Two giant wordage finance firms played a role in writing that mortgages written in the housing boom are creations of congress in the Capital Requirement for this institution and oversight of those institutions was sent as it was for the banks. Guest i saw the elements of this in so many different facets of what i was covering. I covered the federal reserve, it was clear to me from covering the fed that the publickest make of that constitution that is changed in the last few years. When i look at morning market and stock market, why look at the rangeling that goes on between republicans and the white house, i mean, its clear theres common demon nateers here. I want to understand more about them and more about what was happening. I should say i got a lot of response to the story, and i get the sense from what viewers are saying too, i mean, people i think theres starting to recognize theres a problem. I talked to a few companies that see this as a fundamental problem with business and trying to address it. Ill give you one example, its kind of a frivolous one. Its worth mentioning. Dominos pizza ha a campaign a couple of years ago where they basically db the whole Advertising Campaign was built around acknowledge to the public that the pizza stunk. And they decided to redesign their pizza and, you know, approve it and make it tastier and improve the ingredients. They built the Marketing Campaign around acknowledging that the pizza they used to be selling wasnt up to the standards that they wanted to have. I talked to the senior people at come come dominoes and they said we want to rebuild trust with and they saw a broader trust problem. People responded positively and dominoes had a good run. Im seeing this with other companies talking about and thinking about how do we build trust. How do we rebuild trust with our workers, you know, this also when you look at the trust surveys that are done, theres ban big break down in trust towards big corporations and in particular and top managers at big corporations. And so, you know, youre starting to see some discussions at some of these big corporations like dominoes about the recognition of a problem and, you know, strategies for trying to rebuild that. Host in pennsylvania, gerald, republican line. Caller good morning. I have a quick comment and a question. First of all, he said he would rather face a Standing Army than have a central bank. I dont trust anything the government says and the numbers they put up. I think the stock market is totally irrational because of the low growth. And i have a quick question. My sister almost two years ago bought a house through a big bank. We excellent Credit Rating and good financial background. Before we made our second payment we had a letter that the loan had been turned over to freddie mac. Now i dont understand that. Ive never gotten a good ebbing play nation explanation as to why they it would on the back of the taxpayers its going to be a good loan. Doesnt make sense to me. Guest well, ill make two points. One on the loan and one on thomas jefferson. So on the loan, this is the way the mortgage system works. The banks write the mortgages and the vast majority of them are handed over to fannie and freddie mac. They have tended not to hold them on their own balance sheets. Fannie mae and freddie mac have a competitive advantage they are backed by the United States government. They can borrow at the lower rate than the typical bank, and its the way our Mortgage Finance system has been constructed over the years host can i get you to respond to the latest numbers as far as jobs are going. Bureau of labor staingts for january the rate goes to 7. 9 157,000 jobs added. Guest right. Host what do you say . Guest what i see is in an economy that isnt growing fast enough to produce many jobs. The Unemployment Rate was 7. 8 in december, and, you know, it had looked like it was moving down and now we see that it pops up. And the reason for that is 157,000 jobs created in an economy with 140 million workers is not a lot. Its not enough to keep up with growth in the labor force, so, you know, this is a fundamental problem in our economy. You might argue the fundamental problem in our economy right now is that were not growing fast enough to bring the Unemployment Rate down to levels that most americans would find acceptable. And we can have a loan discussion about long discussion about why were not growing fast enough. You know, you could argue that the economy needs more investment, that the government should be providing more stimulus. You could argue the government is getting in the way. You can also argue that its a res due of the financial crisis. Host the number of employed persons was little changed in january. The number of longterm unem employed unchanged to 4. 7 million and the number of persons employed part time for economic reasons add about 8 billion changed little in january. Guest right. Yeah. Our economy is stuck, you know, and most recovery you would see an economy growing three or 4 in the first few years after the recovery, and we grew 2. 