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you in your future conversations. thank you and i forward to a very interesting first panel. [applause] >> mary, i think you should sit on the left here from the audience. seems to be an appropriate place to be. marty, here. sorry. i put you in the wrong seat. >> that's ok. >> welcome of this first panel. something of tax reform has been on the agenda in washington pretty much for as long as i've been following u.s. policy which i hate is going on for two decades. the complexity of the u.s. tax code is a distortion, how again and again brought calls for reform. there's been debates o...

anger voters. hacking case left the pond. rebekah brooks has resigned in the wake of the growing phone-hacking scandal. this is the fbi as it looks look allegations that murdoch's employees tried to hack into the cell phones of 9/11 victims back here in the states. we have got all of that "early" this friday morning, july 15th, 2011. captioning funded by cbs good morning. it is a beautiful start to the friday, july 15th, here in new york. good morning to everybody. out there. i'm chris wragge. >> a fine way to kick off your weekend. nice to have you with us. i'm erica hill. was...

are regations, there are laws, there are rules and one could argue pretty powerful fashion i think that markets are far from perfect, b a lot of the regulatory aspects that were behind tse marketsere pretty bad as well. i see how the pendulum's swinging, let's call it to the left. charlie: that'the regulation. >> not too much but perhaps the wrong kind and many of the problems not being addressed many i'm not a believer in the minimalist state or any of that. >> charlie: we conclude with sugar ray leonard,he great boxing championship in a memoir called "the big fight. myife in and ou...

are a great failure. they forget that markets operate in an environment where there are regations, there are laws, there are rules and one could argue pretty powerful fashion i think that markets are far from perfect, b a lot of the regulatory aspects that were behind tse marketsere pretty bad as well. i see how the pendulum's swinging, let's call it to the left. charlie: that'the regulation. >> not too much but perhaps the wrong kind and many of the problems not being addressed many i'm not a believer in the minimalist state or any of that. >> charlie: we conclude with sugar ray leo...

are regations, there are laws, there are rules and one could argue pretty powerful fashion i think that markets are far from perfect, b a lot of the regulatory aspects that were behind tse marketsere pretty bad as well. i see how the pendulum's swinging, let's call it to the left. charlie: that'the regulation. >> not too much but perhaps the wrong kind and many of the problems not being addressed many i'm not a believer in the minimalist state or any of that. >> charlie: we conclude with sugar ray leonard,he great boxing championship in a memoir called "the big fight. myife in and ou...