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Risky. he says advance lime forms who contact us may be "looking to conquer" and compares it to what happened to native americans after columbus arrived in the new world and what are the odds of that happening? scientists use the drake equation to calculate the number of other intelligent civ civilizations in the galaxy. about 10,000 of them. if aliens were to decide to make contact for obvious reasons, we'll have our fingers crossed that we're dealing with et. what ceo lloyd blankfein will stay on testimony tomorrow on capitol hill in defense of his company's actions and tackling the tools ...

Joining us now, commissioner, pleasure to see you. i won't debate the merit of these instruments. it's clear i can create smoothing and price volatility reduction for agriculture, for energy, why is it that those types of derivatives and we'll start with that first class has to be traded in secret? >> it's good to be back with you. we need to bring broad reform. i think that's what the senate will do this week to as you say bring sunshine to this dark market. we need the transparency to bring all of the standard products to trading venues. that's what chairman lincoln and chairman dodd have pu...

I sell them the derivatives. the whole thing melts. aig has insurance on it under your law how is it different. not your law but this proposal how would that be different? >> as a federal regulator, i hope you allow me not to comment on that case the s.e.c. brought. >> i'm looking so everyone understands. >> i'll put it in context of aig. aig, this big insurance company, did not have effective federal regulation. we're saying under the new law next day aig would have to have capital and margin as a cushion against risk and secondly, there's something called clearing houses that will cut the in...

Very serious way. they need to make a lot less money. >> forget displeasing the republicans, what about displeasing barney frank who doesn't have an end to too big to fail in the reform to this day and has more liberal derivatives regulations than the senate bill. >> i think we got stomped on with derivatives. that's the weakest part of the bill. i would have supported much tougher regulation of derivatives. if they can get that out of the senate, i'll fight like hell in the house to get it through there. >> where does representative frank stand on too big to fail. >> i think that representati...

Speculation in the capital markets from those activities that the lending portion of banking does not pay the kind of money that it did in recent years let alone prior to existence of technology. how much fight do you expect from banks who are desperate to keep one of the last remaining parts of profit they have which has been derivatives trading? >> they have a fiduciary duty. they want higher profits. our role in washington is to lower the cost to the american people and shine light on these markets. so wall street and main street have different issues. yes, i think there's still going to be...