOSIONS, ELEVATED SHOTS (AERIAL OF GUN DUEL, DIRECT HIT ON HAYSTACK, & LS GERMAN TANK HIT, GERMAN (LS) TANK RETREATING, LONG HIGH SHOTS OVER THE BATTLEFIELD) 05:47:33 BMT ISSUE 721A (4/1/43) TWENTY-FIVE YEARS OF THE ROYAL AIR FORCE (PARITAL DUB) SHOWS NOTHING FINER. FEW SHOTS OF 'BATTLE OF BRITAIN' & CRASHED PLANES. NIGHT SHOT OF LANCASTER TO. SHOT APPROACH PHILIPS WORKS, EINDHOVEN, FIRING GUNS. MASS SHOT OF SPITFIRES TO & IN FORMATION. LS ENEMY GASHOLDER FIRING AT SAME, WHICH IS FIRED. FLIGHT OF MUSTANGS IN LINE & ONE INDIVIDUAL SUNDERLAND OVER SEA, AV OF SUBMARINE IN SEA, ALSO AV COUNTRY. HURRICANE TAKE OFF IN RUSSIA, SNOW COVERED GROUND. ARABS BY PYRAMIDS LOOK UP AT BOSTONS OVER SAME. CU BOMBS FROM MITCHELL SPITFIRE. 05:49:33 BMT ISSUE 722 (4/5/43) BIG BLOWS BY FORTS IN ROUND THE CLOCK OFFENSIVE GSS OF FF'S ON AERODROME & GENERAL PAN OF AERODROME, FF'S TAXIING ACROSS AERODROME (UP TO & PAST CAMERA). FORMATION OF THREE IN FLIGHT. PLANES GETTING INTO FORMATION. VARIOUS SHOTS OF YANKY CREWS STANDING ROUND PLANES. RECEIVING ESCAPE GEAR. CU OF VARIOUS TYPES OF CREWS. ONE OF CREW WITH BLEEDING FACE, OWING TO BEING HIT BY SHELL WHILE ON RAID (PIECE OF). CREW KIT LAID OUT ON GROUND, PIECES BEING TAKEN AWAY, (FADING OUT) TILL ONLY ONE ITEM IS LEFT. PILOT DRESSED IN FULL KIT. INTERIOR OF PLANE CU OF WHOLE CREW AT POSTS. LS OF FF & THOSE WHO MAINTAIN SAME, STAND IN FRONT. (IN FORM OF TABLEAU, THEY FADE OUT ONE BY ONE, SIMILAR TO LANCASTER MAINT.). GS OF FF FROM ROOF OF HANGAR. CREWS DISPERSE TO PLANES. CU OF FF & MS (VERY GOOD). TRACTOR TOWING FF PAST CREW. FF TAXIES OVER AERODROME, CREWS LEAVING BRIEFING ROOM. CUT STORY - CU UNDER CARRIAGE OUT OF CAMERA TO MS OF FF BEING TOWED. MS OF TURNING PROPELLER & ENGINES STARTING. FORMATION OF FF & AERIAL SHOTS OVER WILHELMSHAVEN (THIS IS EXCELLENT SHOT). OVER VEGESACK BOMBS IN FORE FALLING & AERIAL SHOTS FALLING, SMOKE RISING FROM GROUND. GS FF LANDING CREW GETTING OUT, MS OF (INTERIOR) INTERROGATION. CREWS WALK INTO CAMERA ON NEW RAID (ROUEN) & CU OF TYPES. JACK RAMSDEN BEING ASSISTED WITH HIS FLYING KIT, SIDE OF FF. J RAMSDEN FIXES CAMERA TO SPECIALLY MADE DOOR, ALSO COVERS WITH HEATED BLANKET, MOVING CAMERA ROUND. FF CLIMBING. FORMATIONS OF FF'S OVER CLOUDS, VARIOUS SHOTS (VERY GOOD). AERIAL SHOT OF ROUEN BOMBS IN FORE FALLING. WOUNDED ON STRETCHER OUT OF PLANE. CAMERA PANS ROUEN AERIAL SHOTS, FORMATION OVER CLOUDS, CROSSING FRENCH COAST, & CAMERA PANS TO BURNING FF IN SEA NEAR COAST. AERIAL SHOT OF ENGLAND, & PLANES LANDING & TAXIING, J RAMSDEN OUT OF PLANE SMILING, SMOKING CIGARETTE, GIVES LIGHT TO YANKY. MS OF DAMAGED TAIL OF FF. YANK LOOKING AT HOLE OF WING (DAMAGED). COVERING BOMB SITE & CARRYING SAME AWAY, WALK INTO CAMERA. FINISHES WITH SHOT OVER CLOUDS OF FORMATION OF FF'S. CUTS (ADDITIONAL) GS. FF WITH ARMY VAN NEARBY. CU PUNCTURED TYRE OF PLANE, ALSO MS OF CRASHED LANDED FORTRESS. CU OF NAMES OF PLANES SUCH AS: JERSEY BOUNCE, SLEEPING PRINCESS. FF OVER SEA. DAWN SHOT OF FF'S IN LINE CROSS AERODROME FOR TAKE OFF. CREWS TESTING GUNS AT ELEVENTH HOUR. INTERIOR SHOTS OF GUNNERS, PILOTS, ETC. BALL TURRET GUNNER CLIMBING IN. DAMAGED TAIL GUNNER TURRET. OIL FILTER WHICH HAS BEEN SHOT UP. CU 1000LB BOMBS, & BEING HOISTED UNDER CARRIAGE. FF TAKES OFF INTO CAMERA. ONE SECTION SHOWS FLYING FORTRESS WITH DIAGRAM RINGS AROUND SAME. 05:55:20 BMT ISSUE 722A (4/8/43) AMERICANS BLITZ RENAULT WORKS B 17 FLYING FORTRESSES CARRY OUT A RAID ON THE RENAULT WORKS AT BILLANCOURT, PARIS. FILM OF THE ACTUAL BOMBING WAS TAKEN BY NEWSREEL CAMERAMAN JIM WRIGHT. YANKS ON ROOF OF CONTROL TOWER, FORTS PASSING IN FRONT OF HANGAR FOLLOWING ONE ANOTHER, SHOT OF CONTROL TOWER AGAIN. SEVERAL ANGLE SHOTS OF FORTS TAKING OFF. FORTS IN FORMATION, BOMBS IN FORE DROPPING & AERIAL SHOTS OF 'TARGET' SINGLE FORTRESS IN FLIGHT, FINISHING UP WITH AERIAL SHOTS OF RENAULT WORKS. 05:57:48 BMT ISSUE 722A (4/8/43) SECOND BATTLE OF BURMA BRITISH AND INDIAN TROOPS FIGHT THEIR WAY INTO THE JUNGLES OF BURMA, WHILST HURRICANES STRAFE THE ENEMY POSITIONS. VARIOUS SHOTS OF ASSAULT BARGES BEING TOWED ALONG RIVER. GS OF STEAMER. SMALL BOATS (SIMILAR TO CANOES) CARRYING BRITISH TROOPS, LANDING ON COAST, DISEMBARKING. VARIOUS SHOTS OF NATIVE CARRYING EQUIPMENT INCLUDING AMMO. ON BAMBOO STICKS. SMALL NATIVE BOATS ARE SANPANS. ARMOURED CAR CROSSES RIVER ON PONTOON. NATIVES BUILD JETTY, PILE DRIVING IN PRIMITIVE MANNER. BREN CARRIERS ENTERING RE-OCCUPIED VILLAGE. CU SV OF BURMA POLICEMAN. CUT-IN SHOTS OF MARKET SCENES, ALSO NATIVE BEING SHAVED. GENERAL HARTLEY WITH OTHER OFFICERS INTO CAMERA ALONG ROAD, HARTLEY WITH WALKING STICK. VARIOUS SHOTS OF TROOPS IN TRENCHES, IN JUNGLE, ALSO TWO SHARING CIGARETTE, PATROL THROUGH JUNGLE INTO CAMERA, SINGLE FILE. MS OF SNIPER FIRING, FROM LAYING POSITION. BREN CARRIER ALONG BEACH, JUNGLE BACKGROUND, CU DRIVER, & LS OF JUNGLE & COASTLINE. IN JUNGLE TROOPS WITH MULES WINDING THEIR WAY. INDIAN TROOPS MARCH THROUGH VILLAGE, INTO CAMERA. VARIOUS TYPES OF BRITISH TROOPS THREE ENEMY BOMBERS OVERHEAD, SMOKE RISING FROM TREES, CAUSED BY THEIR BOMBS, HURRICANES CHASING ENEMY BOMBERS. FIRING BREN GUN IN JUNGLE. BRITISH PATROL CROSSING SMALL RIVERLETTE. LS HURRICANES STRAFING ENEMY POSITIONS. 06:00:36 BMT ISSUE 723 (4/12/43) MARETH VICTORY - OUT OF TUNISIA, NOW FOR THE LAST ROUND-UP CU SOLDIERS FEET MARCH OUT OF CAMERA ACROSS DESERT (PATROL). MS CRUSADER TANKS LEAD TRANSPORT ALONG ROAD, SHOT INTO CAMERA. CU STACKS OF SHELLS. GRANTS TANKS ON ROAD INTO CAMERA. LS MARETH HILLS AND GS OF ARTILLERY BATTERY DUSK FALLING, NIGHT, BARRAGE COMMENCES. SILHOUETTES OF SOLDIERS BY GUNS (25 POUNDERS). DAWN, GS OF TRENCHES, DUG-OUTS AND TROOPS CROSS WADI; OTHERS RUN WITH WHITE TAPE, MINE CLEARING, DIG AND MAKE TRENCHES. PAN OF TRENCHES, BARBED WIRE ENTANGLEMENTS. TROOPS ALONG TRENCH INTO CAMERA. BRITISH AND GERMAN WOUNDED STAND TOGETHER, AWAIT ATTENTION. CU GERMAN SOLDIER WOUNDED (HAND BLOWN OFF) AND BRITISH WITH WOUND IN CHEST. (CU) FIRST AID RENDERED. CU BREECH OF ARTILLERY ENCLOSED IN CAMOUFLAGED NETTING AND FIRING, LOADING, FIRING. MS OF BOFOR IN TANK DITCH. LS OF SHELL HITS. PAN OF ABANDONED ENEMY TERRITORY. CU GENERAL MONTGOMERY WITH GENERAL FREYBERG, SHOTS, ALSO WALK THROUGH CAMP. AERIAL SHOTS TRANSPORT COLUMNS OVER DESERT AND PAN. VARIOUS EXPLOSIONS. TWO SOLDIERS BEHIND HEDGE HAVE CIGARETTE, DUCK AS BOMB FALLS (VERY REALISTIC). SMOKE RISING FROM EXPLOSION. FORMATION OF JU88'S FLYING THROUGH ACK-ACK, ONE LEAVES TRAIL OF SMOKE AS IT CRASHES (NOT SEEN TO CRASH) CU SPITFIRE PILOT IN COCKPIT, LOOKING FORWARD. CU PROPELLER AND STARTING OF ENGINE. SV LINE OF SPITFIRES TAKE OFF (EXCELLENT SHOT) AND CLIMB INTO CAMERA, BANKING, ETC. LOOK DOWN SHOT OF BALTIMORE BOMBER OVER SEA (VERY GOOD). VARIOUS SHOTS OF FORMATIONS OF BALTIMORES AND BOSTONS DROPPING BOMBS (EXCELLENT SHOTS). AERIAL OF HITS REGISTERING. BASKETS OF BOMBS DROPPED SIMULTANEOUSLY. AERIAL OF EL GUETTAR. JEEPS ALONG ROAD. YANKS IN SAME. PASS ON THE SENED. OUTSIDE BUILDING. NAMES OF TOWN ON SAME. ALSO WITH MAKNASSY. YANKS PATROL STREETS. BRITISH BRIGADIER WITH AMERICAN OFFICER IN TRENCH. LOOK THROUGH FIELD GLASSES. FORMATION OF MITCHELL BOMBERS OVER SEA AND COAST, THROUGH FLAK, DROP BOMBS. AERIAL OF COUNTRY. GENERAL MONTGOMERY WITH GROUP OF SOLDIERS. PRISONERS IN HUNDRED MARCH ACROSS DESERT, ESCORTED BY AMERICANS. CU TYPES OF EIGHTH ARMY SOLDIERS. 06:08:18 BMT ISSUE 723A (4/15/43) 'U' BOAT WOLF PACK - RECENTLY CAPTURED GERMAN FILM SHOWS THE TRIUMPHANT RETURN OF A U-BOAT WOLF PACK (LIBRARY MATERIAL) INTERIOR OF SUBMARINE, SAILOR AT CONTROLS, CU SUBMARINE SURFACING. SUBMARINES (GERMAN) ARRIVE AT DOCKS, VARIOUS SHOTS GS OF SUBMARINES, & ELEVATED SHOTS SHOWING CREW ABOARD, ALSO ON DOCKS. CU PENNANT FLYING, SHOWING HOW MANY ALLIED SHIPS THEY HAVE TO THEIR CREDIT, SUBMARINE ENTERING, REINFORCED CONCRETE DOCKS, ROOF ALSO OF REINFORCED CONCRETE. GS OF SUBMARINE COMING INTO CAMERA, ALSO GS OF SAME INSIDE DOCK. MS OF OUTER DOCKS SHOWING THESE CUBICLE LOCKS. THIS IS A CAPTURED GERMAN REEL, EITHER TAKEN AT LORIENT, FRANCE OR WILHELMSHAVEN. 06:09:29 BMT ISSUE 723A (4/15/43) THE CLEARING OF BUNA IN THE PACIFIC THE AUSTRALIANS HAVE FOUND THAT THE MOPPING UP OF JAPANESE IN THE BUNA AREA TAKES A LOT OF DOING. REMNANTS OF THE ENEMY FORCES ARE HIDING IN CAMOUFLAGED, FORTIFIED JUNGLE POSITIONS AND IT TAKES A LOT TO FINISH THEM OFF. BRITISH PATROL THROUGH JUNGLE, PASSING OTHERS SEATED AT WAYSIDE. PAN OF THE ABOVE, SOLDIER CLEANING BREN CARRIER, ALSO ANOTHER WORKING ON TANK. TANK PLOUGHING ITS WAY THROUGH THE JUNGLE, PAN OF JUNGLE, VARIOUS ANGLE SHOTS OF TANK MAKING ITS WAY THROUGH JUNGLE. SOLDIERS WALKING-CRAWLING ALONG THROUGH UNDERGROWTH, THROWS HANDS GRENADE, OFFICER DIRECTING FIRE OF RIFLE FIRED BY SOLDIER. PLANES PASSING OVER HEAD, CU BREECH OF COASTAL CAMOUFLAGED GUNS, FIRING SAME, HITS ON BEACH, GS OF BEACH WITH JUNGLE FORE, ALSO GS OF COAST FROM SEA, WITH EXPLOSIONS OCCASIONALLY. 06:12:07 BMT ISSUE 727A JAPANESE CONVOY ANNIHILATED FIRST REPORT OF A VICTORY IN THE PACIFIC, THE JAPANESE HAVE BEEN BEATEN BACK IN NEW GUINEA. THE RAAF AND THEIR AMERICAN COMRADES CARRIED OUT THE RAID ON A JAPANESE TROOP CONVOY. MAPS OF THE FAR EAST, ALSO AERIAL PHOTOS OF CONVOY ASSEMBLED OF RABAUL, ANOTHER MAP OF PACIFIC. LS OF CONVOY. KITTYHAWKS LINED UP ON AERODROME SSV. PILOTS BRIEFING OPEN AIR. INSTRUCTIONS BOARD, GROUP OF PILOTS RUN TO PLANES, BOSTONS & MITCHELLS TAKE OFF & ALSO FLYING AT SPEED. FLYING FORTRESSES FLYING INTO CAMERA. KITTYHAWKS, BEAUFIGHTERS, BOSTONS, IN FLIGHT, ALSO LIGHTNING. AERIAL SHOT OF LIBERATOR (LOOK DOWN SHOT BACKGROUND BEING GROUND). AERIAL LS OF CONVOY. CU BOMB DOORS OPENING, & BOMBS DROPPING OUT, & FALLING. FORMATION OF BOSTONS FLYING OVER BURNING SHIPS. VARIOUS AERIAL SHOTS OF CONVOY, SOME OF THE SHIPS SMOKING ALIGHT. INTERIOR - PILOT OF BOMBER, LOOKING BACK AT REAR GUNNER. FIGHTER MACHINE GUNNING SMALL CRAFT, GOES IN THREE TIMES BEFORE GETTING DIRECT HIT, SHOT FROM ATTACKING PLANE. LS BURNING CONVOY. BACK VIEW OF PILOT. KITTYHAWK DOES VICTORY ROLL FINISHES WITH FORMATION OF BEAUFIGHTERS WITH AMERICAN & AUSTRALIAN FADING IN & OUT. 06:17:02 BMT (FROM TUNISIA - VICTORY COMPLETE) GOOD STOCK SHOTS OF DWIGHT EISENHOWER 06:17:31 BMT ISSUE 731 (6/7/43) CHURCHILL TO CONGRESS - WINSTON CHURCHILL ADDRESSED THE UNITED STATES CONGRESS (PARTIAL) MS OF CHURCHILL ADDRESSING CONGRESS (SOUND), CUT-INS OF CROWD APPLAUDING, CHURCHILL FINISHED WALKS OFF STAND & GIVES 'V' SIGN. GS OF STANDM (ROSTRUM) THE SPEAKER BEING MR SAM RAYBURN, ON CHURCHILL'S RIGHT IS MR WALLACE. GS IN GARDEN ROOSEVELT & CHURCHILL OFFICERS STANDING ROUND THEM, CU CHURCHILL VG. CU ROOSEVELT VG & CU BOTH. GS OF PAN OF GROUND WHICH INCLUDES IN ADDITION BROOKE, PORTAL, ARNOLD, MARSHALL & SOMERVILLE. CHURCHILL SOUND "THE HUN IS ALWAYS EITHER AT YOUR THROAT OR YOUR FEET." 06:18:59 BMT ISSUE 731A (6/10/43) GIRAUD AND DE GAULLE MEET AND AGREE THE FIRST NEWS OF GENERAL DE GAULLE'S ARRIVAL IN ALGIERS FOR HIS MUCH POSTPONED MEETING WITH GENERAL GIRAUD. CUT STORY - DOUGLAS PLANE LANDING ON AERODROME, GENERAL DE GAULLE OUT OF PLANE, CU OF DE GAULLE & GIRAUD, INDIVIDUALLY & TOGETHER. MS OF DE GAULLE BY CAR, & CLIMBS IN. GIRAUD & EISENHOWER WALKING PAST GUARD OF HONOUR OF FRENCH TROOPS, GS OF GIRAUD CONFERRING THE GRAND CROSS OF THE LEGION OF HONOUR TO EISENHOWER, GIRAUD THEM PLACES HIS SWORD ON EACH OF EISENHOWER'S SHOULDERS, & KISSES HIS TWO CHEEKS. 06:19:55 BMT ISSUE 731A (6/10/43) PREMIER'S "THANKS FOR VICTORY" VISIT MR CHURCHILL VISITS NORTH AFRICA TO SAY THANKS TO THE VICTORS (PARTIAL) MS CHURCHILL, EISENHOWER & MARSHALL, BROOKE & EDEN. CU SV OF CHURCHILL TO FINISH. KEYWORDS; SIR WINSTON CHURCHILL; FIELD MARSHAL SIR ALAN FRANCIS BROOKE, 1ST VISCOUNT ALANBROOKE; AIR MARSHAL SIR ARTHUR CONINGHAM; GENERAL GEORGE CATLETT MARSHALL; FIELD MARSHAL; ; DWIGHT D EISENHOWER 06:20:58 BMT ISSUE 732 (6/14/43) MASS LEASE/LEND FOR RUSSIA WAR MATERIALS ARRIVE AT A PERSIAN PORT FROM AMERICA EN ROUTE FOR RUSSIA. GENERAL SHOTS OF IRANIAN QUAY LOADED WITH VARIOUS SUPPLIES FOR RUSSIA, STACKS OF FOOD, INCLUDING HORMEL LUNCHEON MEAT (SPAM) PACKED IN CASES ETC. VARIOUS COMPONENT PARTS OF RAILWAY TENDERS, BEING UNLOADED FROM SHIPS, CU RUSSIAN BOOKING SAME IN. BOSTONS BEING ASSEMBLED, & LINE OF BOSTONS, ALSO LINE OF KITTYHAWKS. ELEVATED PAN OF CASES OF AIRCRAFT COMPONENTS IN CASES. GS OF LORRIES WHICH HAVE BEEN ASSEMBLED. FEW START OFF ALONG ROAD. PAN OF STACKS & STACKS OF SUPPLIES AT PORT. (IN CUT STORY THERE IS A CU OF THE AMERICAN YELLOW STAR - ON PLANE - BEING PAINTED OVER IN RED COLOUR). SHOT OF RUSSIAN PILOTS WHO WILL FLY AMERICAN PLANES BACK TO USSR. 06:22:52 BMT ISSUE 733 (6/21/43) TWENTY FIVE NOT OUT THE FLYING FORTRESS MEMPHIS BELLE HAVING COMPLETED TWENTY FIVE MISSIONS OVER ENEMY OCCUPIED EUROPE IS RETURNING TO THE UNITED STATES. DEVERS & EAKER ADDRESS CREW OF MEMPHIS BELLE & OTHER PERSONNEL (SHOT OF WOMAN PAINTED ON PLANE). EAKER WALKING PAST FORTRESS. GS OF PARADE. CU FUSELAGE SHOWS HOW MANY ENEMY PLANES & RAIDS THEY HAVE TO THEIR CREDIT. GS OF INSPECTION. TAKING FROM INSIDE PLANE, CREWS LUGGAGE BEING THROWN IN CENTRE GUN TURRET WINDOW, (INTO CAMERA). ELEVATED SHOT OF HAND SHAKES IN GENERAL & DE-BAGGING OF PILOT. MS OF PILOT & NAVIGATOR INSIDE PLANE. SV TAKE OFF OF FLYING FORTRESS, & VARIOUS SHOTS IN AIR. 06:24:39 BMT ISSUE 733 (6/21/43) MALTA IN REVERSE - PANTELLERIA'S ECLIPSE (ONLY MALTA PART TRANSFERRED) DESPITE TERRIFYING ODDS THE ISLAND OF MALTA HELD OUT AGAINST THE AXIS AND NOW THE SITUATION IS BEING REVERSED AS THE ALLIES POUND PANTELLERIA. CUT STORY - VARIOUS SHOTS OF THE BOMBING OF MALTA, AERIAL SHOTS OF BOMBING. MERCHANT SHIP ENTERING HARBOUR, ABOVE IS LIBRARY MATERIAL 06:27:18 BMT EXTRANEOUS FOOTAGE OF THE ROYAL FAMILY WALKING IN THE COUNTRYSIDE, KING GEORGE VI, EQUUEN ELIZABETH THE ROYAL CONSORT, PRINCESS ELIZABETH, PRINCESS ANNE. 06:27:26 BMT ISSUE 741A (8/19/43) SUBMARINE WARFARE - ONE A DAY MORE AND MORE U-BOATS ARE BEING SUNK, MAKING IT EASIER FOR THE ATLANTIC CONVOYS TO GET THROUGH. AERIAL SHOT OF CONVOY, WIRELESS OPERATOR SENDS OUT MESSAGE, THAT ENEMY SUBS SIGHTED, AMERICAN (EITHER DAUNTLESS OR AVENGER) PLANE TAKE OFF FROM CARRIER, ANGLE SHOTS & OUT OF CAMERA. SHOTS OF FLYING OVER SEA, SUBMARINE SIGHTED, GUN BLAZING, HITS REGISTERING, CU BOMB LEAVING PLANE, STILL OF U-BOAT WITH DEPTH JUST ENTERING WATER (NEAR MISS) & SOME OF CREW ON DECK OF SUB. ANOTHER SUB SIGHTED, AERIAL SHOTS OF HITS & BOMBS FALLING NEAR & DIRECT HITS, SUB HALF SUBMERGED. 06:29:05 BMT ISSUE 742 (8/23/43) US SHIPYARD BREAKS RECORDS ALSO TANK STORY THE HENRY KAISER PACIFIC COAST SHIPYARDS ARE TURNING OUT POCKET AIRCRAFT CARRIERS. LADY HALIFAX, WIFE OF THE BRITISH AMBASSADOR, LAUNCHED ONE OF THEM, THE 'NATONA BAY. GS - AIRCRAFT CARRIER NATONA BAY BEFORE LAUNCHING. MS LADY HALIFAX LAUNCHING SAME, DOWN RUNWAY, OUT OF CAMERA. SHOT OF CARRIER AT SEA, ALSO THE WOLVERINE YOU WILL NOTICE THAT SHE HAS PADDLES. CU OF PADDLES WHILE UNDER WAY. AERIAL SHOT OF CARRIER. NIGHT SHOTS OF KAISER SHIPYARD, LIGHTS FULL ON, VARIOUS SHOTS; RIVETERS AT WORK, THROWING RIVETS ABOUT ETC., ALSO WELDERS AT WORK. END TAPE

AUTO RACING 2

FTG FOR BILL WEIR CS VO ON CANADA'S OIL CALLED BITUMEN, OIL THAT HAS TO BE STRIP MINED OR STEAMED AND PUMPED FROM THE EARTH, PRODUCING THIS TYPE OF OIL, CREATES TWO TIMES GLOBAL WARMING POLLUTION OF CONVENTIONAL CRUDE / FOR EVERY BARREL OF OIL THEY USE UP TO FOUR BARRELS OF WATER, WHICH IS THEN DUMPED INTO MANMADE TOXIC RESERVOIRS. TAR SANDS. Weir/Herman Calgary, Canada Crew: Layne Bauer, Mike Myrden 6/24/08 Tape 4 Interview with Dan Woynillowicz, Pembina Institute - Continued Set up shots 4:00:30 low angle, ducks in foreground, Bill/Dan in background 2:09 walking from under bridge to camera 02:20 Dan- Well, and at the end of the day for us, you know, we're non-partisan, we're not ideological, and you know, we kind of say, we don't care if you're big government or small government, we want good government. You know, and there is a lot a government can learn from the business sector around, you know, being more efficient, but ultimately, we need some leadership to say, "What are the most effective policies? How do we actually." 2:42 rack focus from leaves to Bill/Dan walking on path 02:40 Dan- They might have, you know, 10 to 20 wells. They've got 2 above ground pipelines that've got a road going up to it. So you've got this spider web effect where the forest becomes so fragmented that it's no longer useable habitat for any of the species that live in the Boreal. //Right// So you're, you're essentially sterilizing the forest, so yeah, you still see more trees than an open pit mine, but your end effect is the same. [Dan and Bill walk through park] 2:59 tilt down to shoes 03:01 Bill- Yeah, and how about natural gas, how much of that do you have to burn? 3:22 move from leaves to both walking 03:23 Dan- It's really reverse alchemy-it's taking gold into lead. We're taking our cleanest burning fossil fuel and reusing it to produce one of our dirtiest, and so are there better uses for natural gas within our economy. 03:45 Dan- And so one of shell's [man says ok in background] projects was the best project, but they had some of their other projects rank closer to the bottom. And what's troubling is that the project that ranked the best was their first, and it was their more recent ones where they're sliding a little bit in their environmental performance. And I think that's actually a very good example of the fact that they stuck their necks out with that first one. They did more than they had to do, um, the government didn't come along and say, oh, you can do that, but we're going to make everybody else do that too. The government left the bar low, and so, you know, I think shell said why are we going to spend more money again as costs are rising if we can do less, and still be allowed to get this oil out of the ground. //Wow.// So that's, you know, a clear example of where the government didn't show leadership to say hey, it's technologically and economically feasible to achieve this superior level of performance that's the new standard. 4:00 wide shot walking from bridge, push in to tighter shots - walk by Interview with David McColl, Canadian Energy Research Institute 05:30 Bill- From a global, historical perspective, how big is this boom going on up here. [Hear cars in background] 05:36 David- We're talking big. The oil sands was a, a dream 30 years ago, and now we're looking at a resource that's internationally recognized [cars zoom] 270 billion barrels of oil that's recoverable, and we've seen resources just move north all throughout, you know, the United States, up to Canada, everybody is moving to Fort McMurray to get this resource out of the ground, 'cause let's face it, we need hydrocarbons to power our economy and to have the cars that we so desperately rely on to move on the streets. 06:06 Bill- People are getting very rich, very fast. 06:09 David- Well, I think a lot of people are, and that also applies to the Alberta economy. The Alberta economy is getting very wealthy, and so is the Canadian economy. Eighty percent of the total investments that go into the oil sands happens in Alberta. The rest is spread throughout Canada and some to the United States. And I think as more and more companies move to the oil sands, the benefits will spread more evenly across Canada and the rest of the world. 06:34 Bill- Uh, you touched on a little bit, but this , is this kind of considered a pool of errand(?) 20 years ago, these oil sand speculators up here, everyone thought they were crazy, or what? 06:45 David- Well, I think 30 years ago, 20 years ago, some people might have thought, this doesn't make too much sense. I remember 10, 15 years ago talking about Suncor and saying, you know what that's going to make a lot of sense in 15 years, and lo and behold, here's where we are. We're running out of cheap oil, we're not out of oil, but out of cheap oil, so that means that we have more expensive oil. And the Alberta government invested heavily in helping to develop this resource and it's a phenomenal success story of government and industry R&D cooperation. 07:13 Bill- But there is some costs to. I mean, what are, what are the most egregious costs to this boom? 07:19 David- Well, we know that there are social issues. That's one of the costs--how do you manage rapid development and the pressures in place on a regional infrastructure, and also provincial infrastructures. We have some labor shortages, there are some drug addiction problems, and the cost of living in Fort McMurray is exorbitant when you think about just the rent that some people pay-a thousand plus dollars a month for a very, very tiny hole in a garage almost. 07:43 Bill- Right, uh, if it continues at this current spring, what's the worst that can happen? 07:50 David- Well, I think the worst that will happen is that it'll just go down. Market factors already come in place-we're seeing increase in costs of labor, increase in costs of living, there's only so much labor to go around, it's only so mobile, so we just see a slow down. I think what we'll see is a slow down in the development in the resources. That's, that's the worst that'll happen. [Motorcycle, cars] There are social issues that surround this, but we're really going to see a slow down and a slight contraction, if we can't get the labor, if costs continue to skyrocket. 08:18 Bill- Uh, there's the infamous, I guess, paragraph 5 26 in the US energy policy, you got the council of mayors saying we don't want your dirty oil, what will happen if Canada's biggest customer right next door decides we don't want this stuff any more? 08:35 David- Well, that's the beauty of a fungible commodity. It will go somewhere else. You know, China needs oil, India needs oil. So that can be sent elsewhere. But what I think is important on that issue of the oil, is this is often being done under the guides of dirty oil. So what I think is really important is, first of all, acknowledgement-yes, the oil sands produce about 80 percent more greenhouse gases than conventional oil, but keep in mind, you know, Canada has an excellent track record for regulation. You know, people can intervene and challenge the developments and say, "Hold on we think you need to do something differently." Now compare that to OPEC, compare that to Algeria, and Angola, you know, those are nations who are really producing blood oil. Think about blood diamonds, conflict diamonds, this is conflict oil from these countries. So it's one thing to take a step and say, you know what, there's 80 percent more greenhouse gas emissions we don't necessarily want this oil. But on the same token, if you're filing up your gas tank with blood oil, a red barrel. 09:35 Bill- Right, we're scraping the bottom off of the tarry muck, at least it comes from friends. 09:41 David- Well, I think , it makes sense, it's viable to [inaudible from cars] prices, you know, oil, [mumbles] we've run out of cheap oil, we're running out of cheap oil, so it does make sense, and there are a lot of technological advances that will hopefully take place over the next 10, 20 years 'cause, remember, a lot of the oil sands are still what the economists would call an infant industry. You know, they're still learning the process. So as we learn and as we improve, hopefully we'll be able to reduce the energy that eventually goes into producing a barrel of bitumen, and therefore, reduce the greenhouse gas emissions. 10:12 Bill- Yeah, um, what price you know what is the dollar per barrel price that it would have to stay in order for this to make sense from a business perspective? 10:24 David- Well, we've looked at it for a reasonable rate of return of about 10 percent. You know, it's going to vary from company to company. But you're probably sitting around 70 to 80 dollars, US equivalent, barrel range. Now that's over a 30 year period. But what it also assumes is that you're going to have a stable price and stable costs. As costs continue to rise, you know, it costs you more money to fill a tank of gas [car noise] it also costs more money for an oil sands operator to run their facility. So we're probably setting 70, 80 dollars and if costs continue to push, it'll eventually be 90 dollars. 10:56 Bill- Right, we're standing in front of a gas station, we've got a fine Canadian gas station. And if I do my metric conversation correction. A buck 33 a liter, that's about 5 dollars a gallon. Why isn't it cheaper here if you've got all of this fantastic oil? 11:13 David- Well, when you think about it, oil is a global commodity. So it's priced on a global market. A lot of refined petroleum products, again [car] we have very integrated markets within North America. What really pushes up the prices here in Canada to a degree is taxation, so the level of taxes actually impacts the final price at the pump. Now in the US, you might see really expensive gas-well, it's far more expensive in Canada. But when look over to Europe, and you see the amount of taxes that on their petrol or gasoline, this is really cheap gas here. So while it is expensive, again we do have to keep in mind that there's a whole set of factors in there. The feed stock (?), the price of oil goes up, their inputs are going up [cars]. So it really is trickling through the economy. 11:57 Bill- Uh, this is a very American sort of egocentric question. But what is all of this mean to me-what does it mean to us, American drivers? 12:07 David- Well, a lot of people talk about switching to electric vehicles, switching to hydrogen powered vehicles, that's a long ways away. That's a long way down the chain. And until we get there, you're still going to need oil. You're going to need oil to (lead to?) gasoline and to do that, you need less feedstock. And again, Angola, Nigeria, Saudi Arabia, these countries can't really increase their production to the degree that's needed. The oil sands, 172 billion barrels. Right now, we're producing just over a million barrels, we could go up to 5 million barrels a day in 20 to 30 years depending on how things happen. So what does it mean to the American consumer? It means, you actually have a stable supply source of oil entering into the US to help support the economy. And you can even take that the next step further and say well, ok, maybe we can get our oil from elsewhere. There's also technological innovation that will come. What we learn in the oils sands, specifically in the carbon(age?), a lot of that could actually should be parallel to the oil shale in the US so suddenly, you know, Canada and the advancement of technologies here in extracting the resources, ends up helping and extracting your own resources. 13:18 Bill- You discover some technological gadget that allows us to get all of that oil shale. 13:23 David- Yeah, and I think there are some parallels, they're not identical, but there are some parallels that may actually help the development of that resource. Only time will tell, but at the end of the day, American needs oil, and Canada is a well-regulated entity, especially here in Alberta, to provide that oil. It is clean in the sense of, this isn't conflict oil. There are emissions, yes, but there's ways to actually deal with those emissions. 13:48 Bill- But, aside from the emissions, it is trashing the environment out here. Ten, 15, 50 years will it have been worth it, if all of Alberta looks like mose(?) gate? 14:00 David- Fortunately the oil sands are spread out throughout Alberta. But when you think about the moonscape, typically that's the tailings ponds you see. Now it's actually very timely that you ask that question, because the Alberta government sent out a proposal today, a request for proposal, to actually look at ways to reduce the tailing ponds. How can we actually clean up those tailings ponds, clean the muck that is left over, to really return the landscape to reasonable use? You know, from a Boreal wetland to a Boreal forest for example, and it's going to take time. When you think about uh, you know, coal-fired power plants. They came on, they were very dirty in the industrial revolution. It took time to clean them up and reach the point today where we could potentially sequester some of the emissions from those plants. 14:45 Bill- That, those are viable plans you think. that could happen soon? 14:48 David- I think it can happen in time. You know, it's not going to happen overnight. And patience is required in understanding that these are multi-billion dollar projects. There's huge investments, and they're going to be around 30 to 60 plus years. So there's a lot of time for the government and for industry to start reinvesting in economic rents (?) that they have taken that was part of exploring this resource, into cleaning up these tailing ponds and improving the environment. 15:16 Bill- What are oil sands doing with the huge amount of royalties in Alberta? The manufacture loses in the east, does this help, you know, the inflation here. What's it doing overall to the Canadian economy? 15:30 David- Well, we have a hunch that it's actually you know, shifting a little bit of it. In a sense, you know, years ago, you do a lot of the manufacturing you couldn't do in Alberta, so now because of rising costs and labor shortages in the provinces, we're actually moving some of that investment out into Ontario. So while there might be shut down at General Motors in plants in Ontario, it's possible that some of those skilled laborers could potentially come to Alberta and help advance resource, and then bring in some more, uh, money for their families, and there can be some trade-offs with that. And I think that the way the oil sands is helping Canada, we know the Maritimes out on the west coast, or I'm sorry, our east coast, a lot of their workers have come over here and are helping to advance this resource. And it's a win-win story. It's a question of how can government and industry work together to find a solution. McColl set up shots 16:37 reverse shots to Weir 16:47 David [his back to camera]- There's no silver bullet. It's a case of testing, trying new methods, sorting things out. And again, it's going to take a long time. And that's, that's the challenge that you have is well, what options are there? People have looked at nuclear, there's challenges, there's problems with it. It would get rid of all of the emissions but it doesn't fit for a lot of the applications, so you're out of luck there. What's your next option? [Camera alt focus between Bill and board w/ gas prices in background] 17:19 David- That's the challenge, it's take the time and saying, what will work and really making sure, because there is no silver bullet. That's the problem. And you know, everyone is focusing in on the oil sands because it's the easy to pick on, it's here in North America. But at the same time, there's all the challenges associated with those..The environmentalists are more than happy to say, oh, stop producing this fuel, but take a stop and say ok, what do you want us to do? [Camera moves back and forth from bridge to Bill and David]. 17:24 camera pans to traffic 17:53 traffic shots 18:08 wide shot to McColl, Weir on overpass Gas station 19:19 Front of pump 19:45 man filling up, prices Broll at park 21:06 ducks on water, 22:32 goose 22:58 pan of park and water Construction 23:30 crane cab 24:12 workers packing and leaving site 24:31 pan of rebar 24:40 pan across crane, slightly out of focus 25:04 pan across three cranes 25:29 reflection of crane in office building 26:15 rebar rack focuses Oil Company buildings 27:35 Shell logo on top of building 28:18 Suncor exterior 30:20 BP exterior 31:38 Shell exterior PetroCanada ---------------------------------------------------------------

WWII BOMB DAMAGE IN JAPAN

FTG OF PRESIDENT BARACK OBAMA DELIVERS REMARKS ON RESPONSIBLE HOMEOWNERSHIP IN PHOENIX, ARIZONA / HEAD ON President Barack Obama remarks on responsible homeownership in Phoenix, Arizona / STIX DC Slug: 1530 WH AZ PATH1 RS33 73 AR: 16x9 Disc #603 NYRS: 5114 (Cheers, applause.) 15:58:10 PRESIDENT BARACK OBAMA: Hello, Phoenix. (Cheers.) Hello, Arizona. (Cheers.) It is -- it -- I love you back. It is good to be here. (Cheers.) I want to say thank -- I want to say thank you to the thunder for hosting us here today. (Cheers.) Well, we -- we are so glad to be here. I -- I -- I want you to give it up for somebody who's been fighting for homeowners and working families every single day who's with me today, Secretary Shaun Donovan, Secretary of HUD. There he is right there. Give him a big round of applause. (Cheers, applause.) We've got Congressman Ed Pastor is here as well. (Cheers, applause.) We got your mayor, Greg Stanton, here -- (cheers, applause) -- doing an outstanding job. And to all the mayors and state legislators and tribal leaders who are here today, thank you. (Cheers, applause.) Give Jorge (sp) a big round of applause for his introduction -- (cheers, applause) -- to your superintendent, Dr. Kenneth Baca -- (cheers, applause) -- your principal, Dr. Anna Battle -- (cheers, applause) -- and I appreciate everybody at Desert Vista for having me here today. (Cheers.) You know, it is good to see the students are pretty enthusiastic about being back in school. (Laughter.) I'm not sure I would have that enthusiastic starting on the 6th. And I know this isn't your typical school -- second day of school. So I -- I -- I want to give a special shout-out to the new seniors, class of 2014. (Cheers, applause.) You are aware that you're not finished yet. (Laughter.) 16:00:10 You know, senior year, that's sometimes tempting. I want you all to stay focused. You know, over the past couple weeks, I have been -- AUDIENCE MEMBER: Happy birthday, Mr. President. PRESIDENT OBAMA: Thank you very much. (Cheers, applause.) It was my birthday two days ago. 16:00:42 AUDIENCE MEMBERS: (Sings happy birthday.) PRESIDENT OBAMA: Got some singers here. AUDIENCE MEMBERS: (Sings happy birthday.) (Cheers, applause.) PRESIDENT OBAMA: Thank you. Thank you. I am -- I'm now 52. And Michelle says I don't look a day over 51. (Laughter.) 16:01:14 So -- (chuckles) -- so over the last few weeks I've been visiting towns all across the country talking about what we need to do to secure a better bargain for the middle class -- a national strategy to make sure that everybody who works hard has a chance to succeed in the 21st century economy. 16:01:35 And I think people in Arizona especially understand the challenges that are out there because, you know, for the past four and a half years, together we fought our way back from a devastating recession that cost millions of jobs for Americans. A lot of folks lost their homes. A lot of folks lost their savings. And what the recession showed was the long erosion of middle-class security that had been taking place for decades. 16:02:02 But we fought back. We took on a broken health care system. We took on a housing market that was in free fall. We invested in new technologies to reverse our addiction to foreign oil. We changed a tax code that had become tilted a little bit too much in favor of the wealthiest Americans at the expense of working families. (Cheers, applause.) We've saved the auto industry. We've now got GM that plans to hire a thousand new workers right next door in Chandler to make sure we're building some of the best cars in the world right here in the United States of America. (Cheers, applause.) 16:02:39 Our businesses have created 7.3 million new jobs over the last 41 months. We now sell more products made in America to the rest of the world than ever before. Our exports are way up. We produce more renewable energy than ever before, more natural gas than anybody else. Health care costs have been growing at the slowest rate in 50 years. And our deficits are coming down at the fastest rate in 60 years. (Cheers, applause.) So we're making progress. 16:03:12 So -- so thanks to the efforts of a lot of people like you, we've cleared away the rubble of the financial crisis, we're starting to lay the foundation for more stable, more durable economic growth. But as any middle-class family will tell you, we're not yet where we need to be, because even before the crisis hit, we had lived through a decade where a few at the top were doing better and better, but most families were working harder and harder just to get by. 16:04:15 And reversing this trend should be, must be Washington's highest priority. It's my highest priority. (Scattered cheers and applause.) AUDIENCE MEMBER: Right! PRESIDENT OBAMA: I want to make sure that in America it doesn't matter what you look like, where you come from, who you love; you should be able to make it when you try, should be able to make it. (Cheers, applause.) Now, unfortunately, for the last year or so we've had an endless parade of distractions and political posturing and phony scandals that shift focus away from what do we need to do to shore up middle-class families and create ladders of opportunity for folks to get into the middle class. And as Washington heads towards another budget debate, the stakes could not be higher. 16:04:34 And that's why I'm traveling around laying out my ideas for how we have to build the cornerstones of what it means to be middle class. A good job with good wages. A home to call your own. A good education. Affordable health care that's there for you when you get sick. A secure retirement even if you're not rich. The opportunity -- the ladders of opportunity for people to earn their way into the middle class, to work their way out of poverty. Those are the -- those are the elements that I think all of us believe in, but right now we're not delivering as much as we should on those promises. 16:05:20 Now, last Tuesday I went to Tennessee to talk about the first cornerstone, which is how do we make sure that we're creating good middle-class jobs here in the United States of America. Today I've come to Phoenix to talk about that second component, which is the most tangible -- tangible cornerstone that lies at the heart of the American dream, at the heart of middle-class life, and that's the chance to own your own home. (Cheers, applause.) The chance to own your own home. We got a lot of young people here, you know, who are thinking about college. You know, they're going to get a higher education; they're going to find a job; they're going to find somebody they love; they're going to want to own a home. 16:06:14 And the reason they will is because a home is the ultimate evidence that, here in America, hard work pays off, that responsibility is rewarded. You know, I think about my grandparents' generation. When my grandfather served in World War II, he fought in Patton's Army. When he got back, this country gave him a chance to go to college on the GI bill, but it also gave him a chance to buy his first home with a loan from the FHA. To him, and to generations of Americans before and since, a home was more than just a house, it was a source of pride and a source of security. It was a place to raise kids, to put down roots, a place to -- where you could build up savings for college, or to start a business, or to retire with some security. And buying a home required responsibility on everybody's part. You had to save up to buy a home, and then banks were supposed to give you a fair deal with terms you could understand, and buyers were supposed to live within their means and make sure that they could make their payments. So in that earlier generation, houses weren't for flipping around. It wasn't for speculation. Houses were to live in, and to build a life with. 16:07:26 And unfortunately, over time, responsibility too often gave way to recklessness. You had reckless lenders who sold loans to people they knew couldn't afford them. And let's face it: We also had some reckless buyers who knew they couldn't afford them and still took out loans. And all this created a housing bubble. And especially in some places like Arizona, it was devastating when that bubble finally burst. It triggered a recession, millions of Americans who had done everything right were hurt badly by the actions of other people. Housing prices plummeted. By the time I took office, home values had fallen almost 20 percent from the year before. New housing starts had fallen nearly 80 percent from their peak. Hundreds of thousands of construction workers had lost their jobs. A record number of people were behind on their mortgage payments. And you know, a lot of people here in Phoenix, they saw that devastation. Now, this -- this was part of Ground Zero for the -- for the housing bubble bursting. 16:08:34 So less than a month after I took office, I came here to Arizona, and I laid out steps to stabilize the housing market and help responsible homeowners get back on their feet. And the truth is it's been a long, slow process. The housing market's so big that it was going to take some time to heal when it got hurt that badly. It's taken longer than any of us would like. But during that time we helped millions of Americans save an average of $3,000 each year by refinancing at lower rates. We helped millions of responsible homeowners stay in their homes, which was good for their neighbors because you don't want a bunch of foreclosure signs in your neighborhood. 16:09:16 Where Congress wouldn't act, we went ahead and acted. So over the past few years, we had the Department of Justice stand up for buyers who were discriminated against or conned by predatory lending, and we won a settlement that gave more money to victims of discrimination in one year than in the previous 23 years combined. We worked with states to force big banks -- (cheers, applause) -- we worked with states to force big banks to repay more than $50 billion to more than 1.5 million families -- largest lending settlement in history. (Cheers, applause.) We extended the time folks who had lost their jobs could delay payments on their mortgages while they keep looking for work. We cracked down on the bad practices that led to crisis -- led to the crisis in the first place. I mean, you had -- you had some loans back during the bubble that were called liar's loans. Now, if something's called a liar's loan, it's probably a bad idea. (Laughter.) 16:10:27 So because of all these actions we've been taking, our housing market is beginning to heal. Home prices are rising at the fastest pace in 7 years. Sales are up nearly 50 percent. Construction is up nearly 75 percent. New foreclosures are down by nearly two-thirds. Millions of families have been able to come up for air. They're no longer underwater on their mortgages. (Cheers, applause.) And just like the crisis hit Phoenix very hard, thanks to some great leadership here locally, Phoenix has also led one of the biggest comebacks in the country. (Cheers, applause.) So you should be proud of what you've done here. Home prices in Phoenix have risen by nearly 20 percent over the last year. New home sales are up by more than 25 percent. This morning I -- right before I came here, I visited Erickson Construction. (Applause.) Say, we got some Erickson folks here. And they were explaining how right when the bubble hit, Erickson shrunk -- shrank to -- to less than a hundred workers. Today they're employing 580 people and they're hiring even more people -- (cheers, applause) -- because the housing market's bouncing back. So that's one of the things about housing. It's not important for the person who owns the house. Our economy is so impacted by everything that happens in the house. Consumers feel better when they're home values are in a better place. So they're more willing to spend. A lot of people who want to start a business, their savings may be locked up in their house. Construction workers, contractors, suppliers, carpet makers -- all these folks are impacted by the housing industry. So we've made progress, and that's helped to move the economy forward. 16:12:29 But we've got to build on this progress. We're not where we need to be yet. We got to give more hard-working Americans the chance to buy their first home. We have to help -- (applause) -- we have to help more responsible homeowners refinance their mortgages because a lot of them still have a spread between the rates they're paying right now in their mortgage and what they could be getting if they were able to refinance. And we've got to turn the page on this kind of bubble-and-bust mentality that helped to create this mess in the first place. We've got to build a housing system -- (applause) -- that is durable and fair and rewards responsibility for generations to come. That's what we've got to do. (Sustained applause.) 16:13:13 So I've already put forward a bunch of ideas that will help to accomplish that. And, you know look, the fact of the matter is, Congress hasn't acted on them, so I'd like you to encourage members of Congress to -- to take some of these actions. (Cheers, applause.) But like -- like the other actions that -- that we've taken, these will not help the neighbors down the street who bought a house that they couldn't afford and then walked away from it and left a foreclosed home behind. We don't to help speculators who bought multiple homes just to make a quick buck. 16:13:52 What we want to do is put forward ideals that will help millions of responsible, middle-class homeowners who still need relief, and we want to help hard-working Americans who dream of owning their own home fair and square, have a down payment, are willing to make those payments, understand that owning a home requires responsibility. And there are some immediate actions we could take right now that would help on that front, that would make a difference. So let me just list a couple of them. 16:14:22 Number one, Congress should pass a good bipartisan idea to allow every homeowner the chance to save thousands of dollars a year by refinancing their mortgage at today's rates. We need to get that done. (Cheers, applause.) We've been talking about it for a year and a half, two years, three years. There's no reason not to do it. 16:14:43 Step number two, now that we've made it harder -- harder for reckless buyers to buy homes that they can't afford, let's make it a little bit easier for qualified buyers to buy the homes that they can afford. (Applause.) So Shaun Donovan has been working with the finance industry to make sure we're simplifying overlapping regulations, we're cutting red tape for responsible families who want to get a mortgage but keep getting rejected by the banks. We need to give well-qualified Americans who lost their jobs during the crisis a fair chance to get a loan if they've worked hard to repair their credit. 16:15:25 And step three is something that you don't always hear about when it comes to the housing market, and that is fixing our broken immigration system. (Cheers, applause.) It would actually help our housing market. It's pretty simple. When -- when more people buy homes and play by the rules, home values go up for everybody. And according to one recent study, the average homeowner has already seen the value of their home boosted by thousands of dollars just because of immigration. And the good news is, with the help of your senators, John McCain and Jeff Flake, the Senate has already passed a bipartisan immigration bill that's got the support of CEOs and labor and law enforcement. (Cheers, applause.) This could help homeownership here. So I want you to encourage Republicans in the House of Representatives to stop, you know, dragging their feet; let's go ahead and get this done. 16:16:29 Step number four, we should address the uneven recovery by rebuilding the communities hit the hardest by the housing crisis, including many right here in Arizona. Let's put construction back -- construction workers back to work repairing rundown homes, tearing down vacant properties, so that the value of homes in those surrounding areas start picking up. We can put people to work right now -- (applause) -- and improve the remaining housing stock that's out there. (Cheers, applause.) Now, places that are facing a longer road back from the crisis should have their country's help to get back on their feet. 16:17:17 Step five, we should make sure families that don't want to buy a home, or can't yet afford to buy one, still have a decent place to rent. You know, we -- (applause) -- it's important for us -- it's important for us to encourage homeownership, but a lot of people rent, and there's nothing wrong with renting. And we got to make sure that we are creating affordable opportunities when it comes to rental properties. In the run-up to the crisis, banks and governments too often made everybody feel like they had to own a home, even if they weren't ready and didn't have the payments. That's a mistake we should not repeat. Instead, let's invest in affordable rental housing. Let's bring together cities and states to address local barriers that drive up rents for working families. (Applause.) 16:18:04 So -- so if we help more Americans refinance their homes, if we help qualified families get a mortgage, we reform our immigration system, we rebuild the hardest-hit communities, we make sure that folks have a decent place to rent if they're not yet able to buy, all these steps will give more middle-class families the chance to either buy their own home now or eventually buy their own home. It's going to give more relief to responsible homeowners. It gives more options to families who aren't yet ready to buy. All that's going to improve the housing market and will improve the economy. But -- and this -- this is the last key point I want to make -- as home prices rise, we can't just re-inflate another housing bubble. I mean, everybody -- I hope everybody here in Arizona learned some -- some hard lessons from what happened. Housing prices generally don't just keep on going up forever at the kind of pace that it was going up. It was crazy. So what we want to do is something stable and steady and that's why I want to lay a rock-solid foundation to make sure the kind of crisis we went through never happens again. We've got to make sure it doesn't happen again. (Applause.) 16:19:28 And one of the key things to make sure it doesn't happen again is to wind down these companies that are not really government, but not really private sector; they're known as Freddie Mac and Fannie Mae. You know, for too long, these companies were allowed to make huge profits buying mortgages, knowing that if their bets went bad, taxpayers would be left holding the bet. It was heads, we win; tails, you lose. And it was wrong. And along with what happened on Wall Street, it helped to inflate this bubble in a way that ultimately killed Main Street. 16:20:04 So the good news is right now there is a bipartisan group of senators working to end Fannie and Freddie as we know them. And I support these kinds of reform efforts, and -- and -- and they're following four core principles for what I believe this reform should look like. First, private capital should take a bigger role in the mortgage market. I know that sounds confusing to the folks who call me a socialists. I think I saw some posters there on the way. (Laughter.) But -- but I actually believe in the free market. And just like the health care law that we put in place, "Obamacare," which -- (cheers, applause) -- which, by the way -- which, by the way, if you don't have health insurance or you're buying it at exorbitant rates on the individual market, starting on October 1st, you can join a marketplace and be part of a pool that gives you much lower premiums, saves you a lot of money. (Cheers, applause.) But in the same way that what we did with health care was to set up clear rules for insurance companies to protect consumers, make it more affordable but still built on the private marketplace, I believe that while our housing system should operate where there's a limited government role, and private lending should be the backbone of the housing market. And that includes, by the way, community-based lenders who view their borrowers not just as a number but as a neighbor. So that's one principle. 16:21:39 The second principle is we can't leave taxpayers on the hook for irresponsibility or bad decisions by some of these lenders or -- or Fannie Mae or Freddie Mac. (Applause.) We've got to encourage the pursuit of profit, but the era of expecting a bailout after you pursue your profit and you don't manage your risk well, well, that puts the whole country at risk. And we're ending those days. We're not going to do that anymore. (Cheers, applause.) 16:22:15 Third principle is we should preserve access to safe and simple mortgage products like the 30-year fixed-rate mortgage. That's something families should be able to rely on when they're making the most important purchase of their lives. (Applause.) Number four, we've got to keep housing affordable for first-time buyers, like all these young people. When they're ready to buy a house, we got to make sure it's affordable. Families who are working to climb their way in the middle class -- we've got to do what we can to make housing affordable. And that means we've got to strengthen the FHA so it gives today's families the same kind of chance it gave my grandparents to buy a home, and it preserves those rungs of -- on the ladder of opportunity. And we've got to support, as I've said, affordable rental housing, and by the way, we've also got to keep up our fight against homelessness. (Cheers, applause.) You know, the mayor of Phoenix has been doing a great job here in Phoenix on that front. We've got to continue to improve it. You know, since I took office we helped bring 1 in 4 homeless veterans off the streets. (Cheers, applause.) We should be proud of that. Here in Phoenix, thanks to the hard work of everyone from Mayor Stanton to the local United Way to US Airways, you're on track to end chronic homelessness for veterans, period, by 2014. (Cheers, applause.) But we've got to keep going, because nobody in America -- and certainly no veteran -- should be left to live on the streets. (Cheers, applause.) 16:24:04 So -- so here's the bottom line. Put all these principles together -- that's going to protect our entire economy, and it'll improve the housing market, not just here in -- in Phoenix but throughout the state and throughout the country. We're also going to need to make sure, though, that we're protecting individual homeowners. We got to give them the tools they can protect themselves. So we've got a Consumer Financial Protection Bureau that we created. (Cheers, applause.) And it's laying down new rules of the road that everybody can count on when they're shopping for a mortgage. They're designing a new, simple mortgage form that will be in plain English so you can actually read it without a lawyer -- although you may still want a lawyer, obviously. I'm not -- I'm not saying you don't -- I'm just saying, you'll be able to read it. (Laughter.) There won't be a lot of fine print. That way you know before you owe. (Laughter.) And -- (cheers, applause) -- you know, the Senate finally confirmed Richard Cordray as the head of this -- head watchdog for the CFPB. (Cheers, applause.) So he's out there aggressively protecting consumers and homeowners. 16:25:22 Now, when it comes to some of the other leaders we need to look out for the American people, the Senate still has a job to do. Months ago, I nominated a man named Mel Watt to be our nation's top housing regulator. (Applause.) He is an outstanding member of Congress and during that time he was on the Housing Committee, worked with banks, worked with borrowers to protect consumers, to help responsible lenders provide credit. He is the right person for the job. Congress and the Senate should give his nomination an up-or-down vote without any more obstruction or delay. We don't have time for those kinds of games. (Applause.) 16:26:06 So I want to be honest with you. No program or policy is going to solve all the problems in a multi-trillion-dollar housing market. The housing bubble went up so high that the heights it reached before it burst were so unsustainable that we knew it was going to take some time for us to fully recover. But if we take the steps that I talked about today, then I know we will restore not just our home values but also our common values. We'll make owning a home a symbol of responsibility, not speculation; a source of security for generations to come, just like it was for my grandparents. I want -- I want it be just like that for all the young people who are here today and their children and their grandchildren. (Cheers, applause.) 16:27:06 And if we stay focused on middle-class security and opportunities to get into the middle class, if we take the strategy that I'm laying out for the entire economy -- for jobs and housing and education, health care, retirement, creating ladders of opportunity -- then we will secure that better bargain for all Americans where hard work is once again rewarded with a shot at a middle-class life, which means more Americans will know the pride of that first paycheck, more Americans will know the satisfaction of flipping the sign to open on their own business, more Americans will know the job of scratching the child's height on the door of their new home -- with pencil, of course. (Laughter.) 16:27:55 We can do all this if we work together. And it won't be easy. But if we take just a few bold steps, and if Washington will just end the gridlock, set aside the slash-and-burn partisanship, actually try to solve problems instead of scoring political points, our economy will grow stronger a year from now, five years from now, 10 years from now. (Cheers, extended applause.) And as long as I've got the privilege to serve as your president, that's what I'm going to be fighting for. 16:28:20 Thank you very much, everybody. God bless you. (Cheers, applause.)