2 last year, which wasnt much were the than the year before and worse than two years before that. There a lot of reasons for that. One of the reasons is all the debt taken on in the housing boom. Basically at the end of the day, when you borrow money that is a claim on future income, a lot of claims on future income right now that are coming back to pay right now. It goes back to what the 18yearold caller was asking about some time ago about the economy build on debt. You need debt to Fund Investment and fund growth. Theres certainly important uses of debt to build for the future. But what happened during the boom housing boom was people were taking out debt not to invest but just to build a bigger play room. And thats one of the factors that is holding us back right now. Host well going charles. This is in new york. Democrats line. Caller hi. Im glad you talked the unemployment numbers. I work with the Labor Department for years, and, you know, its not taking in to consideration the fact that most of these jobs new jobs create certainly low paying jobs and secondly, theres a tremendous amount of not included the Unemployment Rate. Certainly not receiving theyre not including people on public assistance. So its not a fair barometer of really what the numbers are that people unemployed. In terms of the degree of trust posed a time ago he went true a lit any of thicks not to trust. But the key piece he mentioned at the send nobody has gone to jail. And until somebody goes to jail, the general population will not believe that its a fair system of justice and its justice people want. They want truth and justice. And [inaudible] i read the the wall street journal sometimes the people who tread on a daily basis. A lot of times dont really care about trust. Okay. They want to basically say here, maybe i can get by with the latest system works. Host okay. Well leave it there. Can you talk about what it means for the Peoples Trust in the government do something about the numbers. Guest its one of the points i talked about a little bit in the story. After the Great Depression you saw fdr create the new institutions, the security and exchange commission, they were meant to oversee the securities market, and to put a backstop behind banks and, you know, it was one of the factors that helped to rebuild trust in the Financial System and in the Banking System and in the economy. But, you know, one of the problems that we have right now is that because people dont trust the government, the government hasnt been terribly effective solution to the aftermath of the financial crisis. You know, theres some people who argue the government should have done a bigger fiscal stimulus. A lot of people have serious doubts about whether that would have done any good. With got a good one but people argue we should have been getting more. Theres the forces that held back a more aggressive response by the government and, you know, a lot of people would argue its too much. Host the 157,000 jobs created in jan. John, thank you for your time this morning. Next on cspan2 a look at the economy and u. S. Domestic workers. Later the National Black caucus of state legislators hold the annual conference with a focus on constitutional bias and i are racism. He wrote that the most Important Office in a democracy is the office of citizens. Democracy, of course, is rooted and based in the notion of an enlightened citizen. Some of us think democracy is defined by the ritual of volting voting of course voting is important in a democracy. But voting takes place all over the world. It takes place in democracies, it takes place in dictatorships, it takes place in tow toll yaren societies. Voting alone does not mean that we live in a free society. It takes that enlightenedment many to action causing those whom we would elect. To honor our ideas as a nation. Author, activists and transafrican founder taking your calls, emails, Facebook Comments and tweets indepth three hours live this sunday at noon eastern. On booktv, on cspan2. John mccains 2000 campaign when he ran for president is the most memorable campaign. I mean, any ever covered and been around. It was just well never see it again. Here he was, you know, facing george w. Bush who had all the courage of the Republican Party backing him and the three republican government in New Hampshire and all the money and john mccain held 114 town meetings and stayed there until every question was answered and you sigh the light. Bulb going on saying when are we going get it right and john mccain say were not going to get a patience bill of rights sloption my company is owned by the insurance companies. Next question. It was just, you know, and it was refreshing candor. You see it in peoples responses. And he was totally open to the press. I mean, it was a candor and openness and sort of a welcome pes. I mean, that no one had seen before and no one certainly seen since. On the career in politics and the Washington Press corp. Sunday night at 8 00 on cspan q a. Now a look at the economy and u. S. Domestic workers. Well hear remarks from individuals who employed in homes to care for children, the elderly or disabled. Held by the aspen institute. Its an hour and twenty minutes. [inaudible conversations] [inaudible conversations] good afternoon, everyone. I dont think its on either. [inaudible] [inaudible] its on now . Great. Good afternoon, everyone thank you for joining us. Im marine conway. Im delighted to welcome you to todays event. Home economics, a discussion about the unregulatedded world of Domestic Work. This is the fifth employment sector we are discussing in the series. Ideas that can work for employers, employees, and the economy. And im very grateful to the charles for their generous support of the discussions here. Today in america about one in five working adults are in jobs that can recent belie characteristickized as low wage. If say that were able to work full time for a year they would not earn enough money to lift the family of four above the poverty line. Over the past few years as we come out of the recession, we have seen that relatively more of the jobs have been created than sort of mid wake or high wage jobs. More over, when you look at projection from the bureau of labor statistics which about occupations are most likely to create the most jobs. The low wage jobs are projected to create the most jobs. The challenge of low wage work is a significant challenge that we need think about how to address. Is