Stossel - 4/6/12 - No, They Can’t
Stossel explains why he feels free individuals can solve problems better than the government can
- Duration 40:06
- Date Oct 22, 2012
Stossel explains why he feels free individuals can solve problems better than the government can
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Politicians keep saying the.
Me -- this weekend.
Corn -- -- means government.
The fact is they came.
The politicians in -- think they can run our economy run our lives but now.
That's the title of my new book which explains that individual sixty.
But government spends huge amounts of normally -- trivial think it's trivial to you because you're arrogant.
Oh politicians can't deal liberals live -- fantasy like -- who thinks the TSA does agree job.
Government can't protect our money or educate kids.
The government just can't do it good out of our way and leave us alone next time -- politician says there.
We the people.
Politicians in their claim they create -- But now.
President Obama was -- job creator from day one.
We're gonna create millions of new jobs my job is to create jobs he keeps saying that but -- government create jobs.
Absolutely congressman Keith Ellison co chair of the congressional progressive caucus the public sector in the private sector.
Must be working together in order for the market to work properly.
Let it be nice if the wise men and women in Washington could make the market work properly.
John nobody can doubt that we have schools that are crumbling.
Parks need more attention.
My -- city of Minneapolis we celebrate fall into the Mississippi government but government doesn't have any money of its own he has to take money.
From the private sector.
To give to these projects you've got to take the money from somewhere congressman -- caucus claims he has a plan that will create 2.2 million jobs if government can create these two million jobs -- why not five million jobs ten million jobs why is so cheap.
There's needs to be some -- what we're trying to do you know the 2.2 million is the right balance of taken money from the private sector no one -- does know exactly the right answer.
I think this guy -- the right answer it's Mark Cuban owner of the NBA champion Dallas Mavericks.
How many jobs are you create a lot -- thousands thousands tens of thousands -- politicians take money in the private sector.
They take it from job creators like -- Governments just not very effective and very efficient at using money went Cuban was 24 he had no job himself and no prospects.
And you end up with billions of Africa.
And a -- life what more can I ask -- right.
In 1983 Cubans started a software company he grew it and sold it to Compuserve for million.
Then my partner at the time -- -- -- you know you're the geek who's gotta be a way to listen Indiana basketball over the Internet.
-- -- that's good idea so Cubans are -- another company.
But denies the -- -- in the second better my house I just worked without a government probe Mark Cuban again create some.
-- -- -- This is over.
It's either going to be we're idiots in this worth absolutely not been -- know it right away war.
We're all gonna be rich five years later they sold that company -- Yahoo!.
For six billion dollars from me the most patriotic thing you can do is an American -- -- -- Filthy -- you're creating jobs you're creating opportunities Cuban used his billion dollars to hire more people and create more with.
-- -- -- -- -- Took a team not expected to win.
They became national -- that we sucked.
That you have some idea nobody else hand there's this data players I walked in and I told everybody can match our win loss record.
-- fired the attitude would spread be content with contagious and losing is contagious and.
We had a survival attitude as opposed to let him.
That's what I if you don't think like quarters have betrayed you that you -- took us twelve years but we finally -- the world championship last year.
Now Cuban stars -- a reality show that invites not -- resorts to pitch ideas that.
Might grow into big job creating.
500000 dollars for 45% of the but Cuban says it would be hard for him to start his justices today because governments gotten so much -- -- troops.
A lot of these things now there's so much paperwork and regulation so many things that you have to sign up for.
That you have a better chance of getting in trouble than you do will be successful like come on guys feeling that you want people start businesses.
You know why make -- so hard they make it hard because they want safety and fairness and think their rules provide that.
They also make it hard because -- government demands higher taxes.
Cuban will survive but little guys get killed.
-- -- if you're gonna.
Want to remain particularly along with Italy and bought it's small farm in south Caroline thinking.
-- -- you know.
Pretty some in -- can pay for itself.
That's from decided to do and -- tourism business he started they have weddings and other events that far.
-- else's -- cattle -- -- news but he's been held back by government.
I'm tired and tell us what to do in how to -- and how to how to do business.
Had a camp product and I asked -- permission for everything -- doing a -- you want control everything and you come here and run the damn thing.
What is the government do that has in this frustrated.