Universal Newsreel

TVU 18 ANDREW YANG CONCORD NH MEET AND GREET ABC UNI 092819 2020 Yang held a meet and greet event in Concord, NH where he took questions from the crowd after delivering his stump speech. Yang talked about US-China relations, saying that it's harmful to think that "every good thing that happens for China is bad for us" TVU 18 (Check tape for exact quotes) 112605 One thing I will say is that it's bad for American interests to think that every good thing that happens for China is bad for us like really zero sum game mentality. Then you end up leading to a regional war and potentially other forms of conflict and tension over time. And that's a pattern we should not get into unless. There's a very very clear American national security interest that's being threatened. Yang then commented that China is leapfrogging the US in artificial intelligence. 112647 There is an old joke in artificial intelligence that went like this. How far behind is China and America. And the answer is 12 hours we go to sleep they wake up. But now they're in position to actually leapfrog us because they have more access to more data than we do. They also have another advantage which is that the Chinese government has essentially given these companies a blank check when it comes to computing infrastructure. Yang told the crowd that he did not support getting rid of the electoral college, but acknowledged that it did have some issues. He also mentioned that if we moved toward electing a president strictly on the popular vote, it would isolate rural communities like the ones prevalent throughout New Hampshire. He proposed instead, to allocate electors proportionally within each state. 113046 So here's a solution I would propose that I believe that you could get more states on board. And it is this that you have electors get allocated proportionally within the state. So this means that everything matters. This means that someone like me might even campaign in Mississippi or Alaska or someplace just like can't carve off one elector or it opens up the map and if it keeps the built in advantage of a place like North Dakota has that it has more electors than their population within the state which is really what their issue is. 113125 Because if you just made it popular the other problem with just saying popular vote and this is something that you all should understand here in New Hampshire, is the incentive of the campaign would all be in densely populated urban areas. There was a very cute moment when a baby girl started crawling toward Yang and stole the show for a few moments. 105731 Ooh, it's the littlest Yang Gang member. I don't even think she can vote for my re-election. I'm really glad mommy brought you though. ((hard to hear so please check tape on this part)). I'm going to smell your hair later! TVU 18 ANDREW YANG CONCORD NH MEET AND GREET ABC UNI 092819 2020 104751 Morning Concord. It's so great to be here. I was here at this cafe in April 2018. Was that a year and a half ago? I think that was the first visit to New Hampshire. I have to say, the group's bigger. More math hats. I'm not even sure we invented the math hat in April, 2018. It's great to be back. I actually went to high school here in New Hampshire. I went to high school at Phillips Exeter Academy not that far from here. 104823 Graduated '92. Do people know people who went to Exeter? Maybe some people here did? Excellent. They had me back to speak a few months ago, and when I got there I said I hadn't been back since I graduated., because I didn't enjoy my time there. And then the student body erupted in applause, and I was like, whoa. I was like, oh, I didn't intend that reaction. 104848 So after I graduated here in New Hampshire, I went to Brown University. Anyone here do that? Rhode Island? Works. And then I went to law school, became an unhappy corporate lawyer for five whole months. Yeah. And then I left that job to start a business. How many of you have started a business or organization or a club or a mailing list? So if you have your hand up, you know it's a lot harder than anyone thinks. 104916 And when someone asks you how it's going, what do you say? It's great. There's only one answer that question. So my business went great until it failed. And so I was lying on the floor [inaud] wow this is so hard, but I'd been bitten by the bug. I said I want to try this again. So I worked for a series of entrepreneurs over a 10 year period, and then I became the head of an education company that grew to become number one in the US. 104941 And then it was bought buy a big company in 2009. So at this point, my parents tried to talk to me again. Very exciting. But 2009 was a really tough time in the country. How was it here in Concord? Rough? So this was the financial crisis and the aftermath, and I thought I had some clue as to how it had happened, is that all of the want to be whiz kids from Exeter and Brown and Columbia where I'd gone to school and gone to Wall Street and came up with these exotic financial instruments that crashed the economy. 105010 And I thought, well that's a train wreck, so we should try to find something better for us to do. So I quit my job. I donated some money to start a new organization, Venture for America, to help train people to start businesses. I started calling rich friends, and I asked them this question. Do you love America? And then the smart among them said, what does it mean if I say yes to that question. And then I said, at least ten thousand dollars. So we raised a couple hundred thousand dollars, it grew to millions. Helps create several thousand jobs around the country, in cities like Detroit, Cleveland, Baltimore, New Orleans, Burmingham. I got recognized by the Obama administration for creating thousands of jobs. I got to bring my wife to meet the president. So my in-laws were very excited about me for a brief while. 105055 How many of you grew up here in New Hampshire or New England generally? How about the Midwest? The south? West coast? So I grew up in upstate New York, came of age in New England, I had never been to the Midwest. I had never been to Detroit or St. Louis or Birmingham until I ran Venture for America for those seven years. And I was blown away by the disparities between regions of this country, where if you fly between St. Louis and San Francisco or Michigan and Manhattan, you feel like you're crossing dimensions and decades and ways of life and not just a few time zones. 105135 And I was trying to translate this to people. They were patting me on the back saying, great job, you've helped create these jobs around the country, and I said, I feel I'm pouring water into a bathtub that has a giant hole ripped in the bottom, and that the changes in the economy are much bigger and hairier than anyone realizes. And then Donald Trump becomes our president in 2016. You remember that night? 105158 How did you react when that happened, November 2016? Shock, disbelief. Some people here, I'm sure all of you have neighbors who were very excited about his victory. And there are probably some people here that were happy about it as well. To me, it was a giant red flag. It said that things have gotten so bleak that tens of millions of our fellow Americans decided that taking a chance on a reality TV star narcissist was a good idea. And so that to me is a giant red flag as they wait let's stop what we're doing. And if you turn on cable news. Today or any day since he won why would you think that Donald Trump's our president today. Immigrants. Hillary. [10:52:49] Russia. E-mail. Philly. Has. Corrupted racism own Facebook. FBI. All is all mixed up in a cocktail. A really nasty for family to the dad to cocktail kids. Big news. [10:53:10] This year. But I'm a numbers guy. When I dug into the numbers I was a very clear and direct explanation why Donald Trump won in 2016. We automated away 4 million manufacturing jobs in Ohio Pennsylvania Michigan Wisconsin Iowa all the swing states he needed to win and did win. This happened in New Hampshire to a little bit earlier. [10:53:32] You all lost tens of thousands of manufacturing jobs when you go to the northern part of the state. They still feel it. You still feel it. So he got rid of these millions of manufacturing jobs and what we did do those jobs we are now doing to retail jobs. Calls that are jobs. That was through jobs that eventually drunk driving jobs in the midst of the Fourth Industrial Revolution the greatest economic transformation we've ever seen. How many of you notice doors closing where you live here in this part of New Hampshire. [10:54:00] Why are those doors closing. Yes. It was a one word answer. Right now Amazon is opening up 20 billion dollars in business closing 30 percent of your stores in malls. How much of it was on Valentine's Day last year. [10:54:14] That is your math. New Hampshire. Twenty billion out. He wrote back. [10:54:18] Most common job and most of the country is working as a retail worker cashier. The average retail workers a 39 year old woman make between nine and eleven dollars an hour. So when her store or mall closes What is her next job going to be. [10:54:33] Well you just said McDonald's. But when you go to McDonald's have any of you seen the self serve kiosk. They're going to be in every location in the country by 2021. That's two years from now. Food service and food preparation the third most common job. In the country. When you all call the customer service line of a big company and you get the bottler software you do the same thing I do which is you say zero zero zero zero human human human right. [10:55:00] How do you do that. We all do that. I do it too. [10:55:04] But in two or three years when you get that software it's going to sound like this. Hey Andrew how's it going. What can I do for you. It's going to be delightful seamless efficient a little bit sexy. You might not even know it's software. What is that going to mean for the two and a half million Americans who work in call centers right now I mean 14 hours an hour. [10:55:26] And I notice the direction we're heading because I spoke to 70 CEOs of big companies I asked them how many of you are looking at having software and hey I replace your back office clerical workers. Guess how many hands went up about 70. [10:55:40] All of them. [10:55:41] The truth is you get fired that CERP did not replace back office clerical workers and call center workers with software because they have to optimize for one variable. That's the bottom line. And if I can do that work more inexpensively with technology then you have to do that deal. I'm going to talk a little bit about to me the most disastrous development coming down the road literally which is self-driving trucks and how many of you know a truck driver here in New Hampshire. Driving a truck is the most common job in Twenty nine states. There are three to. [10:56:15] The littlest guy guy. I don't even think she can vote for my re-election. You got to know. We. [10:56:33] Got to think. With us. Smelly apparently. SO. Got me a truck is the most a job in United States and this country where three and a half million truckers. [10:56:54] 94 percent men average age 49 make about fifty thousand dollars a year. My friends in California are working on trusting could drive themselves. Why do they work on those trucks. Really have to be that guy. But. [10:57:08] I do like music. So why are my friends in California working on trucks that can drive themselves. For the money. Hundred sixty eight billion dollars a year in estimated cost savings if you can automate truck driving. Think about that number under 60 billion dollars a year. That's where you can employ hundreds of the smartest engineers in our country to solve. The problem. Self-driving trucks and they told me they're 98 percent of the way they're. Self-driving trucks are already on the highways in Arizona right now. [10:57:37] Uki has just invested in a robot truck company. How many of you saw that headline. U.P.S. invest in the retro company and trucks on the highway. [10:57:45] Now the reason why the trucks on a highway in Arizona is because there's no snow in Arizona. And the robot trucks stink its snow because they rely upon picking up road markings that they can't see the road markings. Then they get confused. So how do you how do you get over that hurdle. What they're working on is tell the operating software on the truck so that when the truck doesn't know what to do. There is an alert to tell the operator in Nevada Oh Arizona. And then that tell operator beams into the truck it drives like a video game. There are cameras on the top and the front of the trucks they can see the road. Now this sounds far out but you remember the first time you saw the TV on your phone. [10:58:27] That's 3G. We're working on 5G now which is like real time immediate latency data transfer. [10:58:37] What do you think the ratio is going to be between tele operators in Nevada and Arizona that we're going to have a million Americans who drive a truck right now. Maybe 10 percent. Maybe 5. Percent. Maybe 1 percent. It's probably closer to 1 or 2 percent. What is that going to mean for the three and a half million Americans who drive a truck for a living. Or the 7 million Americans who work at truck stops motels diners and retail establishments that rely on the truckers getting out having a meal every day. [10:59:06] Only 13 percent of truckers are unionized so this is not going to be some grand negotiation that I want to imagine. Being a trucker who took out one hundred thousand dollars in loans to lease your truck. And then competing against a robot truck that never stops. And your truck literally will force you to stop after 14 hours you can get out and go to sleep like your truck will stop you driving our 15. Your life savings is in that truck or the three or four trucks that you leased and maybe you have a few guys working for you. How would you react in that situation. This is the true challenge of the Fourth Industrial Revolution. When is the last time you heard a politician say the words fourth industrial revolution just now. [10:59:53] And I'm barely a politician. [11:00:03] So this is all of the research and data I was unpacking in 2017 when I was trying to figure out how. Donald Trump was. Now there is a direct line up between the adoption of industrial robots in the voting area and a movement to Trump one of the strongest correlations you could find in these Midwestern towns. But my first move was not to run for president. [11:00:21] My first choice was to go to our leaders in Washington D.C. and say what are we going to do and what do you think the folks in D.C. said to me when I asked what are we going to do. You're like I know. The three most common answers I got were these number one we cannot talk about this. Number two we should study this further. Number three we must educate and retrain all Americans for the jobs of the future. [11:00:45] That sounds very reasonable very responsible. But I said look. I checked out the studies on how effective government funded retraining programs were for the manufacturing workers who lost their jobs in the Midwest. You don't want to guess how effective those programs were. On a percentage basis. Yeah. Zero to 15 percent. There were essentially failures. And when I said that the folks in D.C. You know what they said next. [11:01:11] I guess we're going to get better. [11:01:14] That's what policy out of D.C. looks like and what person in D.C. said something that brought me here to you all today he said Andrew. No one in this town is going to do anything about this set of problems because this is not a town of leaders. This is a town of followers. We're never going to do anything and the only way we would wake up is if you create a wave in other parts of the country and bring it crashing down on our heads. And I said Challenge accepted I'll be back. I. Am. [11:01:47] So glad that I had someone with me when this guy gave me this little speech. Do you think I was making it up right. I felt like a witness because I was like a movie supervillain speech but instead of the DC lobbyist speech. Turns out they're very similar. So this is the set of challenges. [11:02:07] The real problems I got Donald Trump elected. And the question is how can we one wake up our fellow Americans to the fact that it is not immigrants causing these problems. It's an evolving economy. And number two what are the solutions. What's the positive vision. [11:02:22] If you were here this morning and I really appreciate you all being here because it's a beautiful Saturday morning. You know like you know the birds are singing the sun is shining. We're all here together to talk politics. The vision that you heard from my campaign the first time you've heard about this was this. Is an ancient man running for president who wants to give everyone 1000 as much. As they. That. [11:02:46] Nothing like the first recovery. [11:02:51] And the first time you heard it it seemed like a gimmick. It seemed like it was too good to be true. It seemed like it would never happen. But this is not my idea at all. Thomas Paine was born at the founding of the country. Call it the citizen's dividend. Martin Luther King bought forward in the 60s called it the guaranteed minimum income and it is when he was waiting for the day he was assassinated in 1968. [11:03:12] A thousand economists endorsed it. It was so mainstream that it passed the US House of Representatives twice in 1971 under Richard Nixon. It's called the Family Assistance Plan. There's a deeply American idea that's been with us the whole time. In 1982 one state actually passed the dividend without everyone in that state. That's between one and two thousand dollars a year. No questions asked. [11:03:34] And what state is that and how does Alaska pay for it. And what is the oil of the 21st century technology data. [11:03:46] Self-driving cars and drugs. A study just came out and said that our data is now worth more than oil. How many of you saw that. Never getting your data check in the mail. That didn't get lost. Where did that check go. I can tell you where to win it winning winning a Facebook Amazon Google. The big tech companies are now profiting to the tune of billions of dollars off of our data and we're not seeing any of it. [11:04:12] This is the nature of the 21st century economy where we're throwing off information that then gets monetized and resold and traded around and we're none the wiser and we look around our communities to the store's closing eventually see the robot trucks and the highways the truck stops closing. We are getting sucked dry. And it is up to you all the people of New Hampshire. To wake up the rest of the country and then start presenting real solutions. [11:04:43] What the reason I love being here in New Hampshire how many people are here and this and this bar right now in this room. What's the fire code. We'll take that subtract one but if you look around. Maybe one hundred of us are. And this might seem like a modest gathering to you all. But there's a reason why presidential candidates like myself come here every single weekend. How many candidates have you already seen in person this cycle. Raise your hand. So this would be five. Three. Like two hands to be ten or more. Like that. There's a ten ten. I know. So he lives in all of us. [11:05:22] Why are we all here. What do you think. [11:05:26] Yeah. We want change. Thank you. You go first. [11:05:31] The reason why all the candidates are here all the time is because you all control the future of the country. Doesn't feel like you're just living your lives and you're a little bit spoiled ballots are kind of used to it. You're also like don't know about that yet. I've only met him the one time. But I've done the math here in California Californians each of you is worth. 1000 Californians. So there are. [11:06:00] So there are a hundred people here today. That's like two and a half football stadiums in California. [11:06:06] It may not feel like it but this is the kind of room you launch a revolution. And the revolution is necessary. The revolution that helps build a trickle up economy for our people and our families and our communities. After all I'm president. Thanks to you all 20 21. And. We. [11:06:29] Get the dividend into your hands. How would you spend it in real life. Where will the money go. It's time. Get. Back. How. Would people. Pay down debt pay down debt. Home Care Home Repair. College college loans for sure. You. [11:06:47] Start a company. Love it. Maybe you'd maybe you frequent this coffee shop a little bit more often. Maybe you device that extra stuff at the farmer's market outside. How much of the money would stay here in New Hampshire. Most all of it a little bit would float away. [11:07:03] We all know you'd like upgrade the Netflix subscription. They'll buy an extra day. I don't feel like I really have my eye on that toaster. Now those dividend the toaster will be mine. [11:07:17] But most all of it would stay right here in New Hampshire. [11:07:19] It would go to daycare and Little League sign ups that local organizations and car repairs have been putting off it circulates over and over again throughout your economy. And then something floats up to the big guys in the clouds and most of it stays right here. This is a human centered economy. We need to build as quickly as possible. In large part because right now we're directing our economy's energies and capital to things that don't make our lives any better. Now how many of you got excited about GDP when you woke up this morning. [11:07:50] I feel like yes I'm going to make a big contribution this Saturday. I can feel it just makes contributing. [11:07:56] Oh it's ridiculous. We all know on some level that GDP is variable little relationship with how we're doing. And it's gotten so extreme that even now as GDP is at record highs you know what else are at record highs in America today. Suicide and drug overdoses stress financial and. [11:08:17] Student loan debt it's gotten so bad that our life expectancy has declined as a country for three straight years which is not normal in a developed country. All know the last time American life expectancy declined for three years in a row. Say. The Spanish Flu of 1918. You have to go back to a global pandemic that killed millions. Plavix Plavix on the idea that in finding know. Those young guys are. [11:08:48] So smart. [11:08:50] You have to go back 100 years to a global pandemic to find a time when America's life expectancy decline is wrong. And why is this declining now. Because suicides and drug overdoses of each overtake vehicle deaths as causes of death in the United States eight Americans are dying of drugs every hour. And I know that the answer is that struggling with the opiate epidemic as much as any other part of the country and people in this room have been personally affected. And we have to do much more and much better. So this is a sign of how bad our measurements are. And I talk about my wife who's at home with our two boys one of whom is autistic. What is her. Calculator that GDP every day. Zero. And we know that's the opposite of the truth. In other words he's doing as well in the most challenging and important work that's being done. So we can all joke about how irrelevant GDP is what would actually make you excited if I said this got better in Concord New Hampshire. Happiness. Happiness. How about mental health and freedom hmm substance abuse. Since I got better you literally be happy about it. [11:09:54] What else. Education. Childhood success rates. Our kids are doing better. That would be something to get excited about. Clean air and clean water. And I got better really great. Debt. Yeah. Income affordability and indebtedness. Oh how about health and life expectancy. So you include these in a new American scorecard and as you're president it will be my privilege to go down the street to the Bureau of Economic Analysis and say hey GDP. [11:10:26] One hundred years old. Out of date kind of useless. And even the inventors that one hundred years ago. That's a terrible measurement for national well-being and we should never use it as that. I mean you couldn't look that up as a direct quote from because that's a hundred years ago. And here we are blowing it off a cliff. So what I'll do is I'll up. Grade update and modernize GDP to the American scorecard and then I'll present the scorecard to you all every year the State of the Union. I will use PowerPoint decks in the state of the Union and if it was a real sense of how things are going well. And. [11:11:02] Now if you recognize our true problems can we then work on solving them. And this really does animate me because as someone who's running the organization I'm actually running an organization. You got the wrong measurements of organization too over time. That's where we are right now as a society. We use three measurements to see how we're doing economically. GDP stock market prices and headline unemployment rate and they're all the garbage GDP we just went through. [11:11:29] Stock market prices the top 20 percent of Americans own 92 percent of stock market wealth the bottom 80 percent or 8 percent. The bottom 50 percent own essentially zero. So why on earth would you be cheerleading something that only corresponds in the force with the top 20 percent of your people. That doesn't make much sense. And headline unemployment. It ignores the fact that people are dropping out of the workforce. It ignores underemployment. It ignores temp labor contract work that doesn't have benefits. It ignores the fact that 40 percent of recent college graduates are underemployed doing jobs that don't require a college degree. None of that stuff shows up with the headline unemployment rate. [11:12:10] And if you look at the labor force participation rate which is how many of us are actually in the workforce we're at a holding decade low the same levels as El Salvador and Costa Rica. Right now in year 10 of an expansion. And when Donald Trump was a candidate what did he say. He said these numbers are Bayview they're garbage. They're tens of millions of Americans are out of the workforce. And then he becomes president. What happens. Then the numbers are great. Now the numbers. Speak the truth. [11:12:38] He was right the first time the numbers are garbage and misleading. We need to modernize the measurements and then give us a true sense of progress we can channel our energies toward solving the real problems and improve our own way of life. So this is a vision we need to present to the rest of the country as quickly as possible. And New Hampshire I have to say you all have not just. This power but this. Obligation. Because right now the rest of the country they look up and they see these giant pipes that are clogged with money flowing with corporate money. [11:13:12] And if you go to them and say hey you need to vote they think on some level that their vote does not matter. Because Americans are very smart and savvy and they are generally correct that their vote cannot clean the pipes. It is only your voters that can clean the place. [11:13:28] I stand before you today and I was fourth in a recent national poll. And. Get a good deal of corporate PAC money. The contribution to my campaigns only twenty four dollars so my fans are even cheaper than Bernie's. I. Am one of only two candidates in doesn't feel that 10 percent or more of Donald Trump supporters say they will support. Which means the lie of the nominee we win the whole. Number. One. [11:14:07] The criteria that Democratic primary voters have with the nominee who can beat Donald Trump very reasonable is the right criteria. They look around and say well who can make this happen. When they realize that I'm beating Donald Trump by eight points right here in New Hampshire you'll see that they have another sure thing in Andrew Yang right now. That's one reason why Joe Biden is leading in the polls because people think he's the surest bet. But there's another sure bet and you're looking at. That. [11:14:42] Plan. [11:14:43] This is the vision we need to drag our economy into the 21st century. Donald Trump in 2016. He's ever going to make America great again. And what did Hillary Clinton respond. Americans aren't angry and acted in order. He got some other problems right when his delusions were the opposite of what we need. What were his solutions. We're going to build a wall. [11:15:10] We're going to turn the clock back. We're gonna bring the old jobs back. We have to do the opposite of these things to him to where we have to turn the clock forward. We have to accelerate our economy and society to rise to the challenges of the 21st century. We need to evolve in the way we think about work and value in our own humanity. [11:15:28] And I have the ideal candidate for that job because the opposite of Donald Trump is an Asian man who likes that. Thank you. So. Q&A 111617 Q: I was wondering . But I don't know what your plans are for the planet. 111630 YANG>> How many of you all are concerned about climate change? Ah, that means you're awake. If you saw the Detroit debate, you remember me saying you have a new third position in American politics on climate change. Remember this? Position number one, climate change is a problem we need to work on. Position number two, climate change is a hoax. Andrew Yang's position number three, it's worse than you think, and we need to go even bigger. 111657 July was the hottest year in human history, it was the hottest month in human history. And the last four years were the four warmest years recorded in history. So it doesn't take a scientist to say, hey, it looks like climate change is picking up steam. And the fact out of Greenland where they say their ice pack is melting at the rate projected in 2070 today, 50 years earlier than they thought. So it's going to hit us, and it's going to hit us hard. And we need to try and advance our economy as quickly as possible, not just by doing less of the bad, but more of the good. 111730 So what does the good look like? It's things like planting trees and trying to reforest vast tracts of land. It's reseed our oceans. Right now the Atlantic Ocean is losing 48% of its biome, 4.28, not 48, but 4.28% of its biomass every year. And I was just in Portsmouth at a multimillion dollar shrimping business went to zero because of changes in the marine ecosystem. So we need to reseed the oceans with planted and other vegetation to try and rejuvenate some of the ecosystems. 11185 We need to move towards renewable forms of energy as quickly as possible here in the US. But the tough part is that the United States of America only accounts for 15% of global emissions. Which means even if we were to go to zero like that, the earth would likely still warm. So what do you do on the global level? Right now, China is going to Africa saying, great news, I got a power plant for you, and it burns coal. And what does Africa say? 111828 Yeah. That's great. Because we just want energy, we want cheap energy. So then how do you get Africa to say no thank you to the coal burning power plant and say yes to solar panels and wind turbines? Primarily solar panels, they've got wind too, but a lot of sun. You have to get in there and say the solar panels are a better deal for you. 111848 You have to get in there and subsidize and export. We have this EXIM bank that subsidizes certain things, it's not subsidizing these renewable technologies to the tune that we need to. So we need to try and get the rest of the 85% down. Then we need to invest 10s, hundreds of millions of dollars into more modern infrastructure including making our communities more resilient to the impact of climate change right now. 111912 When there's a natural disaster, who suffers the most in America? Poor people, communities of color, and people who don't have modern shelter or cars to get into to try and drive to safer places. So putting money into our hands helps us protect us and our families. But then we need to invest billions to actually raise the levees and make our communities more climate change proof. It's one of those situations where you invest 10 billion and you save yourself 20 billion later. 111940 Which is not really the American way today. The American way today is wait until the thing gets destroyed and then be like, "Oh, I guess we're gonna build this thing." There's one house that we've rebuilt 36 times on federal money to give you a sense of it. There's also a community in Louisiana that we've already relocated. There are already climate refugees in the United States, but there was a town in Louisiana where their town became uninhabitable so we started moving them. So we need to start actually getting real about the challenges ahead and saying, "Look, it's already happening. We need to give communities and families the resources we need to be more resilient." 112012 And then I would propose a constitutional amendment to say that it's up the US government to safeguard our environment for generations to come, not just today [applause] There's a lot of work to be done, but we need---there's a Proverb that "the ideal time to plant a tree is 20 years ago. The second best time is today." We should have done this 20 years ago but we should do it today. Sir! I promised you a question, here you go. 112041 Q: You did. YANG>> Yeah, and you get to start a business which I love. Q: There's a balance between safety and personal privacy that isn't spoken about in campaigns often enough, i.e. security cameras vs tracking. What are your thoughts on that? 112104 YANG>> So the question is about the balance between, let's say, collective security and individual privacy. And we're in an unprecedented era where so much more information about us is available if we sign to participate in the internet, modern day technologies. And I'm gonna speak for myself for a second---I'm a creature of convenience. When you give me that giant like Terms & Conditions thing, I just scroll through and then click. Does anyone actually read those things? No. No one reads those things. 112136 And many Americans operate the same way I do, and so you give up your data because you have better things to do, and just hope they don't abuse it too bad. Like, that's where I am. And we can do better than that. We can do better than what I'm doing, for sure. So I would propose that our data is our own, that data is a property right. And then, if I choose to share it with companies for my own convenience, then a couple things apply. 112203 Number one, if they get paid for my data, I want some of that money. You have to tell me that you sold my data and then give me some of the money, and not just have me like opt-in to something. Number two is I have to know what you're doing, and then number three is I can turn it off if I want. I can change my preferences. One of the interesting things is that our data actually becomes more valuable if we buy in. Because right now, the data that gets sold about us is anonymized most of the time. 112230 So if you were to actually say, "Hey, I'm Andrew Yang, and like, this is me." Your data actually goes up in value. So that's why in terms of data as a property right---thich is not answering your question, sir. Your question's about how much privacy one should expect and collective security. And this is one of the most fundamental challenges of this time because we're in an era where now individuals enabled, oftentimes by technology, can become much more destructive than they were in past times. 112258 To me, there's a zone of piracy and we should expect within our own homes, let's say, or within private interactions. But it is the case that when we go outside on the street, we're going to be in a society where maybe the convenience has a camera or someone else has a camera, and then we'd be captured in some way. And so, to me, within your own home everything should be off limits. But then, when you're in a public space, we should expect to have some degree of monitoring that happens ambiently. 112334 Q: I'm actually from Miami and I have a summer home here, so we'll spread the word. All right. I have a lot of concerns. I have a lot of concerns about the hate in communities that you know whether or not you feel comfortable with that. Really. I think so many things. My most recent is my husband I started in. College on Wednesday. And. Had a speaker. Talk about decoupling the United States and China. And the Chinese leader is the guy that comes from some small town in China. And he is very much to try. And. He's going to stand his ground. And I think that. Donald Trump. Has punched this guy or the terrorists. But ultimately I heard the people's right and it's going to really have a major effect on the economy. And I'd like to know how you would address the Chinese president because it's all about that. That pride. It's not reasonable. 112435 YANG>> It's a great question. Thank you. Such a great question. The decoupling that you're describing, to me, is a very bad thing for American interests over time. So just to walk you all through what this means. The most understandable example is this: Many of the Chinese cell phones that were manufactured were using Android as the underlying software platform. Android's essentially open source, it's reliable, it's embedded, it's got a million apps and so the Chinese have been using Android. 112508 Now, because of this trade war, pressure was put on Google to say "hey, no letting the Chinese use Android anymore." And so the Chinese software manufacturers then had to migrate from Android to their own software, which is a very very painful process for them because their own software stinks compared to Android. Android's awesome, and like their homegrown stuff... Not very good. So they had to move into this new software platform but, just like everything else, their software gets better over time. 112538 Like, people like all of the same socks, but then like many---software, and then eventually it gets better. Now this is a bad thing because having them tied to the Android operating system is a very important relationship. It's good for Google, it's good for America. Them being on their own software is bad. It's creating this whole parallel ecosystem and it makes our interests more divergent. So, I think that that is going to have negative repercussions for a long time to come. 112605 The thing I'm most concerned about---there are a lot of things I'm concerned about, where China's concerned. One thing I will say is that it's bad for American interests to think that every good thing that happens for China is bad for us, like really zero sum game mentality. Then you end up leading to a regional war and potentially other forms of conflict and tension over time. And that's a pattern we should not get into unless there's a very very clear American national security interest that's being threatened. 112633 The thing I'm concerned about in trying to sidestep piracy of intellectual property is the fact that they are positioned to leapfrog us in artificial intelligence and artificial intelligence is perhaps the most important aspect of the 21st century economy. So, this I'm also gonna walk you through. You know, I find it's really important to understand artificial intelligence, right now, is reaching a point where whoever has more data ends up with better algorithms and smarter AI. And China has more access to more data than we do. 112704 There is an old joke in artificial intelligence that went like this. How far behind is China than America in AI? And the answer is 12 hours because we go to sleep, they wake up. [laughter] But now they're in position to actually leapfrog us because they have more access to more data than we do. They also have another advantage which is that the Chinese government has essentially given these companies a blank check when it comes to computing infrastructure. 112732 Where there are islands of computer servers as far as the eye can see, that the Chinese tech companies can use to crunch numbers and make their AI smarter. And I've sat with the leaders in Silicon Valley who are prepared to spend 1, 2, 3, 4, 5 billion dollars on the same sort of computing infrastructure and they say "hey, this billion dollars we're spending cannot compare to the 10, 20 billion dollars that China is spending." And so I said to them, "look after I'm president I will match Chinese Computing resources so that you, Google and the other tech leaders, don't have to compete with a state actor in the same way." 112816 So, this is a real challenge for us moving forward with the China relationship is that China has a couple of main interests. One is economic growth. Two is maintaining order. And if we are able to remain one of the global leaders in AI which I believe we can then we can collaborate with China and then keep tensions from rising, keep there from being like this AI conflict. But we need to be one of the leaders to do so. And right now, the folks in Silicon Valley are concerned about us maintaining our leadership. 112845 That's a long winded way of saying, I agree with you that the China-U.S. relationship has some built in sources of tension and that the best way forward, in my mind, is to outcompete them. And if we outcompete them, then we actually will reduce tensions. Strangely enough. 112911 Q: I would just say that you feel like that impressed me the most definitely. [applause] My question is about the electoral college which has now given us W & Trump, do you have any ideas about fixing that? 112941 YANG>> It's a great question. The electoral college has not been reflecting the popular vote over the last number of cycles. But if you want to change the electoral college, you're looking at a constitutional amendment. Because that thing is baked right into the Constitution. And if you're in North Dakota, would you agree to a constitutional amendment that makes you less important? Of course not. You know, so if you need a supermajority. You're never going to get it to reform the electoral college. 113012 It's one reason why I get a little frustrated with calls to reform it, because to me this would be a political non-starter. The other thing on the Democratic side is it's kind of bad form if you run a couple of elections and lose. And then you say, "you know what we have to do? We have to change the rules that are in the Constitution on how to lose." You know, in my world that's called being a sore loser. Like, you know, you got to win a couple of elections by the rules and then you can say, "hey maybe these rules aren't so great." 113041 But here is the rules change I would proposed because the Electoral College does have some very negative consequences attached to it. So here's a solution I would propose that I believe that you could get more states on board with. And it is this: that you have electors get allocated proportionally within the state. [applause] So this means that every state matters. This means that someone like me might even campaign in Mississippi or Alaska or someplace just like could carve off one elector. It opens up the map and if it keeps the built in advantage that a place like North Dakota has that it has more electors than their population within the state, which is really what their issue is. [11:31:25] Because you just made it popular. The other problem with just saying popular vote and this is something that you all should understand here in New Hampshire the incentive the campaign would all be in densely populated urban areas because if I spend time there and I get a TV and more people see it. So who does that disadvantage rural areas places that are less densely populated. That's one reason why some states wouldn't systematically oppose any changes to the Electoral College. [11:31:52] But I believe you could tell a proportional elector policy because one of the things that North Dakota is in the Alaska and the Mississippi is of the world don't like we ignore them for every presidential election. Right. On the other side too. There are some states that get ignored on the blue side some states get ignored on the red side. If you made a proportional one all of a sudden would have an incentive to show up everywhere. Thank you. We have other. Question. [11:32:20] Here. I was wondering if you've got any plans to have big pharma. I know that. That's right. Now we're starting to see some of the on CNN. 30 dollars me. I also know they're big tests in America for people rash fever flu. So what are you going to be lived with Dr.. [11:32:43] Notice how drug company drug prices only go up and just will go up. Have you ever get like Hey we got cheaper drug. [11:32:53] Prices. So I've got a four part plan to attack. [11:32:58] Higher prices. Number one is you have to let the guard negotiate for a price on behalf of us. You're going to believe this but the drug lord is actually kept the government from negotiating. That's crazy. I think that would be a no brainer but we don't do it. We need to do it. Number two. It's routine for an American drug company to target Americans to reinforce ties with their target Canadians or Australians or other countries. [11:33:22] And sometimes we actually subsidize the development of those drugs as a country and then they're down to us. So the second thing is you have to say look you can only charge us with 10 percent of whatever you're charging like you are in your other countries. And that would bring the prices down very very quickly. 113337 The third thing is to say if you keep gouging the American people beyond these international parameters, then we can force licensing of your drug, and then we have a public manufacturing facility that would then manufacture that drug and deprive you of the profits. And drug companies would have to know they just serve the bottom line. They don't care about our health. They don't care about affordability. 