to improve their jobs process through training and helping workers get the skills they need to get in to better jobs. And certainly providing skill building and training opportunities to the very important things that we should be doing more of for everybody who needs and wants additional skills. But as i spend time and i have spent quite a bit time talking with people who run Training Programs in a variety of place i a cross the country. Over the past few years, i hear more and more that quite a lot more people who are in need of skills and better jobs and who are coming to then than the Job Opportunities they can see in their economy that will actually support a family for which they should Design Training and help people get in to. The numbers werent working for them. You have a good program and make it larger. They said i cant find more jobs. So not really any point of making it larger. So this is sort of the con numb drum that lead us having conversations and think about what are oh ideas throughout for improving the quality of jobs. So i didnt know what the answer was. Thats why people like this come and talk with us about what might be done. In some of our previous discussions, we have looked at restaurant and food industry, residential construction, home health and longterm care, retail training, those conversations we set up we would sort of a three or four page summary of, you know, sort of information about the industry what our Industry Trends how many workers in the industry and what do they look like and what kinds of skills and experience they have. We talk about doing that if this one too. Theres very, very Little Information about Domestic Workers. If you go to the bureau of labor statistics website and put in Domestic Workers. Mostly what you get is a link to foot works saying they are excluded from the data set. Theyre not included in payroll employment. Theyre not included in insurance records, unemployment records, and its a very private Employment Relationship and theres not much information about them. The second reason is that we have great report from the National Domestic workers lines and the colleagues and i could hardly do better than that. So and i really recommended to you, they surveyed over 2,000 Domestic Workers. It has lot of great information it about the wages and working conditions and what the work of Domestic Work is really like today in america. So in lieu of a few facts and figures about the industry we thought we would set the stage instead by having you hear from a Domestic Worker about how she thinks about her work. And so i will ask my colleague to go ahead and show you a brief film about four minutes from a Domestic Worker. Came to the u. S. [inaudible] three years ago and im taking care of the elderly and kids for the past nineteen years. I started in barbados when i was teenager and then [inaudible] very early, as a matter of fact and especially if your parents were not the kind of parents to push you in to education but to [inaudible] follow one miff dear and closest a pediatrician. The day they met him, he was sitting in his den and i asked him if he could walk and he said yes. I said, as of today, youll being have your meals in the dinning room. I started the process of bringing him overt shell that he was slowly putting himself in to. Watching tv and seeing the violence and things that were happening. He was scared another time. [inaudible] one end from the patio and the other. There comes a time. And i kept on doing that until i got him in to the wheelchair. And soon after that, he started going to [inaudible] and stuff like that. Ic being a part of each others life not wanting to make him feel better. Also prolonged his life for six and a half years. To me [inaudible] [inaudible] [inaudible] he said youre no fly in the milk. I mean, it made me feel welcome. They did. I was taking care of like a human being. Had a great influence in doing my ged because he always said to me, you are better than some of the doctors that i worked with. Because of your bedside manner. When i finally got my ged. I was 35. 53 youre never too old to learn. I got my cpa through Domestic Workers united. [inaudible] to get certification is very important. Especially when you go on a new job. It also helps because it tells you [inaudible] we learn pediatric how to take care of new baby. We learn nutrition and taking care of kids and stuff like that. You learn negotiation. You learn how to carry yourself your presentation is very important. Im proud of being able to draw people out that im taking care of. And i can get that person to smile. Im happy. And it make my day. And i hope that this piece would also not only tell employers that Domestic Workers are hiewbs too, and we need respect and also telling Domestic Workers to respect thairses. When you respect yourself, respect [inaudible] [inaudible] okay. That was a really nice clip. I want to thank the Caring Across Generations Campaign for that. Theres others on the website. What i particularly like about that story well have a lot of conversation and you can read about some of the challenges Domestic Workers face. I particularly like that story presents how can be very positive experience as a Domestic Workers and theres a positive for this work. Thats what i love about the panelists today. They recognize the challenges they also hold the positive vision of what is possible. So let me quickly introduce them so you can have a conversation. I do want to make a couple of quick announcement. One, we will be doing q a following the panel. Please wait, were recording and please wait for the microphone and introduce yourself. We are tweeting and the hash tag Domestic Worker ai. Keep your phones on sigh lint. Okay. Now i can introduce our panel. You h