This is just part of the regulations we have to -- we have right -- it will farm.
They're just going on nominate keep growing government regulations stopped him from community and selling his crafts we -- -- entire harvest because we couldn't get hit and certified and and they forced him to make tons of changes to -- -- A regularly told him you need to put another hand what you think rob saddest -- that's it for what for employees watching and a civil war what's wrong or the other thing.
The -- on its own was not a big deal if the little things that keep them.
Massing together and make this big ball.
That before long acting candidate big ball he's learned that bureaucrats keep their jobs I think in -- Well let's say -- building codes -- comes out if -- -- find anything that would goodies.
He can't just -- position us he goes back that would also found this in this instance just keeps building.
And rolling and -- -- time and money he -- of being government could have gone to create jobs without.
The government deterring the growth of this business.
We can weaken our Timorese.
Get out of -- away and leave us alone would create all the jobs but big government doesn't get out of the way.
It keeps helping us for example.
Are you disabled the politicians and -- say they can help you find jobs but they can't.
That must take strong action remember this guy vision of both blatant and subtle discrimination.
Young senator Al Gore convinced Democrats and Republicans to overwhelmingly passed the Americans with disabilities.
Part of the -- was to get people with disabilities employed.
And it's had absolutely the reverse effect a reverse effect.
When the law was passed 51%.
Of disabled people were in the workforce but now it's just 33%.
One reason is that the law makes employers -- the disabled is a legal threat.
-- -- disabled person he may soon we.
In addition politicians promised the EU it would force businesses to accommodate handicap people.
-- the law includes hundreds of pages of detailed rules every new doorway must be 32 inches wide.
Every -- -- more than forty inches above the floor.
If they aren't more -- bond may soon -- -- files hundred's -- -- lawsuits every year.
What would you do John if you were in a wheelchair you could remove your relax go to want something to protect -- to protect your rights.
But his usual politicians protection.
Deep nasty things now some businesses are sued by disabled people who have never even been in their stores.
Drive -- the lawyers call a disabled person or -- working for them.
Drives up and down the street looking for businesses that might not be complying.
-- -- -- -- -- -- -- -- Eric got an email from his attorney go to the following nineteen businesses -- nineteen business cards -- receipts.
And I'll pay you a thousand dollars.
Just get a business card to prove he was there and a lawyer would find a reason to -- Eric said no but he could have thousands of dollars a -- 191000.
The disability rules are hundreds of pages so most every business -- some rule could be that.
A mirrors an inch to -- unsecured floor -- round doorknob around door -- is illegal it could subject you to a lawsuit.
George -- -- carpet and flooring stores in San Diego.
His father was disabled use the scooter to maneuver around the store.
And we have a lot of disabled customers and never complained during -- and we always felt we were in compliance.
But -- an -- comes in and his or her motivation is to make money on non compliance I think they can be very creative.
One person suit claiming the store aisles were to -- for his wheelchair but there -- so we decided.
Let's look -- our security cameras were low and behold we couldn't find -- never was in the store.
But the phony plaintiffs' lawyer still demanded money he would just go away for 141000.
Dollars so George pay.
Even though we -- proof that the man was not in his store.
In told me being sued cost him a 100000 down.
They're faced with these claims that even when -- not true.
They pay him anyway because it would cost them much war.
To win it's as simple as that we know of a number of defendants who spent a 800000.
Dealing with these cases Clint Eastwood was one of -- -- runs his hotel restaurant he has handicapped accessible bathroom.
But a woman sued him because she claims she was directed to a regular bathroom Eastwood is rich enough to say go ahead make my day.
He fought back in court in want.
Usually business owners just paid a lawyer a few thousand dollars to go away just extortion but it's legal sure feels that way.
It's an ugly ugly process.
But it works used to about all kinds of trivial stuff.
Well that's trivial to you because you're arrogant and you don't see.
The point of view of someone -- -- sites your freeloading.
Off productive people.
There wasn't due for people like me.
Thousands and thousands of businesses would not be compliant with the -- right.
If you want to call it a racket.
Okay that's a racket that's written into the legal system -- -- that's legal extortion well entirely the system has driven by money.
Yes and by politicians who say yes we can -- way yeah.
The first -- this fight is our -- lot did you know you helped pay for this.
Want to go to college.