113400 You could have some person dying from rationing insulin, and the drug companies would not care. They only care about their bottom line. So what you do is you hit them where it hurts. You set this plan up, and you say like look, if you go too far, we're going to deprive you of hundreds of millions and billions in profits. I have a friend who's a private investor who tells me that she has never seen profiteering and profit taking and price gouging on the level that she currently sees from drug companies, device companies, and private insurers. 113429 It's one reason why we're spending 18% percent of our GDP on health care to worse results in other countries. So I totally agree with you that drug prices are one of like the clearest signs that our system needs reform. 113446 One more question and then it's selfie time, and I see this woman that's had her hand caught my eye. And I'm gonna run the mic to you. Q: I grew up in the era where instead of hitting the comment button on social networking, when you were for or against something, you hit the streets to fight for it or against it. There's $4 billion a month being spent on Afghanistan war. There are still soldiers over there dying who believe that they're over there because our country believes it has a cause to be there. I hear very few candidates talking about what they're going to do about that war. It seems to me that an awful lot of what you talk about wanting to do for the country, in terms of giving money, $1000 a month, that $ [11:35:37] To do it quickly. Turns terms giving money. And a thousand dollars a month. That four billion dollars to go for and certainly could go for education could go for health care. So I wonder if you could just talk about you know because all self combat. There is a lot of people making money off that war. Private contractors and people like Lindsey Graham who are and those like. The one. In the. Cotton. In Arkansas they're going to fight against shopping because their states get billions. In defense. Do. You. With. A. [11:36:22] Policy. There's a reason why First the number of 750 billion being spent on this very advanced private contractors every year. So that's the headline number. And there's a reason why they spread this money around and everything congressional district. Because in every single congressional district has economic interest paid to that are they're tied to this military industrial complex. So first in terms of foreign complex we have really gone to this incredible extreme as a country over the last 18 years. [11:36:57] What does the Constitution say about the Fair Work Act of Congress. Within 18 years ago Congress passed something called the EU IMF and said hey the president the executive branch can do what it wants. It's related to this general. War on terror or global global conflict. And then then that's essentially been a. Blank check for the executive branch to do whatever it wants. So we've been in a constant state of armed conflict for 18 years and it's not what the American people want. I've signed a pledge to end the forever wars and bring troops back. We should not be engaged in these conflicts that. Are. [11:37:41] And to me what's going on. In other parts of the world reflects how we're doing at home. The chain of events was that we started to disintegrate at home. We like Donald Trump. Donald Trump is down as erratic and unreliable partner that other countries around the world are looking at being like wow we have to trump the US like signs the thing that drops out. You know he says one thing one day and everything the next. So job one is to make us stronger at home. Bring some of those resources back and to the extent that you have to convince legislators to get on board. [11:38:11] What I'm suggesting is we take the military defense expenditures that are assigned to these congressional districts and say look you can keep the money but instead of going to the defense industry it's going to go to infrastructure in your state. Which ends up being more economically productive and employs people right here at home. And it's politically acceptable for that. So that's one of the big moves but the bigger picture what you're describing really is a microcosm of the whole problem which is that at this point we're just. [11:38:40] Revolving around the almighty dollar of all things. And I know that there was someone who actually went into one of the military contractors that was Northrop Grumman or Lockheed Martin at the end of the Cold War and said okay we're going to find it in a war. You know other than that that's industry like right now is the tail wagging the dog where it's in the public interest determining how much money you spend it's how much money we spend is it shaping policy. That is the big challenge that we have to reverse. And I think I'm the ideal type of candidate for that because people can sense I'm not a politician. [11:39:13] I have zero corporate interests. I'm going to go and try and make things more rational and humane and I believe that's what the American people want. One of the proposals I have. If you look at the lobbyists and the overrun our government. I've been running for president for a year and a half now and I already see how our government gets corrupted. Because you have the money on one side then you the people on the other. And between the people and the money the money is a lot easier to listen to. You can count it you can get bigger chunks of it from like individual you know interactions. The food is better. That's why you have our legislators all just answering to the money. And all of the Democrats have a rules thing we should overturn Citizens United. It should be very difficult by the way. [11:40:05] That's another it might require a constitutional amendment or a supermajority to do. But the fact is corporate money was in there before Citizens United and the corporate money will continue to predominate. It's like life in Jurassic Park you know like life finds a way. Like it's like a money flies away. [11:40:23] Have you ever met a DC. They're literally the richest city in our country right now. You know you go there and you're like Where did all this money come from. [11:40:31] I mean it came from our communities. So the question is how do you get the government working for us again. Step one you get someone like me into the Oval Office and then I've even said after I'm president I will do a number of things. What I would never do I wouldn't even take speaking money for personal gain after I'm president. [11:40:49] Because the fact is it's human nature. If you can pay me a quarter of a million to show up and schmooze your clients. I'm probably going to be a little bit nicer to you. So instead of that was to say like no corporate speaking fees. So he gets someone like me in the office and then you tie the will of the people to the money. Now how do you do that. It's not that hard. Cities in the United States have already done this. [11:41:19] What they've done is they've either backed small donations or they've issued vouchers. What I'm calling democracy dollars where everyone in the country gets one hundred dollars that you can give to a candidate or campaign. This would wash out the lobbyist money by a factor of eight to one. It will make it if I get ten thousand Americans on my side that's a million dollars. And then when the lobbyist comes with his fifty thousand dollar check I say I don't care about fifty thousand. I'm getting a million dollars from the people. [11:41:53] Where we ever beat back the military defense contractors and the pharma companies and the gun lobby and their companies that have essentially taken over our way of life. I'm going to share one story then we're going to take some selfies. I went to Phillips Texas are a good friend of mine. He went to work in Capital Hill and he went there with the best of intentions. He's a good man dear friend and he said to me I will never be a lobbyist because they're corrupt. They're being all is not what I want to do with my life. I'm better things to do. He was on Capitol Hill for 12 years and then what. What is he today. [11:42:28] A lobbyist. And you he. He was sheepish about it. To me it's like you know because he knows I remember that conversation. But. I understand what happened to him. That is the set of incentives for the machine in D.C. that takes good people and corrupts them over time. It's not. It is. And that is what we have to change in some ways is the biggest set of channels we need to rewrite the rules of the game is going to start at the top. Are you with me New Hampshire.

Universal Newsreels

PBS Jim Lehrer News Hour presents a Town Hall Meeting with Federal Reserve Chairman Benjamin Bernanke. JIM LEHRER: Good evening. I'm Jim Lehrer from the Federal Reserve Bank in Kansas City, Mo., and I welcome you to this special PBS NewsHour forum: "On the Record with Bernanke" -- Ben Bernanke, the chairman of the Federal Reserve. His role in matters financial and economic, most particularly in the immediate past and future, is paramount, and that is what he will be talking about tonight with a group of people from and around Kansas City. The nonpartisan organization Kansas City Consensus helped us identify and select them. Those who will ask questions are sitting there in the center section directly in front of Chairman Bernanke and me. They have been pre-interviewed by NewsHour staff members about what they have on their mind to ask the chairman. I also have a few questions that have been emailed to us at our Online NewsHour site. And we'll get some perspective-setting help from NewsHour economics correspondent Paul Solman. Mr. Chairman, welcome, sir. BEN BERNANKE, chairman, Federal Reserve: Thank you. JIM LEHRER: Underlying many of the questions that these folks have are questions that are basic about the Federal Reserve itself. For instance, I'd like for Gwen Bailey to stand up. Ms. Bailey, tell the chairman - get your mike, please. Tell the chairman what you told our producer when she talked to you about your questions for the chairman. GWEN BAILEY: My name is Gwen Bailey. I'm a social worker with Visiting Nurse Association. And my particular interest is exactly what is the Federal Reserve? I don't have a clue what they do, how they impact our lives, and that is why I was very interested to be selected to participate in this forum. BEN BERNANKE: Gwen, you've got a good place to start there. The Federal Reserve is an independent government agency also called the central bank. It was founded about 100 years ago. It was founded actually in the beginning to try to address financial crises. There had been a panic in 1907 and that started the process by which Woodrow Wilson created the Federal Reserve. So throughout our 100-year history, we have been very much involved in dealing with financial crises, trying to address situations just like we have now, when the financial markets are in disarray and they're affecting the economy. The Fed has some other important functions as well. The Fed makes monetary policy, and what that means is that we, including President Hoenig here from Kansas City, meet and set short-term interest rates. We set short-term interest rates in order to try to keep the economy on track. We have a mandate from the Congress to move interest rates up and down as needed to try to promote employment and to keep prices stable, keep inflation low. So monetary policy, moving interest rates around is very important. We have lots of other things we do as well. We work with other supervisors to try to make sure the banking system is stable. We've had a lot of work to do on that in the last couple of years. And many people don't know, we also do consumer protection. So if you look at your credit card bill, you'll see the periodic statement. The structure, the lines, and the way that's organized was determined by the Federal Reserve and the Federal Reserve sets a lot of the rules associated with how credit cards can be charged, the kinds of the penalties, fees and so on. So broadly speaking, financial stability, trying to keep the financial market stable; monetary policy, interest rates to move the economy into a higher pace or a lower pace; banking supervision; and consumer protection. And so a whole range of financial economic issues. JIM LEHRER: Thank you, Ms. Bailey. Just to follow up, Mr. Chairman, when you say independent agency, define independent. BEN BERNANKE: We are an agency of the government, but we're - within the government we need to have some independence from Congress and the administration, and the most important area is monetary policy. There's a lot of evidence that when politicians make monetary policy, you don't get good results. Politicians have a short-term horizon. When they want the central bank to print money to pay for the government deficit, either one of those things is going to create a lot of inflation. What we've learned over time, and there is a lot of evidence to support this, is that when the Central Bank is allowed to make monetary policy with the interest - the long-term interests of the economy in mind, without the interference of the administration or the Congress, you get much better results. You get low inflation and you get good growth. This has been seen all around the world. So we're very, very sensitive to this issue. We want to be very sure that when we make monetary policy that we're doing it in a non-partisan way, that we're going it based on what's good for the economy and that we're not being told what to do by the president or the Congress. JIM LEHRER: So when you get up in the morning, who do you go to work for? Who do you feel you're answerable to? BEN BERNANKE: I'm answerable to the American people. I was appointed by the president to a 14-year term as a governor but a four-year term as the chairman of the Fed, and I was approved - I was confirmed by the Senate. So I obviously go through a political process to be appointed, but again, the Federal Reserve governors, the Board of Governors, the seven people who are at the head of the Fed in Washington, are generally professionals, technical people, people who are not lifetime politicians, people who wanted to serve the country using their knowledge in one of these areas that I was talking about like banking or monetary policy. JIM LEHRER: When somebody says, oh, the Fed is the - essentially the fourth branch of government, how do you react to that? BEN BERNANKE: That's a tremendous exaggeration. As I said, the Fed needs independence in making monetary policy, and that's good for everybody because it helps keep inflation low. But we are very accountable. We have to report regularly and frequently to the Congress. I was - just this last week I had to testify - maybe you saw me on television - I had to testify before both the House and the Senate explaining our policies, what we're doing, and reporting to the Congress and the American people about our ideas, our decisions, and how they affect the economy. And again, we are subject to the appointment process, and Congress can change the rules as well. So it's not a constitutional type situation. It's one where our independence has to be won every day, if you will, in that we have to show that we are producing good results and doing so without intervention or interference from other political bodies. Understanding the Federal Reserve JIM LEHRER: OK. Got it. Now, to set the various stages for where we go from here, we a have a report by NewsHour economics correspondent Paul Solman. PAUL SOLMAN: In Missouri, with more Federal Reserve branches than any state in the country, Kansas City, with more fountains than any city outside Rome. Where better, we thought, to launch an explanation of the Fed's actions to supply liquidity so the economy can remain afloat. Economist Nick Perna. NICK PERNA: Just like that old metaphor about the Federal Reserve trying to steer a course between inflation and recession. I'm sure you did a segment 20 years ago with a couple of my great old professors from MIT. PAUL SOLMAN: Indeed, we did. Twenty years ago we went to sea with Nobel laureates Bob Solow and Franco Modigliani, who gave the image of Fed chairman as boat captain a classical twist. FRANCO MODIGLIANI: He reminds me of a famous passage in the Odyssey that describes Ulysses trying to negotiate a passage between the two rocks. PAUL SOLMAN: In Homer's epic poem "The Odyssey," one rock harbored six-headed Scylla. To the economic professors, Scylla symbolized the dangers of inflation which makes money worth less. Beneath the Odyssey's other rock, Charybdis, a ship-sucking whirlpool - to the economists, symbolic of the downward spiral of recession and unemployment. BOB SOLOW: A little bit of recession creates a little pressure for more recession. My business is bad, I buy fewer materials. I lay off workers. They can't spend incomes they don't have. PAUL SOLMAN: Thus the Fed's job - to steer a steady, sturdy middle course. No wonder the Fed is built to seem so Washington reassuring. DONALD KOHN, vice chairman, Federal Reserve: This is the boardroom where the Board of Governors meets. PAUL SOLMAN: Don Kohn is current vice chairman of the Fed. DONALD KOHN: This is also the room where the Federal Open Market Committee meets to discuss monetary policy. PAUL SOLMAN: And to make monetary policy, which is how the Fed steers, by deciding to draw money out of the economy if inflation threatens, pump money in, if - as now - recession is the monster. NICK PERNA: So when the Federal Open Market Committee makes policy decisions, it's the job of the desk at the market groups to actually go out and implement that. PAUL SOLMAN: The desk is at the stout New York Fed, famous for the five metric tons of gold - more than Fort Knox - tucked underground. 'Die Hard with a Vengeance' had to recreate the vault. Fourteen floors above the gold, Brian Sack runs the open market desk. BRIAN SACK, executive vice president, Federal Reserve Bank of New York: In open market operations the way we create money is by buying securities. PAUL SOLMAN: Amazingly, the Fed's usual job for almost a century is as simple as that. To add money to the economy the Fed buys U.S. government securities, on this date, $3 billion worth, and thereby creates new money - federal reserves. It's supplying, in Fed-speak, liquidity. BRIAN SACK: Financial firms will be giving us Treasury securities. In return, they'll be getting reserves or liquid assets that they can use for a variety of purposes. PAUL. SOLMAN: But they're not really anything. I mean they're just electronic entries somewhere on their books? BRIAN SACK: Right, right. Yeah. We don't send a truck out with $3 billion of bills. PAUL SOLMAN: But to financial firms, the reserves are like cash in the vault. The more reserves banks have, the more loans they can make, and in competing to make them the lower the interest rates they offer. The usual result, more money flows through the economy. Returning to the water metaphor, however, these were not usual times. That's because what everyone's been calling a perfect storm hit. The economy appeared to be going under. The Fed responded with what seemed like a radical laundry list. It pumped money into the system short term, lowering overnight interest rates dramatically; it loaned money longer term to financial firms in peril. Finally with Treasury, it gave money to fragile firms directly. Back in the watery city of fountains, economist Nick Perna. NICK PERNA: What they did was to provide financial liquidity, not the stuff we're standing in right now. They bought commercial paper, mortgage-backed securities. They bought preferred stock. They made direct loans. They injected hundreds of billions of dollars of funds, of liquidity, into the financial system. PAUL SOLMAN: So, 20 years after we first shot him explaining the Fed on Martha's Vineyard where he summers, we asked Bob Solow to return to his steering-the-course metaphor. And we're using this boat because we're not going out on the water in this kind of wind. Steering the course between inflation and recession. Fed drives interest rates down almost to zero and yet we're still headed into a whirlpool of recession. What happened? BOB SOLOW: Well, think of it this way. In normal winds the Fed can steer between inflation and recession by making small adjustments. But then a year or 18 months ago, there weren't normal winds. There was a perfect storm, a really dangerous blow, and a boat like this can't make headway against that. It'll get knocked down. So the Fed had to try something dramatically different, way outside of normal procedures, and it did. Building a new framework JIM LEHRER: Mr. Chairman, first, do you agree with the perfect storm analogy? BEN BERNANKE: A lot of things happened. A lot of things came together. It created I think probably the worst financial crisis certainly since the Great Depression, and possibly even including the Great Depression, so yes, I agree. JIM LEHRER: What were your worst moments, for you personally? BEN BERNANKE: Oh, the worst moments were back in September. The financial crisis began with Fannie Mae and Freddie Mac, the large housing companies that were taken over by the government, and subsequent to that a number of very large financial firms came under enormous pressure. One of them, Lehman Brothers, an investment bank, failed. Others came close to failure, needed government support, not just in the United States, but around the world. And those were some very long nights I spent on the sofa in my office as we worked to try to keep the financial system running. JIM LEHRER: Let's go to a question here from Janelle Sjue about this very thing, the storm and what Chairman Bernanke and others at the Fed were doing. JANELLE SJUE: Hi, I'm Janelle Sjue, a Kansas City mother. I guess I have a couple short questions. First of all, we've given millions - hundreds of millions of dollars of tax money to these large corporations, these behemoths. Is that going to be enough to correct the situation? And secondly, you know, I'll use the analogy of nature. When a prairie fire burns through, it takes out all the big overgrowth and allows all the small stuff to pop up. Why don't we just let the behemoths lay down and then make room for the small businesses? Thank you. BEN BERNANKE: That's a great question. The problem we have is that in a financial crisis if you let the big firms collapse in a disorderly way, they'll bring down the whole system. When Lehman Brothers failed, the financial markets went into anaphylactic shock basically, and it was that shock to the financial system that led the global recession that began last fall, which is probably the worst one since World War II. So it wasn't to help the big firms that we intervened. It was to stabilize the financial system and protect the entire global economy. Now, you might ask, you know, what's the deal? Why are we doing that? It's a terrible problem. It's a problem called a too-big-to-fail problem. These companies have turned out to be too big to allow to collapse because, again, if they collapse the - when the elephant falls down, all the grass gets crushed as well. We really need - and this is critically important - we really need a new regulatory framework that will make sure that we do not have this problem in the future. And the present administration has proposed a system that would include - let me just mention two items. First, that the Federal Reserve would oversee all these major big firms that are, quote, "too big to fail," and would put extra tough requirements on their capital and their activities, what they can do, the risks they can take. That would be the first part. But the second part is very important. We would modify the bankruptcy code. The problem now is that the bankruptcy code is such that when one of these firms fails, it's a disorderly mess. What we need is a system where the government can say, this firm is about to fail, we can't let it just fail, but we've got to - we don't want - also we don't want to prop it up either. We need an alternative between bailout and bankruptcy, and that alternative is a system where the government can come in and seize the firm and then unwind it in an orderly way, sell off the assets, and do that in a way that does not cause chaos in the financial markets. We have a system like that already. Right now the Federal Deposit Insurance Corporation, whenever a small bank or medium-sized bank is about to fail, it can come in before it fails, grab it, sell off assets, pay off the depositors, and this all happens without causing a huge problem in the financial market. That's what we need. And I agree with everyone here, too big to fail is a terrible situation. We've got to fix that. And I think that's the top priority for policy going forward. JIM LEHRER: Bill Black here, staying on the storm question, has a short question on this. Bill Black. BILL BLACK: Bill Black, professor of economics, law, criminology and former financial regulator, UMKC. If this is a terrible situation and creates this kind of moral hazard, all theory says we need to remove the officers who put us in the situation. When will the Fed begin to remove those officers? BEN BERNANKE: Well, when we've gotten into situations where companies were actually failing and had to be supported, first, I should say that this was not a Fed operation. The Fed and the Treasury have worked closely together, so it's been a broader - and the FDIC has participated as well. In those cases where companies were prevented from failing, the shareholders typically lost virtually all their money and we did replace the officers. Take, for example, AIG. The AIG CEO was fired. The shareholders lost all their money. Bear Stearns. Bear Stearns' shareholders lost all their money and the company was taken over by another company. So, you know, in most cases we have replaced the leadership and we have made sure the shareholders have lost the greatest part of the value. JIM LEHRER: Got an e-mail, Mr. Chairman. This is from is Carl Deninger in Knoxville, Florida. The question is, "Since this crisis began with people unable to pay their bills and continues to be marked by this problem, how does expanding credit solve the problem? Isn't that going to be like giving a drunk a bottle of whiskey and calling him cured"? BEN BERNANKE: Well, we have a case here of overreaction. It's true to some extent that this crisis was caused by too much credit, credit that was too risky, too easy. That's all true. But the financial crisis has caused a huge reaction in the other direction. And if you're - if you have a small business and you've tried to get a loan, you know that credit is very, very tight right now. We need to have sort of a middle course between credit that is excessively risky, excessively easy, and credit which is so tight that legitimate borrowers can't get credit. The Federal Reserve has been working hard on this in a lot of ways. First, we've cut interest rates all the way to zero, the short-term interest rate, the one that we control. We've then worked with banks to try to increase their lending. And we have a whole set of programs. Let me just talk about one. We have a program that lends to investors who want to purchase consumer or small business loans from banks, and that puts more money into the system. And what we've found is that this program has brought down auto loan interest rates. We've helped finance 1.6 million auto loans. It's helped a lot in small business loans. We've financed about 600,000 small business loans. And so we have actually intervened in the market to try and get the credit markets working again. So we had too much credit. It was too risky. It was too excessive. Now we've got to bring things back to sort of a nice middle ground. JIM LEHRER: Jonathan Kempner, question. JONATHAN KEMPER: I'm Jonathan Kemper. I'm a fifth generation community banker here in Kansas City. My question is, you reacted to a perfect storm going in, but I think the judge is going to be how you come out of it. As you talk about these new programs, all these special programs, are they going to be part of the normal course of business for the Fed going forward? BEN BERNANKE: No, they won't. That's a good question. We have some programs we've had for a while, which are - as you would know, are short-term lending programs to banks when they need liquidity for short-term periods. And that's been around since the beginning of the Fed, and that would continue. But all the other programs, the special programs we put together to help in the commercial paper market, to help in the consumer loan market, to help in the mortgage market, all of those will eventually be unwound and be taken away as the normal market processes begin to function again. We need to do that because we want to make sure, first, that markets go back to normal, that credit is allocated through the market process, and secondly, because at some point when the economy begins to recover we want to make sure that we don't overstimulate the economy into an inflation. And so for both of those reasons we're going to have unwind essentially all of the programs that are being put out. JIM LEHRER: Dave Huston, you have a question in the same area? DAVID HUSTON: Hi. Welcome to Kansas City. JIM LEHRER: Thank you. DAVID HUSTON: My name is David Huston. I'm a third generation small business owner with offices here in Shawnee, Kansas, a suburb of Kansas City, Des Moines and Omaha. My question is partly a statement but also a question. I said I'm very, very frustrated during the past year when I see billions and billions of dollars sent to large financial institutions, and it's what we were alluding to before. I'm especially upset when I hear the phrase, and you used this, quote, "that company is too big to fail." As a small business person, that's very hard to swallow. I feel like a more accurate statement of policy would be too big to fail, too small to save. My business and thousands of others fall into that too small to save category. Small businesses employ more people than the Fortune 500 companies combined. Small businesses represent the blood - the lifeblood of small business - small cities, large cities and our American economy. Innovation and creativity is coming from small businesses. But I truly believe small business and the companies that support - JIM LEHRER: Question. Question. DAVID HUSTON: - small business are getting shortchanged by the Federal Reserve, the Treasury Department and Congress. Am I wrong on that perception? BEN BERNANKE: Great question. Tough question, but a great question. Let me go first back to too big to fail, and let me just emphasize that nothing made me more frustrated, more angry, than having to intervene, particularly in a couple of cases where taking wild bets had forced these companies close to bankruptcy. There's nothing that made me angrier than having to do that. Why did we do it? Because if that company had collapsed in the middle of a crisis it could have brought everything down. In 1929 - people think the Depression was created by the stock market crash. It wasn't. From 1929 to 1931, it was a normal recession. Then in 1931 a huge bank in the middle of central Europe collapsed and that created a global financial crisis which then made the recession into a Great Depression. I was not going to be the Federal Reserve chairman who presided over the second Great Depression, and for that reason, I had to hold my nose and stop those firms from failing. I am as disgusted about it as you are, and I think it's absolutely critical as we go forward that we put in a new system that will make sure that when a firm does not succeed in the marketplace, that it fails. That is absolutely critical and I support that 100 percent. Now, on small business, I also agree with you. Small business is where the jobs come from, it's where the innovation comes from, it's where the creativity and entrepreneurship in America comes from. Every big company was once a small company, and so we really have to preserve and protect and strengthen small business, and I'm fully aware of those issues. We hear all the time about the credit issues for small business. We're doing what we can. As I mentioned, our program to get small business loans out. We're working with the banks, encouraging them to make loans. I understand your frustration. I absolutely understand your frustration, and we're working really hard to try to make it better. JIM LEHRER: Mr. Chairman, as I'm sure you know, there were competing pieces in the Sunday New York Times op-ed section on the question of whether you deserve another term as chairman, and the negative part was written by - piece was written by Anna Jacobson Schwartz. She's an economist from the National Bureau of Economic Research. I'm aware that you know her. But let me just read you what she said, which relates to this particular question that we're talking about here as the storm and how the Fed reacted. Quote, "The Fed delivered plenty of rhetoric about the importance of transparency, yet failed to articulate its own goals. The market was thus bewildered when the Fed rescued certain firms and not others. Mr. Bernanke should have explained the principles behind these decisions. The market could not understand why the Fed rescued Bear Stearns and then permitted Lehman Brothers to die. As a consequence, there was volatility in the credit and equity markets and a general sense of turmoil that demonstrated that participants were at a loss to understand the functioning of the Fed." Your comment, sir? BEN BERNANKE: My comment is that we tried to save all these big companies because we knew the implications. We tried to save Lehman Brothers. The problem, as I was discussing before is that we don't have a system, we don't have a structure. All these problems that she was alluding to occurred before even the Congress passed this TARP legislation that created the $700 billion to support failing companies. So we didn't have any tools. In the case of Bear Stearns and in the case of AIG, by using the Fed's lending authority and other devices we jerry-rigged up a way of preventing the failure of those firms. In the case of Lehman Brothers, there was just a huge $40, $50 billion hole that we had no way to fill and no money, no authorization, no way to do it, so we had to let it fail. We had no choice. So I don't regret - I regret that it happened because it created a huge amount of difficulty. And in fact, it just confirms what I've been saying - that if you allow a big financial firm to collapse in the middle of a financial crisis, the consequences for the average person, for the global economy, are severe. What Ms. Schwartz wanted us to do was to state in advance what our strategy was for saving firms. We had no idea which firm was going to fail and we didn't have a system, we didn't have a structure. And what I'm saying is going forward we need to have what we now have for banks, but don't have for other kinds of financial firms. We need to have a law, a set of laws, that allows the government to come in and systematically and in a transparent way wind down a failing financial behemoth, to use the word that was used before, so that it doesn't create damage throughout the system. So her premise is that we made a conscious decision to let Lehman fail. We did not. We made - we spent the entire weekend with - basically 24 hours a day, trying to do everything we could to save that company, not again because we thought it was deserving, but because we knew what the implications were going to be. We didn't have the tools to do it. The other companies that were thinking about buying it decided not to buy it, and so we had no choice. JIM LEHRER: All right. Let's move on now to the recovery. And the first question to James Thomas. To the recovery itself now. To the present. JAMES THOMAS: James Thomas, recent economic graduate from UMKC. With the first phase of the stimulus bill in effect now - in my opinion, failed - what do you think worked and didn't work? BEN BERNANKE: Well, I would say that it might be a little bit early to make that judgment. First of all, let me say one other thing, which is the stimulus package is the administration and Congress. The Federal Reserve's got nothing to do with it. I mean that's - you know, it's a different part of the government. But having said that, I think we have to wait a bit longer. The stimulus package is a big $787 billion package, but something like a quarter of that is getting spent this year and not even all of that is actually going into the system this year. So most of the money that's in that package is in 2010. So it may or may not succeed, but I think we've got to give it a bit more time. JIM LEHRER: Bob Litan, you have a similar question, a follow-up question on that, I think. BOB LITAN: Well, I guess I do. I'm Bob Litan from the Kauffman Foundation. It's widely known among economists that the employment situation lags the general economy, that you really need the economy to grow at something like 2.5 percent a year in order to absorb the new workers and also to absorb productivity. So that means unemployment's going to continue rising even as the economy starts to recover. Can you give us any idea of when unemployment's going to peak out and then at what level? BEN BERNANKE: Well, nobody really knows for sure, of course. Economic forecasting makes weather forecasting look like physics. But you're absolutely right. It takes about 2.5 percent growth to absorb new workers, keep the unemployment rate about constant. Right now we're seeing growth in the second half of the year, but our best guess, and it's only a guess, is that growth in the second half of the year will be about 1 percent on an annual basis. So that's not enough to bring down the unemployment rate. So our projections - the Federal Reserve - the members of the Federal Open Market Committee, which is the committee that sets monetary policy, puts out forecasts or projections four times a year which are publicly available, and our projections suggest that the unemployment rate will probably keep rising, probably a bit above 10 percent, it'll peak early in 2010, and then begin gradually to come down. We could be wrong. It could be a stronger recovery than that. But you're absolutely right, that even after the economy starts to grow again, and we're hoping to see that in the next third and fourth quarters, it'll be a while before the labor market, the job market, is back to where we want it to be. JIM LEHRER: Sue Drakeford has a question that's also related to that. SUE DRAKEFORD: Hello. My name is Sue Drakeford. I'm a banker at Hillcrest Bank and a board member with the Asian American Chamber of Commerce. When is this going to end? That's my question. BEN BERNANKE: That's a great question also. Well, there's a healing process that has to take place. We've made a lot of progress. As I said, last September and October we were in the middle of the worst financial crisis at least since the Great Depression. We've seen a good bit of progress in the financial markets. Banks have largely stabilized. The stock market, you know, is up a good bit in the last few months. Credit markets are beginning to open up again. So we're seeing progress in the financial markets, which is very encouraging and suggests that we are going to start seeing some growth in the economy. We're going to expect to see growth in the economy in the second part of this year, then beginning to pick up in 2010, but as the previous questioner indicated, it probably will be longer than that before unemployment comes down to a level that we find acceptable. So the Federal Reserve has been - I'll be very clear. The Federal Reserve has been putting the pedal to the metal. We have the interest rate as low as it can go. We are putting everything we can into strengthening credit markets. We are buying up mortgage securities to bring mortgage rates down and get people into houses. So we're doing everything we can to support the economy, and we hope that that's going to, you know, get us going next year sometime. Now, I want to say one other thing, which is that recessions happen. They typically last one to two years. They're unpleasant. Financial crises can make them worse, and that's what we're seeing today. But I have tremendous confidence in this economy and in the American people. I think Americans are very hardworking. They're innovated and creative and they're very ambitious. And we have a market system that under normal circumstances rewards those valuable traits. On top of all of that, one of the small silver linings of all this is that people are starting to save more because they've seen what happened to their 401(k)s and to their credit positions. So I have a lot of confidence that within, you know, a few years, that we will be not only back on track, but that we will be growing strongly again. I think this economy cannot be kept down. We will try to get through this process. It's going to take some patience. But I think in the longer term this economy will go back to what it has been, which is the most successful economy in the world. JIM LEHRER: You have a follow-up to that, to what the chairman just said? SUE DRAKEFORD: I do. Actually, in specific terms of TARP. A couple of banks, you know, have received TARP. And I want to know from you, how effective do you feel like the TARP program was and is there future plans to bring another similar program like TARP? BEN BERNANKE: So the TARP stands for the Troubled Asset Relief Program. This was the $700 billion that the Congress approved for financial stabilization last October. It has been used for a whole bunch of different things. It was used initially to help stabilize the system, and that was critical, and it did help there. And it prevented some of the failures that we couldn't prevent before the TARP became available. It's also been used to give capital to healthy banks. And the evidence there I think is that it has helped them make more loans. The inspector general for the TARP has put out a report, which says that 80 percent of the banks who got the TARP money have used it to make more loans in communities around the country. So I hope that's helping, although obviously we still have a very tight credit situation. But the TARP is now being used for a whole bunch of other things, and these things are really outside the scope of the Federal Reserve. It's been used in the automobile rescue, the GM and Chrysler rescue. It's been used in some foreclosure mitigation programs which are valuable programs that are obviously different from banks. So a lot of the $700 billion is going to other purposes. And I would finally say that a number of banks have paid back the TARP. And remember, the TARP was supposed to be an investment. And just recently, ten large banks repaid the taxpayer $70 billion with dividends and interest so that, you know, the money came back. And not all the money will come back, but a lot of it will come back and, you know, I think that will be a good thing. I don't expect to see another TARP program because, again, at this point the money is not being used primarily for financial stabilization but for a variety of other purposes. JIM LEHRER: Amar Singh, you have a question about inflation, which of course is related to the recovery that's going on now. AMAR SINGH: Yes. I'm Amar Singh and I'm a small IT company specializing in business intelligence. My question relates to the market policy in terms of the mounting national debt, how you're going to protect the U.S. dollar against other major currencies so that depreciating dollar does not cause the inflation just when you need to keep the interest rate low. BEN BERNANKE: So the question is about debt and about the dollar, monetary policy? AMAR SINGH: The national - mounting national debt will probably cause the U.S. dollar to become weaker versus other major currencies. So what are you going to do to protect the dollar so that all of a sudden all the imports we consume don't become too expensive - the inflation? BEN BERNANKE: So different parts of the government have different responsibilities here. The federal debt, as I'm sure you know, the deficit this year is almost $2 trillion, the largest deficit probably since World War II. Next year it'll still be over a trillion. So these are enormous deficits that are adding to the national debt. Of course this is a responsibility of the administration and Congress, not - the Federal Reserve has nothing to do with the federal debt. But I think that, you know, as we look at that, we see - I think it's important to say that even though I don't think we could have avoided having a big deficit this year or next year given the weakness of the economy, given the financial problems and so on, it is very, very important for the Congress and administration to develop a plan and say here is how we're going to get back to fiscal sanity. Here is how we're going to bring down the deficit over time so that it gets to a low enough level that debt no longer keeps mushrooming the way it has been. So that part is the responsibility of the Congress and the administration. A very important part of that, by the way, is healthcare because a big part of the government spending is healthcare related. So that's very important. As far as the Fed and the dollar is concerned, the Fed supports the Treasury's strong dollar policy. We think the dollar should be strong. And the way we think - the best way we think to get a strong dollar is to have a strong economy. When the economy is strong, then there's a lot of good investment opportunities. Foreigners want to invest here, and that causes the dollar to rise. So our whole strategy right now is to get the economy out of the doldrums and back into a growth path that will attract foreign funds and will get the dollar and keep it strong. So that's our strategy, a strong economy for a strong dollar. JIM LEHRER: Barbara Stillman, you also have an inflation question. BARBARA STILLMAN: I'm Barbara Stillman and I've been retired for a number of years. I wonder what indicators you are considering in determining whether inflation is going to become a concern. BEN BERNANKE: We look at - the question is how do we tell what inflation's going to do. Well, first of all, we look at a lot of indicators. We look at commodity prices and - including energy prices, for example. We also look at the amount of slack in the economy. Right now with 9.5 percent unemployment and with markets as weak as they are, that is, the product markets, it's very hard for firms to raise their prices and for workers to raise their - ask for higher wages. And in fact, we're seeing prices and wages being very, very moderate. So our anticipation is that given the softness of the global economy, that except possibly for some fluctuations in energy prices, we expect for the next couple of years that inflation will be quite low. Now, coming out of this episode, as I've mentioned, the Federal Reserve has brought interest rates down close to zero. We have put a lot of money into the economy through our lending program. So we've had a lot of stimulus, which we're trying to use to make the economy grow. Once the economy starts to grow and begins to move ahead, then it will be very important for the Fed to unwind, raise interest rates, bring that credit back, bring the money back, so that we don't have an inflation problem down the road. We are very confident that we have all the tools we need to take those steps at the appropriate time so that we don't make the mistake of having inflation ultimately. But just like in the film, it's like between Scylla and Charybdis you've got to navigate between inflation, deflation, recession and too rapid expansion. And, you know, we have our tools. We're going to be watching very carefully to try to make sure that inflation stays low. JIM LEHRER: Now, Jared Campbell, you heard what the chairman said about the stimulus connection. But you have a concern about the stimulus. You have a question for the chairman about that. JARED CAMPBELL: I do. Good evening. My name is Jared Campbell. I was laid off at the end of last year. I'm happy to report that I've started working full-time last month. In regards to the stimulus, my question is: Has enough money been released this year for the impact to be what it needs to be to get the economy started again? BEN BERNANKE: Well, first, I'm glad you found work again. That's good to know. The Congress and administration, again, who put together the stimulus package, made a number of decisions which had to do with how quickly the money was going to get out versus other criteria. So for example, there's - there were a number of tax-rebate elements in that bill, and that money goes out really quickly and then people spend it over a few quarters, so that was pretty quick. But there were other parts of the stimulus, infrastructure construction, for example, building highways, that kind of thing takes longer and so if you're going to have that in your program it takes longer to get out into the economy. So Congress and the administration made the decision that they wanted to have a mixture of different kinds of elements in their stimulus program. They wanted to have some things like infrastructure that they knew were going to take some time to get out. And so the outcome and again, this was the decision that Congress made the outcome was a situation where about a quarter of all the stimulus goes out this year and about a half goes out next year. Now, given that the unemployment rate is still likely to be reasonably high next year, unfortunately, I think having that stimulus next year will actually be helpful and will create some more jobs. So those were the decisions that Congress made. We'll have to see how effective that program is. Consequences of foreclosures JIM LEHRER: Jack Craft has a question about foreclosures. JACK CRAFT: Given the significance of how - JIM LEHRER: Name and - JACK CRAFT: I'm Jack Craft. I'm a practicing lawyer in Kansas City. Given the significance of the housing crisis, is there any way for the Fed to involve itself in incentives for either the homeowners or the servicers of mortgage to prevent a deterioration of prices merely because of the foreclosures themselves? BEN BERNANKE: Foreclosures are a very big issue. We've put a lot of attention on that issue. Foreclosures are bad not only for the borrower, for the homeowner, but they're also bad for the community: When you have a lot of foreclosures in a neighborhood that brings down property values for others. It brings down tax collections for the town. As you pointed out in your question, lots of foreclosures, putting a lot of empty houses on the market, is also bringing down house prices, which is again hurting homeowners across the country. So there are a lot of bad effects of foreclosures over and above the problems that borrowers have. Now, at this point there are a number of different approaches to dealing with foreclosures and their consequences. The government -- not the Fed specifically -- but the administration and the Congress now have two anti-foreclosure programs. One is called Making Homes Affordable, which gives subsidies to servicers -- reduced interest rates -- to let them help people stay in their homes. The other one's called Help for Homeowners - or Hope for Homeowners, and that - what that does is bring down the principal balance on mortgages so that people aren't underwater having a principal balance that's greater than the value of their house. The Federal Reserve was very involved