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David wessel director of the center on the fiscal and Monetary Policy at brookings. Its very good to see so many people in person. David we havent done an event like this in a two and half years and i am hoping this is the beginning of more of them. One of the things about the pandemic is that you do things that you used to think were a hassle and now they seem like a luxury and that is the weight felt when i got a suit on and my closet that have not worn in three years. I am very pleased today that the host, michael barr, federal chair for the ash he has a very distinguished resume. Clerk to ...

Well, i think that compensation of football coaches is very high. And each university exists in a marketplace, unfortunately. Having a cap on football coaches salaries would be an interesting national discussion. But its not one i want to participate in. Why not . You sound reluctant. Explain that. I think that the question about capping any professions salary, whether its a coach, entertaining, ceo is a more complex discussion than we could take on this morning. But we do live in a marketplace. If youre trying to attract top tier coaches at any school, youre competing with those coaches for t...

Well, i think that compensation of football coaches is very high. And each university exists in a marketplace, unfortunately. Having a cap on football coaches salaries would be an interesting national discussion. But its not one i want to participate in. Why not . You sound reluctant. Explain that. I think that the question about capping any professions salary, whether its a coach, entertaining, ceo is a more complex discussion than we could take on this morning. But we do live in a marketplace. If youre trying to attract top tier coaches at any school, youre competing with those coaches for t...

Interest, but as i said earlier, at this point in time, it is not part of our current regulatory agenda. Were focused on the mandating rule makings. I appreciate that as someone who is here and has helped not only device doddfrank but also supported it. Ill just close on this comment. You know, i would hope that this is true across the spectrum, that all of you realize that while you may ultimately deal with significant corporations in this country, that at the end of the day, it is the public who we collectively seek to serve, and that is best served by transparency and openness and an opport...

Last two years. There you go. And speaking of a historic first, will the newlyapproved volcker rule hurt the large banks, or will it propel them forward . Lets go to Nicole Petallides on the floor of the New York Stock Exchange to see how financials are reacting. We knew that the rule was coming. Banks expecting it, but still, the question now is now what for these big names. Reporter now what. Thats absolutely right. And were seeing dow component today Goldman Sachs, for example, hitting a new 52week high. We watched jpmorgan at one point today, also a leader on the Dow Jones Industrials, you...