It's expensive and -- at Harvard now cost more than 50000 out state schools often cost 30000.
The politicians and -- say we can make college affordable for -- -- But now they can't.
They've -- federal spending and college aid is double than doubled again.
But -- government -- grew so did tuition over the past thirty years inflation was a 160%.
Were upset that health care costs grew more 400%.
But college tuition rose 750%.
The first thing you're struck by is our -- -- -- in screens and all of the trappings of -- jungle retreat.
One place your money goes is -- luxuries that entice students and their money.
This is the rec center at the University of Missouri.
From there you'll find yourself in the jungle again.
Complete with a -- -- to welcome you into our party -- gallery.
Not to be outdone by tiger where regulators are spinning studio and it is outstanding.
Especially with its -- worked -- by that international artists.
-- then who live which is -- in -- -- It's no surprise that tuitions time.
And we just keep feeding the problem and I only Riley wrote a book about how colleges waste money.
However colleges decide to hike their prices the federal government says okay we'll contribute a little bit more today almost half of college students get federally.
We've got to make sure that education is affordable and available to everybody wants to go people are looking to the government help them out of this mess but the government document that's.
Because the government.
Pays for everything.
The cost of colleges is not it's not just this.
This number that comes out of thinning hair colleges know that they can keep increasing the cost because the government says we will keep -- So -- the government sent.
Yeah we are not going to keep making up the difference no matter what you add to your costs.
The -- but it -- start to go day alone.
But progressives say government should spend -- there's no evidence that.
That college loans or any type of student aid increases tuition at public universities.
If you give people money.
Tuition goes up.
It doesn't actually and camera drought works for diesel some think tank that President Obama helped colleges have been forced to really cut to the -- if you look at what has happened after this recession.
Absolutely state funding has been steadily and pretty aggressively cut.
It -- on up from 55 billion.
Almost eighty billion dollars well isn't it -- It has gone up in absolute terms because there -- lot more students that are being educated what we're spending market.
There are a lot -- scenes shot if you had to make up all the hurt thrown -- student amount of financial aid particularly.
Today students get an average 121000.
Dollars in federal and state -- Up from 7000 in 1980 cent good morning mr.
vice president at least Vice President Biden understands that subsidies raise prices.
How do you feel about the idea that.
Government subsidies by artificially increasing the available -- availability.
A student loans is at least partially responsible for rising tuition cost the government subsidies have impacted upon.
Rising tuition cost is a conundrum here.
It sure if college is now advertise lobster dinners -- expensive dorms with luxury pools.
-- dense fog and fancy gym facilities and sushi for lunch -- that way you like to take your next vacation.
Every college you go to it will why do you spend so much money unless they -- well we have to compete with the colleges down -- pretty terrific climbing tower 42 feet.
With a variety of lights on it so we can simulate different times of the day so the administrators is good -- -- new Rockwell Atlanta -- where all of these Rockwell's art.
Okay I'll show more than 600 count is now -- -- -- Waltz.
What's important to any leader resort and what's important any red blooded American college student.
Spring break -- arts -- spring break every time they step in.
For the student recreation complex when you got -- where he had a definite that your faith and -- and it completely.
Often students -- complex in fact.
This is what sealed the deal is to be reading writing and arithmetic.
And well we're now the fourth -- recreation.
Pretty much every parent that I have -- my -- payments like I wanna be back in school and I'd I get back to going to school we're putting college of unnoticed.
New even progressives -- sent -- the rising cost of -- We can't -- coupon subsidizing skyrocketing tuition but in that exact same speech the president also said my administration.
Is increasing Federal Student Aid so more students can afford college.
The politicians see the irony.
Filming an event took place where fewer rules create transparent.
Things are coming up hotels -- Happening on Wall Street are freaked out waiting to see how loud and now -- don't.
When the housing bubble burst and markets -- people intuitively felt someone must do something.
The politicians in -- said we know what to do.
Senator Dodd congressman frank -- right more rules to make sure it never happens again.
And so they wrote and wrote hundreds of page they say this will create -- new financial system.
One that is innovative creative.
And far less prone to panic and collapse why is Dodd-Frank -- good thing -- consumer protection.
An agency that is dedicated to make sure that financial products like mortgages credit cards.
Our have simple contracts that are easy to understand.