in developing those programs, and we have -- our economists helped to develop them. And in addition, we are encouraging very strongly the banks that we supervise to ramp up their staffs so they can take advantage of those programs and help reduce foreclosures. I would say also that the Kansas City Federal Reserve bank and the whole Federal Reserve System is very much involved in community activities, community work. The Federal Reserve Banks are working closely with NeighborWorks, which is a nonprofit, to help preserve communities and neighborhoods and stabilize them even though there may be a lot of foreclosures. So how do you do that, prevent the foreclosures from causing a lot of problems in a neighborhood or in a city. So we address things in a lot of different ways. Unfortunately, the foreclosure problem is still very large. We expect about 2.8 million Americans to receive foreclosure notices this year. We hope less next year. But it's one of the key things to getting the housing market to stabilize and getting our economy back on track. JIM LEHRER: Jason Wood has a related question. JASON WOOD: Thank you, Mr. Chairman. Jason Wood. I work with United Way around our two-in-one system in getting homeowners to access housing counselors. I guess my question is more in light of the report from the Federal Reserve Bank in Boston in regards to some of the monies that have been released to help homeowners and more importantly, the money that's been given to servicers. The report stated that the money maybe would have been better used if it had been given to the actual homeowners rather than the servicers. I'd like to get your commentary and what your thoughts are in regards to that. BEN BERNANKE: Yes. First let me say that I'm glad to see you're doing counseling work. We found that having a counselor helps the borrower work with the bank, raises the probability of success quite considerably, so keep up the good work. The report you're referring to was a research paper done by some Federal Reserve economists. It doesn't represent an official position of the Federal Reserve. It's just a research paper. But it addresses the fact that we don't have much experience with dealing with a foreclosure wave like this, and we don't really know necessarily what the best way is to address it. And their proposal is, instead of trying to restructure the mortgage, instead help the homeowner for the short period of time that he or she needs help: if you've lost your job, if you're sick. Maybe you just need help for a few months and then maybe that you could go back to paying your regular mortgage. So that's the proposal they made. That's not the approach the government has taken. The government has taken, as I just described, a restructuring approach, bringing down the payment or bringing down the principal. We're just going to have to see which ones of these programs work and what kinds of modifications we have to make going forward. JIM LEHRER: Speaking of going forward, you've already touched on a lot of this already, some of the things that are in the works or are being debated about how we move from here to there, some reorganization, new legislation, et cetera. And let's start first with Elma Warrick because it relates exactly to what we've been just talking about in terms of foreclosures and housing. ELMA WARRICK: Good afternoon, Chairman Bernanke. I'm Elma Warrick. I'm the executive director for Home for USA, which is a housing counseling organization HUD-approved. You know, I've heard your responses and I think they're wonderfully clear and lucid. But my question has to do with how do we, having been through this in the midst of this perfect storm, how do we protect the consumers going forward? Because frankly, the heart of the mission of the Federal Reserve was to protect the consumer. And we find, unfortunately, in this foreclosure tsunami that the consumer has become the predator rather than the fact that they were preyed on. So what will we do going forward, Chairman, to protect the consumer and make sure the consumer is served as they ought to be? BEN BERNANKE: Good question. As I mentioned earlier, the Federal Reserve's -- one of the Federal Reserve's functions is consumer protection. And we have addressed a number of issues in mortgage area, credit card areas, a bunch of other areas. As I've said before, we were late in addressing the subprime lending problem. There were a lot of loans made that were done without documentation, for example, that were done without clarity about prepayment penalties, that were done without clarity about escrow accounts. The Federal Reserve a few years ago addressed those issues and we put together a set of rules which now apply to all lenders, not just banks but all lenders, that will, I hope, solve those problems going forward. But they weren't in place early enough, and that is a -- I think we have to take some heat for that, and I think that's appropriate. But going forward, we have set some rules. The administration, of course, as you may know, has yet a more ambitious plan. They want to create a separate consumer financial protection agency that will have its only mission protecting consumers. So whether the Federal Reserve does it or another agency does it, I hope that we'll learn some lessons from this episode and make sure the consumers can make good choices but that the choices they have are clear, transparent, so that they can shop and not be fooled or deceived in terms of the kinds of financial products that they use. ELMA WARRRICK: Thank you. JIM LEHRER: Erica Shackelford has a related question. ERICA SHACKELFORD: Good afternoon, Mr. Chairman. Erica Shackelford. I'm affiliated with the Urban League of Greater Kansas City and I'm also a full-time student. Thinking about the mortgage crisis, predatory lenders allowed people to get themselves into loans that they could not afford. What does the Federal Reserve plan to do to educate the public in the future so that this type of crisis does not reoccur? And also, would you support a mandatory education component as part of the mortgage-lending process? BEN BERNANKE: Well, you know, first, as I mentioned, we have done the regulations, but we also are very much in favor of financial education, financial literacy. The Federal Reserve, including the Kansas City Federal Reserve, have numerous financial literacy programs. We provide - on our Web sites we provide courses. We work with all kinds of groups that provide financial training. I think it's very, very important that people have that kind of experience now because everybody has to deal with complicated financial products in their everyday life. So I'd like to see more financial-literacy courses in schools. Our experience is -- and we have a number of people here who are counselors -- our experience is that the most effective time to teach people about financial products is when they're thinking about buying. If you're thinking about buying a house, that's the time people listen real carefully when you explain mortgages to them. In high school, we see less-effective results. But financial literacy, economic education, it's a big mission of the Federal Reserve. You mentioned predatory lending. We've also gotten to public education. We put out, for example, a public service announcement that's playing in movie houses. I don't know if you saw it or not. But there are a lot of scams out there now. There are people who are taking advantage of people who are afraid of losing their homes. And it's very important that if you are afraid of losing your home, if you have gotten a foreclosure notice and you're working with a bank, it's very careful - it's very important to be sure that if you have been approached by some counselor or someone who says they're going to help you to make sure they're legitimate because there are scams out there, and we have been working on those and trying to keep people alert to those. JIM LEHRER: But you used the word mandatory. You asked the chairman whether it should be mandatory to be counseled in a financial - in a homing - home owning - home buying situation, correct? ERICA SHACKELFORD: That's correct. The question was, would you support mandatory education - a mandatory education component as a part of the mortgage lending process going forward? BEN BERNANKE: I'd be open to that. I think a lot of people could use that. JIM LEHRER: In other words, somebody would sign something that they have to know - BEN BERNANKE: That they've had some - JIM LEHRER: - they had to know the rules - BEN BERNANKE: Yeah. JIM LEHRER: - before they - BEN BERNANKE: Yeah. That's not a Federal Reserve-specific issue in the sense of our authority, but I think it's worth looking at. ERICA SHACKELFORD: Thank you, Mr. Chairman. JIM LEHRER: Rob Givens, you have a question on the consumer-protection issue that has come into public - ROB GIVENS: Thank you, Mr. Chairman. Rob Givens, president of Mazuma Credit Union here in - locally. A lot of financial institutions have been under compliance and regulatory control for a long time. There's some concern that creating a new federal agency separating some of those responsibilities and then adding perhaps some additional responsibilities from the Fed for consumer regulation would in fact put an additional burden on small institutions which would then cause them to fail and leave more too-big-to-fail people out there. What's your sense of how that - that new agency and where it's funded and - I mean there's a lot of issues with that, and how that plays with the Fed's responsibility. BEN BERNANKE: Right. So this is the proposal by the administration to create a consumer financial-protection agency. And, you know, I can understand the motivation for creating such an agency. It would be an agency that would be focused on consumer issues. But there are some drawbacks, and you mentioned one, which is that if the consumer protection agency has its own examination force, its own going out - examiners going out to banks and then the banks will have to see both the safety and soundness examiners from the Fed or from the office of the comptroller of the currency as well as the consumer-protection agency's examiner. So there would be a duplication of effort to some extent. And some of the knowledge and information that one group gathers would not necessarily go to the other group. Another possibility which has been discussed would be to leave the examination authorities with the banking agencies themselves where they are now, and just move the rule-writing authority to the consumer-protection agency, which is another possibility. That also has some issues, because then the rule-writers would not be together with the examiners. They wouldn't get the feedback, they wouldn't get the knowledge that the examiners get every day on the ground, in banks. So it's a tough issue, and I know Congress is going to be wrestling this for some time. JIM LEHRER: But you're opposed to it, right? BEN BERNANKE: I'm neither opposed to it or in favor of it. I just want to make the point - I think there's an important point to be made, which is I acknowledge that the Fed was late on subprime lending regulations. I acknowledge that. But for the last two-and-a-half, three years, the Fed has been very, very active in mortgage areas, in credit cards, in student loans, in all kinds of areas, and we've been very effective. And so I'm just saying that we've done a good job and we're an alternative if this agency doesn't work out. But again, I understand why people would say you need an agency that's focused on this area. JIM LEHRER: I've got an online question from Robert Dietrich in Towson, Md. "What do you see is the most significant current or potential threat to the Federal Reserve's independence?" BEN BERNANKE: Well, again, the independence of the Fed is extraordinarily important. If the Congress or the administration were to begin to interfere with our monetary policy decisions, then the markets would say, "Wait a minute, if there's going to be more inflation because of political reasons, more inflation because the government wants to the Fed to spend money in order to pay for the deficit." So it's incredibly important that the Fed maintain its independence. I think we will. I think we need just to be very vigilant and make sure that there isn't any bill or any other effort made by anyone to take away that independence. And we're going to do our best to maintain it because it is so critical for the stability of our economy. JIM LEHRER: As you know, there's an effort in Congress now, in the House in particular, to audit what the Federal Reserve does, particularly a monetary policy. How do you feel about that? BEN BERNANKE: So that bill - people don't fully understand what that bill is about. It sounds like audit the Fed, it sounds like let's look at the books. It's not what it sounds like. The Congress already looks at our books. We have many different layers of auditors. The GAO, the General Accountability Office, which is supposed to be doing this audit, already looks at virtually all of our activities, and the ones it doesn't - our financial books and our financial loans and so on, and the ones it's not looking at and where the taxpayer needs some assurance is we're willing to work with Congress to make sure that the GAO gets the information it needs. What people don't understand is that this bill would give the GAO the authority to audit monetary policy. And what does that mean? That means that if the Federal Reserve decided a year from now that because of incipient inflation it was time to raise interest rates, that the Congress would say, "Oh, the GAO's going to audit that decision. It's going to subpoena your materials. It's going to demand information from the members of the FOMC. It's going to evaluate your decision and report to Congress." I don't think that's consistent with independence. So we are completely open to providing any information that Congress wants to make sure we're using taxpayer money safely and soundly, that we are meeting all our responsibilities. I don't think the American people want Congress running monetary policy, and I think that's very, very critical for people to understand. JIM LEHRER: And do you think that's what -- would end up doing? BEN BERNANKE: Exactly. That's what it would do. There's a provision in that law which currently, current law, which carves out monetary policy, and it doesn't give Congress authority or GAO authority to audit it. That was put in in 1978, at a time when we had a lot of inflation, as you may remember. After that, the Fed became more independent, brought inflation down. But now that's exactly what it would do. If that carve-out is eliminated, the Congress would have the authority anytime to ask the GAO to come in and audit and look at and evaluate the monetary policy decisions made by the Fed. That's not consistent with independence. Lessons of the Great Depression JIM LEHRER: Crosby Kemper has a question about regulating. CROSBY KEMPER: Crosby Kemper, Mr. Chairman. I've also been a banker in Kansas City and now I'm a librarian. As a banker, I can tell you that the two banks who are represented here, my cousin and I, are two of the solvent banks left in the country. So welcome to Kansas City. You can relax. (Laughter.) And - but I'm also a librarian today. I'm the director of the Kansas City Public Library and an amateur historian. And I've read your book, "Essays on the Great Depression." Wonderful book. And you talk about two causes of the Great Depression. One is the failure to the Federal Reserve to provide an adequate monetary policy. It tightened too much during the days after the stock market crash. And you talked about the non-monetary problems, part of which was the failure, despite great liquidity of the banking system, to respond to the problems of production and unemployment. And I wonder if there isn't a similar problem going on today in regulation where you're going exactly the other direction, with too much monetary policy; I mean, too much money creation in your monetary policy, in an attempt to intervene to control prices through the mortgage programs and other things, if we aren't getting to the stage on the opposite end of too much regulation, too much government intervention, just at the moment when it looks like the economy may be turning around bottoming out. BEN BERNANKE: Well, thank you for reading my book. (Laughter.) I'd be glad to autograph it if you have it with you. (Laughter.) I learned -- I did spend a lot of my career studying the Great Depression and other financial crises. And I didn't expect it would be so helpful, so useful, as it has been. But I learned three lessons from my work on the Great Depression, and you identified two of them. The first one was monetary policy has to be supportive, not restrictive. In the 1930s, the Federal Reserve allowed the money supply to collapse, allowed prices to fall, and that was a major force -- a major factor in the Depression. So this time the Fed was aggressive in cutting interest rates, providing supportive monetary policy, and getting, you know, that part going. The second thing I learned from looking at the Depression was, as I mentioned before, that allowing the financial system to collapse -- and we had several thousand bank failures here in the United States in the 1930s which the Fed could have stopped, or at least most of them. Letting the financial system collapse is also a very, very bad thing to do, and it contributed very considerably to the collapse in the credit markets and, again, to the Great Depression. And for that reason I have taken the approach that we want to make sure that the financial markets are as stabilized as possible, that we don't have a financial collapse because we know what the consequences of that can be for the broad economy. But the third thing I learned was this - that the Federal Reserve in the 1930s was completely orthodox. It did things today we think are wrong, but it was doing it based on what at the time were the standard policies, the standard approaches. They didn't use anything unusual. And I think what I learned from that is that when you're in a situation like this, a perfect storm, sometimes you've got to do something a little bit outside the box, a little bit more aggressive. And so when the Federal Reserve got interest rates down to zero, we couldn't cut it anymore and so we had tried to address a lot of the other problems, like fixing the credit markets in the ways that you described. Now, your point is absolutely right, and someone else mentioned this before. We can't do that forever. Eventually the credit markets have got to go back completely into private hands, the private sector needs to be allocating credit. We are trying to support the markets now, in a period when I think the economy still needs help and when I don't think inflation is a near-term problem. But you're absolutely right that as the economy begins to show strength, then we're going to have to gradually unwind, pull out those special programs, and let the economy do what it's supposed to do, which is allocate credit to the best uses. JIM LEHRER: And, Manuel Abarca, you have a question? MANUEL ABARCA: My name is Manny Abarca and I'm a current student in the University of Central Missouri. My question is, as a student and future professional, what would you recommend to my generation to handle this current situation, financial crisis, and prevent future crises from happening? BEN BERNANKE: Well, I've some kids out of college and we've had some discussions about this. I think this affects you both on a personal basis and on a broad national-policy basis. Personally, I just want to say that we recognize that there are a lot of people graduating from college or graduate school right now and see a very tough job market right now, and we know that, and it's not your fault. And it's part of the reason that we're so aggressive trying to get this economy moving again. But I would urge you in looking for jobs to not give up, because the way the job market works is -- job markets just don't - jobs just don't disappear. What happens is that some jobs are created and others disappear. So, for example, right here in Kansas City, there've been some pretty significant layoffs, but then also in the last year there's been some pretty big hires as well - not enough to offset the layoffs, but still some hires. So the labor market is always churning. There's new jobs being created, other jobs being destroyed. You need to look. You need to see what you can find. And when you look, you need to be flexible and you need to say, maybe this isn't my ideal, long-term job, but it's a job that I can learn something from, I can get some work experience, and when this economy improves, which it will, then I'll have the background and the experience I need to get the job I really wanted. So let me just give you that bit of encouragement. On keeping this from happening again, you know, we've had financial crises since the 1300 and 1400s. They happen all the time. This is a particularly bad one. So I don't think we're ever going to completely eliminate financial crises, but there's a lot we can do to make sure that one this severe and this damaging doesn't occur again in the United States. And there I haven't had much chance to talk about it, but the Federal Reserve and the administration have made proposals about how to change our financial-regulatory system. And let me just mention two parts of it. One part is we need to have a more system-wide approach. Instead of just looking at a silo at each individual institution, each individual market, we need to have a council or a group of regulators that looks at the financial system as a whole and looks for gaps and problems that can cause trouble. So that's one important element. The other important element -- and let me just reiterate this again -- too big to fail has got to go, and to get rid of too big to fail, we need a way to let big companies fail safely. And to do that, we need a new kind of bankruptcy process that's similar to what the FDIC already has for banks that will allow the government to come in and to take a failing company and to unwind it, sell it off, let it fail, but do it in a way that doesn't bring the whole financial system down. And so those two things I think would be a tremendous help in both stopping future financial crises, but if one occurs making sure it doesn't have as negative and adverse effect on the economy as this one has. JIM LEHRER: Peter Cabell has a question about the stock market. PETER CABELL: Chairman Bernanke, my name is Pete Cabell and, as was mentioned, my question is about investing. JIM LEHRER: Give us a line about you, sir. PETER CABELL: A line about me? I'm currently working at a nonprofit. Over the last 10, 11, 12 years, the market has - U.S. market, stock market has not delivered a sustained positive return. As we all get closer to retirement, that's a big problem. Despite the decade-long -- bounce off a decade-long low, the market still has a lot further to go to make portfolios whole. So as we go forward, is there a good engine to invest in as an alternative to the stock market that would be reasonable to look at? BEN BERNANKE: So I can't practice financial advising without a license over here. (Laughter.) I think the answer to your question, and it would depend very much on your individual circumstances -- you're a young man, you're not about to retire -- is diversification. The stock market is very volatile. It's risky and we've seen how it's gone up and down twice now in the last 10 years, but over long periods of time it tends to do somewhat better than bonds, for example. And so generally speaking unless you're very close to retirement you probably ought to have some stocks and equities in your portfolio, but you can diversify through a whole range of different things, including bonds or CDs, including even perhaps commodities and other types of investments. So I guess I'd give you two pieces of advice. One is to diversify your investments that you have a lot of different things so that if one thing goes up maybe something else, you know, will go down and just balance out. The other thing I would suggest to you is don't try to time the market. You can't. You know, people - it's very, very difficult to do it and there may be a couple people in the world who can do it, but if they are, they're not telling you. So pick an allocation of assets and stick with it. And over a long period of time, as long as the economy is healthy -- and that's the key thing -- as long as the economy is growing, which I believe it will, I believe we have a very good long term future here in this country - then that asset mix will do OK. So that's about as far as I can go, otherwise I think I would get malpractice suits going on. (Laughter.) JIM LEHRER: A question for Alicia Falcone - from Alicia Falcone. ALICIA FALCONE: Mr. Bernanke, I am a marketing consultant here in Kansas City and my question for you is, you've had a chance to oversee the Fed during a historic time in our country's history. What keeps you up at night relative to being the Fed chairman and looking at our economy over the near- and medium-term? BEN BERNANKE: Well, first, let me say that the Fed Reserve does not equal the chairman. One of the things I wanted to do when I became chairman was to try to sort of depersonalize the Federal Reserve at some extent. The Federal Reserve is an outstanding organization. We have terrific staff, terrific presidents around the country, Reserve banks and governors, so it's not all on my shoulders. I know there's a lot of people there who are watching 24/7. We have people who worked 100 hour a week through the financial crisis, for week after week so it's not just me. You know, there's plenty of people there who are doing good work and I can sleep at night knowing that they're on the job. More generally, I worry about the same stuff that you would think I worry about. I worry about the economy and the financial markets. I worry about how we're going to deal with these credit issues, but I try to do it during the daytime because if I do it at night, I might not be thinking so straight during the day. So that's kind of where I am. JIM LEHRER: But there's no overriding concern that you have right now that of all the things you've done, you and your colleagues and the financial - Congress, the administration whatever, there's no overriding concern that you have every day or right now? BEN BERNANKE: Well, I continue to look at the financial markets. I think they've improved quite noticeably. JIM LEHRER: Is that a criterion for testing? BEN BERNANKE: That's a very important one, the financial markets, because after all this has been a financial crisis, it was the financial crisis that caused the global recession. I follow the economy extremely closely. JIM LEHRER: How do you follow it? What are the measurements? BEN BERNANKE: I get reports and data and survey materials and everything all through the day. My inbox is always full. JIM LEHRER: Like on what is - like what? Like on housing, on - BEN BERNANKE: On housing, on the job market, on industrial production, on what's happening in the financial market. One thing is people sometimes ask me, do you have like a single indicator or a single variable? The answer is no, because it's a big, complicated economy and it's kind of like the elephant in the Indian folktale where everybody sees a different part of it. In order to get - JIM LEHRER: I'm not sure I heard that. I don't know about it. BEN BERNANKE: Yes. It was an elephant and you had six blind people feeling the elephant. And one feels the tail and says, an elephant is like a rope. And another feels the trunk and says, it's like a tree, and so on and so on. And the only person who can see the whole elephant, obviously, is somebody who has been all around and looked at all the different parts of the elephant. So we've got an elephant of an economy. It's got lots of different parts. You've got to look at everything. There's not a single one variable or another that is critical, there are a lot that are very interesting and we pay a lot of attention for example, to unemployment insurance claims, which is a weekly indicator what the legal market is doing. Lot of other variables, but generally speaking, we them all together and try to get sort of a holistic picture out of all the data and information that we get, including information that comes from the Federal Reserve banks, because each of the Federal Reserve banks has got a board and advisory councils and the president of the Federal Reserve banks, when they come to Washington for federal open market committee monetary policy meetings, they bring anecdotes, information about what people are seeing, kind of like this meeting here. And that's very helpful because the data we get is backward looking. We're going to get data this week on the second quarter GDP. Well, the second quarter is over already. If we want to know what's going to happen in the third quarter and the fourth quarter, it helps to know what business people are saying, what bankers are saying and we get that information from all our Reserve banks around the country and so not just numbers, but also anecdotes, personal information can be very helpful in forecasting the economy. JIM LEHRER: So to answer Ms. Falcone's question then, once you put all that together on this particular Sunday night, you're going to sleep well? BEN BERNANKE: I'm pretty tired. (Laughter.) JIM LEHRER: Thank you very much, Mr. Chairman. BEN BERNANKE: Thank you. JIM LEHRER: It was a pleasure. I want to thank all of you in the audience, all of you who participated with questions and all of you who participated as the audience. I want to thank our online viewers. We didn't get to too many of them, but we got to a few. And I also want to thank our local television host, public station KCPT, and then the Kansas City Consensus organization that helped select the folks who are here. And I also definitely want to thank the folks here at the Federal Reserve Bank of Kansas City. And that ends it. And from Kansas City, Mo., I'm Jim Lehrer. Thank you and good night.

PBS Jim Lehrer News Hour presents a Town Hall Meeting with Federal Reserve Chairman Benjamin Bernanke. JIM LEHRER: Good evening. I'm Jim Lehrer from the Federal Reserve Bank in Kansas City, Mo., and I welcome you to this special PBS NewsHour forum: "On the Record with Bernanke" -- Ben Bernanke, the chairman of the Federal Reserve. His role in matters financial and economic, most particularly in the immediate past and future, is paramount, and that is what he will be talking about tonight with a group of people from and around Kansas City. The nonpartisan organization Kansas City Consensus helped us identify and select them. Those who will ask questions are sitting there in the center section directly in front of Chairman Bernanke and me. They have been pre-interviewed by NewsHour staff members about what they have on their mind to ask the chairman. I also have a few questions that have been emailed to us at our Online NewsHour site. And we'll get some perspective-setting help from NewsHour economics correspondent Paul Solman. Mr. Chairman, welcome, sir. BEN BERNANKE, chairman, Federal Reserve: Thank you. JIM LEHRER: Underlying many of the questions that these folks have are questions that are basic about the Federal Reserve itself. For instance, I'd like for Gwen Bailey to stand up. Ms. Bailey, tell the chairman - get your mike, please. Tell the chairman what you told our producer when she talked to you about your questions for the chairman. GWEN BAILEY: My name is Gwen Bailey. I'm a social worker with Visiting Nurse Association. And my particular interest is exactly what is the Federal Reserve? I don't have a clue what they do, how they impact our lives, and that is why I was very interested to be selected to participate in this forum. BEN BERNANKE: Gwen, you've got a good place to start there. The Federal Reserve is an independent government agency also called the central bank. It was founded about 100 years ago. It was founded actually in the beginning to try to address financial crises. There had been a panic in 1907 and that started the process by which Woodrow Wilson created the Federal Reserve. So throughout our 100-year history, we have been very much involved in dealing with financial crises, trying to address situations just like we have now, when the financial markets are in disarray and they're affecting the economy. The Fed has some other important functions as well. The Fed makes monetary policy, and what that means is that we, including President Hoenig here from Kansas City, meet and set short-term interest rates. We set short-term interest rates in order to try to keep the economy on track. We have a mandate from the Congress to move interest rates up and down as needed to try to promote employment and to keep prices stable, keep inflation low. So monetary policy, moving interest rates around is very important. We have lots of other things we do as well. We work with other supervisors to try to make sure the banking system is stable. We've had a lot of work to do on that in the last couple of years. And many people don't know, we also do consumer protection. So if you look at your credit card bill, you'll see the periodic statement. The structure, the lines, and the way that's organized was determined by the Federal Reserve and the Federal Reserve sets a lot of the rules associated with how credit cards can be charged, the kinds of the penalties, fees and so on. So broadly speaking, financial stability, trying to keep the financial market stable; monetary policy, interest rates to move the economy into a higher pace or a lower pace; banking supervision; and consumer protection. And so a whole range of financial economic issues. JIM LEHRER: Thank you, Ms. Bailey. Just to follow up, Mr. Chairman, when you say independent agency, define independent. BEN BERNANKE: We are an agency of the government, but we're - within the government we need to have some independence from Congress and the administration, and the most important area is monetary policy. There's a lot of evidence that when politicians make monetary policy, you don't get good results. Politicians have a short-term horizon. When they want the central bank to print money to pay for the government deficit, either one of those things is going to create a lot of inflation. What we've learned over time, and there is a lot of evidence to support this, is that when the Central Bank is allowed to make monetary policy with the interest - the long-term interests of the economy in mind, without the interference of the administration or the Congress, you get much better results. You get low inflation and you get good growth. This has been seen all around the world. So we're very, very sensitive to this issue. We want to be very sure that when we make monetary policy that we're doing it in a non-partisan way, that we're going it based on what's good for the economy and that we're not being told what to do by the president or the Congress. JIM LEHRER: So when you get up in the morning, who do you go to work for? Who do you feel you're answerable to? BEN BERNANKE: I'm answerable to the American people. I was appointed by the president to a 14-year term as a governor but a four-year term as the chairman of the Fed, and I was approved - I was confirmed by the Senate. So I obviously go through a political process to be appointed, but again, the Federal Reserve governors, the Board of Governors, the seven people who are at the head of the Fed in Washington, are generally professionals, technical people, people who are not lifetime politicians, people who wanted to serve the country using their knowledge in one of these areas that I was talking about like banking or monetary policy. JIM LEHRER: When somebody says, oh, the Fed is the - essentially the fourth branch of government, how do you react to that? BEN BERNANKE: That's a tremendous exaggeration. As I said, the Fed needs independence in making monetary policy, and that's good for everybody because it helps keep inflation low. But we are very accountable. We have to report regularly and frequently to the Congress. I was - just this last week I had to testify - maybe you saw me on television - I had to testify before both the House and the Senate explaining our policies, what we're doing, and reporting to the Congress and the American people about our ideas, our decisions, and how they affect the economy. And again, we are subject to the appointment process, and Congress can change the rules as well. So it's not a constitutional type situation. It's one where our independence has to be won every day, if you will, in that we have to show that we are producing good results and doing so without intervention or interference from other political bodies. Understanding the Federal Reserve JIM LEHRER: OK. Got it. Now, to set the various stages for where we go from here, we a have a report by NewsHour economics correspondent Paul Solman. PAUL SOLMAN: In Missouri, with more Federal Reserve branches than any state in the country, Kansas City, with more fountains than any city outside Rome. Where better, we thought, to launch an explanation of the Fed's actions to supply liquidity so the economy can remain afloat. Economist Nick Perna. NICK PERNA: Just like that old metaphor about the Federal Reserve trying to steer a course between inflation and recession. I'm sure you did a segment 20 years ago with a couple of my great old professors from MIT. PAUL SOLMAN: Indeed, we did. Twenty years ago we went to sea with Nobel laureates Bob Solow and Franco Modigliani, who gave the image of Fed chairman as boat captain a classical twist. FRANCO MODIGLIANI: He reminds me of a famous passage in the Odyssey that describes Ulysses trying to negotiate a passage between the two rocks. PAUL SOLMAN: In Homer's epic poem "The Odyssey," one rock harbored six-headed Scylla. To the economic professors, Scylla symbolized the dangers of inflation which makes money worth less. Beneath the Odyssey's other rock, Charybdis, a ship-sucking whirlpool - to the economists, symbolic of the downward spiral of recession and unemployment. BOB SOLOW: A little bit of recession creates a little pressure for more recession. My business is bad, I buy fewer materials. I lay off workers. They can't spend incomes they don't have. PAUL SOLMAN: Thus the Fed's job - to steer a steady, sturdy middle course. No wonder the Fed is built to seem so Washington reassuring. DONALD KOHN, vice chairman, Federal Reserve: This is the boardroom where the Board of Governors meets. PAUL SOLMAN: Don Kohn is current vice chairman of the Fed. DONALD KOHN: This is also the room where the Federal Open Market Committee meets to discuss monetary policy. PAUL SOLMAN: And to make monetary policy, which is how the Fed steers, by deciding to draw money out of the economy if inflation threatens, pump money in, if - as now - recession is the monster. NICK PERNA: So when the Federal Open Market Committee makes policy decisions, it's the job of the desk at the market groups to actually go out and implement that. PAUL SOLMAN: The desk is at the stout New York Fed, famous for the five metric tons of gold - more than Fort Knox - tucked underground. 'Die Hard with a Vengeance' had to recreate the vault. Fourteen floors above the gold, Brian Sack runs the open market desk. BRIAN SACK, executive vice president, Federal Reserve Bank of New York: In open market operations the way we create money is by buying securities. PAUL SOLMAN: Amazingly, the Fed's usual job for almost a century is as simple as that. To add money to the economy the Fed buys U.S. government securities, on this date, $3 billion worth, and thereby creates new money - federal reserves. It's supplying, in Fed-speak, liquidity. BRIAN SACK: Financial firms will be giving us Treasury securities. In return, they'll be getting reserves or liquid assets that they can use for a variety of purposes. PAUL. SOLMAN: But they're not really anything. I mean they're just electronic entries somewhere on their books? BRIAN SACK: Right, right. Yeah. We don't send a truck out with $3 billion of bills. PAUL SOLMAN: But to financial firms, the reserves are like cash in the vault. The more reserves banks have, the more loans they can make, and in competing to make them the lower the interest rates they offer. The usual result, more money flows through the economy. Returning to the water metaphor, however, these were not usual times. That's because what everyone's been calling a perfect storm hit. The economy appeared to be going under. The Fed responded with what seemed like a radical laundry list. It pumped money into the system short term, lowering overnight interest rates dramatically; it loaned money longer term to financial firms in peril. Finally with Treasury, it gave money to fragile firms directly. Back in the watery city of fountains, economist Nick Perna. NICK PERNA: What they did was to provide financial liquidity, not the stuff we're standing in right now. They bought commercial paper, mortgage-backed securities. They bought preferred stock. They made direct loans. They injected hundreds of billions of dollars of funds, of liquidity, into the financial system. PAUL SOLMAN: So, 20 years after we first shot him explaining the Fed on Martha's Vineyard where he summers, we asked Bob Solow to return to his steering-the-course metaphor. And we're using this boat because we're not going out on the water in this kind of wind. Steering the course between inflation and recession. Fed drives interest rates down almost to zero and yet we're still headed into a whirlpool of recession. What happened? BOB SOLOW: Well, think of it this way. In normal winds the Fed can steer between inflation and recession by making small adjustments. But then a year or 18 months ago, there weren't normal winds. There was a perfect storm, a really dangerous blow, and a boat like this can't make headway against that. It'll get knocked down. So the Fed had to try something dramatically different, way outside of normal procedures, and it did. Building a new framework JIM LEHRER: Mr. Chairman, first, do you agree with the perfect storm analogy? BEN BERNANKE: A lot of things happened. A lot of things came together. It created I think probably the worst financial crisis certainly since the Great Depression, and possibly even including the Great Depression, so yes, I agree. JIM LEHRER: What were your worst moments, for you personally? BEN BERNANKE: Oh, the worst moments were back in September. The financial crisis began with Fannie Mae and Freddie Mac, the large housing companies that were taken over by the government, and subsequent to that a number of very large financial firms came under enormous pressure. One of them, Lehman Brothers, an investment bank, failed. Others came close to failure, needed government support, not just in the United States, but around the world. And those were some very long nights I spent on the sofa in my office as we worked to try to keep the financial system running. JIM LEHRER: Let's go to a question here from Janelle Sjue about this very thing, the storm and what Chairman Bernanke and others at the Fed were doing. JANELLE SJUE: Hi, I'm Janelle Sjue, a Kansas City mother. I guess I have a couple short questions. First of all, we've given millions - hundreds of millions of dollars of tax money to these large corporations, these behemoths. Is that going to be enough to correct the situation? And secondly, you know, I'll use the analogy of nature. When a prairie fire burns through, it takes out all the big overgrowth and allows all the small stuff to pop up. Why don't we just let the behemoths lay down and then make room for the small businesses? Thank you. BEN BERNANKE: That's a great question. The problem we have is that in a financial crisis if you let the big firms collapse in a disorderly way, they'll bring down the whole system. When Lehman Brothers failed, the financial markets went into anaphylactic shock basically, and it was that shock to the financial system that led the global recession that began last fall, which is probably the worst one since World War II. So it wasn't to help the big firms that we intervened. It was to stabilize the financial system and protect the entire global economy. Now, you might ask, you know, what's the deal? Why are we doing that? It's a terrible problem. It's a problem called a too-big-to-fail problem. These companies have turned out to be too big to allow to collapse because, again, if they collapse the - when the elephant falls down, all the grass gets crushed as well. We really need - and this is critically important - we really need a new regulatory framework that will make sure that we do not have this problem in the future. And the present administration has proposed a system that would include - let me just mention two items. First, that the Federal Reserve would oversee all these major big firms that are, quote, "too big to fail," and would put extra tough requirements on their capital and their activities, what they can do, the risks they can take. That would be the first part. But the second part is very important. We would modify the bankruptcy code. The problem now is that the bankruptcy code is such that when one of these firms fails, it's a disorderly mess. What we need is a system where the government can say, this firm is about to fail, we can't let it just fail, but we've got to - we don't want - also we don't want to prop it up either. We need an alternative between bailout and bankruptcy, and that alternative is a system where the government can come in and seize the firm and then unwind it in an orderly way, sell off the assets, and do that in a way that does not cause chaos in the financial markets. We have a system like that already. Right now the Federal Deposit Insurance Corporation, whenever a small bank or medium-sized bank is about to fail, it can come in before it fails, grab it, sell off assets, pay off the depositors, and this all happens without causing a huge problem in the financial market. That's what we need. And I agree with everyone here, too big to fail is a terrible situation. We've got to fix that. And I think that's the top priority for policy going forward. JIM LEHRER: Bill Black here, staying on the storm question, has a short question on this. Bill Black. BILL BLACK: Bill Black, professor of economics, law, criminology and former financial regulator, UMKC. If this is a terrible situation and creates this kind of moral hazard, all theory says we need to remove the officers who put us in the situation. When will the Fed begin to remove those officers? BEN BERNANKE: Well, when we've gotten into situations where companies were actually failing and had to be supported, first, I should say that this was not a Fed operation. The Fed and the Treasury have worked closely together, so it's been a broader - and the FDIC has participated as well. In those cases where companies were prevented from failing, the shareholders typically lost virtually all their money and we did replace the officers. Take, for example, AIG. The AIG CEO was fired. The shareholders lost all their money. Bear Stearns. Bear Stearns' shareholders lost all their money and the company was taken over by another company. So, you know, in most cases we have replaced the leadership and we have made sure the shareholders have lost the greatest part of the value. JIM LEHRER: Got an e-mail, Mr. Chairman. This is from is Carl Deninger in Knoxville, Florida. The question is, "Since this crisis began with people unable to pay their bills and continues to be marked by this problem, how does expanding credit solve the problem? Isn't that going to be like giving a drunk a bottle of whiskey and calling him cured"? BEN BERNANKE: Well, we have a case here of overreaction. It's true to some extent that this crisis was caused by too much credit, credit that was too risky, too easy. That's all true. But the financial crisis has caused a huge reaction in the other direction. And if you're - if you have a small business and you've tried to get a loan, you know that credit is very, very tight right now. We need to have sort of a middle course between credit that is excessively risky, excessively easy, and credit which is so tight that legitimate borrowers can't get credit. The Federal Reserve has been working hard on this in a lot of ways. First, we've cut interest rates all the way to zero, the short-term interest rate, the one that we control. We've then worked with banks to try to increase their lending. And we have a whole set of programs. Let me just talk about one. We have a program that lends to investors who want to purchase consumer or small business loans from banks, and that puts more money into the system. And what we've found is that this program has brought down auto loan interest rates. We've helped finance 1.6 million auto loans. It's helped a lot in small business loans. We've financed about 600,000 small business loans. And so we have actually intervened in the market to try and get the credit markets working again. So we had too much credit. It was too risky. It was too excessive. Now we've got to bring things back to sort of a nice middle ground. JIM LEHRER: Jonathan Kempner, question. JONATHAN KEMPER: I'm Jonathan Kemper. I'm a fifth generation community banker here in Kansas City. My question is, you reacted to a perfect storm going in, but I think the judge is going to be how you come out of it. As you talk about these new programs, all these special programs, are they going to be part of the normal course of business for the Fed going forward? BEN BERNANKE: No, they won't. That's a good question. We have some programs we've had for a while, which are - as you would know, are short-term lending programs to banks when they need liquidity for short-term periods. And that's been around since the beginning of the Fed, and that would continue. But all the other programs, the special programs we put together to help in the commercial paper market, to help in the consumer loan market, to help in the mortgage market, all of those will eventually be unwound and be taken away as the normal market processes begin to function again. We need to do that because we want to make sure, first, that markets go back to normal, that credit is allocated through the market process, and secondly, because at some point when the economy begins to recover we want to make sure that we don't overstimulate the economy into an inflation. And so for both of those reasons we're going to have unwind essentially all of the programs that are being put out. JIM LEHRER: Dave Huston, you have a question in the same area? DAVID HUSTON: Hi. Welcome to Kansas City. JIM LEHRER: Thank you. DAVID HUSTON: My name is David Huston. I'm a third generation small business owner with offices here in Shawnee, Kansas, a suburb of Kansas City, Des Moines and Omaha. My question is partly a statement but also a question. I said I'm very, very frustrated during the past year when I see billions and billions of dollars sent to large financial institutions, and it's what we were alluding to before. I'm especially upset when I hear the phrase, and you used this, quote, "that company is too big to fail." As a small business person, that's very hard to swallow. I feel like a more accurate statement of policy would be too big to fail, too small to save. My business and thousands of others fall into that too small to save category. Small businesses employ more people than the Fortune 500 companies combined. Small