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The way that the soviet union appealed to people in the 1930s. it is a strangely exact parallel. >> originally -- >> that's the point. >> we'll talk more about tom frank's new book and the backlash that happened in the wake of the crisis. why do we have aflac... aflac... and major medical? major medical, boyyyy! [ beatboxing ] ♪ i help pay the doctor ♪ ain't that enough for you? ♪ there are things major medical doesn't do. aflac! pays cash so we don't have to fret. [ together ] ♪ something families should get ♪ ♪ like a safety net ♪ even helps pay deductibles, so cover your back,...

They do improve efficiency. there's also the argument the private equity guys will tell you they revolutionized management across the land because mitt romney came in and taught people about how to look at a cost curve and project cash flow and do all sorts of analysis that had been cordoned away in the ivy league -- this is a huge knowledge transfer into the boardrooms of america. if that was the case, why -- why don't these deals work out? incentives misaligned? intentions of people running the private equity firms? what's the problem? >> i think the main problem is when you buy a company an...

bank, their equivalent of ben bernanke gave a speech had morning and they said their economic growth is slowing, and traders took it as a note to say things are more serious than we thought. you combine that with the fact that the japanese central bank intervened to prop the yen up, and there's a fear that everybody is doing badly and nobody is there to pick up the slack. basically is that what is happening. money is coming out of the stocks. when you see that happening, it comes out of commodities or gold. people are taking their money out of the stock market and gold, and oil, and ...

Nasdaq off just a fraction. the core point is not so much what the numbers are showing, items he what the people here are telling you. because the people here were the ones who lived through it in many cases. they were the ones who were just blocked away when the world trade centers came down and here there is a quiet satisfaction in the killing of bin laden. there's not the rah-rah. here they saw colleagues and in some cases family. so what they're feeling today is a feeling of job done, justice done, rather than shouting from the tree tops. >> absolutely. and richard, request do you think we...

Teach in georgetown write a paper about declining coverage of all of the wars that we have still involved in. in terms of libya, first of all, i think only a middle evil scholastic can discover an obama doctrine. he's anti-doctrine. that's his basic principle. i like the speech. if there was muddle in it, it wasn't muddle in thinking but in muddle in the situation in libya. i think he made the core point on humanitarian intervention. just because you can't act everywhere doesn't mean you can't act anywhere. i thought it was said well this morning in "the new york times." isn't it better to inc...