Transplants is that it's Dodd-Frank simple did you read it absolutely -- has to understand.
Your guess this whole thing where it's always -- you understanding yes that's data can read that thing.
And until you run a bank is complicated but banks already had to follow these thousands of pages of complex rules.
Even before Dodd-Frank if you wanna open a bank you've got -- -- all these -- auto analyst and economist Richard -- is a former bank regulators.
I think most people have the trouble remembered the ten commandments belong.
101000 pages of something -- used to work in the -- and you.
-- -- -- Sound familiar he's got assets hidden in the -- Iowa and we're not gonna beat Barack Obama has some guy who has Swiss bank accounts Cayman island accounts -- -- the payments of those Caribbean islands where.
Mitt -- supposedly -- this money.
In other -- reputation.
The Cayman Islands people keep telling us it's where rich people go to cheat on taxes.
Here's a little building down the came in violence over 121000 businesses.
Claim this building of their headquarters is monkey business either this is the largest building in the world or the largest tax -- I'm meeting here at all of -- -- -- -- -- -- even when does this mean it really isn't.
Look at this GAO report the ID RSS.
-- officials provide all requested information.
In a timely manner Mitt Romney pays taxes and all the money earned from.
That payment and it is I would think it would be like pirate have a solemn pirate would go and steal all the months.
Well that actually doesn't happen because the rules are understandable.
Our laws are so complex even regulators don't understand.
The SEC investigated Bernie Madoff six times but didn't stop him Bernie Madoff could never gotten away.
In Cayman what -- got away with here in the US America's complex laws -- pretend to -- for all.
Remember this solution after the Enron scandal.
With a tough new law we will act against those who have shaken confidence in our markets.
They gave us -- called sarbanes Oxley which.
Cost America billions in paperwork.
But did not prevent -- offs fraud or the next bubble.
-- -- Banks made bad decisions.
It makes sense.
That he should have a rule to stop.
Now but what about that came in building.
Doesn't it suggest tax fraud thousands of companies are registered here it has nothing to do with taxes in Delaware.
There's buildings that have ten times for a hundred times as many registered companies it's true.
Company's register themselves and Delaware has Delaware it's simpler rules.
I want started -- business there in just one week fox T shirts.
-- Great stuff here I -- registered my stand even faster in the payments.
What I set out to do was to design -- system that was market responsive.
-- -- -- -- helped create the simple rules it takes just ten pages are registering hedge -- And the simple rules work.
-- -- our track record.
I just in in the past decade we've been through -- crisis of 2002004.
And a more severe crisis -- in 2008.
And no Kim -- financial institutions.
Are needed any type of government intervention or needed any type of a bailout.
Simple rules also created prosperity.
Today we have the highest standard.
They've been in the world within Israel's objective.
Jobs are always opening up the businesses are -- out of nowhere buildings are coming up hotels are being felt.
Simple rules has been good for people got its current two other people's reaction -- we protect people with more.
I go back to ten commandments.
You know the Bible -- originated ten.
It -- -- and it is a 100000.
Coming -- you hate TSA.
But could do there's something better people are me and Wellington all -- and after September 11.
Politician says government must take over airlines security.
Get federal law in -- -- -- -- a good job.
Tom Daschle said he can't professional -- if you don't -- In the senate voted 100 to zero.
To take over airport security screening -- -- -- -- -- -- So is it now professional -- These people don't think so fliers complain that they are.
TSA employees ordered the elderly woman remove her -- adult diaper because it was prevent -- -- thorough pat down.
This former Miss America -- -- don't -- -- -- -- Felt Huntsman.
But didn't TSE keep us safe there haven't been successful attacks since September 11 you might say that -- Its work.
Actually every report shows that that TSA missed things -- actually -- if this was the passengers and crew.
Congressman -- -- helped create the TSA.
Now we -- transportation committee.
Richard Reid it wasn't.
TSA does save the day if you look at that diaper bombers that was the passengers and and crew of the save the -- but Times Square bomber he.
Called on his cell phone ordered is taking a nominal weighted JFK went through TSA got on the -- On top of -- the TSA is such a lousy place to work that more than 50% of the workforce has quit.
The agency keeps losing employees in hiring nor.
They're advertising -- -- -- pizza boxes a career where X ray vision and benefits are standard.