businesses represent the blood - the lifeblood of small business - small cities, large cities and our American economy. Innovation and creativity is coming from small businesses. But I truly believe small business and the companies that support - JIM LEHRER: Question. Question. DAVID HUSTON: - small business are getting shortchanged by the Federal Reserve, the Treasury Department and Congress. Am I wrong on that perception? BEN BERNANKE: Great question. Tough question, but a great question. Let me go first back to too big to fail, and let me just emphasize that nothing made me more frustrated, more angry, than having to intervene, particularly in a couple of cases where taking wild bets had forced these companies close to bankruptcy. There's nothing that made me angrier than having to do that. Why did we do it? Because if that company had collapsed in the middle of a crisis it could have brought everything down. In 1929 - people think the Depression was created by the stock market crash. It wasn't. From 1929 to 1931, it was a normal recession. Then in 1931 a huge bank in the middle of central Europe collapsed and that created a global financial crisis which then made the recession into a Great Depression. I was not going to be the Federal Reserve chairman who presided over the second Great Depression, and for that reason, I had to hold my nose and stop those firms from failing. I am as disgusted about it as you are, and I think it's absolutely critical as we go forward that we put in a new system that will make sure that when a firm does not succeed in the marketplace, that it fails. That is absolutely critical and I support that 100 percent. Now, on small business, I also agree with you. Small business is where the jobs come from, it's where the innovation comes from, it's where the creativity and entrepreneurship in America comes from. Every big company was once a small company, and so we really have to preserve and protect and strengthen small business, and I'm fully aware of those issues. We hear all the time about the credit issues for small business. We're doing what we can. As I mentioned, our program to get small business loans out. We're working with the banks, encouraging them to make loans. I understand your frustration. I absolutely understand your frustration, and we're working really hard to try to make it better. JIM LEHRER: Mr. Chairman, as I'm sure you know, there were competing pieces in the Sunday New York Times op-ed section on the question of whether you deserve another term as chairman, and the negative part was written by - piece was written by Anna Jacobson Schwartz. She's an economist from the National Bureau of Economic Research. I'm aware that you know her. But let me just read you what she said, which relates to this particular question that we're talking about here as the storm and how the Fed reacted. Quote, "The Fed delivered plenty of rhetoric about the importance of transparency, yet failed to articulate its own goals. The market was thus bewildered when the Fed rescued certain firms and not others. Mr. Bernanke should have explained the principles behind these decisions. The market could not understand why the Fed rescued Bear Stearns and then permitted Lehman Brothers to die. As a consequence, there was volatility in the credit and equity markets and a general sense of turmoil that demonstrated that participants were at a loss to understand the functioning of the Fed." Your comment, sir? BEN BERNANKE: My comment is that we tried to save all these big companies because we knew the implications. We tried to save Lehman Brothers. The problem, as I was discussing before is that we don't have a system, we don't have a structure. All these problems that she was alluding to occurred before even the Congress passed this TARP legislation that created the $700 billion to support failing companies. So we didn't have any tools. In the case of Bear Stearns and in the case of AIG, by using the Fed's lending authority and other devices we jerry-rigged up a way of preventing the failure of those firms. In the case of Lehman Brothers, there was just a huge $40, $50 billion hole that we had no way to fill and no money, no authorization, no way to do it, so we had to let it fail. We had no choice. So I don't regret - I regret that it happened because it created a huge amount of difficulty. And in fact, it just confirms what I've been saying - that if you allow a big financial firm to collapse in the middle of a financial crisis, the consequences for the average person, for the global economy, are severe. What Ms. Schwartz wanted us to do was to state in advance what our strategy was for saving firms. We had no idea which firm was going to fail and we didn't have a system, we didn't have a structure. And what I'm saying is going forward we need to have what we now have for banks, but don't have for other kinds of financial firms. We need to have a law, a set of laws, that allows the government to come in and systematically and in a transparent way wind down a failing financial behemoth, to use the word that was used before, so that it doesn't create damage throughout the system. So her premise is that we made a conscious decision to let Lehman fail. We did not. We made - we spent the entire weekend with - basically 24 hours a day, trying to do everything we could to save that company, not again because we thought it was deserving, but because we knew what the implications were going to be. We didn't have the tools to do it. The other companies that were thinking about buying it decided not to buy it, and so we had no choice. JIM LEHRER: All right. Let's move on now to the recovery. And the first question to James Thomas. To the recovery itself now. To the present. JAMES THOMAS: James Thomas, recent economic graduate from UMKC. With the first phase of the stimulus bill in effect now - in my opinion, failed - what do you think worked and didn't work? BEN BERNANKE: Well, I would say that it might be a little bit early to make that judgment. First of all, let me say one other thing, which is the stimulus package is the administration and Congress. The Federal Reserve's got nothing to do with it. I mean that's - you know, it's a different part of the government. But having said that, I think we have to wait a bit longer. The stimulus package is a big $787 billion package, but something like a quarter of that is getting spent this year and not even all of that is actually going into the system this year. So most of the money that's in that package is in 2010. So it may or may not succeed, but I think we've got to give it a bit more time. JIM LEHRER: Bob Litan, you have a similar question, a follow-up question on that, I think. BOB LITAN: Well, I guess I do. I'm Bob Litan from the Kauffman Foundation. It's widely known among economists that the employment situation lags the general economy, that you really need the economy to grow at something like 2.5 percent a year in order to absorb the new workers and also to absorb productivity. So that means unemployment's going to continue rising even as the economy starts to recover. Can you give us any idea of when unemployment's going to peak out and then at what level? BEN BERNANKE: Well, nobody really knows for sure, of course. Economic forecasting makes weather forecasting look like physics. But you're absolutely right. It takes about 2.5 percent growth to absorb new workers, keep the unemployment rate about constant. Right now we're seeing growth in the second half of the year, but our best guess, and it's only a guess, is that growth in the second half of the year will be about 1 percent on an annual basis. So that's not enough to bring down the unemployment rate. So our projections - the Federal Reserve - the members of the Federal Open Market Committee, which is the committee that sets monetary policy, puts out forecasts or projections four times a year which are publicly available, and our projections suggest that the unemployment rate will probably keep rising, probably a bit above 10 percent, it'll peak early in 2010, and then begin gradually to come down. We could be wrong. It could be a stronger recovery than that. But you're absolutely right, that even after the economy starts to grow again, and we're hoping to see that in the next third and fourth quarters, it'll be a while before the labor market, the job market, is back to where we want it to be. JIM LEHRER: Sue Drakeford has a question that's also related to that. SUE DRAKEFORD: Hello. My name is Sue Drakeford. I'm a banker at Hillcrest Bank and a board member with the Asian American Chamber of Commerce. When is this going to end? That's my question. BEN BERNANKE: That's a great question also. Well, there's a healing process that has to take place. We've made a lot of progress. As I said, last September and October we were in the middle of the worst financial crisis at least since the Great Depression. We've seen a good bit of progress in the financial markets. Banks have largely stabilized. The stock market, you know, is up a good bit in the last few months. Credit markets are beginning to open up again. So we're seeing progress in the financial markets, which is very encouraging and suggests that we are going to start seeing some growth in the economy. We're going to expect to see growth in the economy in the second part of this year, then beginning to pick up in 2010, but as the previous questioner indicated, it probably will be longer than that before unemployment comes down to a level that we find acceptable. So the Federal Reserve has been - I'll be very clear. The Federal Reserve has been putting the pedal to the metal. We have the interest rate as low as it can go. We are putting everything we can into strengthening credit markets. We are buying up mortgage securities to bring mortgage rates down and get people into houses. So we're doing everything we can to support the economy, and we hope that that's going to, you know, get us going next year sometime. Now, I want to say one other thing, which is that recessions happen. They typically last one to two years. They're unpleasant. Financial crises can make them worse, and that's what we're seeing today. But I have tremendous confidence in this economy and in the American people. I think Americans are very hardworking. They're innovated and creative and they're very ambitious. And we have a market system that under normal circumstances rewards those valuable traits. On top of all of that, one of the small silver linings of all this is that people are starting to save more because they've seen what happened to their 401(k)s and to their credit positions. So I have a lot of confidence that within, you know, a few years, that we will be not only back on track, but that we will be growing strongly again. I think this economy cannot be kept down. We will try to get through this process. It's going to take some patience. But I think in the longer term this economy will go back to what it has been, which is the most successful economy in the world. JIM LEHRER: You have a follow-up to that, to what the chairman just said? SUE DRAKEFORD: I do. Actually, in specific terms of TARP. A couple of banks, you know, have received TARP. And I want to know from you, how effective do you feel like the TARP program was and is there future plans to bring another similar program like TARP? BEN BERNANKE: So the TARP stands for the Troubled Asset Relief Program. This was the $700 billion that the Congress approved for financial stabilization last October. It has been used for a whole bunch of different things. It was used initially to help stabilize the system, and that was critical, and it did help there. And it prevented some of the failures that we couldn't prevent before the TARP became available. It's also been used to give capital to healthy banks. And the evidence there I think is that it has helped them make more loans. The inspector general for the TARP has put out a report, which says that 80 percent of the banks who got the TARP money have used it to make more loans in communities around the country. So I hope that's helping, although obviously we still have a very tight credit situation. But the TARP is now being used for a whole bunch of other things, and these things are really outside the scope of the Federal Reserve. It's been used in the automobile rescue, the GM and Chrysler rescue. It's been used in some foreclosure mitigation programs which are valuable programs that are obviously different from banks. So a lot of the $700 billion is going to other purposes. And I would finally say that a number of banks have paid back the TARP. And remember, the TARP was supposed to be an investment. And just recently, ten large banks repaid the taxpayer $70 billion with dividends and interest so that, you know, the money came back. And not all the money will come back, but a lot of it will come back and, you know, I think that will be a good thing. I don't expect to see another TARP program because, again, at this point the money is not being used primarily for financial stabilization but for a variety of other purposes. JIM LEHRER: Amar Singh, you have a question about inflation, which of course is related to the recovery that's going on now. AMAR SINGH: Yes. I'm Amar Singh and I'm a small IT company specializing in business intelligence. My question relates to the market policy in terms of the mounting national debt, how you're going to protect the U.S. dollar against other major currencies so that depreciating dollar does not cause the inflation just when you need to keep the interest rate low. BEN BERNANKE: So the question is about debt and about the dollar, monetary policy? AMAR SINGH: The national - mounting national debt will probably cause the U.S. dollar to become weaker versus other major currencies. So what are you going to do to protect the dollar so that all of a sudden all the imports we consume don't become too expensive - the inflation? BEN BERNANKE: So different parts of the government have different responsibilities here. The federal debt, as I'm sure you know, the deficit this year is almost $2 trillion, the largest deficit probably since World War II. Next year it'll still be over a trillion. So these are enormous deficits that are adding to the national debt. Of course this is a responsibility of the administration and Congress, not - the Federal Reserve has nothing to do with the federal debt. But I think that, you know, as we look at that, we see - I think it's important to say that even though I don't think we could have avoided having a big deficit this year or next year given the weakness of the economy, given the financial problems and so on, it is very, very important for the Congress and administration to develop a plan and say here is how we're going to get back to fiscal sanity. Here is how we're going to bring down the deficit over time so that it gets to a low enough level that debt no longer keeps mushrooming the way it has been. So that part is the responsibility of the Congress and the administration. A very important part of that, by the way, is healthcare because a big part of the government spending is healthcare related. So that's very important. As far as the Fed and the dollar is concerned, the Fed supports the Treasury's strong dollar policy. We think the dollar should be strong. And the way we think - the best way we think to get a strong dollar is to have a strong economy. When the economy is strong, then there's a lot of good investment opportunities. Foreigners want to invest here, and that causes the dollar to rise. So our whole strategy right now is to get the economy out of the doldrums and back into a growth path that will attract foreign funds and will get the dollar and keep it strong. So that's our strategy, a strong economy for a strong dollar. JIM LEHRER: Barbara Stillman, you also have an inflation question. BARBARA STILLMAN: I'm Barbara Stillman and I've been retired for a number of years. I wonder what indicators you are considering in determining whether inflation is going to become a concern. BEN BERNANKE: We look at - the question is how do we tell what inflation's going to do. Well, first of all, we look at a lot of indicators. We look at commodity prices and - including energy prices, for example. We also look at the amount of slack in the economy. Right now with 9.5 percent unemployment and with markets as weak as they are, that is, the product markets, it's very hard for firms to raise their prices and for workers to raise their - ask for higher wages. And in fact, we're seeing prices and wages being very, very moderate. So our anticipation is that given the softness of the global economy, that except possibly for some fluctuations in energy prices, we expect for the next couple of years that inflation will be quite low. Now, coming out of this episode, as I've mentioned, the Federal Reserve has brought interest rates down close to zero. We have put a lot of money into the economy through our lending program. So we've had a lot of stimulus, which we're trying to use to make the economy grow. Once the economy starts to grow and begins to move ahead, then it will be very important for the Fed to unwind, raise interest rates, bring that credit back, bring the money back, so that we don't have an inflation problem down the road. We are very confident that we have all the tools we need to take those steps at the appropriate time so that we don't make the mistake of having inflation ultimately. But just like in the film, it's like between Scylla and Charybdis you've got to navigate between inflation, deflation, recession and too rapid expansion. And, you know, we have our tools. We're going to be watching very carefully to try to make sure that inflation stays low. JIM LEHRER: Now, Jared Campbell, you heard what the chairman said about the stimulus connection. But you have a concern about the stimulus. You have a question for the chairman about that. JARED CAMPBELL: I do. Good evening. My name is Jared Campbell. I was laid off at the end of last year. I'm happy to report that I've started working full-time last month. In regards to the stimulus, my question is: Has enough money been released this year for the impact to be what it needs to be to get the economy started again? BEN BERNANKE: Well, first, I'm glad you found work again. That's good to know. The Congress and administration, again, who put together the stimulus package, made a number of decisions which had to do with how quickly the money was going to get out versus other criteria. So for example, there's - there were a number of tax-rebate elements in that bill, and that money goes out really quickly and then people spend it over a few quarters, so that was pretty quick. But there were other parts of the stimulus, infrastructure construction, for example, building highways, that kind of thing takes longer and so if you're going to have that in your program it takes longer to get out into the economy. So Congress and the administration made the decision that they wanted to have a mixture of different kinds of elements in their stimulus program. They wanted to have some things like infrastructure that they knew were going to take some time to get out. And so the outcome and again, this was the decision that Congress made the outcome was a situation where about a quarter of all the stimulus goes out this year and about a half goes out next year. Now, given that the unemployment rate is still likely to be reasonably high next year, unfortunately, I think having that stimulus next year will actually be helpful and will create some more jobs. So those were the decisions that Congress made. We'll have to see how effective that program is. Consequences of foreclosures JIM LEHRER: Jack Craft has a question about foreclosures. JACK CRAFT: Given the significance of how - JIM LEHRER: Name and - JACK CRAFT: I'm Jack Craft. I'm a practicing lawyer in Kansas City. Given the significance of the housing crisis, is there any way for the Fed to involve itself in incentives for either the homeowners or the servicers of mortgage to prevent a deterioration of prices merely because of the foreclosures themselves? BEN BERNANKE: Foreclosures are a very big issue. We've put a lot of attention on that issue. Foreclosures are bad not only for the borrower, for the homeowner, but they're also bad for the community: When you have a lot of foreclosures in a neighborhood that brings down property values for others. It brings down tax collections for the town. As you pointed out in your question, lots of foreclosures, putting a lot of empty houses on the market, is also bringing down house prices, which is again hurting homeowners across the country. So there are a lot of bad effects of foreclosures over and above the problems that borrowers have. Now, at this point there are a number of different approaches to dealing with foreclosures and their consequences. The government -- not the Fed specifically -- but the administration and the Congress now have two anti-foreclosure programs. One is called Making Homes Affordable, which gives subsidies to servicers -- reduced interest rates -- to let them help people stay in their homes. The other one's called Help for Homeowners - or Hope for Homeowners, and that - what that does is bring down the principal balance on mortgages so that people aren't underwater having a principal balance that's greater than the value of their house. The Federal Reserve was very involved in developing those programs, and we have -- our economists helped to develop them. And in addition, we are encouraging very strongly the banks that we supervise to ramp up their staffs so they can take advantage of those programs and help reduce foreclosures. I would say also that the Kansas City Federal Reserve bank and the whole Federal Reserve System is very much involved in community activities, community work. The Federal Reserve Banks are working closely with NeighborWorks, which is a nonprofit, to help preserve communities and neighborhoods and stabilize them even though there may be a lot of foreclosures. So how do you do that, prevent the foreclosures from causing a lot of problems in a neighborhood or in a city. So we address things in a lot of different ways. Unfortunately, the foreclosure problem is still very large. We expect about 2.8 million Americans to receive foreclosure notices this year. We hope less next year. But it's one of the key things to getting the housing market to stabilize and getting our economy back on track. JIM LEHRER: Jason Wood has a related question. JASON WOOD: Thank you, Mr. Chairman. Jason Wood. I work with United Way around our two-in-one system in getting homeowners to access housing counselors. I guess my question is more in light of the report from the Federal Reserve Bank in Boston in regards to some of the monies that have been released to help homeowners and more importantly, the money that's been given to servicers. The report stated that the money maybe would have been better used if it had been given to the actual homeowners rather than the servicers. I'd like to get your commentary and what your thoughts are in regards to that. BEN BERNANKE: Yes. First let me say that I'm glad to see you're doing counseling work. We found that having a counselor helps the borrower work with the bank, raises the probability of success quite considerably, so keep up the good work. The report you're referring to was a research paper done by some Federal Reserve economists. It doesn't represent an official position of the Federal Reserve. It's just a research paper. But it addresses the fact that we don't have much experience with dealing with a foreclosure wave like this, and we don't really know necessarily what the best way is to address it. And their proposal is, instead of trying to restructure the mortgage, instead help the homeowner for the short period of time that he or she needs help: if you've lost your job, if you're sick. Maybe you just need help for a few months and then maybe that you could go back to paying your regular mortgage. So that's the proposal they made. That's not the approach the government has taken. The government has taken, as I just described, a restructuring approach, bringing down the payment or bringing down the principal. We're just going to have to see which ones of these programs work and what kinds of modifications we have to make going forward. JIM LEHRER: Speaking of going forward, you've already touched on a lot of this already, some of the things that are in the works or are being debated about how we move from here to there, some reorganization, new legislation, et cetera. And let's start first with Elma Warrick because it relates exactly to what we've been just talking about in terms of foreclosures and housing. ELMA WARRICK: Good afternoon, Chairman Bernanke. I'm Elma Warrick. I'm the executive director for Home for USA, which is a housing counseling organization HUD-approved. You know, I've heard your responses and I think they're wonderfully clear and lucid. But my question has to do with how do we, having been through this in the midst of this perfect storm, how do we protect the consumers going forward? Because frankly, the heart of the mission of the Federal Reserve was to protect the consumer. And we find, unfortunately, in this foreclosure tsunami that the consumer has become the predator rather than the fact that they were preyed on. So what will we do going forward, Chairman, to protect the consumer and make sure the consumer is served as they ought to be? BEN BERNANKE: Good question. As I mentioned earlier, the Federal Reserve's -- one of the Federal Reserve's functions is consumer protection. And we have addressed a number of issues in mortgage area, credit card areas, a bunch of other areas. As I've said before, we were late in addressing the subprime lending problem. There were a lot of loans made that were done without documentation, for example, that were done without clarity about prepayment penalties, that were done without clarity about escrow accounts. The Federal Reserve a few years ago addressed those issues and we put together a set of rules which now apply to all lenders, not just banks but all lenders, that will, I hope, solve those problems going forward. But they weren't in place early enough, and that is a -- I think we have to take some heat for that, and I think that's appropriate. But going forward, we have set some rules. The administration, of course, as you may know, has yet a more ambitious plan. They want to create a separate consumer financial protection agency that will have its only mission protecting consumers. So whether the Federal Reserve does it or another agency does it, I hope that we'll learn some lessons from this episode and make sure the consumers can make good choices but that the choices they have are clear, transparent, so that they can shop and not be fooled or deceived in terms of the kinds of financial products that they use. ELMA WARRRICK: Thank you. JIM LEHRER: Erica Shackelford has a related question. ERICA SHACKELFORD: Good afternoon, Mr. Chairman. Erica Shackelford. I'm affiliated with the Urban League of Greater Kansas City and I'm also a full-time student. Thinking about the mortgage crisis, predatory lenders allowed people to get themselves into loans that they could not afford. What does the Federal Reserve plan to do to educate the public in the future so that this type of crisis does not reoccur? And also, would you support a mandatory education component as part of the mortgage-lending process? BEN BERNANKE: Well, you know, first, as I mentioned, we have done the regulations, but we also are very much in favor of financial education, financial literacy. The Federal Reserve, including the Kansas City Federal Reserve, have numerous financial literacy programs. We provide - on our Web sites we provide courses. We work with all kinds of groups that provide financial training. I think it's very, very important that people have that kind of experience now because everybody has to deal with complicated financial products in their everyday life. So I'd like to see more financial-literacy courses in schools. Our experience is -- and we have a number of people here who are counselors -- our experience is that the most effective time to teach people about financial products is when they're thinking about buying. If you're thinking about buying a house, that's the time people listen real carefully when you explain mortgages to them. In high school, we see less-effective results. But financial literacy, economic education, it's a big mission of the Federal Reserve. You mentioned predatory lending. We've also gotten to public education. We put out, for example, a public service announcement that's playing in movie houses. I don't know if you saw it or not. But there are a lot of scams out there now. There are people who are taking advantage of people who are afraid of losing their homes. And it's very important that if you are afraid of losing your home, if you have gotten a foreclosure notice and you're working with a bank, it's very careful - it's very important to be sure that if you have been approached by some counselor or someone who says they're going to help you to make sure they're legitimate because there are scams out there, and we have been working on those and trying to keep people alert to those. JIM LEHRER: But you used the word mandatory. You asked the chairman whether it should be mandatory to be counseled in a financial - in a homing - home owning - home buying situation, correct? ERICA SHACKELFORD: That's correct. The question was, would you support mandatory education - a mandatory education component as a part of the mortgage lending process going forward? BEN BERNANKE: I'd be open to that. I think a lot of people could use that. JIM LEHRER: In other words, somebody would sign something that they have to know - BEN BERNANKE: That they've had some - JIM LEHRER: - they had to know the rules - BEN BERNANKE: Yeah. JIM LEHRER: - before they - BEN BERNANKE: Yeah. That's not a Federal Reserve-specific issue in the sense of our authority, but I think it's worth looking at. ERICA SHACKELFORD: Thank you, Mr. Chairman. JIM LEHRER: Rob Givens, you have a question on the consumer-protection issue that has come into public - ROB GIVENS: Thank you, Mr. Chairman. Rob Givens, president of Mazuma Credit Union here in - locally. A lot of financial institutions have been under compliance and regulatory control for a long time. There's some concern that creating a new federal agency separating some of those responsibilities and then adding perhaps some additional responsibilities from the Fed for consumer regulation would in fact put an additional burden on small institutions which would then cause them to fail and leave more too-big-to-fail people out there. What's your sense of how that - that new agency and where it's funded and - I mean there's a lot of issues with that, and how that plays with the Fed's responsibility. BEN BERNANKE: Right. So this is the proposal by the administration to create a consumer financial-protection agency. And, you know, I can understand the motivation for creating such an agency. It would be an agency that would be focused on consumer issues. But there are some drawbacks, and you mentioned one, which is that if the consumer protection agency has its own examination force, its own going out - examiners going out to banks and then the banks will have to see both the safety and soundness examiners from the Fed or from the office of the comptroller of the currency as well as the consumer-protection agency's examiner. So there would be a duplication of effort to some extent. And some of the knowledge and information that one group gathers would not necessarily go to the other group. Another possibility which has been discussed would be to leave the examination authorities with the banking agencies themselves where they are now, and just move the rule-writing authority to the consumer-protection agency, which is another possibility. That also has some issues, because then the rule-writers would not be together with the examiners. They wouldn't get the feedback, they wouldn't get the knowledge that the examiners get every day on the ground, in banks. So it's a tough issue, and I know Congress is going to be wrestling this for some time. JIM LEHRER: But you're opposed to it, right? BEN BERNANKE: I'm neither opposed to it or in favor of it. I just want to make the point - I think there's an important point to be made, which is I acknowledge that the Fed was late on subprime lending regulations. I acknowledge that. But for the last two-and-a-half, three years, the Fed has been very, very active in mortgage areas, in credit cards, in student loans, in all kinds of areas, and we've been very effective. And so I'm just saying that we've done a good job and we're an alternative if this agency doesn't work out. But again, I understand why people would say you need an agency that's focused on this area. JIM LEHRER: I've got an online question from Robert Dietrich in Towson, Md. "What do you see is the most significant current or potential threat to the Federal Reserve's independence?" BEN BERNANKE: Well, again, the independence of the Fed is extraordinarily important. If the Congress or the administration were to begin to interfere with our monetary policy decisions, then the markets would say, "Wait a minute, if there's going to be more inflation because of political reasons, more inflation because the government wants to the Fed to spend money in order to pay for the deficit." So it's incredibly important that the Fed maintain its independence. I think we will. I think we need just to be very vigilant and make sure that there isn't any bill or any other effort made by anyone to take away that independence. And we're going to do our best to maintain it because it is so critical for the stability of our economy. JIM LEHRER: As you know, there's an effort in Congress now, in the House in particular, to audit what the Federal Reserve does, particularly a monetary policy. How do you feel about that? BEN BERNANKE: So that bill - people don't fully understand what that bill is about. It sounds like audit the Fed, it sounds like let's look at the books. It's not what it sounds like. The Congress already looks at our books. We have many different layers of auditors. The GAO, the General Accountability Office, which is supposed to be doing this audit, already looks at virtually all of our activities, and the ones it doesn't - our financial books and our financial loans and so on, and the ones it's not looking at and where the taxpayer needs some assurance is we're willing to work with Congress to make sure that the GAO gets the information it needs. What people don't understand is that this bill would give the GAO the authority to audit monetary policy. And what does that mean? That means that if the Federal Reserve decided a year from now that because of incipient inflation it was time to raise interest rates, that the Congress would say, "Oh, the GAO's going to audit that decision. It's going to subpoena your materials. It's going to demand information from the members of the FOMC. It's going to evaluate your decision and report to Congress." I don't think that's consistent with independence. So we are completely open to providing any information that Congress wants to make sure we're using taxpayer money safely and soundly, that we are meeting all our responsibilities. I don't think the American people want Congress running monetary policy, and I think that's very, very critical for people to understand. JIM LEHRER: And do you think that's what -- would end up doing? BEN BERNANKE: Exactly. That's what it would do. There's a provision in that law which currently, current law, which carves out monetary policy, and it doesn't give Congress authority or GAO authority to audit it. That was put in in 1978, at a time when we had a lot of inflation, as you may remember. After that, the Fed became more independent, brought inflation down. But now that's exactly what it would do. If that carve-out is eliminated, the Congress would have the authority anytime to ask the GAO to come in and audit and look at and evaluate the monetary policy decisions made by the Fed. That's not consistent with independence. Lessons of the Great Depression JIM LEHRER: Crosby Kemper has a question about regulating. CROSBY KEMPER: Crosby Kemper, Mr. Chairman. I've also been a banker in Kansas City and now I'm a librarian. As a banker, I can tell you that the two banks who are represented here, my cousin and I, are two of the solvent banks left in the country. So welcome to Kansas City. You can relax. (Laughter.) And - but I'm also a librarian today. I'm the director of the Kansas City Public Library and an amateur historian. And I've read your book, "Essays on the Great Depression." Wonderful book. And you talk about two causes of the Great Depression. One is the failure to the Federal Reserve to provide an adequate monetary policy. It tightened too much during the days after the stock market crash. And you talked about the non-monetary problems, part of which was the failure, despite great liquidity of the banking system, to respond to the problems of production and unemployment. And I wonder if there isn't a similar problem going on today in regulation where you're going exactly the other direction, with too much monetary policy; I mean, too much money creation in your monetary policy, in an attempt to intervene to control prices through the mortgage programs and other things, if we aren't getting to the stage on the opposite end of too much regulation, too much government intervention, just at the moment when it looks like the economy may be turning around bottoming out. BEN BERNANKE: Well, thank you for reading my book. (Laughter.) I'd be glad to autograph it if you have it with you. (Laughter.) I learned -- I did spend a lot of my career studying the Great Depression and other financial crises. And I didn't expect it would be so helpful, so useful, as it has been. But I learned three lessons from my work on the Great Depression, and you identified two of them. The first one was monetary policy has to be supportive, not restrictive. In the 1930s, the Federal Reserve allowed the money supply to collapse, allowed prices to fall, and that was a major force -- a major factor in the Depression. So this time the Fed was aggressive in cutting interest rates, providing supportive monetary policy, and getting, you know, that part going. The second thing I learned from looking at the Depression was, as I mentioned before, that allowing the financial system to collapse -- and we had several thousand bank failures here in the United States in the 1930s which the Fed could have stopped, or at least most of them. Letting the financial system collapse is also a very, very bad thing to do, and it contributed very considerably to the collapse in the credit markets and, again, to the Great Depression. And for that reason I have taken the approach that we want to make sure that the financial markets are as stabilized as possible, that we don't have a financial collapse because we know what the consequences of that can be for the broad economy. But the third thing I learned was this - that the Federal Reserve in the 1930s was completely orthodox. It did things today we think are wrong, but it was doing it based on what at the time were the standard policies, the standard approaches. They didn't use anything unusual. And I think what I learned from that is that when you're in a situation like this, a perfect storm, sometimes you've got to do something a little bit outside the box, a little bit more aggressive. And so when the Federal Reserve got interest rates down to zero, we couldn't cut it anymore and so we had tried to address a lot of the other problems, like fixing the credit markets in the ways that you described. Now, your point is absolutely right, and someone else mentioned this before. We can't do that forever. Eventually the credit markets have got to go back completely into private hands, the private sector needs to be allocating credit. We are trying to support the markets now, in a period when I think the economy still needs help and when I don't think inflation is a near-term problem. But you're absolutely right that as the economy begins to show strength, then we're going to have to gradually unwind, pull out those special programs, and let the economy do what it's supposed to do, which is allocate credit to the best uses. JIM LEHRER: And, Manuel Abarca, you have a question? MANUEL ABARCA: My name is Manny Abarca and I'm a current student in the University of Central Missouri. My question is, as a student and future professional, what would you recommend to my generation to handle this current situation, financial crisis, and prevent future crises from happening? BEN BERNANKE: Well, I've some kids out of college and we've had some discussions about this. I think this affects you both on a personal basis and on a broad national-policy basis. Personally, I just want to say that we recognize that there are a lot of people graduating from college or graduate school right now and see a very tough job market right now, and we know that, and it's not your fault. And it's part of the reason that we're so aggressive trying to get this economy moving again. But I would urge you in looking for jobs to not give up, because the way the job market works is -- job markets just don't - jobs just don't disappear. What happens is that some jobs are created and others disappear. So, for example, right here in Kansas City, there've been some pretty significant layoffs, but then also in the last year there's been some pretty big hires as well - not enough to offset the layoffs, but still some hires. So the labor market is always churning. There's new jobs being created, other jobs being destroyed. You need to look. You need to see what you can find. And when you look, you need to be flexible and you need to say, maybe this isn't my ideal, long-term job, but it's a job that I can learn something from, I can get some work experience, and when this economy improves, which it will, then I'll have the background and the experience I need to get the job I really wanted. So let me just give you that bit of encouragement. On keeping this from happening again, you know, we've had financial crises since the 1300 and 1400s. They happen all the time. This is a particularly bad one. So I don't think we're ever going to completely eliminate financial crises, but there's a lot we can do to make sure that one this severe and this damaging doesn't occur again in the United States. And there I haven't had much chance to talk about it, but the Federal Reserve and the administration have made proposals about how to change our financial-regulatory system. And let me just mention two parts of it. One part is we need to have a more system-wide approach. Instead of just looking at a silo at each individual institution, each individual market, we need to have a council or a group of regulators that looks at the financial system as a whole and looks for gaps and problems that can cause trouble. So that's one important element. The other important element -- and let me just reiterate this again -- too big to fail has got to go, and to get rid of too big to fail, we need a way to let big companies fail safely. And to do that, we need a new kind of bankruptcy process that's similar to what the FDIC already has for banks that will allow the government to come in and to take a failing company and to unwind it, sell it off, let it fail, but do it in a way that doesn't bring the whole financial system down. And so those two things I think would be a tremendous help in both stopping future financial crises, but if one occurs making sure it doesn't have as negative and adverse effect on the economy as this one has. JIM LEHRER: Peter Cabell has a question about the stock market. PETER CABELL: Chairman Bernanke, my name is Pete Cabell and, as was mentioned, my question is about investing. JIM LEHRER: Give us a line about you, sir. PETER CABELL: A line about me? I'm currently working at a nonprofit. Over the last 10, 11, 12 years, the market has - U.S. market, stock market has not delivered a sustained positive return. As we all get closer to retirement, that's a big problem. Despite the decade-long -- bounce off a decade-long low, the market still has a lot further to go to make portfolios whole. So as we go forward, is there a good engine to invest in as an alternative to the stock market that would be reasonable to look at? BEN BERNANKE: So I can't practice financial advising without a license over here. (Laughter.) I think the answer to your question, and it would depend very much on your individual circumstances -- you're a young man, you're not about to retire -- is diversification. The stock market is very volatile. It's risky and we've seen how it's gone up and down twice now in the last 10 years, but over long periods of time it tends to do somewhat better than bonds, for example. And so generally speaking unless you're very close to retirement you probably ought to have some stocks and equities in your portfolio, but you can diversify through a whole range of different things, including bonds or CDs, including even perhaps commodities and other types of investments. So I guess I'd give you two pieces of advice. One is to diversify your investments that you have a lot of different things so that if one thing goes up maybe something else, you know, will go down and just balance out. The other thing I would suggest to you is don't try to time the market. You can't. You know, people - it's very, very difficult to do it and there may be a couple people in the world who can do it, but if they are, they're not telling you. So pick an allocation of assets and stick with it. And over a long period of time, as long as the economy is healthy -- and that's the key thing -- as long as the economy is growing, which I believe it will, I believe we have a very good long term future here in this country - then that asset mix will do OK. So that's about as far as I can go, otherwise I think I would get malpractice suits going on. (Laughter.) JIM LEHRER: A question for Alicia Falcone - from Alicia Falcone. ALICIA FALCONE: Mr. Bernanke, I am a marketing consultant here in Kansas City and my question for you is, you've had a chance to oversee the Fed during a historic time in our country's history. What keeps you up at night relative to being the Fed chairman and looking at our economy over the near- and medium-term? BEN BERNANKE: Well, first, let me say that the Fed Reserve does not equal the chairman. One of the things I wanted to do when I became chairman was to try to sort of depersonalize the Federal Reserve at some extent. The Federal Reserve is an outstanding organization. We have terrific staff, terrific presidents around the country, Reserve banks and governors, so it's not all on my shoulders. I know there's a lot of people there who are watching 24/7. We have people who worked 100 hour a week through the financial crisis, for week after week so it's not just me. You know, there's plenty of people there who are doing good work and I can sleep at night knowing that they're on the job. More generally, I worry about the same stuff that you would think I worry about. I worry about the economy and the financial markets. I worry about how we're going to deal with these credit issues, but I try to do it during the daytime because if I do it at night, I might not be thinking so straight during the day. So that's kind of where I am. JIM LEHRER: But there's no overriding concern that you have right now that of all the things you've done, you and your colleagues and the financial - Congress, the administration whatever, there's no overriding concern that you have every day or right now? BEN BERNANKE: Well, I continue to look at the financial markets. I think they've improved quite noticeably. JIM LEHRER: Is that a criterion for testing? BEN BERNANKE: That's a very important one, the financial markets, because after all this has been a financial crisis, it was the financial crisis that caused the global recession. I follow the economy extremely closely. JIM LEHRER: How do you follow it? What are the measurements? BEN BERNANKE: I get reports and data and survey materials and everything all through the day. My inbox is always full. JIM LEHRER: Like on what is - like what? Like on housing, on - BEN BERNANKE: On housing, on the job market, on industrial production, on what's happening in the financial market. One thing is people sometimes ask me, do you have like a single indicator or a single variable? The answer is no, because it's a big, complicated economy and it's kind of like the elephant in the Indian folktale where everybody sees a different part of it. In order to get - JIM LEHRER: I'm not sure I heard that. I don't know about it. BEN BERNANKE: Yes. It was an elephant and you had six blind people feeling the elephant. And one feels the tail and says, an elephant is like a rope. And another feels the trunk and says, it's like a tree, and so on and so on. And the only person who can see the whole elephant, obviously, is somebody who has been all around and looked at all the different parts of the elephant. So we've got an elephant of an economy. It's got lots of different parts. You've got to look at everything. There's not a single one variable or another that is critical, there are a lot that are very interesting and we pay a lot of attention for example, to unemployment insurance claims, which is a weekly indicator what the legal market is doing. Lot of other variables, but generally speaking, we them all together and try to get sort of a holistic picture out of all the data and information that we get, including information that comes from the Federal Reserve banks, because each of the Federal Reserve banks has got a board and advisory councils and the president of the Federal Reserve banks, when they come to Washington for federal open market committee monetary policy meetings, they bring anecdotes, information about what people are seeing, kind of like this meeting here. And that's very helpful because the data we get is backward looking. We're going to get data this week on the second quarter GDP. Well, the second quarter is over already. If we want to know what's going to happen in the third quarter and the fourth quarter, it helps to know what business people are saying, what bankers are saying and we get that information from all our Reserve banks around the country and so not just numbers, but also anecdotes, personal information can be very helpful in forecasting the economy. JIM LEHRER: So to answer Ms. Falcone's question then, once you put all that together on this particular Sunday night, you're going to sleep well? BEN BERNANKE: I'm pretty tired. (Laughter.) JIM LEHRER: Thank you very much, Mr. Chairman. BEN BERNANKE: Thank you. JIM LEHRER: It was a pleasure. I want to thank all of you in the audience, all of you who participated with questions and all of you who participated as the audience. I want to thank our online viewers. We didn't get to too many of them, but we got to a few. And I also want to thank our local television host, public station KCPT, and then the Kansas City Consensus organization that helped select the folks who are here. And I also definitely want to thank the folks here at the Federal Reserve Bank of Kansas City. And that ends it. And from Kansas City, Mo., I'm Jim Lehrer. Thank you and good night.

[Late Show with David Letterman : Senator John McCain Announces Candidacy] [NEW YORK, NY USA] Late Show with David Letterman: Senator John McCain Announces he will announce his Candidacy for President of the United States in April. 00:00:12 McCain says he will announce his campaign for President in April 2007 / Campaign 2008. 23:35:21 ( BAND PLAYING "LATE SHOW" THEME ) 23:35:25 >> FROM NEW YORK, THE GREATEST CITY IN THE WORLD, 23:35:26 IT'S THE "LATE SHOW" WITH DAVID LETTERMAN. 23:35:30 TOGHT... PLUS PAUL SHAFFER AND THE 23:35:41 CBS ORCHESTRA. AND NOW, WEEPY FLORIDA JUDGE 23:35:53 DAVID LETTERMAN. ( CHEERS AND APPLAUSE ) 23:36:05 ( CHEERS AND APPLAUSE ) ( BAND PLAYING 23:36:06 "LATE SHOW" THEME ) >> Dave: THANK Y VERY MUCH. 23:36:23 ( CHEERS AND APPLAUSE ) HOW NY OF YOU FOLKS WERE 23:36:33 AFFECTED BY THE BIG STOCK MARKET PLUNGE YESTERDAY? 23:36:37 400 POINT, THE STOCK MARKET DROPPED 400 POINTS YESTERDAY. 23:36:40 BIG CORPORATIONS WERE REALLY REALLY AFFECTED BY IT. 23:36:42 AS A MATTER OF FACT, TACO BELL HAD TO LAY OFF 200 RATS. 23:36:51 AND THEN THEY FIRED THEIR CAT. THE MARKET DROPS 400 POINTS 23:36:55 AND TODAY OUT OF HABIT JET BLUE APOLOGIZED. 23:36:58 ( APPLAUSE ) I FEEL PRETTY SMUG BECAUSE I 23:37:11 DID NOT GET HURT WHEN THE MARKET PLUNGED. 23:37:13 MY ACCOUNT, BLESS HIS HEART, HAS ALL HIS MONEY IN ASTRONAUT 23:37:17 DIAPERS. ( APPLAUSE ) 23:37:26 I WAS LOOKING AT THE PAPER YESTERDAY. 23:37:28 APPARENTLY EVERYBODY ON WALL STREET YESTERDAY LOST A LOT OF 23:37:30 MONEY. EVERYBODY LOST, EXCEPT FOR 23:37:33 SOME MYSTERIOUS REASON, EVERYBODY BUT MARTHA STEWART. 23:37:50 ANY DOG OWNERS HERE? ( APAUSE ) 23:37:54 ANY DOGS? DO WE HAVE DOGS HERE TOO? 23:37:57 IN NEW JERSEY, THEY PASSED A LAW YOUR DOG CANNOT BARK FOR 23:38:00 MORE THAN HALF AN HOUR. YOUR DOG CANNOT BARKOR MORE 23:38:04 THAN HALF AN HOUR OR THEY ARREST HIM AND TAKE HIM 23:38:06 DOWNTOWN. AND I'M THINKING IF YOU REAY 23:38:09 WANT TO CUT DOWN ON IRRITATING DISTURBANCES HOW ABOUT 23:38:13 LIMITING "THE VIEW" TO HALF AN HOUR. 23:38:17 >> Paul: LOOK OUT. WATCH IT. 23:38:25 THE GUY WHO DIRECTED THE TITANIC MOVIE, THE FILM 23:38:28 DIRECTOR? LISTEN TO THIS. 23:38:29 HE CLAIMS HE'S FOUND THE TOMB OF JESUS CHRIST. 23:38:32 I JUST HOPE THIS DOESN'T LEAD TO A COURT BATTLE IN FLORIDA. 23:38:35 THAT'S ALL. I THINK THIS JAMES CAMERON, I 23:38:45 GUESS HE'S A TREMENDOUS DIRECTOR, ACADEMY AWARD 23:38:47 DIRECTOR. I WONDER IF HE MIGHT BE, I 23:38:49 DON'T KNOW, JUST DESTABILIZED. HE CLAIMS HE FOUND A CLOCK 23:38:58 THAT'S ALSO A RADIO. HAVE YOU HEARD THIS? 23:39:05 ( APPLAUSE ) HEY, IS WEDNESDAY. 23:39:07 WHAT DO YOU.... >> Paul: VERY GOOD. 23:39:13 >> Dave: JAMES CAMERON THINKS HE FOUND THE TOMB OF JESUS 23:39:16 CHRIST. WHO WOULD HAVE GUESSED THEY 23:39:19 FOUND JESUS BEFORE BIN LADEN? YOU KNOW WHAT I MEAN? 23:39:22 WHAT? ( APPLAUSE ) 23:39:24 LADIES AND GENTLEMEN, PAUL SHAFFER. 23:39:26 THANK YOU VERY MUCH. 23:39:43 PAUL SHAFFER, LADIES AND GENTLEMEN. 23:39:51 HERE TONIGHT WE HAVE SENATOR JOHN McCAIN FROM ARIZONA IS ON 23:39:53 THE PROGRAM THIS EVENING. ( APPLAUSE ) 23:40:02 PEOPLE SAY THAT HE MAY BE A CANDIDATE FOR PRESIDENT AND 23:40:04 MAY NOT BE A CANDIDATE FOR PRESIDENT. 23:40:05 EITHER WAY WE'RE LUCKY TO HAVE HIM AS A REPRESENTATIVE OF OUR 23:40:08 GREAT LAND AND A TREMENDOUS SERVICE TO OUR COUNTRY. 23:40:10 HE'LL BE HERE TONIGHT. WE'LL TRY TO SQUIRREL IT UP 23:40:14 AND SEE IF WE CAN'T GET HIM TO ADMIT HE'S GOING TO RUN FOR 23:40:17 PRESIDENT. GOING TO ADMIT FOR RUNNING... 23:40:18 ALL RIGHT, YOU GOT ME. I'M RUNNING FOR PRESIDENT. 23:40:21 I WAS TRYING TO KEEP IT A SECRET BUT YOU GOT ME. 23:40:24 >> Paul: THESE DAYS WHO WOULD ADMIT IT? 23:40:26 >> Dave: ALSO OUR FRIEND ANDY KINDLER IS ON THE PROGRAM. 23:40:31 VERY FUNNY GENTLEMAN. AND ROBIN THICKE. 23:40:40 THAT REALLY DOESN'T TELL US MUCH ABOUT THE GUY. 23:40:43 TURN IT AROUND. THERE YOU VE IT THERE. 23:40:45 >> Paul: THAT TELLS YOU A LOT OF WHAT YOU NEED TO KNOW. 23:40:50 RIGHT THERE. >> Dave: I JUST WANT TO WARN 23:40:52 TOURISTS AND ALSO LOCAL RESIDENTS AS WELL THERE'S A 23:40:54 CONSIDERABLE AMOUNT OF COUNTERFEIT MONEY IN 23:40:56 CIRCULATION. ARE YOU AWARE O THIS? 23:40:59 IT'S LIKE HALF A MILLION DOLLARS OF COUNTERFEIT MONEY 23:41:02 SO BE VERY, VERY CAREFUL BECAUSE SOMETIMES YOU GO INTO 23:41:04 A STORE AND YOU'LL MAKE A PURCHASE, YOU SEE, YOU GIVE 23:41:07 THEM YOUR MONEY AND IN RETURN YOU GET THE COUNTERFEIT MONEY. 23:41:10 YOU WON'T REALIZE THIS UNTIL YOU'RE BACK IN THE HOTEL ROOM 23:41:14 PAYING THE ESCORT LADY. HERE'S A COUPLE OF THINGS TO 23:41:33 LOOK FOR. THE ONE RIGHT THERE IT'S OUT 23:41:35 OF FOCUS. DOWN HERE SOME OF THE SHADING, 23:41:38 SEE HOW THAT KIND OF EVAPORATES? 23:41:40 ALSO THE REAL KEY IN THE MIDDLE, YEAH, IN THE MIDDLE IS 23:41:46 THAT'S NOT SUPPOSED TO BE THERE. 23:41:48 IF YOU HAVE ANY OF THESE... YOU KNOW, A LOT OF PEOPLE ARE 23:41:57 SAYING THAT FIDEL CASTRO IS MUCH BETTER. 23:41:59 REMEMBER WHEN HE WAS ILL AND EVERYBODY THOUGHT IT WAS 23:42:01 LIGHTS OUT FOR FIDEL? APPARENTLY HE'S DOING MUCH 23:42:04 MUCH BETTER. AND AS A MATTER OF FACT THE 23:42:05 PROVE TO HIS SUPPORTERS THAT HE'S DOING JUST FINE, HE 23:42:08 CALLED HUGO CHAVEZ, THE PRESIDENT OF VENEZUELA, WHO IS 23:42:11 HIS OWN SPECIAL KIND OF WHACK JOB HAS A RADIO SHOW AND TO 23:42:22 PROVE TO HIS LOYAL SUPPORTERS FIDEL CASTRO YESTERDAY CALLED 23:42:25 IN TO HUGO CHAVEZ'S RADIO SHOW. 23:42:27 WE HAVE A CLIP. HERE NOW IS FIDEL CASTRO 23:42:32 CALLING HUGO CHAVEZ. TAKE A LOOK LISTEN TO THIS. 23:42:39 >> HEY, HUGO, MY MAN IT'S FIDEL. 23:42:42 I CAN'T TALK LONG BECAUSE I HAVE TO GET A SPONGE BATH. 23:42:45 I WANT TO WISH YOU A HAPPY WHIP 'EM OUT WEDNESDAY. 23:42:53 AND PLAY MY HUMP MY HUMP, MY HUMP, MY HUMP 23:43:00 >> Dave: A LOT OF EFFORT WENT INTO THAT ANYWAY. 23:43:09 WE HAVE A BRAND NEW SEGMENT ON THIS PROGRAM. 23:43:11 THAT'S THE FIRST TIME I'VE DONE THAT. 23:43:13 IS THAT RIGHT? IT'S CALLED A MESSAGE FROM 23:43:15 FIRST LADY LAURA BUSH. A MESSAGE NOW FROM FIRST LADY 23:43:18 LAURA BUSH. TAKE A LOOK. 23:43:25 >> I UNDERSTAND HOW THE AMERICAN PEOPLE FEEL. 23:43:27 THE GEORGE IS REALLY REALLY A TERRIBLE PRESIDENT. 23:43:36 WOW. HE'S NOT RUNNING FOR 23:43:47 RE-ELECTION. I GUESS THAT'S THE KIND OF 23:43:48 THING SHE CAN SAY. BOY, IS MY FACE RED. 23:43:51 I DON'T KNOW WHY MY FACE IS RED. 23:43:53 IMMEDIATELY FOLLOWING THAT IT'S TIME FOR GREAT MOMENTS IN 23:43:55 PRESIDENTIAL SPEECHES. HERE, TAKE A LOOK AT THIS. 23:44:00 (HAIL TO THE CHIEF) >> THAT THE ONLY THING WE HAVE 23:44:04 TO FEAR IS FEAR ITSELF. >> ASK NOT WHAT YOUR COUNTRY 23:44:12 CAN DO FOR YOU. ASK WHAT YOU CAN DO FOR YOUR 23:44:15 COUNTRY. WHAT ARE YOU GOING TO DO? 23:44:37 SAY HELLO TO OUR GOOD FRIEND ANDY KINDLER. 23:44:41 COME ON OUT, ANDY. HOW HAVE YOU BEEN, MY FRIEND? 23:44:51 >> EVERYBODY IS GOOD. VERY EXCITED. 23:44:54 ALL MY STUFF IS SHOWING UP ON YOU-TUBE. 23:44:56 >> Dave: INDIVIDUAL... VIDEOTAPES HERE. 23:45:01 >> WHICH I'M SURE HAVE ALL BEEN CLEARED THROUGH LEGAL. 23:45:03 THEN ALSO LIKE PEOPLE WILL COME TO A CLUB, THIS GUY CAME 23:45:07 TO A CLUB. I GUESS HE FILMED ME AND PUT A 23:45:10 COUPLE OF MINUTES OF MY ACT. >> Dave: THAT'S GREAT. 23:45:12 >> THEN PEOPLE COMMENT ABOUT IT. 23:45:13 THEY'RE INSANE LIKE THIS ONE GUY COMMENTS GREAT QUALITY. 23:45:16 GREAT VIDEO QUALITY. LIKE I PLANNED FOR THE GUY TO 23:45:19 COME TO THE CLUB, LIKE... LET ME DO A THREE CELL PHONE 23:45:24 CAMERA SHOOT. I'VE GOT THE LIGHTS. 23:45:26 LET ME BRING IN PEOPLE I DON'T KNOW. 23:45:28 THEN SOMEONE ELSE WRITES IN, DON'T QUIT YOUR DAY JOB, THEY 23:45:31 SAY. STAND-UP IS MY DAY JOB. 23:45:35 >> Dave: WHAT ARE THEY TALKING ABOUT? 23:45:37 >> THANK YOU VERY MUCH I WANT SAY TO THAT PERSON. 23:45:39 I WILL CONTINUE DOING IT. >> Dave: DID YOU HAPPEN TO SEE 23:45:42 THE ACADEMY AWARDS. >> VERY, VERY DISAPPOINTING. 23:45:45 MY FAVORITE MOVIE OF THE YEAR GOT SHUT OUT. 23:45:48 >> Dave: WHAT WAS THAT? >> LITTLE MAN. 23:45:52 FIRST OF ALL DO YOU THINK THERE'S A MOVIE IDEA TERRIBLE 23:45:54 ENOUGH THAT EVEN THE WAYNES BROTHERS WOULDN'T TURN IT INTO 23:45:58 A MOVIE. YOUR PRINTER COULD BREAK. 23:46:00 YOU COULD SEND 150 BLANK PAGES OVER TO THEM BY MISTAKE AND 23:46:03 CALL THEM UP AND APOLOGIZE. THEY WOULD SAY WE LOVE IT. 23:46:09 A LOT OF ROOM FOR IMPROV. LITTLE MAN. 23:46:14 THERE'S A FACE PROJECTED ON A LITTLE PERSON FOR LIKE FOUR 23:46:17 HOURS LONG AND YOU SEE IT ON DVD WITH A COMMENTARY TRACK. 23:46:21 MY IDEA WOULD BE BIG BABY. THIS IS A BABY FACE THAT 23:46:24 PROJECTED ON A TALL PERSON. THE HOME MOVIE THEY WALK UP TO 23:46:29 YOU AND CAN I HELP YOU, SIR? (CRYING) TO THE RESTAURANT, 23:46:36 CAN I TAKE YOUR ORDER? (CRYING) THEN IF THAT WORKS 23:46:41 OUT. >> Dave: WHY WOULDN'T IT? 23:46:42 >> THEN I GOT MARLIN WAYNE'S FACE PROJECTED ON A DOZEN 23:46:48 EGGS. THE REFRIGEROR JUST GOT 23:46:51 FUNNY. IT'S A KITCHEN FULL OF LAUGHS 23:46:53 WHEN MARVIN WAYNE PLAYS A DOZEN HILARIOUS EGGS. 23:46:59 >> Dave: NOW, LISTEN IN THE PAST ANDY YOU'VE BEEN TO U.S. 23:47:03 MARSHAL'S TRAINING ACADEMY IN GEORGIA. 23:47:05 YOU'VE BEEN TO THE PLAYBOY CLUB IN LAS VEGAS. 23:47:07 >> THAT WAS A HARD JOB FOR ME. GET YOUR MIND OUT OF THE 23:47:13 GUTTER. >> Dave: SPACE CAMP IN 23:47:15 HUNTSVILLE ALABAMA. YOU WERE AT A RODEO IN SISTERS 23:47:18 OREGON. WENT ON UNCLAIMED BAGGAGE 23:47:20 CENTER IN ALABAMA. >> FOR MY OWN LUGGAGE. 23:47:22 >> Dave: SUPER BOWL IN FEBRUARY 2006. 23:47:24 >> REMEMBER THAT. >> Dave: TELL THE FOLKS WHAT 23:47:27 EAR GOING TO LOOK AT TONIGHT. >> WE WENT AROUND MANHATTAN TO 23:47:30 HARASS SIDE KICKS AND PALM READERS AND ASTROLOGERS. 23:47:34 >> Dave: QUITE A BIG BUSINESS IN NEW YORK CITY. 23:47:36 >> THEY'RE ALL OVER THE PLACE. MIND READERS AND PEOPLE READ 23:47:39 MINDS AS WELL. WE BASICALLY TRY TO BOTHER 23:47:42 THEM AS MUCH AS POSSIBLE AND ANNOY THEM. 23:47:45 >> Dave: HERE IS ANDY KINDLER VISITING NEW YORK CITY PSYCHE 23:47:48 ICKES. TAKE A LOOK. 23:47:49 >> TELL ME WHAT YOU DO, ANNA. >> ALL RIGHT. 23:47:52 I AM A TAROT CARD READER. I'D LIKE YOU TO CUT THE CARDS 23:47:58 IN THREE PILES. >> THERE YOU GO. 23:48:02 >> ALL RIGHT. NOW WHY DON'T YOU PUT THE 23:48:07 CARDS BACK ANYWAY LIKE. >> IF YOU HAD WANTED ME TO DO 23:48:09 THAT, I WOULDN'T HAVE CUT THEM IN THREE PARTS. 23:48:12 IF WE'RE JUST GOING TO PUT IT BACK TOGETHER. 23:48:15 IF I SAID THE WORD BE-DAZZLER TO YOU. 23:48:18 WOULD THAT RG A BELL AT ALL? >> NOT REALLY. 23:48:29 >> ARE YOU ABLE TO CONTACT THE DEAD? 23:48:32 >> YES, I AM. >> CAN WE TRY AND CONTACT JIM 23:48:35 NEIGHBORS. >> WHO IS THAT? 23:48:36 >> HE'S A FAMOUS SINGER. LET'S SEE IF WE CAN. 23:48:41 MAYBE HE KNOWS WHO GOMER PYLE IS. 23:48:46 >> HE SEEMS TO BE VERY CONTENT WITH THE WAY HIS LIFE IS YOU 23:48:51 HAVE A SPIRITUAL CONNECTION WITH YOU. 23:48:53 >> THAT'S TRUE. I CAN'T LIE ABOUT THAT. 23:48:58 >> YOU KNOW, THEY SAY ASTROLOGY IS THE CLOCK OF 23:49:03 DESTY. >> I HAVE A POSTER THAT SAYS 23:49:05 THAT. >> I GOT IT FROM THAT. 23:49:08 >> I THOUGHT IT WAS ORIGINAL. >> I'M HERE WITH ROGER. 23:49:14 ROGER, YOU ARE A MALE WITCH. IS THAT CORRECT? 23:49:16 >> I AM, YES. >> WHY IS WARLOCK SO OUT OF 23:49:19 FAVOR? WHEN SOMEONE IS TORTURED FOR 23:49:22 BEING A WITCH AS THEY USED TO DO ALL THE TIME, WOMEN'S 23:49:26 BODIES ARE MADE TO WITHSTAND MORE PAIN. 23:49:28 MEN'S BODIES USUALLY CAN'T TAKE AS MUCH PAIN. 23:49:33 SO THERE WAS A COVEN IF THERE WAS A COVENITH THE OTHER 23:49:38 WITCHES DO. >> DO YOU EVER WISH YOU HADN'T 23:49:43 ASKED A QUESTION SOMETIMES OR MAYBE YOU WOULDN'T BRING UP A 23:49:46 TOPIC? >> IF YOU READ COFFEE LATE AT 23:49:51 NIGHT DO YOU FIND IT'S HARD TO GET TO SLEEP. 23:49:53 >> NO. >> DO YOU EVER FIND THAT 23:49:55 YOU'RE CRANKY IN THE MORNING BEFORE YOU GIVE YOUR FIRST CUP 23:49:58 OF COFFEE READING? >> NO, ACTUALLY I DO WAKE UP 23:50:01 VERY HAPPY. >> IN THE SUMMER DO YOU READ 23:50:03 ICE COFFEE AT ALL? WILL YOU LAUGH AT ONE OF MY 23:50:08 JOKES GIVE ME A CHUCKLE? SHE HAS THE AMAZING ABILITY TO 23:50:12 MAKE PREDICTIONS FROM WHAT'S LEFT IN THE BOTTOM OF A COFFEE 23:50:15 CUP. WOULD YOU SAY WHAT YOU DO IS 23:50:19 MORE BULL (BEEP NCHL (OR HORSE (BEEP). 23:50:24 DURING MY READING WITH ANAH, THE UNTHINKABLE HAPPENED. 23:50:27 I WAS DEALT THE DREADED DEATH CARD. 23:50:31 IF I DIE, YOU ARE LIBEL. I CAME IN HERE AND I WAS 23:50:36 REALLY FINE. I FELT GOOD. 23:50:38 I GET A DEATH CARD. ALL OF A SUDDEN IT'S A 23:50:41 SUGGESTION LIKE A HYPNOSIS. >> I DON'T SEE.... 23:50:43 >> I HOPE YOU HAVE TAROT INSURANCE. 23:50:48 I'M SURE YOU'RE VERY FAMILIAR WITH LOVE OILS. 23:50:50 I MAKE A LOVE OILS. WHICH I JUST HAPPEN TO HAVE ON 23:50:53 . I'VE BEEN MAKING THIS LOVE OIL 23:50:55 SINCE I WAS 12 YEARS OLD. >> WHEN YOU USE ROGER'S LOVE 23:51:10 OIL, YOU'LL FEEL THAT TINGLE IN YOUR PANTS THAT MAKES YOU 23:51:13 THAT IT'S WORKING. CAN YOU PREDICT HOW THIS 23:51:18 COMEDY PIECE WILL END? WILL I GET A HUGE LAUGH? 23:51:32 >> NO. >> Dave: VERY NICE, ANDY. 23:51:44 WAIT A MINUTE. MARCH 9 ANDY KINDLER WILL BE 23:51:50 HOSTING LIVE AT GOTHAM FOR COMEDY CENTRAL. 23:51:52 >> SOUS GOOD. >> Dave: LOOKING FORWARD TO 23:51:53 THAT. THANK YOU VERY MUCH, ANDY 23:51:57 KINDLER, LADIES AND GENTLEMEN. WE'LL BE RIGHT BACK WITH 23:51:59 SENATOR JO McCAIN, EVERYBODY. 23:52:03 SPEND LESS TIME LYING AWAKE... 23:52:06 WITH ANNOYING ACHES AND PAINS... 23:52:08 AND MORE TIME ASLEEP... WHEN YOU SWITCH 23:52:10 FROM TYLENOL PM... TO ADVIL PM. 23:52:14 ADVIL PM. LESS TIME LYING AWAKE. 23:52:16 MORE TIME ASLEEP. I'M FIGHTING A COLD... 23:52:20 BUT I'VE GOT MY FIRST FIGHT TODAY. 23:52:23 I WANT ADVIL COLD & SINUS. WITH THE POWER OF ADVIL... 23:52:27 PLUS A HARD-HITTING DECONGESTANT. 23:52:28 THAT'S THE POWER OF ADVIL COLD & SINUS. 23:52:31 NOW AVAILABLE AT YOUR PHARMACY COUNTER. 23:52:33 TRUCK GUYS WILL TELL YOU TAKING OFF FROM A DEAD STOP 23:52:35 WITH 10,000 LBS AIN'T NO PICNIC. 23:52:41 SO THIS HALF-TON'S GOT THE MOST TORQUE, 23:52:44 A SIX-SPEED TRANNY WITH TOW/HAUL MODE... 23:52:49 AND FOUR OVERSIZED DISC BRAKES. 23:52:52 BECAUSE STOPPING 10,000 LBS... 23:52:54 tires squeal ) AIN'T NO PICNIC EITHER. 23:52:58 AVAILABLE ON THE ALL NEW FULL-SIZE TUNDRA-- 23:53:01 THE TRUCK THAT'S CHANGING IT ALL. 23:55:28 HERE'S TONIGHT'S TOP TEN, LADIES AND GENTLEMEN. 23:55:41 YESTERDAY THE STOCK MARKET'S WORST DAY IN FIVE-AND-A-HALF 23:55:43 YEARS. THE DOW JONES INDUSTRIAL 23:55:46 AVERAGE DROPPED 416 POINTS COSTING INVESTORS $600 23:55:51 BILLION! OUCH! 23:55:53 >> Paul: I GOT THAT ON ME. >> Dave: THE CATEGORY TONIGHT 23:55:59 TOP TEN SIGNS YOU HAVE A BAD STOCKBROKER. 23:56:01 KIND OF THING YOU WANT TO BE MINDFUL WHEN YOU LOSE $600 23:56:05 BILLION. >> Paul: I WOULD SAY. 23:56:15 WHAT DOES THAT MEAN? THAT MEANS NOTHING. 23:56:37 WAIT A MINUTE. THEN HIS PANTS GO DOWN. 23:56:39 THEN HIS PANTS GO DOWN. INEXPLICABLY HIS PANTS GO 23:56:43 DOWN. WHO'SOT A BAD STOCKBROKER? 23:57:30 >> Dave: OUR FIRST GUEST IS A 23:57:35 DECORATED WAR HERO, A BEST SELLING AUTHOR AND YOUR 23:57:37 SENATOR FROM... SENIOR SENATOR FROM THE GREAT STATE OF 23:57:41 ARIZONA. LADIES AND GENTLEMEN, SENATOR 23:57:42 JOHN McCAIN. JOHN, COME ON OUT. 23:57:44 ( APPLAUSE ) GOOD TO SEE YOU, JOHN. 23:58:02 >> GLAD TO SEE YOU, DAVE. >> Dave: YOU HAVEN'T BEEN HERE 23:58:04 IN SIX MONTHS, EIGHT MONTHS, A YEAR, SOMETHING LIKE THAT. 23:58:07 >> SEEMS LIKE FOREVER. >> Dave: BLESS YOUR HEART. 23:58:10 YOU HAD A BIRTHDAY. >> Paul: SENATOR, NICE TO SEE 23:58:12 YOU, SIR. >> NICE TO SEE YOU, SIR. 23:58:15 >> Dave: HE HAD A BIRDAY. >> TRAGICALLY. 23:58:17 >> Dave: NO, NO, NO. IT WAS A LANDMARK. 23:58:19 ONE OF THE BIG BIRTHDAYS. >> YEP, I'M OLDER THAN DIRT. 23:58:22 I'VE GOT MORE SCARS THAN FRANKENSTEIN. 23:58:25 I'VE SEEN A FEW THINGS. >> Dave: YOUR BIRTHDAY WAS.... 23:58:28 >> AUGUST 29. >> Dave: 70 YEARS OLD. 23:58:30 >> SHHH. DO WE HAVE TO TALK ABOUT IT. 23:58:33 >> Dave: SORRY ABOUT THAT. HOW DID YOU COMMEMORATE THAT 23:58:36 DAY? WHAT DID YOU DO? 23:58:37 >> CRIED. ACTUALLY, I SLEPT LIKE A BABY. 23:58:42 SLEEP TWO HOURS, WAKE UP AND CRY. 23:58:44 SLEEP TWO HOURS, WAKE UP AND CRY. 23:58:51 >> Dave: YOU COULD DO A LITTLE WORK ON THE TOP TEN. 23:58:57 >> I GUESS YOU'VE BEEN WONDERING WHAT WE'RE DOING IN 23:58:59 THE UNITED STATES SENATE. >> Dave: NO, I WANT TO KNOW 23:59:01 WHAT YOU DID ON YOUR BIRTHDAY. >> I TRIED NOT TO THINK ABOUT 23:59:05 IT. >> Dave: DO YOU HAVE ANY 23:59:06 SPECIAL ACTIVITIES? DID YOU GO ANY PLACE? 23:59:08 >> NO. JUST TIME WITH MY WIFE CINDY 23:59:10 AND ACCEPT CALLS OF CONDOLENCES FROM ALL OVER. 23:59:17 AND A FEW, YOU KNOW, ARE YOU STILL AROUND? 23:59:20 >> Dave: WELL, GOOD. YOU KNOW WHAT? 23:59:22 I THINK WE'LL JUST CHANGE THE SUBJECT HERE THEN. 23:59:26 HOW ARE THINGS IN THE SENATE THESE DAYS, SENATOR? 23:59:31 >> Paul: WHY DIDN'T I THINK OF THAT. 23:59:33 ( APPLAUSE ) >> Dave: BEFORE WE GET TO THAT, 23:59:36 WHAT ABOUT THIS? HERE'S WHAT WE REALLY WANT IS 23:59:39 PRESIDENTIAL CAMPAIGN GOSSIP AND DIRT AND BACK STABBING AND 23:59:42 THE DEMOCRATS NOW ARE IN A POSITION WRE THEY COULD COME 23:59:45 IN AND REALLY MAKE HAY. ALL OF A SUDDEN YOU HAVE A 23:59:49 LIKABLE YOUNG NEWCOMER, BARACK OBAMA AND YOU HAVE HILLARY 23:59:52 CLINTON. >> VERY ATTRACTIVE YOUNG 23:59:56 WOMAN. >> Dave: SUDDENLY THERE'S A 23:59:58 FEUD BECAUSE THE BIG MONEY FROM HOLLYWOOD HAS SEEMED TO 00:00:01 HAVE SHIFTED FROM HILLARY TO BARACK OBAMA. 00:00:04 WHAT DO YOU KNOW ABOUT THAT AND WHAT CAN YOUELL US ABOUT 00:00:06 THAT? >> I'VE NEVER HAD TO WORRY TOO 00:00:07 MUCH ABOUT THAT MYSELF. IT SEEMS THAT ACCORDING TO 00:00:14 SOME REPORTS THAT SOME PEOPLE THAT USED TO BE FRIENDS OF THE 00:00:18 FORMER PRESIDENT AND SENATOR CLINTON ARE NO LONGER THEIR 00:00:22 FRIENDS TO SAY THE LEAST. >> Dave: WHY IS THAT? 00:00:24 BECAUSE THEY FEEL THAT THERE'S A CERTAIN ENCUMBRANCE WITH THE 00:00:28 CLINTON NAME. AND THAT BARACK OBAMA DOES NOT 00:00:31 HAVE TO SUFFER. >> WELL, WE'VE HAD EITHER... 00:00:35 SERIOUSLY WE HAVE HAD A BUSH OR A CLINTON IN THE PRESIDENCY 00:00:38 OR VICE PRESIDENCY SINCE, I BELIEVE, 1988. 00:00:40 THAT'S A LONG TIME. PEOPLE START THINKING ABOUT 00:00:44 DYNASTIES. WE'VE NEVER HAD A GOOD SCOTCH- 00:01:02 >> Dave: AS A POSSIBLE CANDIDATE. 00:01:04 QUITE A FEW PEOPLE ARE ANNOUNCING AND SOME ARE 00:01:08 ANNOUNCED AND DROPPED OUT. >> THE LAST TIME WE WERE ON 00:01:12 THIS PROGRAM, I'M SURE YOU REMEMBER EVERYTHING VERY 00:01:14 CLEARLY. >> Dave: YES. 00:01:15 >> AS WE SAY. BUT YOU ASKED ME IF I WOULD 00:01:17 COME BACK ON THIS SHOW IF I WAS GOING TO ANNOUNCE. 00:01:20 >> Dave: YES. >> I AM ANNOUNCE THAT I WILL 00:01:22 BE A CDIDATE FOR PRESIDENT OF THE UNITED STATES. 00:01:25 >> Dave: OH, WOW. ( CHEERS AND APPLAUSE ) 00:01:31 GOOD FOR YOU. WOW. 00:01:47 A VERY POPULAR ANNOUNCEMENT. >> CAN WE TRY THAT AGAIN 00:01:52 (SINGING "HAIL TO THE CHIEF") HAIL TO THE CHIEF 00:02:00 >> Dave: HOW ABOUT THAT? >> GOOD JOB. 00:02:02 >> Dave: NOW, FIRST OF ALL, CONGRATULATIONS AND WHAT WERE 00:02:06 THE FACTORS LEADING TO THIS DECISION? 00:02:09 >> I THINK TO BE ON THIS SHOW WAS THE FIRST REASON. 00:02:15 >> Dave: WELL, GOOD. ( APPLAUSE ) 00:02:22 SO YOUR PRIORITIES ARE IN THE RIGHT SPOT. 00:02:24 >> YOU CAN'T DO THESE THINGS WITHOUT MONEY. 00:02:26 I WILL TAKE THAT COUNTERFEIT MONEY THAT YOU HAD EARLIER. 00:02:31 >> Dave: WE'VE GOT A SHOEBOX FULL OF THAT. 00:02:35 LET'S TALK ABOUT SOME OF THE OTHER REPUBLICANS IN THE 00:02:38 FIELD. WHAT ABOUT RUDY GIULIANI? 00:02:40 HE'S IN, RIGHT? ALTHOUGH IT DOESN'T SEEM TO 00:02:43 HAVE BEEN AS DEFINITIVE AS WHAT YOU JUST SAID. 00:02:45 HE'S IN. >> BY THE WAY I'LL BE MAKING A 00:02:48 FORMAL ANNOUNCEMENT IN APRIL. >> Dave: THIS IS NOT THE 00:02:50 FORMAL ANNOUNCEMENT. >> THIS IS THE ANNOUNCEMENT. 00:02:52 YOU DRAG THIS OUT AS LONG AS YOU CAN. 00:02:55 YOU DON'T JUST HAVE ONE RENDITION. 00:02:57 >> Dave: YOU'RE SAYING THIS WAS NOT THE FORMAL 00:03:00 ANNOUNCEMENT. >> THIS IS THE ANNOUNCEMENT 00:03:02 PRECEDING THE FORMAL ANNOUNCEMENT. 00:03:03 >> Dave: HOW DO YOU THINK THAT MAKES ME FEEL? 00:03:05 >> YOU WERE FIRST. >> Paul: HE'S DOING THE FORMAL 00:03:10 ANNOUNCEMENT ON LENO. >> Dave: YEAH, WHAT ABOUT 00:03:16 THAT? THANKS, PAUL. 00:03:25 NICE GOING. I APPRECIATE IT. 00:03:28 >> YOU LIKE YOUR JOP ANYWAY, SO.... 00:03:33 >> Dave: LET'S RUN DOWN THE FIELD. 00:03:34 WE WERE TALKING ABOUT FORMER MAYOR GIULIANI. 00:03:38 >> AN AMERICAN HERO. >> Dave: HOW DO YOU FEEL ABOUT 00:03:41 RUNNING FOR THE NOMINATION AGAINST THAT MAN. 00:03:42 >> I THINK HE'S GOING TO BE A VERY FORMIDABLE CANNED 00:03:46 CANDIDATE. I THINK HE RALLIED THE NATION 00:03:49 AFTER 9/11. I THINK THE AUDIENCE WOULD 00:03:50 AGREE WITH THAT. I THINK HE'S AN AMERICAN HERO. 00:03:52 >> Dave: ABSOLUTELY. EVEN WITH A SUBSTANTIAL 00:03:59 OPPONENT LIKE THAT, YOU STILL LIKE YOUR CHANCES OBVIOUSLY. 00:04:01 >> YES. >> Dave: AND DO WE EVER SEE.... 00:04:07 >> AFTER THAT DESCRIPTION OF HIM I'M NOT SO SURE. 00:04:10 MAYBE I SHOULD RETRACT MY ANNOUNCEMENT. 00:04:13 >> Dave: AND WHAT ABOUT THE POSSIBILITY PRESIDENT AND THE 00:04:16 VICE PRESIDENT THAT KIND OF THING. 00:04:17 DO YOU DIVIDE THAT SORT OF DEAL UP? 00:04:19 YOU'RE NOT INTERESTED IN SPLITTING THAT. 00:04:21 >> YOU MAY REMEMBER IN THE LAST ELECTION THERE WAS SOME 00:04:24 CONVERSATION ABOUT ME BEING VICE PRESIDENT OF THE UNITED 00:04:26 STATES. IT WASN'T CLEAR WHICH PARTY. 00:04:30 AND I WAS ON ONE OF THE SHOWS AND THE GUY SAID, "WHAT'S THIS 00:04:33 ABOUT YOU BEING VICE PRESIDENT OF THE UNITED STATES?" 00:04:35 I SAID I SPENT ALL THESE YEARS IN A NORTH VIETNAMESERISON 00:04:40 CAMP, KEPT IN THE DARK, FED SCRAPS, WHY THE HECK WOULD I 00:04:43 WANT TO DO THAT ALL OVER AGAIN? 00:04:47 >> Dave: THAT'S EXACTLY RIGHT. WE'LL BE RIGHT BACK WITH 00:04:50 SENATOR JOHN McCAIN. DODGE RAM -- 00:04:57 IT'S GOT A LEGENDARY HEMI V8... WITH 345 HORSEPOWER, 00:05:02 AN ALL-NEW, 6.7-LITER CUMMINS TURBO DIESEL... 00:05:05 WITH 650-POUND FEET OF TORQUE, OVER 5,000 POUNDS 00:05:07 PAYLOAD AVAILABLE... OR UP TO 00:05:09 16,900 POUNDS OF TOWING. DODGE RAM -- 00:05:12 THE LONGEST-LASTING, MOST DURABLE LINE 00:05:13 OF FULL-SIZE PICKUPS. NOW, GET UP TO $5,000 00:05:16 CASH ALLOWANCE ON RAM 1500. DISCOVER AMERICA'S HOTTEST 00:05:20 PRODUCTS AT YOUR DODGE DEALER. >> Dave: SENATOR JOHN McCAIN. 00:07:52 LET'S TALK ABOUT THE SITUATION IN IRAQ. 00:07:54 WE HAVEN'T CHATTID WITH YOU SINCE THE PRESIDENTIAL POLICY, 00:07:57 THE TROOP SURGE. I UNDERSTAND, I BELIEVE, THAT 00:08:01 YOU'RE IN FAVOR OF THAT PURSUIT. 00:08:02 IS THAT CORRECT? >> I THINK IT'S REALLY OUR 00:08:05 LAST CHANCE TO SALVAGE A VERY DIFFICULT WAR WHICH HAS BEEN 00:08:09 BADLY MISMANAGED AND WE'VE GOT A VERY GOO GENERAL OVER THERE, 00:08:13 A GUY NAMED GENERAL PETRAEUS. >> Dave: THIS IS A GUY YOU'VE 00:08:19 KNOWN THROUGHOUT YOUR CAREER IN THE SENATE. 00:08:21 >> NO, BUT I'VE KNOWN HIM WELL ENOUGH TO KNOW HE'S REALLY AN 00:08:24 OUTSTANDING GENERAL. GENERALSLONE DON'T DO IT BUT 00:08:28 HE DOES. I THINK WE CAN HOPEFULLY BRING 00:08:31 ABOUT A PERIOD OF STABILITY SO THAT YOU CAN HAVE ECONOMIC AND 00:08:35 POLITICAL DEVELOPMENT AND STOP THIS TERRIBLE BLOODLETTING 00:08:39 WHICH IS, AS YOU KNOW, SECTARIAN VIOLENCE, TRIBLE 00:08:44 THINGS ARE HAPPENING. SHOWING A LITTLE PROGRESS. 00:08:46 LET'S HOPE AND PRAY THAT IT WORKS. 00:08:48 >> Dave: HOW WILL WE KNOW? >> I BELIEVE THAT IT CAN. 00:08:51 >> Dave: WHAT WILL BE THE SIGNS THAT WILL INDICATE THAT 00:08:53 IS WORKING, THAT THERE IS STABILITY AND ECONOMIC 00:08:55 PROGRESS? WHAT WILL BE THOSE INDICATORS? 00:08:57 ARE WE TALKING ABOUT A CEASE-FIRE THROUGHOUT THE 00:08:59 ENTIRE COUNTRY AND THEN ANOTHER SIX MONTHS, ANOTHER 00:09:02 YEAR, ANOTHER TWO YEARS? WHAT? 00:09:03 >> I THINK FIRST YOU'D HAVE TO HAVE A VERY VIABLE GOVERNMENT 00:09:09 THERE, THE MALIKI GOVERNMENT HAS TO HAVE REVENUE SHARING. 00:09:13 THEY HAVE TO HAVE ELECTIONS IN THE PROVINCES. 00:09:16 THERE HAS TO BE A STRONG IRAQI MILITARY TO TAKE OVER OUR 00:09:20 RESPONSIBILITIES. REMEMBER, DAVE, IT'S NOT 00:09:23 AMERICAN PRESENCE THAT BOTHERS AMERICANS. 00:09:27 IT'S AMERICANS CASUALTIES. WE'VE HAD TROOPS IN SOUTH 00:09:31 KOREA FOR 50 YEARS. NOBODY MINDS. 00:09:32 IF WE CAN GET THE IRAQIS MORE CAPABLE OF CARRYING THE BURDEN, 00:09:37 OURS TO WITHDRAW, THEN I THINK WE CAN SET UP AN ENVIRONMENT 00:09:40 WHERE POSSIBLY THESE PEOPLE CAN HAVE A CHANCE. 00:09:44 BUT IT'S A VERY TOUGH THING. YOU SAW EARLIER ABOUT THE 00:09:49 IRANIANS SENDING IN STUFF AND THE LEVEL OF VIOLENCE HIGHER. 00:09:54 BUT THE ONE THING WE ALL AGREE ON IS THE YOUNG MEN AND WOMEN 00:09:58 WHO ARE SERVING ARE MARVELOUS. ( APPLAUSE ) 00:10:10 IN THE SENATE I WAS GOING TO TELL YOU WE SPENT TWO WEEKS 00:10:13 DEBATING A MOTION THAT WAS A VOTE TO CUT OFF DEBATE, TO 00:10:20 MOVE TO A MOTION TO CUT OFF DEBATE SO WE COULD VOTE ON A 00:10:24 MEANINGLESS RESOLUTION. THAT WAS YOUR TAX DOLLARS AT 00:10:27 WORK. >> Dave: THANK YOU. 00:10:28 NICE JOB. >> TWO WEEKS, JUST TWO WEEKS 00:10:32 WE SPENT ON THAT. WHEN YOU SAY TWO WEEKS, THAT'S 00:10:35 TUESDAY THROUGH THURSDAY. >> Dave: OKAY. 00:10:39 SO THE COUNTRY OF IRAQ IS STABILIZED. 00:10:42 THE GOVERNMENT, AS YOU DESCRIBED, IS VIABLE. 00:10:46 THE VIOLENCE IS NOW SIGNIFICANTLY REDUCED. 00:10:48 >> YES. >> Dave: THE NET BENEFIT TO 00:10:50 THE UNITED STATES BEYOND AMERICANS HAVE STOPPED LOSING 00:10:54 THEIR LIVES THERE IS WHAT? >> PROBABLY THAT WE HAVE A 00:11:01 FUNCTIONING DEMOCRACY OR A GOVERNMENT THAT WILL BECOME A 00:11:05 DEMOCRACY, THAT THERE WILL BE OIL REVENUES WHICH WILL THEN 00:11:09 BE USED BY THE IRAQIS TO BUILD UP THEIR OWN COUNTRY AND THAT 00:11:14 MAYBE IT WILL SPREAD IN THE REON. 00:11:16 YOU KNOW, THE ONLY REALLY ONLY TWO DEMOCRACIES, ONE IS ISRAEL 00:11:20 AND THE OTHER IS TURKEY, IN THE WHOLE REGION. 00:11:24 OBVIOUSLY WE'D LIKE TO SEE THAT. 00:11:26 I THINK KNOW WHAT YOU'R GETTING AT. 00:11:28 THAT IS SHOULD WE HAVE GONE IN IN THE FIRST PLACE? 00:11:32 THERE WAS MASSIVE INTELLIGENCE FAILURES AND BOOKS HAVE BEEN 00:11:35 WRITTEN ABOUT THE MISMANAGEMENT OF THE WAR AND I 00:11:38 WOULD RECOMMEND FIASCO OR COBRA 2 OR ONE OF THESE OTHER 00:11:43 BOOKS BUT WE ARE WHERE WE ARE NOW. 00:11:45 WE ARE WHERE WE ARE NOW. RATHER THAN REVIEW ALL THE 00:11:47 PROBLEMS WHAD, IF WE WITHDRAW EARLY WHICH EVERY 00:11:50 EXPERT I KNOW SAYS IT WILL DESCEND INTO CHAOS, SECTARIAN 00:11:54 VIOLENCE AND EVEN GENOCIDE, SO THAT'S WHY WHEN I SAY THIS MAY 00:11:58 BE OUR LAST CHANCE TO SUCCEED BECAUSE AMERICANS ARE VERY 00:12:02 FRUSTRATED AND THEY HAVE EVERY RIGHT TO BE. 00:12:03 WE'VE WASTED A LOT OF OUR MOST ECIOUS TREASURE WHICH IS 00:12:07 AMERICAN LIVES OVER THERE. >> Dave: AND NOW THERE'S A 00:12:10 DISCUSSION ABOUT, THE INDICATION, PROOF, THAT SOME 00:12:14 OF THESE EXPLOSIVE DEVICES ARE COMING IN AND BEING SET OFF 00:12:17 WITH THE HELP OF IRANIANS AND MORE AND MORE THAT THEY'RE 00:12:21 INSINUATING THEMSELVES INTO THAT CONFLICT. 00:12:24 >> VERY LETHAL. >> Dave: AND ARE WE NOW TO 00:12:26 BELIEVE THAT GROUND WORK IS BEING LAID THERE FOR SOME KIND 00:12:29 OF INCURSION? >> NO, I DON'T THINK ACCEPT 00:12:33 THAT. I THINK IT'S TERRIBLE THAT THE 00:12:37 IRANIANS ARE DOING THIS. WE'VE ALSO GOT ANOTHER PROBLEM 00:12:39 WITH THE IRANIANS AND THAT IS THAT THEY'RE BUILDING NUCLEAR 00:12:43 WEAPONS AS YOU KNOW. THE LATEST INSPECTOR OVER 00:12:46 THERE SAYS THEY ARE NOT STOPPING IT. 00:12:48 WE HAVE TO GET SANCTIONS AND WE'VE GOT TO GET OUR ALLIES TO 00:12:51 JOIN US IN TRYING TO PUT EVERY KIND OF PRESSURE ON THE 00:12:54 IRANIAN GOVERNMENT TO STOP THAT. 00:12:57 SUPPOSE YOU'RE THE PRIME MINISTER OF ISRAEL AND YOUR 00:12:59 INTELLIGEN COMES TO YOU AND SAYS THE IRANIANS HAVE A 00:13:02 NUCLEAR WEAPON. IT'S ON A MISSILE AIMED AT US 00:13:06 AND THEIR PRESIDENT HAS STATED TIME AFTER TIME THAT THEIR 00:13:08 GOAL IS THE EXTINCTION OF THE STATE OF ISRAEL. 00:13:10 THIS IS SERIOUS BUSINESS. AS A COUNTRY AND AS TWO 00:13:13 PARTIES, WE'VEOT TO SIT DOWN TOGETHER AND WORK OUT SOME OF 00:13:17 THESE STRATEGIES TOGETHER IN A BIPARTISAN FASHION. 00:13:20 YOU KNOW, POLITICAL PARTIES DON'T LOSE WARS. 00:13:26 PRESIDENTS DON'T LOSE WARS. NATIONS LOSE WARS. 00:13:29 WHEN NATIONS LOSE WARS, NATIONS SUFFER FROM IT. 00:13:32 SO WE'VE GOT TOO MUCH OF THIS PARTISANSHIP, I THINK WE 00:13:36 SHOULD SIT DOWN AS GROWN-UPS AND TRY TO ADDRESS THIS 00:13:39 PROBLEM WITH IRAN TODAY. >> Dave: AND YOU BELIEVE THAT 00:13:42 WHAT YOU JUST DESCRIBED WITH THE PARTIES YOU DESCRIBED IS 00:13:46 LIKELY? IS POSSIBLE? 00:13:47 >> OH, I THINK SO. I CAN PROMISE YOU IF I'M 00:13:50 PRESIDENT OF THE UNITED STATES I WILL REACH OUT MY HAND TO 00:13:52 THE DEMOCRATS ACROSS THE AISLE AND SAY, WE WILL WORK 00:13:56 TOGETHER. WE WILL WORK TOGETHER BECAUSE 00:13:58 THIS IS THE GREATEST NATION IN THE WORLD AND OUR BEST DAYS 00:14:01 ARE AHEAD OF US. BUT WE HAVE TO SHOW A COMMON 00:14:03 FRONT TO THREATS FROM COUNTRIES LIKE IRAN. 00:14:07 >> Dave: I MEAN, YOU DESCRIBE IT IN THOSE TERMS. 00:14:10 IF OUR BEST DAYS ARE AHEAD OF US-- AND WHAT A WONDERFUL 00:14:13 NOTION THAT IS-- IT'S GOING TO TAKE AN AWFUL LOT OF WORK JUST 00:14:16 TO GET BACK TO THE BREAK-EVEN POINT. 00:14:18 DON'T YOU THINK? >> WE HAVE PROBLEMS EVERYWHERE 00:14:21 IN THE WORLD. WE'RE STILL THE MOST POWERFUL, 00:14:24 THE MOST INNOVATIVE, THE FINEST GENERATION OF YOUNG 00:14:31 THE FINEST YOUNG AMERICANS TODAY. 00:14:33 THEY'RE VOLUNTEERING EVERYWHERE. 00:14:34 THEY ARE WORKING IN THEIR COMMUNITIES. 00:14:36 THEY'RE JOINING THE MILITARY, THE PEACE CPS, AMERICORPS. 00:14:39 I HAVE GREAT FAITH IN THIS GENERATION. 00:14:42 YOUNG AMERICANS. >> Dave: I WANT TO ADD 00:14:44 SOMETHING THAT TOM BROKAW SAID ON THIS SHOW MONTHS AND MONTHS 00:14:48 AGO. EVERYBODY FEELS TS WAY OR 00:14:49 SHOULD FEEL THIS WAY. IT'S ABSOLUTELY A 00:14:52 UNIVERSALITY. YOU CAN HATE THE WAR BUT YOU 00:14:54 CAN'T HATE THE WARRIORS. THAT'S JUST EXACTLY WHAT WE'VE 00:14:56 GOT HERE. ( APPLAUSE ) 00:15:05 >> I KNOW THAT WE'RE RUNNING OUT OF TIME. 00:15:08 A COUPLE WEEKS AGO, ABOUT THREE WEEKS AGO I WAS DOWN IN 00:15:10 SAN ANTONIO AT THE BROOK ARMY HOSPITAL. 00:15:12 THEY OPENED A REHAB CENTER THAT HAD BEEN PAID FOR BY 00:15:15 DONATIONS BY AMERICANS. 600,000 AMERICANS HAVE PAID 00:15:18 FOR THIS $50 MILLION FACILITY. WE ALL SAT DOWN, THERE WERE 00:15:22 4,000 PEOPLE THERE. SENATOR CLINTON AND I WERE 00:15:24 THERE TOGETHER. THEY SAID LET'S WELCOME OUR 00:15:28 HEROES AND THESE YOUNG PEOPLE CAME OUT WITH THEIR... ON 00:15:31 CRUTCHES AND IN WHEELCHAIRS. SOME BADLY BURNED. 00:15:34 AND EVERY ONE OF THEM WAS BRAVE AND PROUD AND WONDERFUL. 00:15:38 SO WHEN YOU TALK ABOUT POLITICAL AMBITIONS AND OTHER 00:15:41 THINGS IN OUR LIVES, IT PALES IN SIGNIFICANCE AS TO WHAT 00:15:46 THESE BRAVE YOUNG AMERICANS HAVE DONE. 00:15:47 >> Dave: WITHOUT QUESTION. WELL, LITS GOOD TO SEE YOU 00:15:51 AGAIN. HAPPY BELATED BIRTHDAY AND 00:15:54 CONGRATULATIONS ONOUR CAMPAIGN FOR THE PRESIDENCY. 00:15:55 >> THANK YOU, SIR. >> Dave: MY PLEASURE. 00:15:59 SENATOR JOHN McCAIN. WE'LL BE RIGHT BACK, LADIES 00:16:02 AND GENTLEMEN. [TEEN TURNS ON ROCK MUSIC] 00:16:35 IT SAYS HERE THAT STRESS... [TURNS OFF RADIO] 00:16:37 CAN WEAK OUR IMMUNE SYSTEM. 00:16:40 AND ABOUT 70% OF OUR IMMUNE SYSTEM 00:16:42 IS IN OUR DIGESTIVE TRACT. RIGHT! APPARENTLY 00:16:44 A CULTURE CALLED L. CASEI 00:16:45 IMMUNITAS CAN HELP. IT IS CLINICALLY 00:16:47 PROVEN TO HELP STRENGTHEN YOUR BODY'S 00:16:49 DEFENSE SYSTEM. ONLY DANACTIVE HAS 00:16:51 L. CASEI IMMUNITAS. WE SHOULD TRY 00:16:54 THIS DANACTIVE! Announcer: NEW DANACTIVE... 00:17:04 BEHOLD... THE POWER OF PHANTOM. 00:17:06 GILLETTE FUSION POWER PHANTOM. 00:17:09 FUSION POW IS SO ADNCED, 00:17:11 YOU BARELY FEEL THE BLADES. 00:17:13 SHAVING CAN CREATE UNCOMFORTABLE FRICTION. 00:17:15 TURN ON FUSION POWER. SOOTHING MICROPULSES 00:17:17 HELP YOU REDUCE FRICTION... AND INCREASE RAZOR GLIDE. 00:17:20 YOU'LL BARELY FEEL THE BLADES, 00:17:22 YOU'LL REALLY FEEL THE DIFFERENCE. 00:17:24 THE COMFORT OF FIVE BLADES... 00:17:26 PLUS THE PRECISION OF ONE. FUSION POWER PHANTOM. 00:17:30 GILLETTE. THE BEST A MAN CAN GET. 00:19:45 ( (8 00:20:00 >> Dave: THANK YOU VERY MUCH. GOOD POINT THERE ON SENATOR 00:20:03 McCAIN. WE'LL KEEP OUR EYE ON HIM. 00:20:06 FIND OUT WHERE HE MAKES THE OFFICIAL ANNOUNCEMENT. 00:20:08 >> Paul: EXACTLY. THE OFFICIAL ANNOUNCEMENT. 00:20:10 >> Dave: BOY, WE'LL JUST WAIT ON THAT ONE. 00:20:13 >> Paul: THAT'S ALL WE CAN DO. >> Dave: GIVE HIM A GOOD 00:20:17 TALKING TO. >> Paul: THAT'S ALL WE CAN DO. 00:20:18 >> Dave: HERE'S SOMETHING I WAS LOOKING THROUGH ONE OF MY 00:20:21 PERIODICALS THE OTHER DAY. PRINCE CHARLES, WHO IS THE 00:20:24 PRINCE OF.... >> Paul: HE'S THE PRINCE OF 00:20:32 WALES. >> Dave: I KNEW THAT. 00:20:34 HE WAS SHOOTING HIS MOUTH OFF ABOUT MacDONALD'S. 00:20:37 HE SAID McDONALD'S SHOULD BE OUTLAWED. 00:20:40 IT SHOULD BE OUTLAWED. THAT'S WHAT THE PRINCE OF 00:20:42 WALES SAID. AND I THINK THAT WE HAVE A 00:20:46 PICTURE OF HIM (LAUGHING). THERE HE IS RIGHT THERE. 00:20:51 YEARS AGO. SEE? 00:20:53 HERE, TAKE A LOOK AT HIM AFTER HE WENT TO McDONALD'S. 00:21:01 >> THAT'S THE JOKE? >> IS THAT THE JOKE? 00:21:04 ARE YOU STILL DOING JOKES ABOUT PRINCE CHARLES'S EARS? 00:21:08 COME ON. IS THAT THE JOKE? 00:21:10 ARE YOU STILL DOING JOKES' PRINCE CHARLES'S EARS. 00:21:14 >> Dave: WE JUST DID IT. IT WAS HILARIOUS. 00:21:16 >> THIS IS 2007. NOT 1984. 00:21:19 WAIT A MINUTE. IF IT IS 1984, I SURE AS HELL 00:21:22 WANT TO HEAR SOME CINDY LAUPER. 00:21:25 HIT IT, PAUL. >> Dave: NO, NO, NO. 00:21:31 THE PHONE RINGS IN THE MIDDLE OF THE NIGHT 00:21:35 MY FATHER ASKS WHAT YOU GOING TO DO WITH YOUR LIFE 00:21:39 OH, DADDY, DEAR, YOU KNOW YOU'RE STILL NUMBER ONE 00:21:43 BUT GIRLS JUST WANT TO HAVE FUN 00:21:45 YEAH, GIRLS JUST WANT TO HAVE FUN 00:21:49 THEY JUST WANT TO... THEY JUST WANNA... 00:21:56 GIRLS JUST WANNA HAVE FUN YEAH! 00:22:04 ( CHEERS AND APPLAUSE >> Dave: NICE GOING. 00:22:07 THANKS. DOES THAT MAKE YOU SICK TOO? 00:22:11 DID IT MAKE YOU FEEL A LITTLE SICK? 00:22:14 >> Paul: QUEASY. >> Dave: WE'LL BE RIGHT BACK 00:22:16 WITH ROBIN THICKE, EVERYBODY. (FEMALE ANNOUNCER) 00:22:51 IMPROVE THE HEALTH OF YOUR SKIN 00:22:53 WITH AVEENO DAILY MOISTURIZING LOTION. 00:22:54 THE NATURAL OATMEAL FORMULA GOES BEYOND 24 HOUR MOISTURE 00:22:57 TO IMPROVE SKIN'S HEALTH IN ONE DAY 00:22:59 WITH SIGNIFICANT IMPROVEMENT IN TWO WEEKS. 00:23:01 I FOUND A MOISTURIZER FOR LIFE. (ANNOUNCER) 00:23:03 ONLY FROM AVEENO. >> DON'T GO AWAY BECAUSE 00:25:23 THERE'S MORE WKRP IN CINCINATTI COMING UP RIGHT 00:25:27 AFTER THESE MESSAGES. I HAVE SLAYED THE DRAGON, 00:25:34 AND COME FOR MY REWARD. WELL DONE. THIS IS FOR YOU. 00:25:40 THIS IS ALL I GET ? TERMS AND CONDITIONS STATE 00:25:41 THAT YOU MUST SLAY A MINIMUM OF FOUR DRAGONS BEFORE 00:25:43 CASH IS EARNED. TAIL MUST ALSO BE PROVIDED TO 00:25:45 PROVE THAT IT IS A DRAGON... NOT JUST A LARGE LIZARD... 00:25:48 IS THIS HOW YOUR CASH REWARDS CARD TREATS YOU ? 00:25:50 INTRODUCING NO HASSLE CASH REWARDS. 00:25:52 EARN CASH ON EVERY PURCHASE, EVERYWHERE. 00:25:54 PLUS A 25% ANNUAL BONUS. OH, YOU QUALIFY TO 00:25:55 MARRY MY DAUGHTER. [ SFX: HORSE ] 00:26:00 WHAT'S IN YOUR WALLET ? HAIL TO ST. ARVIN 00:26:08 MAN, I'M SO HUNGRY I COULD EAT A HORSE. 00:26:10 SHH, YOU'RE SO INSENSITIVE. HERE. 00:26:19 NEED FOOD NOW ? MAKE EASY MAC CUPS. 00:26:22 WARM, CHEESY KRAFT MAC AND CHEESE. 00:26:24 WHEN HUNGER HITS... QUICK, MIC SOME MAC. 00:26:27 WELL, PRETEND IT'S NOT HERE. THAT'S WHAT I DO. 00:26:29 Y'KNOW WHAT I MEAN ? THIS IS MY ACCOUNTING SYSTEM. 00:26:34 UNPAID INVOICES ARE ON THE PURPLE ONES. 00:26:35 IT'S STILL EVOLVING. OUR SALES FIGURES-- 00:26:37 THEY'RE ALL RIGHT HERE. I DESIGN MY OWSPREADSHEETS. 00:26:44 Announcer: THERE'S AN EASIER WAY QUICKBOOKS. 00:26:47 IT'S SO SIMPLE, YOU CAN BE UP AND RUNNING 00:26:49 IN UNDER 15 MINUTES. WITH JUST A W CLICKS, 00:26:50 YOU CAN WRITE CHECKS, SEND INVOICES, 00:26:54 SEE WHO'S PAID AND WHO HASN'T, AND MAKE TAX TIME A CINCH. 00:26:58 THIS IS SO MUCH SIMPLER. I'M AFRAID 00:27:04 IT'S MORE THAN A, UM... SPRING FLING. 00:27:08 HERE THEY ARE BEHIND THE COUCH... 00:27:09 ON THE BOOKCASE... RIGHT IN FRONT 00:27:11 OF THE WINDOW. I THINK IT'S OVER. 00:27:17 (FEMALE ANNOUNCER) THERE'S A BETTER WAY 00:27:19 TO REDUCE SPRINGTIME ALLERGENS. 00:27:20 SWIFFER DUSTERS. IT HAS THOUSANDS 00:27:22 OF DUST-LOCKING FIBERS TO TRAP AND LOCK 00:27:24 SPRINGTIME ALLERGENS THAT OLD DUSTERS 00:27:26 STIR BACK IN THE AIR. IT'S THE CLEANER 00:27:28 SPRING CLEANER. SAME TIME TOMORROW? 00:27:31 (ANNOUNCER) SWIFFER GIVES A WHOLE NEW MEANING. 00:27:34 IF YOU'RE A HEALTH NUT ABOUT YOUR SKIN, THIS IS A NATURAL. 00:27:37 LUBRIDERM SKIN NOURISHING LOTION... 00:27:39 WITH NATURAL SHEA NUT AND COCOA BUTTERS. 00:27:41 IT HELPS DRY SKIN DRAW IN AND RETAIN MOISTURE... 00:27:44 SO IT'S NATURALLY HEALTHY. LUBRIDERM 00:27:45 SKIN NOURISHING LOTION... WITH SHEA AND 00:27:47 COCOA BUTTERS. SAM FINDS BRUSHING BORING. 00:27:50 MY SECRET WEAPON... HOO-HOOO, LISTERINE 00:27:51 AGENT COOL BLUE. IT KILLS BAD BREATH GERMS 00:27:55 AND TURNS PLAQUE BLUE; SO HE CAN BRUSH 00:27:58 MORE EFFECTIVELY. SAM, NICE WORK. 00:28:01 LISTERE AGENT COOL BLUE FOR KIDS. 00:28:42 DODGE RAM -- THE LONGEST-LASTING, 00:28:44 MOST DURABLE LINE OF FULL-SIZE PICKUPS. 00:28:46 ( crash ) ( crash ) 00:28:49 ( crash ) NOW GET UP TO $5,000 00:28:51 CASH ALLOWANCE... ON DODGE RAM 1500. 00:28:55 DISCOVER AMERICA'S HOTTEST PRODUCTS AT YOUR DODGE DEALER. 00:29:12 >> Dave: ALL RIGHTY THEN. OUR NEXT GUEST IS A TALENTED 00:29:16 SIPGER SONGWRITER WHOSE CURRENT K DR. -- I HAVE A COPY 00:29:19 OF IT RIGHT HERE-- IS ENTITLED THE ELUTION OF ROBIN THICKE. 00:29:24 LADIES AND GENTLEMEN, HERE HE IS, ROBIN THICKE. 00:29:37 >> OH BABY I'M LOST WITHOUT YOU 00:29:50 CAN'T HELP MYSELF HOW DOES IT FEEL 00:29:56 TO KNOW THAT I LOVE YOU BABY TELL ME HOW YOU LOVE ME MORE 00:30:04 AND HOW YOU THINK I'M SEXY, BABY THAT YOU DON'T WANT NOBODY 00:30:06 ELSE YOU DON'T WANT THIS GUY 00:30:09 YOU DON'T WANT THAT GUY YOU WANNA 00:30:13 TOUCH YOURSELF WHEN YOU SEE ME TELL ME H YOU LOVE MY BODY 00:30:17 AND HOW I MAKE YOU FEEL, BABY YOU WANNA ROLL WITH ME 00:30:21 YOU WANNA HOLD WITH ME YOU WANNA STAY WARM 00:30:23 AND GET OUT OF THE COLD WITH ME 00:30:26 I JUST LOVE TO HEAR YOU SAY IT IT MAKES A MAN FEEL GOOD, BABY 00:30:31 TELL ME YOU DEPEND ON ME I NEED TO HEAR IT 00:30:34 I'M LOST WITHOUT YOU CAN'T HELP MYSELF 00:30:40 HOW DOES IT FEEL TO KNOW THAT I LOVE YOU, BABY 00:30:46 I'M LOST WITHOUT YOU CAN'T HELP MYSELF 00:30:51 HOW DOES IT FEEL TO KNOW THAT I LOVE YOU, BABY 00:31:00 BABY, YOU'RE THE PERFECT SHAPE BABY, YOU'RE THE PERFECT WEIGHT 00:31:05 TREAT ME LIKE MY BIRTHDAY I WANT IT THIS WAY 00:31:08 I WANT IT THAT WAY I WANT IT 00:31:11 TELL ME YOU DON'T WANT ME TO STOP 00:31:13 TELL ME IT WOULD BREAK YOUR HEART 00:31:16 THAT YOU LOVE ME AND ALL MY DIRTY 00:31:19 YOU WANNA ROLL WITH ME YOU WANNA HOLD WITH ME 00:31:31 I JUST LOVE TO HEAR YOU SAY IT MAKES A MAN FEEL GOOD 00:31:33 BABY I'M LOST WITHOUT YOU 00:31:36 CAN'T HELP MYSELF HOW DOES IT FEEL 00:31:40 TO KNOW THAT I LOVE YOU, BABY I'M LOST WITHOUT YOU 00:31:45 CAN'T HELP MYSELF HOW DOES IT FEEL 00:31:50 TO KNOW THAT I LOVE YOU, BABY 'CAUSE YOU WILL TELL ME 00:32:00 EVERY MORNING OH YEAH 00:32:17 OH BABY I'M LOST WITHOUT YOU 00:32:23 CAN'T HELP MYSELF HOW DOES IT FEEL 00:32:28 TO KNOW THAT I LOVE YOU, BABY. CAN'T HELP MYSELF 00:32:38 HOW DOES IT FEEL TO KNOW THAT I LOVYOU, BABY 00:32:46 LOST WITHOUT YOU LOST WITHOUT YOU 00:32:48 LOST WITHOUT YOU LOST WITHOUT YOU 00:32:52 LOST WITHOUT YOU OH 00:33:07 >> Dave: THANK YOU VERY MUCH. GOOD TO HAVE YOU. 00:33:08 HOW IS YOUR FATHER DOING? GOOD, TELL HIM I SAID HELLO. 00:33:13 ROBIN THICKE, EVERYBODY. WE'LL BE RIGHT BACK.

[Late Show with David Letterman : Senator John McCain Announces Candidacy] [NEW YORK, NY USA] Late Show with David Letterman: Senator John McCain Announces he will announce his Candidacy for President of the United States in April. 00:00:12 McCain says he will announce his campaign for President in April 2007 / Campaign 2008. 23:35:21 ( BAND PLAYING "LATE SHOW" THEME ) 23:35:25 >> FROM NEW YORK, THE GREATEST CITY IN THE WORLD, 23:35:26 IT'S THE "LATE SHOW" WITH DAVID LETTERMAN. 23:35:30 TOGHT... PLUS PAUL SHAFFER AND THE 23:35:41 CBS ORCHESTRA. AND NOW, WEEPY FLORIDA JUDGE 23:35:53 DAVID LETTERMAN. ( CHEERS AND APPLAUSE ) 23:36:05 ( CHEERS AND APPLAUSE ) ( BAND PLAYING 23:36:06 "LATE SHOW" THEME ) >> Dave: THANK Y VERY MUCH. 23:36:23 ( CHEERS AND APPLAUSE ) HOW NY OF YOU FOLKS WERE 23:36:33 AFFECTED BY THE BIG STOCK MARKET PLUNGE YESTERDAY? 23:36:37 400 POINT, THE STOCK MARKET DROPPED 400 POINTS YESTERDAY. 23:36:40 BIG CORPORATIONS WERE REALLY REALLY AFFECTED BY IT. 23:36:42 AS A MATTER OF FACT, TACO BELL HAD TO LAY OFF 200 RATS. 23:36:51 AND THEN THEY FIRED THEIR CAT. THE MARKET DROPS 400 POINTS 23:36:55 AND TODAY OUT OF HABIT JET BLUE APOLOGIZED. 23:36:58 ( APPLAUSE ) I FEEL PRETTY SMUG BECAUSE I 23:37:11 DID NOT GET HURT WHEN THE MARKET PLUNGED. 23:37:13 MY ACCOUNT, BLESS HIS HEART, HAS ALL HIS MONEY IN ASTRONAUT 23:37:17 DIAPERS. ( APPLAUSE ) 23:37:26 I WAS LOOKING AT THE PAPER YESTERDAY. 23:37:28 APPARENTLY EVERYBODY ON WALL STREET YESTERDAY LOST A LOT OF 23:37:30 MONEY. EVERYBODY LOST, EXCEPT FOR 23:37:33 SOME MYSTERIOUS REASON, EVERYBODY BUT MARTHA STEWART. 23:37:50 ANY DOG OWNERS HERE? ( APAUSE ) 23:37:54 ANY DOGS? DO WE HAVE DOGS HERE TOO? 23:37:57 IN NEW JERSEY, THEY PASSED A LAW YOUR DOG CANNOT BARK FOR 23:38:00 MORE THAN HALF AN HOUR. YOUR DOG CANNOT BARKOR MORE 23:38:04 THAN HALF AN HOUR OR THEY ARREST HIM AND TAKE HIM 23:38:06 DOWNTOWN. AND I'M THINKING IF YOU REAY 23:38:09 WANT TO CUT DOWN ON IRRITATING DISTURBANCES HOW ABOUT 23:38:13 LIMITING "THE VIEW" TO HALF AN HOUR. 23:38:17 >> Paul: LOOK OUT. WATCH IT. 23:38:25 THE GUY WHO DIRECTED THE TITANIC MOVIE, THE FILM 23:38:28 DIRECTOR? LISTEN TO THIS. 23:38:29 HE CLAIMS HE'S FOUND THE TOMB OF JESUS CHRIST. 23:38:32 I JUST HOPE THIS DOESN'T LEAD TO A COURT BATTLE IN FLORIDA. 23:38:35 THAT'S ALL. I THINK THIS JAMES CAMERON, I 23:38:45 GUESS HE'S A TREMENDOUS DIRECTOR, ACADEMY AWARD 23:38:47 DIRECTOR. I WONDER IF HE MIGHT BE, I 23:38:49 DON'T KNOW, JUST DESTABILIZED. HE CLAIMS HE FOUND A CLOCK 23:38:58 THAT'S ALSO A RADIO. HAVE YOU HEARD THIS? 23:39:05 ( APPLAUSE ) HEY, IS WEDNESDAY. 23:39:07 WHAT DO YOU.... >> Paul: VERY GOOD. 23:39:13 >> Dave: JAMES CAMERON THINKS HE FOUND THE TOMB OF JESUS 23:39:16 CHRIST. WHO WOULD HAVE GUESSED THEY 23:39:19 FOUND JESUS BEFORE BIN LADEN? YOU KNOW WHAT I MEAN? 23:39:22 WHAT? ( APPLAUSE ) 23:39:24 LADIES AND GENTLEMEN, PAUL SHAFFER. 23:39:26 THANK YOU VERY MUCH. 23:39:43 PAUL SHAFFER, LADIES AND GENTLEMEN. 23:39:51 HERE TONIGHT WE HAVE SENATOR JOHN McCAIN FROM ARIZONA IS ON 23:39:53 THE PROGRAM THIS EVENING. ( APPLAUSE ) 23:40:02 PEOPLE SAY THAT HE MAY BE A CANDIDATE FOR PRESIDENT AND 23:40:04 MAY NOT BE A CANDIDATE FOR PRESIDENT. 23:40:05 EITHER WAY WE'RE LUCKY TO HAVE HIM AS A REPRESENTATIVE OF OUR 23:40:08 GREAT LAND AND A TREMENDOUS SERVICE TO OUR COUNTRY. 23:40:10 HE'LL BE HERE TONIGHT. WE'LL TRY TO SQUIRREL IT UP 23:40:14 AND SEE IF WE CAN'T GET HIM TO ADMIT HE'S GOING TO RUN FOR 23:40:17 PRESIDENT. GOING TO ADMIT FOR RUNNING... 23:40:18 ALL RIGHT, YOU GOT ME. I'M RUNNING FOR PRESIDENT. 23:40:21 I WAS TRYING TO KEEP IT A SECRET BUT YOU GOT ME. 23:40:24 >> Paul: THESE DAYS WHO WOULD ADMIT IT? 23:40:26 >> Dave: ALSO OUR FRIEND ANDY KINDLER IS ON THE PROGRAM. 23:40:31 VERY FUNNY GENTLEMAN. AND ROBIN THICKE. 23:40:40 THAT REALLY DOESN'T TELL US MUCH ABOUT THE GUY. 23:40:43 TURN IT AROUND. THERE YOU VE IT THERE. 23:40:45 >> Paul: THAT TELLS YOU A LOT OF WHAT YOU NEED TO KNOW. 23:40:50 RIGHT THERE. >> Dave: I JUST WANT TO WARN 23:40:52 TOURISTS AND ALSO LOCAL RESIDENTS AS WELL THERE'S A 23:40:54 CONSIDERABLE AMOUNT OF COUNTERFEIT MONEY IN 23:40:56 CIRCULATION. ARE YOU AWARE O THIS? 23:40:59 IT'S LIKE HALF A MILLION DOLLARS OF COUNTERFEIT MONEY 23:41:02 SO BE VERY, VERY CAREFUL BECAUSE SOMETIMES YOU GO INTO 23:41:04 A STORE AND YOU'LL MAKE A PURCHASE, YOU SEE, YOU GIVE 23:41:07 THEM YOUR MONEY AND IN RETURN YOU GET THE COUNTERFEIT MONEY. 23:41:10 YOU WON'T REALIZE THIS UNTIL YOU'RE BACK IN THE HOTEL ROOM 23:41:14 PAYING THE ESCORT LADY. HERE'S A COUPLE OF THINGS TO 23:41:33 LOOK FOR. THE ONE RIGHT THERE IT'S OUT 23:41:35 OF FOCUS. DOWN HERE SOME OF THE SHADING, 23:41:38 SEE HOW THAT KIND OF EVAPORATES? 23:41:40 ALSO THE REAL KEY IN THE MIDDLE, YEAH, IN THE MIDDLE IS 23:41:46 THAT'S NOT SUPPOSED TO BE THERE. 23:41:48 IF YOU HAVE ANY OF THESE... YOU KNOW, A LOT OF PEOPLE ARE 23:41:57 SAYING THAT FIDEL CASTRO IS MUCH BETTER. 23:41:59 REMEMBER WHEN HE WAS ILL AND EVERYBODY THOUGHT IT WAS 23:42:01 LIGHTS OUT FOR FIDEL? APPARENTLY HE'S DOING MUCH 23:42:04 MUCH BETTER. AND AS A MATTER OF FACT THE 23:42:05 PROVE TO HIS SUPPORTERS THAT HE'S DOING JUST FINE, HE 23:42:08 CALLED HUGO CHAVEZ, THE PRESIDENT OF VENEZUELA, WHO IS 23:42:11 HIS OWN SPECIAL KIND OF WHACK JOB HAS A RADIO SHOW AND TO 23:42:22 PROVE TO HIS LOYAL SUPPORTERS FIDEL CASTRO YESTERDAY CALLED 23:42:25 IN TO HUGO CHAVEZ'S RADIO SHOW. 23:42:27 WE HAVE A CLIP. HERE NOW IS FIDEL CASTRO 23:42:32 CALLING HUGO CHAVEZ. TAKE A LOOK LISTEN TO THIS. 23:42:39 >> HEY, HUGO, MY MAN IT'S FIDEL. 23:42:42 I CAN'T TALK LONG BECAUSE I HAVE TO GET A SPONGE BATH. 23:42:45 I WANT TO WISH YOU A HAPPY WHIP 'EM OUT WEDNESDAY. 23:42:53 AND PLAY MY HUMP MY HUMP, MY HUMP, MY HUMP 23:43:00 >> Dave: A LOT OF EFFORT WENT INTO THAT ANYWAY. 23:43:09 WE HAVE A BRAND NEW SEGMENT ON THIS PROGRAM. 23:43:11 THAT'S THE FIRST TIME I'VE DONE THAT. 23:43:13 IS THAT RIGHT? IT'S CALLED A MESSAGE FROM 23:43:15 FIRST LADY LAURA BUSH. A MESSAGE NOW FROM FIRST LADY 23:43:18 LAURA BUSH. TAKE A LOOK. 23:43:25 >> I UNDERSTAND HOW THE AMERICAN PEOPLE FEEL. 23:43:27 THE GEORGE IS REALLY REALLY A TERRIBLE PRESIDENT. 23:43:36 WOW. HE'S NOT RUNNING FOR 23:43:47 RE-ELECTION. I GUESS THAT'S THE KIND OF 23:43:48 THING SHE CAN SAY. BOY, IS MY FACE RED. 23:43:51 I DON'T KNOW WHY MY FACE IS RED. 23:43:53 IMMEDIATELY FOLLOWING THAT IT'S TIME FOR GREAT MOMENTS IN 23:43:55 PRESIDENTIAL SPEECHES. HERE, TAKE A LOOK AT THIS. 23:44:00 (HAIL TO THE CHIEF) >> THAT THE ONLY THING WE HAVE 23:44:04 TO FEAR IS FEAR ITSELF. >> ASK NOT WHAT YOUR COUNTRY 23:44:12 CAN DO FOR YOU. ASK WHAT YOU CAN DO FOR YOUR 23:44:15 COUNTRY. WHAT ARE YOU GOING TO DO? 23:44:37 SAY HELLO TO OUR GOOD FRIEND ANDY KINDLER. 23:44:41 COME ON OUT, ANDY. HOW HAVE YOU BEEN, MY FRIEND? 23:44:51 >> EVERYBODY IS GOOD. VERY EXCITED. 23:44:54 ALL MY STUFF IS SHOWING UP ON YOU-TUBE. 23:44:56 >> Dave: INDIVIDUAL... VIDEOTAPES HERE. 23:45:01 >> WHICH I'M SURE HAVE ALL BEEN CLEARED THROUGH LEGAL. 23:45:03 THEN ALSO LIKE PEOPLE WILL COME TO A CLUB, THIS GUY CAME 23:45:07 TO A CLUB. I GUESS HE FILMED ME AND PUT A 23:45:10 COUPLE OF MINUTES OF MY ACT. >> Dave: THAT'S GREAT. 23:45:12 >> THEN PEOPLE COMMENT ABOUT IT. 23:45:13 THEY'RE INSANE LIKE THIS ONE GUY COMMENTS GREAT QUALITY. 23:45:16 GREAT VIDEO QUALITY. LIKE I PLANNED FOR THE GUY TO 23:45:19 COME TO THE CLUB, LIKE... LET ME DO A THREE CELL PHONE 23:45:24 CAMERA SHOOT. I'VE GOT THE LIGHTS. 23:45:26 LET ME BRING IN PEOPLE I DON'T KNOW. 23:45:28 THEN SOMEONE ELSE WRITES IN, DON'T QUIT YOUR DAY JOB, THEY 23:45:31 SAY. STAND-UP IS MY DAY JOB. 23:45:35 >> Dave: WHAT ARE THEY TALKING ABOUT? 23:45:37 >> THANK YOU VERY MUCH I WANT SAY TO THAT PERSON. 23:45:39 I WILL CONTINUE DOING IT. >> Dave: DID YOU HAPPEN TO SEE 23:45:42 THE ACADEMY AWARDS. >> VERY, VERY DISAPPOINTING. 23:45:45 MY FAVORITE MOVIE OF THE YEAR GOT SHUT OUT. 23:45:48 >> Dave: WHAT WAS THAT? >> LITTLE MAN. 23:45:52 FIRST OF ALL DO YOU THINK THERE'S A MOVIE IDEA TERRIBLE 23:45:54 ENOUGH THAT EVEN THE WAYNES BROTHERS WOULDN'T TURN IT INTO 23:45:58 A MOVIE. YOUR PRINTER COULD BREAK. 23:46:00 YOU COULD SEND 150 BLANK PAGES OVER TO THEM BY MISTAKE AND 23:46:03 CALL THEM UP AND APOLOGIZE. THEY WOULD SAY WE LOVE IT. 23:46:09 A LOT OF ROOM FOR IMPROV. LITTLE MAN. 23:46:14 THERE'S A FACE PROJECTED ON A LITTLE PERSON FOR LIKE FOUR 23:46:17 HOURS LONG AND YOU SEE IT ON DVD WITH A COMMENTARY TRACK. 23:46:21 MY IDEA WOULD BE BIG BABY. THIS IS A BABY FACE THAT 23:46:24 PROJECTED ON A TALL PERSON. THE HOME MOVIE THEY WALK UP TO 23:46:29 YOU AND CAN I HELP YOU, SIR? (CRYING) TO THE RESTAURANT, 23:46:36 CAN I TAKE YOUR ORDER? (CRYING) THEN IF THAT WORKS 23:46:41 OUT. >> Dave: WHY WOULDN'T IT? 23:46:42 >> THEN I GOT MARLIN WAYNE'S FACE PROJECTED ON A DOZEN 23:46:48 EGGS. THE REFRIGEROR JUST GOT 23:46:51 FUNNY. IT'S A KITCHEN FULL OF LAUGHS 23:46:53 WHEN MARVIN WAYNE PLAYS A DOZEN HILARIOUS EGGS. 23:46:59 >> Dave: NOW, LISTEN IN THE PAST ANDY YOU'VE BEEN TO U.S. 23:47:03 MARSHAL'S TRAINING ACADEMY IN GEORGIA. 23:47:05 YOU'VE BEEN TO THE PLAYBOY CLUB IN LAS VEGAS. 23:47:07 >> THAT WAS A HARD JOB FOR ME. GET YOUR MIND OUT OF THE 23:47:13 GUTTER. >> Dave: SPACE CAMP IN 23:47:15 HUNTSVILLE ALABAMA. YOU WERE AT A RODEO IN SISTERS 23:47:18 OREGON. WENT ON UNCLAIMED BAGGAGE 23:47:20 CENTER IN ALABAMA. >> FOR MY OWN LUGGAGE. 23:47:22 >> Dave: SUPER BOWL IN FEBRUARY 2006. 23:47:24 >> REMEMBER THAT. >> Dave: TELL THE FOLKS WHAT 23:47:27 EAR GOING TO LOOK AT TONIGHT. >> WE WENT AROUND MANHATTAN TO 23:47:30 HARASS SIDE KICKS AND PALM READERS AND ASTROLOGERS. 23:47:34 >> Dave: QUITE A BIG BUSINESS IN NEW YORK CITY. 23:47:36 >> THEY'RE ALL OVER THE PLACE. MIND READERS AND PEOPLE READ 23:47:39 MINDS AS WELL. WE BASICALLY TRY TO BOTHER 23:47:42 THEM AS MUCH AS POSSIBLE AND ANNOY THEM. 23:47:45 >> Dave: HERE IS ANDY KINDLER VISITING NEW YORK CITY PSYCHE 23:47:48 ICKES. TAKE A LOOK. 23:47:49 >> TELL ME WHAT YOU DO, ANNA. >> ALL RIGHT. 23:47:52 I AM A TAROT CARD READER. I'D LIKE YOU TO CUT THE CARDS 23:47:58 IN THREE PILES. >> THERE YOU GO. 23:48:02 >> ALL RIGHT. NOW WHY DON'T YOU PUT THE 23:48:07 CARDS BACK ANYWAY LIKE. >> IF YOU HAD WANTED ME TO DO 23:48:09 THAT, I WOULDN'T HAVE CUT THEM IN THREE PARTS. 23:48:12 IF WE'RE JUST GOING TO PUT IT BACK TOGETHER. 23:48:15 IF I SAID THE WORD BE-DAZZLER TO YOU. 23:48:18 WOULD THAT RG A BELL AT ALL? >> NOT REALLY. 23:48:29 >> ARE YOU ABLE TO CONTACT THE DEAD? 23:48:32 >> YES, I AM. >> CAN WE TRY AND CONTACT JIM 23:48:35 NEIGHBORS. >> WHO IS THAT? 23:48:36 >> HE'S A FAMOUS SINGER. LET'S SEE IF WE CAN. 23:48:41 MAYBE HE KNOWS WHO GOMER PYLE IS. 23:48:46 >> HE SEEMS TO BE VERY CONTENT WITH THE WAY HIS LIFE IS YOU 23:48:51 HAVE A SPIRITUAL CONNECTION WITH YOU. 23:48:53 >> THAT'S TRUE. I CAN'T LIE ABOUT THAT. 23:48:58 >> YOU KNOW, THEY SAY ASTROLOGY IS THE CLOCK OF 23:49:03 DESTY. >> I HAVE A POSTER THAT SAYS 23:49:05 THAT. >> I GOT IT FROM THAT. 23:49:08 >> I THOUGHT IT WAS ORIGINAL. >> I'M HERE WITH ROGER. 23:49:14 ROGER, YOU ARE A MALE WITCH. IS THAT CORRECT? 23:49:16 >> I AM, YES. >> WHY IS WARLOCK SO OUT OF 23:49:19 FAVOR? WHEN SOMEONE IS TORTURED FOR 23:49:22 BEING A WITCH AS THEY USED TO DO ALL THE TIME, WOMEN'S 23:49:26 BODIES ARE MADE TO WITHSTAND MORE PAIN. 23:49:28 MEN'S BODIES USUALLY CAN'T TAKE AS MUCH PAIN. 23:49:33 SO THERE WAS A COVEN IF THERE WAS A COVENITH THE OTHER 23:49:38 WITCHES DO. >> DO YOU EVER WISH YOU HADN'T 23:49:43 ASKED A QUESTION SOMETIMES OR MAYBE YOU WOULDN'T BRING UP A 23:49:46 TOPIC? >> IF YOU READ COFFEE LATE AT 23:49:51 NIGHT DO YOU FIND IT'S HARD TO GET TO SLEEP. 23:49:53 >> NO. >> DO YOU EVER FIND THAT 23:49:55 YOU'RE CRANKY IN THE MORNING BEFORE YOU GIVE YOUR FIRST CUP 23:49:58 OF COFFEE READING? >> NO, ACTUALLY I DO WAKE UP 23:50:01 VERY HAPPY. >> IN THE SUMMER DO YOU READ 23:50:03 ICE COFFEE AT ALL? WILL YOU LAUGH AT ONE OF MY 23:50:08 JOKES GIVE ME A CHUCKLE? SHE HAS THE AMAZING ABILITY TO 23:50:12 MAKE PREDICTIONS FROM WHAT'S LEFT IN THE BOTTOM OF A COFFEE 23:50:15 CUP. WOULD YOU SAY WHAT YOU DO IS 23:50:19 MORE BULL (BEEP NCHL (OR HORSE (BEEP). 23:50:24 DURING MY READING WITH ANAH, THE UNTHINKABLE HAPPENED. 23:50:27 I WAS DEALT THE DREADED DEATH CARD. 23:50:31 IF I DIE, YOU ARE LIBEL. I CAME IN HERE AND I WAS 23:50:36 REALLY FINE. I FELT GOOD. 23:50:38 I GET A DEATH CARD. ALL OF A SUDDEN IT'S A 23:50:41 SUGGESTION LIKE A HYPNOSIS. >> I DON'T SEE.... 23:50:43 >> I HOPE YOU HAVE TAROT INSURANCE. 23:50:48 I'M SURE YOU'RE VERY FAMILIAR WITH LOVE OILS. 23:50:50 I MAKE A LOVE OILS. WHICH I JUST HAPPEN TO HAVE ON 23:50:53 . I'VE BEEN MAKING THIS LOVE OIL 23:50:55 SINCE I WAS 12 YEARS OLD. >> WHEN YOU USE ROGER'S LOVE 23:51:10 OIL, YOU'LL FEEL THAT TINGLE IN YOUR PANTS THAT MAKES YOU 23:51:13 THAT IT'S WORKING. CAN YOU PREDICT HOW THIS 23:51:18 COMEDY PIECE WILL END? WILL I GET A HUGE LAUGH? 23:51:32 >> NO. >> Dave: VERY NICE, ANDY. 23:51:44 WAIT A MINUTE. MARCH 9 ANDY KINDLER WILL BE 23:51:50 HOSTING LIVE AT GOTHAM FOR COMEDY CENTRAL. 23:51:52 >> SOUS GOOD. >> Dave: LOOKING FORWARD TO 23:51:53 THAT. THANK YOU VERY MUCH, ANDY 23:51:57 KINDLER, LADIES AND GENTLEMEN. WE'LL BE RIGHT BACK WITH 23:51:59 SENATOR JO McCAIN, EVERYBODY. 23:52:03 SPEND LESS TIME LYING AWAKE... 23:52:06 WITH ANNOYING ACHES AND PAINS... 23:52:08 AND MORE TIME ASLEEP... WHEN YOU SWITCH 23:52:10 FROM TYLENOL PM... TO ADVIL PM. 23:52:14 ADVIL PM. LESS TIME LYING AWAKE. 23:52:16 MORE TIME ASLEEP. I'M FIGHTING A COLD... 23:52:20 BUT I'VE GOT MY FIRST FIGHT TODAY. 23:52:23 I WANT ADVIL COLD & SINUS. WITH THE POWER OF ADVIL... 23:52:27 PLUS A HARD-HITTING DECONGESTANT. 23:52:28 THAT'S THE POWER OF ADVIL COLD & SINUS. 23:52:31 NOW AVAILABLE AT YOUR PHARMACY COUNTER. 23:52:33 TRUCK GUYS WILL TELL YOU TAKING OFF FROM A DEAD STOP 23:52:35 WITH 10,000 LBS AIN'T NO PICNIC. 23:52:41 SO THIS HALF-TON'S GOT THE MOST TORQUE, 23:52:44 A SIX-SPEED TRANNY WITH TOW/HAUL MODE... 23:52:49 AND FOUR OVERSIZED DISC BRAKES. 23:52:52 BECAUSE STOPPING 10,000 LBS... 23:52:54 tires squeal ) AIN'T NO PICNIC EITHER. 23:52:58 AVAILABLE ON THE ALL NEW FULL-SIZE TUNDRA-- 23:53:01 THE TRUCK THAT'S CHANGING IT ALL. 23:55:28 HERE'S TONIGHT'S TOP TEN, LADIES AND GENTLEMEN. 23:55:41 YESTERDAY THE STOCK MARKET'S WORST DAY IN FIVE-AND-A-HALF 23:55:43 YEARS. THE DOW JONES INDUSTRIAL 23:55:46 AVERAGE DROPPED 416 POINTS COSTING INVESTORS $600 23:55:51 BILLION! OUCH! 23:55:53 >> Paul: I GOT THAT ON ME. >> Dave: THE CATEGORY TONIGHT 23:55:59 TOP TEN SIGNS YOU HAVE A BAD STOCKBROKER. 23:56:01 KIND OF THING YOU WANT TO BE MINDFUL WHEN YOU LOSE $600 23:56:05 BILLION. >> Paul: I WOULD SAY. 23:56:15 WHAT DOES THAT MEAN? THAT MEANS NOTHING. 23:56:37 WAIT A MINUTE. THEN HIS PANTS GO DOWN. 23:56:39 THEN HIS PANTS GO DOWN. INEXPLICABLY HIS PANTS GO 23:56:43 DOWN. WHO'SOT A BAD STOCKBROKER? 23:57:30 >> Dave: OUR FIRST GUEST IS A 23:57:35 DECORATED WAR HERO, A BEST SELLING AUTHOR AND YOUR 23:57:37 SENATOR FROM... SENIOR SENATOR FROM THE GREAT STATE OF 23:57:41 ARIZONA. LADIES AND GENTLEMEN, SENATOR 23:57:42 JOHN McCAIN. JOHN, COME ON OUT. 23:57:44 ( APPLAUSE ) GOOD TO SEE YOU, JOHN. 23:58:02 >> GLAD TO SEE YOU, DAVE. >> Dave: YOU HAVEN'T BEEN HERE 23:58:04 IN SIX MONTHS, EIGHT MONTHS, A YEAR, SOMETHING LIKE THAT. 23:58:07 >> SEEMS LIKE FOREVER. >> Dave: BLESS YOUR HEART. 23:58:10 YOU HAD A BIRTHDAY. >> Paul: SENATOR, NICE TO SEE 23:58:12 YOU, SIR. >> NICE TO SEE YOU, SIR. 23:58:15 >> Dave: HE HAD A BIRDAY. >> TRAGICALLY. 23:58:17 >> Dave: NO, NO, NO. IT WAS A LANDMARK. 23:58:19 ONE OF THE BIG BIRTHDAYS. >> YEP, I'M OLDER THAN DIRT. 23:58:22 I'VE GOT MORE SCARS THAN FRANKENSTEIN. 23:58:25 I'VE SEEN A FEW THINGS. >> Dave: YOUR BIRTHDAY WAS.... 23:58:28 >> AUGUST 29. >> Dave: 70 YEARS OLD. 23:58:30 >> SHHH. DO WE HAVE TO TALK ABOUT IT. 23:58:33 >> Dave: SORRY ABOUT THAT. HOW DID YOU COMMEMORATE THAT 23:58:36 DAY? WHAT DID YOU DO? 23:58:37 >> CRIED. ACTUALLY, I SLEPT LIKE A BABY. 23:58:42 SLEEP TWO HOURS, WAKE UP AND CRY. 23:58:44 SLEEP TWO HOURS, WAKE UP AND CRY. 23:58:51 >> Dave: YOU COULD DO A LITTLE WORK ON THE TOP TEN. 23:58:57 >> I GUESS YOU'VE BEEN WONDERING WHAT WE'RE DOING IN 23:58:59 THE UNITED STATES SENATE. >> Dave: NO, I WANT TO KNOW 23:59:01 WHAT YOU DID ON YOUR BIRTHDAY. >> I TRIED NOT TO THINK ABOUT 23:59:05 IT. >> Dave: DO YOU HAVE ANY 23:59:06 SPECIAL ACTIVITIES? DID YOU GO ANY PLACE? 23:59:08 >> NO. JUST TIME WITH MY WIFE CINDY 23:59:10 AND ACCEPT CALLS OF CONDOLENCES FROM ALL OVER. 23:59:17 AND A FEW, YOU KNOW, ARE YOU STILL AROUND? 23:59:20 >> Dave: WELL, GOOD. YOU KNOW WHAT? 23:59:22 I THINK WE'LL JUST CHANGE THE SUBJECT HERE THEN. 23:59:26 HOW ARE THINGS IN THE SENATE THESE DAYS, SENATOR? 23:59:31 >> Paul: WHY DIDN'T I THINK OF THAT. 23:59:33 ( APPLAUSE ) >> Dave: BEFORE WE GET TO THAT, 23:59:36 WHAT ABOUT THIS? HERE'S WHAT WE REALLY WANT IS 23:59:39 PRESIDENTIAL CAMPAIGN GOSSIP AND DIRT AND BACK STABBING AND 23:59:42 THE DEMOCRATS NOW ARE IN A POSITION WRE THEY COULD COME 23:59:45 IN AND REALLY MAKE HAY. ALL OF A SUDDEN YOU HAVE A 23:59:49 LIKABLE YOUNG NEWCOMER, BARACK OBAMA AND YOU HAVE HILLARY 23:59:52 CLINTON. >> VERY ATTRACTIVE YOUNG 23:59:56 WOMAN. >> Dave: SUDDENLY THERE'S A 23:59:58 FEUD BECAUSE THE BIG MONEY FROM HOLLYWOOD HAS SEEMED TO 00:00:01 HAVE SHIFTED FROM HILLARY TO BARACK OBAMA. 00:00:04 WHAT DO YOU KNOW ABOUT THAT AND WHAT CAN YOUELL US ABOUT 00:00:06 THAT? >> I'VE NEVER HAD TO WORRY TOO 00:00:07 MUCH ABOUT THAT MYSELF. IT SEEMS THAT ACCORDING TO 00:00:14 SOME REPORTS THAT SOME PEOPLE THAT USED TO BE FRIENDS OF THE 00:00:18 FORMER PRESIDENT AND SENATOR CLINTON ARE NO LONGER THEIR 00:00:22 FRIENDS TO SAY THE LEAST. >> Dave: WHY IS THAT? 00:00:24 BECAUSE THEY FEEL THAT THERE'S A CERTAIN ENCUMBRANCE WITH THE 00:00:28 CLINTON NAME. AND THAT BARACK OBAMA DOES NOT 00:00:31 HAVE TO SUFFER. >> WELL, WE'VE HAD EITHER... 00:00:35 SERIOUSLY WE HAVE HAD A BUSH OR A CLINTON IN THE PRESIDENCY 00:00:38 OR VICE PRESIDENCY SINCE, I BELIEVE, 1988. 00:00:40 THAT'S A LONG TIME. PEOPLE START THINKING ABOUT 00:00:44 DYNASTIES. WE'VE NEVER HAD A GOOD SCOTCH- 00:01:02 >> Dave: AS A POSSIBLE CANDIDATE. 00:01:04 QUITE A FEW PEOPLE ARE ANNOUNCING AND SOME ARE 00:01:08 ANNOUNCED AND DROPPED OUT. >> THE LAST TIME WE WERE ON 00:01:12 THIS PROGRAM, I'M SURE YOU REMEMBER EVERYTHING VERY 00:01:14 CLEARLY. >> Dave: YES. 00:01:15 >> AS WE SAY. BUT YOU ASKED ME IF I WOULD 00:01:17 COME BACK ON THIS SHOW IF I WAS GOING TO ANNOUNCE. 00:01:20 >> Dave: YES. >> I AM ANNOUNCE THAT I WILL 00:01:22 BE A CDIDATE FOR PRESIDENT OF THE UNITED STATES. 00:01:25 >> Dave: OH, WOW. ( CHEERS AND APPLAUSE ) 00:01:31 GOOD FOR YOU. WOW. 00:01:47 A VERY POPULAR ANNOUNCEMENT. >> CAN WE TRY THAT AGAIN 00:01:52 (SINGING "HAIL TO THE CHIEF") HAIL TO THE CHIEF 00:02:00 >> Dave: HOW ABOUT THAT? >> GOOD JOB. 00:02:02 >> Dave: NOW, FIRST OF ALL, CONGRATULATIONS AND WHAT WERE 00:02:06 THE FACTORS LEADING TO THIS DECISION? 00:02:09 >> I THINK TO BE ON THIS SHOW WAS THE FIRST REASON. 00:02:15 >> Dave: WELL, GOOD. ( APPLAUSE ) 00:02:22 SO YOUR PRIORITIES ARE IN THE RIGHT SPOT. 00:02:24 >> YOU CAN'T DO THESE THINGS WITHOUT MONEY. 00:02:26 I WILL TAKE THAT COUNTERFEIT MONEY THAT YOU HAD EARLIER. 00:02:31 >> Dave: WE'VE GOT A SHOEBOX FULL OF THAT. 00:02:35 LET'S TALK ABOUT SOME OF THE OTHER REPUBLICANS IN THE 00:02:38 FIELD. WHAT ABOUT RUDY GIULIANI? 00:02:40 HE'S IN, RIGHT? ALTHOUGH IT DOESN'T SEEM TO 00:02:43 HAVE BEEN AS DEFINITIVE AS WHAT YOU JUST SAID. 00:02:45 HE'S IN. >> BY THE WAY I'LL BE MAKING A 00:02:48 FORMAL ANNOUNCEMENT IN APRIL. >> Dave: THIS IS NOT THE 00:02:50 FORMAL ANNOUNCEMENT. >> THIS IS THE ANNOUNCEMENT. 00:02:52 YOU DRAG THIS OUT AS LONG AS YOU CAN. 00:02:55 YOU DON'T JUST HAVE ONE RENDITION. 00:02:57 >> Dave: YOU'RE SAYING THIS WAS NOT THE FORMAL 00:03:00 ANNOUNCEMENT. >> THIS IS THE ANNOUNCEMENT 00:03:02 PRECEDING THE FORMAL ANNOUNCEMENT. 00:03:03 >> Dave: HOW DO YOU THINK THAT MAKES ME FEEL? 00:03:05 >> YOU WERE FIRST. >> Paul: HE'S DOING THE FORMAL 00:03:10 ANNOUNCEMENT ON LENO. >> Dave: YEAH, WHAT ABOUT 00:03:16 THAT? THANKS, PAUL. 00:03:25 NICE GOING. I APPRECIATE IT. 00:03:28 >> YOU LIKE YOUR JOP ANYWAY, SO.... 00:03:33 >> Dave: LET'S RUN DOWN THE FIELD. 00:03:34 WE WERE TALKING ABOUT FORMER MAYOR GIULIANI. 00:03:38 >> AN AMERICAN HERO. >> Dave: HOW DO YOU FEEL ABOUT 00:03:41 RUNNING FOR THE NOMINATION AGAINST THAT MAN. 00:03:42 >> I THINK HE'S GOING TO BE A VERY FORMIDABLE CANNED 00:03:46 CANDIDATE. I THINK HE RALLIED THE NATION 00:03:49 AFTER 9/11. I THINK THE AUDIENCE WOULD 00:03:50 AGREE WITH THAT. I THINK HE'S AN AMERICAN HERO. 00:03:52 >> Dave: ABSOLUTELY. EVEN WITH A SUBSTANTIAL 00:03:59 OPPONENT LIKE THAT, YOU STILL LIKE YOUR CHANCES OBVIOUSLY. 00:04:01 >> YES. >> Dave: AND DO WE EVER SEE.... 00:04:07 >> AFTER THAT DESCRIPTION OF HIM I'M NOT SO SURE. 00:04:10 MAYBE I SHOULD RETRACT MY ANNOUNCEMENT. 00:04:13 >> Dave: AND WHAT ABOUT THE POSSIBILITY PRESIDENT AND THE 00:04:16 VICE PRESIDENT THAT KIND OF THING. 00:04:17 DO YOU DIVIDE THAT SORT OF DEAL UP? 00:04:19 YOU'RE NOT INTERESTED IN SPLITTING THAT. 00:04:21 >> YOU MAY REMEMBER IN THE LAST ELECTION THERE WAS SOME 00:04:24 CONVERSATION ABOUT ME BEING VICE PRESIDENT OF THE UNITED 00:04:26 STATES. IT WASN'T CLEAR WHICH PARTY. 00:04:30 AND I WAS ON ONE OF THE SHOWS AND THE GUY SAID, "WHAT'S THIS 00:04:33 ABOUT YOU BEING VICE PRESIDENT OF THE UNITED STATES?" 00:04:35 I SAID I SPENT ALL THESE YEARS IN A NORTH VIETNAMESERISON 00:04:40 CAMP, KEPT IN THE DARK, FED SCRAPS, WHY THE HECK WOULD I 00:04:43 WANT TO DO THAT ALL OVER AGAIN? 00:04:47 >> Dave: THAT'S EXACTLY RIGHT. WE'LL BE RIGHT BACK WITH 00:04:50 SENATOR JOHN McCAIN. DODGE RAM -- 00:04:57 IT'S GOT A LEGENDARY HEMI V8... WITH 345 HORSEPOWER, 00:05:02 AN ALL-NEW, 6.7-LITER CUMMINS TURBO DIESEL... 00:05:05 WITH 650-POUND FEET OF TORQUE, OVER 5,000 POUNDS 00:05:07 PAYLOAD AVAILABLE... OR UP TO 00:05:09 16,900 POUNDS OF TOWING. DODGE RAM -- 00:05:12 THE LONGEST-LASTING, MOST DURABLE LINE 00:05:13 OF FULL-SIZE PICKUPS. NOW, GET UP TO $5,000 00:05:16 CASH ALLOWANCE ON RAM 1500. DISCOVER AMERICA'S HOTTEST 00:05:20 PRODUCTS AT YOUR DODGE DEALER. >> Dave: SENATOR JOHN McCAIN. 00:07:52 LET'S TALK ABOUT THE SITUATION IN IRAQ. 00:07:54 WE HAVEN'T CHATTID WITH YOU SINCE THE PRESIDENTIAL POLICY, 00:07:57 THE TROOP SURGE. I UNDERSTAND, I BELIEVE, THAT 00:08:01 YOU'RE IN FAVOR OF THAT PURSUIT. 00:08:02 IS THAT CORRECT? >> I THINK IT'S REALLY OUR 00:08:05 LAST CHANCE TO SALVAGE A VERY DIFFICULT WAR WHICH HAS BEEN 00:08:09 BADLY MISMANAGED AND WE'VE GOT A VERY GOO GENERAL OVER THERE, 00:08:13 A GUY NAMED GENERAL PETRAEUS. >> Dave: THIS IS A GUY YOU'VE 00:08:19 KNOWN THROUGHOUT YOUR CAREER IN THE SENATE. 00:08:21 >> NO, BUT I'VE KNOWN HIM WELL ENOUGH TO KNOW HE'S REALLY AN 00:08:24 OUTSTANDING GENERAL. GENERALSLONE DON'T DO IT BUT 00:08:28 HE DOES. I THINK WE CAN HOPEFULLY BRING 00:08:31 ABOUT A PERIOD OF STABILITY SO THAT YOU CAN HAVE ECONOMIC AND 00:08:35 POLITICAL DEVELOPMENT AND STOP THIS TERRIBLE BLOODLETTING 00:08:39 WHICH IS, AS YOU KNOW, SECTARIAN VIOLENCE, TRIBLE 00:08:44 THINGS ARE HAPPENING. SHOWING A LITTLE PROGRESS. 00:08:46 LET'S HOPE AND PRAY THAT IT WORKS. 00:08:48 >> Dave: HOW WILL WE KNOW? >> I BELIEVE THAT IT CAN. 00:08:51 >> Dave: WHAT WILL BE THE SIGNS THAT WILL INDICATE THAT 00:08:53 IS WORKING, THAT THERE IS STABILITY AND ECONOMIC 00:08:55 PROGRESS? WHAT WILL BE THOSE INDICATORS? 00:08:57 ARE WE TALKING ABOUT A CEASE-FIRE THROUGHOUT THE 00:08:59 ENTIRE COUNTRY AND THEN ANOTHER SIX MONTHS, ANOTHER 00:09:02 YEAR, ANOTHER TWO YEARS? WHAT? 00:09:03 >> I THINK FIRST YOU'D HAVE TO HAVE A VERY VIABLE GOVERNMENT 00:09:09 THERE, THE MALIKI GOVERNMENT HAS TO HAVE REVENUE SHARING. 00:09:13 THEY HAVE TO HAVE ELECTIONS IN THE PROVINCES. 00:09:16 THERE HAS TO BE A STRONG IRAQI MILITARY TO TAKE OVER OUR 00:09:20 RESPONSIBILITIES. REMEMBER, DAVE, IT'S NOT 00:09:23 AMERICAN PRESENCE THAT BOTHERS AMERICANS. 00:09:27 IT'S AMERICANS CASUALTIES. WE'VE HAD TROOPS IN SOUTH 00:09:31 KOREA FOR 50 YEARS. NOBODY MINDS. 00:09:32 IF WE CAN GET THE IRAQIS MORE CAPABLE OF CARRYING THE BURDEN, 00:09:37 OURS TO WITHDRAW, THEN I THINK WE CAN SET UP AN ENVIRONMENT 00:09:40 WHERE POSSIBLY THESE PEOPLE CAN HAVE A CHANCE. 00:09:44 BUT IT'S A VERY TOUGH THING. YOU SAW EARLIER ABOUT THE 00:09:49 IRANIANS SENDING IN STUFF AND THE LEVEL OF VIOLENCE HIGHER. 00:09:54 BUT THE ONE THING WE ALL AGREE ON IS THE YOUNG MEN AND WOMEN 00:09:58 WHO ARE SERVING ARE MARVELOUS. ( APPLAUSE ) 00:10:10 IN THE SENATE I WAS GOING TO TELL YOU WE SPENT TWO WEEKS 00:10:13 DEBATING A MOTION THAT WAS A VOTE TO CUT OFF DEBATE, TO 00:10:20 MOVE TO A MOTION TO CUT OFF DEBATE SO WE COULD VOTE ON A 00:10:24 MEANINGLESS RESOLUTION. THAT WAS YOUR TAX DOLLARS AT 00:10:27 WORK. >> Dave: THANK YOU. 00:10:28 NICE JOB. >> TWO WEEKS, JUST TWO WEEKS 00:10:32 WE SPENT ON THAT. WHEN YOU SAY TWO WEEKS, THAT'S 00:10:35 TUESDAY THROUGH THURSDAY. >> Dave: OKAY. 00:10:39 SO THE COUNTRY OF IRAQ IS STABILIZED. 00:10:42 THE GOVERNMENT, AS YOU DESCRIBED, IS VIABLE. 00:10:46 THE VIOLENCE IS NOW SIGNIFICANTLY REDUCED. 00:10:48 >> YES. >> Dave: THE NET BENEFIT TO 00:10:50 THE UNITED STATES BEYOND AMERICANS HAVE STOPPED LOSING 00:10:54 THEIR LIVES THERE IS WHAT? >> PROBABLY THAT WE HAVE A 00:11:01 FUNCTIONING DEMOCRACY OR A GOVERNMENT THAT WILL BECOME A 00:11:05 DEMOCRACY, THAT THERE WILL BE OIL REVENUES WHICH WILL THEN 00:11:09 BE USED BY THE IRAQIS TO BUILD UP THEIR OWN COUNTRY AND THAT 00:11:14 MAYBE IT WILL SPREAD IN THE REON. 00:11:16 YOU KNOW, THE ONLY REALLY ONLY TWO DEMOCRACIES, ONE IS ISRAEL 00:11:20 AND THE OTHER IS TURKEY, IN THE WHOLE REGION. 00:11:24 OBVIOUSLY WE'D LIKE TO SEE THAT. 00:11:26 I THINK KNOW WHAT YOU'R GETTING AT. 00:11:28 THAT IS SHOULD WE HAVE GONE IN IN THE FIRST PLACE? 00:11:32 THERE WAS MASSIVE INTELLIGENCE FAILURES AND BOOKS HAVE BEEN 00:11:35 WRITTEN ABOUT THE MISMANAGEMENT OF THE WAR AND I 00:11:38 WOULD RECOMMEND FIASCO OR COBRA 2 OR ONE OF THESE OTHER 00:11:43 BOOKS BUT WE ARE WHERE WE ARE NOW. 00:11:45 WE ARE WHERE WE ARE NOW. RATHER THAN REVIEW ALL THE 00:11:47 PROBLEMS WHAD, IF WE WITHDRAW EARLY WHICH EVERY 00:11:50 EXPERT I KNOW SAYS IT WILL DESCEND INTO CHAOS, SECTARIAN 00:11:54 VIOLENCE AND EVEN GENOCIDE, SO THAT'S WHY WHEN I SAY THIS MAY 00:11:58 BE OUR LAST CHANCE TO SUCCEED BECAUSE AMERICANS ARE VERY 00:12:02 FRUSTRATED AND THEY HAVE EVERY RIGHT TO BE. 00:12:03 WE'VE WASTED A LOT OF OUR MOST ECIOUS TREASURE WHICH IS 00:12:07 AMERICAN LIVES OVER THERE. >> Dave: AND NOW THERE'S A 00:12:10 DISCUSSION ABOUT, THE INDICATION, PROOF, THAT SOME 00:12:14 OF THESE EXPLOSIVE DEVICES ARE COMING IN AND BEING SET OFF 00:12:17 WITH THE HELP OF IRANIANS AND MORE AND MORE THAT THEY'RE 00:12:21 INSINUATING THEMSELVES INTO THAT CONFLICT. 00:12:24 >> VERY LETHAL. >> Dave: AND ARE WE NOW TO 00:12:26 BELIEVE THAT GROUND WORK IS BEING LAID THERE FOR SOME KIND 00:12:29 OF INCURSION? >> NO, I DON'T THINK ACCEPT 00:12:33 THAT. I THINK IT'S TERRIBLE THAT THE 00:12:37 IRANIANS ARE DOING THIS. WE'VE ALSO GOT ANOTHER PROBLEM 00:12:39 WITH THE IRANIANS AND THAT IS THAT THEY'RE BUILDING NUCLEAR 00:12:43 WEAPONS AS YOU KNOW. THE LATEST INSPECTOR OVER 00:12:46 THERE SAYS THEY ARE NOT STOPPING IT. 00:12:48 WE HAVE TO GET SANCTIONS AND WE'VE GOT TO GET OUR ALLIES TO 00:12:51 JOIN US IN TRYING TO PUT EVERY KIND OF PRESSURE ON THE 00:12:54 IRANIAN GOVERNMENT TO STOP THAT. 00:12:57 SUPPOSE YOU'RE THE PRIME MINISTER OF ISRAEL AND YOUR 00:12:59 INTELLIGEN COMES TO YOU AND SAYS THE IRANIANS HAVE A 00:13:02 NUCLEAR WEAPON. IT'S ON A MISSILE AIMED AT US 00:13:06 AND THEIR PRESIDENT HAS STATED TIME AFTER TIME THAT THEIR 00:13:08 GOAL IS THE EXTINCTION OF THE STATE OF ISRAEL. 00:13:10 THIS IS SERIOUS BUSINESS. AS A COUNTRY AND AS TWO 00:13:13 PARTIES, WE'VEOT TO SIT DOWN TOGETHER AND WORK OUT SOME OF 00:13:17 THESE STRATEGIES TOGETHER IN A BIPARTISAN FASHION. 00:13:20 YOU KNOW, POLITICAL PARTIES DON'T LOSE WARS. 00:13:26 PRESIDENTS DON'T LOSE WARS. NATIONS LOSE WARS. 00:13:29 WHEN NATIONS LOSE WARS, NATIONS SUFFER FROM IT. 00:13:32 SO WE'VE GOT TOO MUCH OF THIS PARTISANSHIP, I THINK WE 00:13:36 SHOULD SIT DOWN AS GROWN-UPS AND TRY TO ADDRESS THIS 00:13:39 PROBLEM WITH IRAN TODAY. >> Dave: AND YOU BELIEVE THAT 00:13:42 WHAT YOU JUST DESCRIBED WITH THE PARTIES YOU DESCRIBED IS 00:13:46 LIKELY? IS POSSIBLE? 00:13:47 >> OH, I THINK SO. I CAN PROMISE YOU IF I'M 00:13:50 PRESIDENT OF THE UNITED STATES I WILL REACH OUT MY HAND TO 00:13:52 THE DEMOCRATS ACROSS THE AISLE AND SAY, WE WILL WORK 00:13:56 TOGETHER. WE WILL WORK TOGETHER BECAUSE 00:13:58 THIS IS THE GREATEST NATION IN THE WORLD AND OUR BEST DAYS 00:14:01 ARE AHEAD OF US. BUT WE HAVE TO SHOW A COMMON 00:14:03 FRONT TO THREATS FROM COUNTRIES LIKE IRAN. 00:14:07 >> Dave: I MEAN, YOU DESCRIBE IT IN THOSE TERMS. 00:14:10 IF OUR BEST DAYS ARE AHEAD OF US-- AND WHAT A WONDERFUL 00:14:13 NOTION THAT IS-- IT'S GOING TO TAKE AN AWFUL LOT OF WORK JUST 00:14:16 TO GET BACK TO THE BREAK-EVEN POINT. 00:14:18 DON'T YOU THINK? >> WE HAVE PROBLEMS EVERYWHERE 00:14:21 IN THE WORLD. WE'RE STILL THE MOST POWERFUL, 00:14:24 THE MOST INNOVATIVE, THE FINEST GENERATION OF YOUNG 00:14:31 THE FINEST YOUNG AMERICANS TODAY. 00:14:33 THEY'RE VOLUNTEERING EVERYWHERE. 00:14:34 THEY ARE WORKING IN THEIR COMMUNITIES. 00:14:36 THEY'RE JOINING THE MILITARY, THE PEACE CPS, AMERICORPS. 00:14:39 I HAVE GREAT FAITH IN THIS GENERATION. 00:14:42 YOUNG AMERICANS. >> Dave: I WANT TO ADD 00:14:44 SOMETHING THAT TOM BROKAW SAID ON THIS SHOW MONTHS AND MONTHS 00:14:48 AGO. EVERYBODY FEELS TS WAY OR 00:14:49 SHOULD FEEL THIS WAY. IT'S ABSOLUTELY A 00:14:52 UNIVERSALITY. YOU CAN HATE THE WAR BUT YOU 00:14:54 CAN'T HATE THE WARRIORS. THAT'S JUST EXACTLY WHAT WE'VE 00:14:56 GOT HERE. ( APPLAUSE ) 00:15:05 >> I KNOW THAT WE'RE RUNNING OUT OF TIME. 00:15:08 A COUPLE WEEKS AGO, ABOUT THREE WEEKS AGO I WAS DOWN IN 00:15:10 SAN ANTONIO AT THE BROOK ARMY HOSPITAL. 00:15:12 THEY OPENED A REHAB CENTER THAT HAD BEEN PAID FOR BY 00:15:15 DONATIONS BY AMERICANS. 600,000 AMERICANS HAVE PAID 00:15:18 FOR THIS $50 MILLION FACILITY. WE ALL SAT DOWN, THERE WERE 00:15:22 4,000 PEOPLE THERE. SENATOR CLINTON AND I WERE 00:15:24 THERE TOGETHER. THEY SAID LET'S WELCOME OUR 00:15:28 HEROES AND THESE YOUNG PEOPLE CAME OUT WITH THEIR... ON 00:15:31 CRUTCHES AND IN WHEELCHAIRS. SOME BADLY BURNED. 00:15:34 AND EVERY ONE OF THEM WAS BRAVE AND PROUD AND WONDERFUL. 00:15:38 SO WHEN YOU TALK ABOUT POLITICAL AMBITIONS AND OTHER 00:15:41 THINGS IN OUR LIVES, IT PALES IN SIGNIFICANCE AS TO WHAT 00:15:46 THESE BRAVE YOUNG AMERICANS HAVE DONE. 00:15:47 >> Dave: WITHOUT QUESTION. WELL, LITS GOOD TO SEE YOU 00:15:51 AGAIN. HAPPY BELATED BIRTHDAY AND 00:15:54 CONGRATULATIONS ONOUR CAMPAIGN FOR THE PRESIDENCY. 00:15:55 >> THANK YOU, SIR. >> Dave: MY PLEASURE. 00:15:59 SENATOR JOHN McCAIN. WE'LL BE RIGHT BACK, LADIES 00:16:02 AND GENTLEMEN. [TEEN TURNS ON ROCK MUSIC] 00:16:35 IT SAYS HERE THAT STRESS... [TURNS OFF RADIO] 00:16:37 CAN WEAK OUR IMMUNE SYSTEM. 00:16:40 AND ABOUT 70% OF OUR IMMUNE SYSTEM 00:16:42 IS IN OUR DIGESTIVE TRACT. RIGHT! APPARENTLY 00:16:44 A CULTURE CALLED L. CASEI 00:16:45 IMMUNITAS CAN HELP. IT IS CLINICALLY 00:16:47 PROVEN TO HELP STRENGTHEN YOUR BODY'S 00:16:49 DEFENSE SYSTEM. ONLY DANACTIVE HAS 00:16:51 L. CASEI IMMUNITAS. WE SHOULD TRY 00:16:54 THIS DANACTIVE! Announcer: NEW DANACTIVE... 00:17:04 BEHOLD... THE POWER OF PHANTOM. 00:17:06 GILLETTE FUSION POWER PHANTOM. 00:17:09 FUSION POW IS SO ADNCED, 00:17:11 YOU BARELY FEEL THE BLADES. 00:17:13 SHAVING CAN CREATE UNCOMFORTABLE FRICTION. 00:17:15 TURN ON FUSION POWER. SOOTHING MICROPULSES 00:17:17 HELP YOU REDUCE FRICTION... AND INCREASE RAZOR GLIDE. 00:17:20 YOU'LL BARELY FEEL THE BLADES, 00:17:22 YOU'LL REALLY FEEL THE DIFFERENCE. 00:17:24 THE COMFORT OF FIVE BLADES... 00:17:26 PLUS THE PRECISION OF ONE. FUSION POWER PHANTOM. 00:17:30 GILLETTE. THE BEST A MAN CAN GET. 00:19:45 ( (8 00:20:00 >> Dave: THANK YOU VERY MUCH. GOOD POINT THERE ON SENATOR 00:20:03 McCAIN. WE'LL KEEP OUR EYE ON HIM. 00:20:06 FIND OUT WHERE HE MAKES THE OFFICIAL ANNOUNCEMENT. 00:20:08 >> Paul: EXACTLY. THE OFFICIAL ANNOUNCEMENT. 00:20:10 >> Dave: BOY, WE'LL JUST WAIT ON THAT ONE. 00:20:13 >> Paul: THAT'S ALL WE CAN DO. >> Dave: GIVE HIM A GOOD 00:20:17 TALKING TO. >> Paul: THAT'S ALL WE CAN DO. 00:20:18 >> Dave: HERE'S SOMETHING I WAS LOOKING THROUGH ONE OF MY 00:20:21 PERIODICALS THE OTHER DAY. PRINCE CHARLES, WHO IS THE 00:20:24 PRINCE OF.... >> Paul: HE'S THE PRINCE OF 00:20:32 WALES. >> Dave: I KNEW THAT. 00:20:34 HE WAS SHOOTING HIS MOUTH OFF ABOUT MacDONALD'S. 00:20:37 HE SAID McDONALD'S SHOULD BE OUTLAWED. 00:20:40 IT SHOULD BE OUTLAWED. THAT'S WHAT THE PRINCE OF 00:20:42 WALES SAID. AND I THINK THAT WE HAVE A 00:20:46 PICTURE OF HIM (LAUGHING). THERE HE IS RIGHT THERE. 00:20:51 YEARS AGO. SEE? 00:20:53 HERE, TAKE A LOOK AT HIM AFTER HE WENT TO McDONALD'S. 00:21:01 >> THAT'S THE JOKE? >> IS THAT THE JOKE? 00:21:04 ARE YOU STILL DOING JOKES ABOUT PRINCE CHARLES'S EARS? 00:21:08 COME ON. IS THAT THE JOKE? 00:21:10 ARE YOU STILL DOING JOKES' PRINCE CHARLES'S EARS. 00:21:14 >> Dave: WE JUST DID IT. IT WAS HILARIOUS. 00:21:16 >> THIS IS 2007. NOT 1984. 00:21:19 WAIT A MINUTE. IF IT IS 1984, I SURE AS HELL 00:21:22 WANT TO HEAR SOME CINDY LAUPER. 00:21:25 HIT IT, PAUL. >> Dave: NO, NO, NO. 00:21:31 THE PHONE RINGS IN THE MIDDLE OF THE NIGHT 00:21:35 MY FATHER ASKS WHAT YOU GOING TO DO WITH YOUR LIFE 00:21:39 OH, DADDY, DEAR, YOU KNOW YOU'RE STILL NUMBER ONE 00:21:43 BUT GIRLS JUST WANT TO HAVE FUN 00:21:45 YEAH, GIRLS JUST WANT TO HAVE FUN 00:21:49 THEY JUST WANT TO... THEY JUST WANNA... 00:21:56 GIRLS JUST WANNA HAVE FUN YEAH! 00:22:04 ( CHEERS AND APPLAUSE >> Dave: NICE GOING. 00:22:07 THANKS. DOES THAT MAKE YOU SICK TOO? 00:22:11 DID IT MAKE YOU FEEL A LITTLE SICK? 00:22:14 >> Paul: QUEASY. >> Dave: WE'LL BE RIGHT BACK 00:22:16 WITH ROBIN THICKE, EVERYBODY. (FEMALE ANNOUNCER) 00:22:51 IMPROVE THE HEALTH OF YOUR SKIN 00:22:53 WITH AVEENO DAILY MOISTURIZING LOTION. 00:22:54 THE NATURAL OATMEAL FORMULA GOES BEYOND 24 HOUR MOISTURE 00:22:57 TO IMPROVE SKIN'S HEALTH IN ONE DAY 00:22:59 WITH SIGNIFICANT IMPROVEMENT IN TWO WEEKS. 00:23:01 I FOUND A MOISTURIZER FOR LIFE. (ANNOUNCER) 00:23:03 ONLY FROM AVEENO. >> DON'T GO AWAY BECAUSE 00:25:23 THERE'S MORE WKRP IN CINCINATTI COMING UP RIGHT 00:25:27 AFTER THESE MESSAGES. I HAVE SLAYED THE DRAGON, 00:25:34 AND COME FOR MY REWARD. WELL DONE. THIS IS FOR YOU. 00:25:40 THIS IS ALL I GET ? TERMS AND CONDITIONS STATE 00:25:41 THAT YOU MUST SLAY A MINIMUM OF FOUR DRAGONS BEFORE 00:25:43 CASH IS EARNED. TAIL MUST ALSO BE PROVIDED TO 00:25:45 PROVE THAT IT IS A DRAGON... NOT JUST A LARGE LIZARD... 00:25:48 IS THIS HOW YOUR CASH REWARDS CARD TREATS YOU ? 00:25:50 INTRODUCING NO HASSLE CASH REWARDS. 00:25:52 EARN CASH ON EVERY PURCHASE, EVERYWHERE. 00:25:54 PLUS A 25% ANNUAL BONUS. OH, YOU QUALIFY TO 00:25:55 MARRY MY DAUGHTER. [ SFX: HORSE ] 00:26:00 WHAT'S IN YOUR WALLET ? HAIL TO ST. ARVIN 00:26:08 MAN, I'M SO HUNGRY I COULD EAT A HORSE. 00:26:10 SHH, YOU'RE SO INSENSITIVE. HERE. 00:26:19 NEED FOOD NOW ? MAKE EASY MAC CUPS. 00:26:22 WARM, CHEESY KRAFT MAC AND CHEESE. 00:26:24 WHEN HUNGER HITS... QUICK, MIC SOME MAC. 00:26:27 WELL, PRETEND IT'S NOT HERE. THAT'S WHAT I DO. 00:26:29 Y'KNOW WHAT I MEAN ? THIS IS MY ACCOUNTING SYSTEM. 00:26:34 UNPAID INVOICES ARE ON THE PURPLE ONES. 00:26:35 IT'S STILL EVOLVING. OUR SALES FIGURES-- 00:26:37 THEY'RE ALL RIGHT HERE. I DESIGN MY OWSPREADSHEETS. 00:26:44 Announcer: THERE'S AN EASIER WAY QUICKBOOKS. 00:26:47 IT'S SO SIMPLE, YOU CAN BE UP AND RUNNING 00:26:49 IN UNDER 15 MINUTES. WITH JUST A W CLICKS, 00:26:50 YOU CAN WRITE CHECKS, SEND INVOICES, 00:26:54 SEE WHO'S PAID AND WHO HASN'T, AND MAKE TAX TIME A CINCH. 00:26:58 THIS IS SO MUCH SIMPLER. I'M AFRAID 00:27:04 IT'S MORE THAN A, UM... SPRING FLING. 00:27:08 HERE THEY ARE BEHIND THE COUCH... 00:27:09 ON THE BOOKCASE... RIGHT IN FRONT 00:27:11 OF THE WINDOW. I THINK IT'S OVER. 00:27:17 (FEMALE ANNOUNCER) THERE'S A BETTER WAY 00:27:19 TO REDUCE SPRINGTIME ALLERGENS. 00:27:20 SWIFFER DUSTERS. IT HAS THOUSANDS 00:27:22 OF DUST-LOCKING FIBERS TO TRAP AND LOCK 00:27:24 SPRINGTIME ALLERGENS THAT OLD DUSTERS 00:27:26 STIR BACK IN THE AIR. IT'S THE CLEANER 00:27:28 SPRING CLEANER. SAME TIME TOMORROW? 00:27:31 (ANNOUNCER) SWIFFER GIVES A WHOLE NEW MEANING. 00:27:34 IF YOU'RE A HEALTH NUT ABOUT YOUR SKIN, THIS IS A NATURAL. 00:27:37 LUBRIDERM SKIN NOURISHING LOTION... 00:27:39 WITH NATURAL SHEA NUT AND COCOA BUTTERS. 00:27:41 IT HELPS DRY SKIN DRAW IN AND RETAIN MOISTURE... 00:27:44 SO IT'S NATURALLY HEALTHY. LUBRIDERM 00:27:45 SKIN NOURISHING LOTION... WITH SHEA AND 00:27:47 COCOA BUTTERS. SAM FINDS BRUSHING BORING. 00:27:50 MY SECRET WEAPON... HOO-HOOO, LISTERINE 00:27:51 AGENT COOL BLUE. IT KILLS BAD BREATH GERMS 00:27:55 AND TURNS PLAQUE BLUE; SO HE CAN BRUSH 00:27:58 MORE EFFECTIVELY. SAM, NICE WORK. 00:28:01 LISTERE AGENT COOL BLUE FOR KIDS. 00:28:42 DODGE RAM -- THE LONGEST-LASTING, 00:28:44 MOST DURABLE LINE OF FULL-SIZE PICKUPS. 00:28:46 ( crash ) ( crash ) 00:28:49 ( crash ) NOW GET UP TO $5,000 00:28:51 CASH ALLOWANCE... ON DODGE RAM 1500. 00:28:55 DISCOVER AMERICA'S HOTTEST PRODUCTS AT YOUR DODGE DEALER. 00:29:12 >> Dave: ALL RIGHTY THEN. OUR NEXT GUEST IS A TALENTED 00:29:16 SIPGER SONGWRITER WHOSE CURRENT K DR. -- I HAVE A COPY 00:29:19 OF IT RIGHT HERE-- IS ENTITLED THE ELUTION OF ROBIN THICKE. 00:29:24 LADIES AND GENTLEMEN, HERE HE IS, ROBIN THICKE. 00:29:37 >> OH BABY I'M LOST WITHOUT YOU 00:29:50 CAN'T HELP MYSELF HOW DOES IT FEEL 00:29:56 TO KNOW THAT I LOVE YOU BABY TELL ME HOW YOU LOVE ME MORE 00:30:04 AND HOW YOU THINK I'M SEXY, BABY THAT YOU DON'T WANT NOBODY 00:30:06 ELSE YOU DON'T WANT THIS GUY 00:30:09 YOU DON'T WANT THAT GUY YOU WANNA 00:30:13 TOUCH YOURSELF WHEN YOU SEE ME TELL ME H YOU LOVE MY BODY 00:30:17 AND HOW I MAKE YOU FEEL, BABY YOU WANNA ROLL WITH ME 00:30:21 YOU WANNA HOLD WITH ME YOU WANNA STAY WARM 00:30:23 AND GET OUT OF THE COLD WITH ME 00:30:26 I JUST LOVE TO HEAR YOU SAY IT IT MAKES A MAN FEEL GOOD, BABY 00:30:31 TELL ME YOU DEPEND ON ME I NEED TO HEAR IT 00:30:34 I'M LOST WITHOUT YOU CAN'T HELP MYSELF 00:30:40 HOW DOES IT FEEL TO KNOW THAT I LOVE YOU, BABY 00:30:46 I'M LOST WITHOUT YOU CAN'T HELP MYSELF 00:30:51 HOW DOES IT FEEL TO KNOW THAT I LOVE YOU, BABY 00:31:00 BABY, YOU'RE THE PERFECT SHAPE BABY, YOU'RE THE PERFECT WEIGHT 00:31:05 TREAT ME LIKE MY BIRTHDAY I WANT IT THIS WAY 00:31:08 I WANT IT THAT WAY I WANT IT 00:31:11 TELL ME YOU DON'T WANT ME TO STOP 00:31:13 TELL ME IT WOULD BREAK YOUR HEART 00:31:16 THAT YOU LOVE ME AND ALL MY DIRTY 00:31:19 YOU WANNA ROLL WITH ME YOU WANNA HOLD WITH ME 00:31:31 I JUST LOVE TO HEAR YOU SAY IT MAKES A MAN FEEL GOOD 00:31:33 BABY I'M LOST WITHOUT YOU 00:31:36 CAN'T HELP MYSELF HOW DOES IT FEEL 00:31:40 TO KNOW THAT I LOVE YOU, BABY I'M LOST WITHOUT YOU 00:31:45 CAN'T HELP MYSELF HOW DOES IT FEEL 00:31:50 TO KNOW THAT I LOVE YOU, BABY 'CAUSE YOU WILL TELL ME 00:32:00 EVERY MORNING OH YEAH 00:32:17 OH BABY I'M LOST WITHOUT YOU 00:32:23 CAN'T HELP MYSELF HOW DOES IT FEEL 00:32:28 TO KNOW THAT I LOVE YOU, BABY. CAN'T HELP MYSELF 00:32:38 HOW DOES IT FEEL TO KNOW THAT I LOVYOU, BABY 00:32:46 LOST WITHOUT YOU LOST WITHOUT YOU 00:32:48 LOST WITHOUT YOU LOST WITHOUT YOU 00:32:52 LOST WITHOUT YOU OH 00:33:07 >> Dave: THANK YOU VERY MUCH. GOOD TO HAVE YOU. 00:33:08 HOW IS YOUR FATHER DOING? GOOD, TELL HIM I SAID HELLO. 00:33:13 ROBIN THICKE, EVERYBODY. WE'LL BE RIGHT BACK.