-- high not because the TSA is under fund.
It spans ten times -- the previous private screening companies spent.
Make -- says he was shocked at how much money they can waste.
John you know one and I just sent two guys out.
They got -- warehouse in Texas by hundreds of coffers that didn't work.
Remember -- they cost a 150000.
Dollars each and we're supposed to detect explosives that they didn't work they sat and warehouse as they pay that might -- 600 dollars apiece for DOD to destroy them so the TSA wastes money.
This is terrorists infuriates passengers.
And creates long line.
Isn't there a better way.
Here's what the lines are shorter San Francisco airport they move quickly and passengers even -- the screeners are -- People act.
Eight and unwilling to a halt pending -- the united sanity everybody here's really want more -- to balance.
Dallas and all the other big airports employ government screeners.
San Francisco is the one major airport that was allowed to hire screeners who worked for a private company.
Not only your these screeners nicer -- better -- finding -- the TSA tested them and found they were twice as good at finding Contra -- Why would private screeners be nicer in better.
Yet here's a recent practice.
Here they're -- demands -- security cards together under black.
The -- screener will in 2000.
There's even romantic music.
The TSA trains its readers to -- this -- In this competition screeners -- search bags and identify forbidden items -- -- Then they rush to -- active.
This test -- look at slides people.
And try to remember details.
How many buttons are on her -- The private company makes these screeners specials.
Behavior detection -- They have to be able look at something look at a lot of people and and and be able to retain what they soft so this is -- -- you find out who's very good -- that stuff.
Screeners love the contests.
Vote usually it did you go yes we should schooler I'm not telling you that yeah here's the they're gonna try to be.
-- -- -- -- It's kind break in rain and I suppose they get better with these contests -- parents they have to.
You don't have the passion for right and I guess need to find another job and to privatization.
Bitter end to privatize seems so selfish I'd make your make -- money.
That's money coming out of my pocket I don't mind make rouble profit -- -- capitalistic way it's an American profit makes you try harder.
-- work very hard we have to do well.
-- -- That also means getting passengers through security quickly -- times here shorter -- they moved screeners around.
Then it's moved in staff from -- -- or repeatedly checkpoint with doing what we show read there we know we're short staff somewhere.
-- we start back up here a little bit -- I how many people can send help them.
-- and -- make those changes the director of this airport wishes her screening company tried as hard to keep lines moving.
And we get a high number of visitors and -- -- of course she does.
-- courts right next to Montana's Glacier National Park.
People go to the park in summer time traffic triples but the TSA doesn't respond to that.
Screening levels remained constant year round same number in so Morris in the winter.
So because of that and the delays it creates and passenger complaints about -- screeners Cindy wanted to switch to a private screening company.
The law to create the TSA allows -- but airports have to ask for permission.
Cindy and dozens of other airport managers and asked but the -- you -- simply didn't respond for a year in the -- Then they said no what reason that they -- you can give us -- reason we asked TSA officials to combo on the -- explain their position but they decline.
There's spokesman also -- -- when we asked for permission to film competitions San Francisco airport they told us.
The private company is camera shy and wants to stay out of the limelight.
But it wasn't true I don't know why they did I really don't.
The only reason TSA is given for rejecting other San Francisco like experiments is there is no clear advantage to the federal government.
McDonald's would like to tell Burger King you can't open here there's no clear advantage to you come in here.
They would love that I'm sure TSA creator congressman mica says the bureaucrats are just protecting their term.
Typical government gives them more power yeah keep the power in Washington so.
What -- you thinking that you did yes there's no question it's grown into a monster they becoming huge person now.
Operation instead of -- security operation.
Thumbing helps people think the program head start gives poor kid's head start but no -- There is one government program that most everyone says is a big success and that's head start.
Head start has been such an extraordinary success over all these years that's a program that's working.
Everyone -- headstart.
It gives underprivileged kids some early education to give them -- start before regulars who its lobby says -- -- place.
Her dreams are born and minds are nourished.
Talent can grow.
-- Its start as a great program and it gets results.
I think there's tons of results everyone thinks that.
But it's not true.
We've spent a 180 billion dollars on a program that has zero advantage for -- -- -- below zero -- There was a study that just came out in 2010 funded by the federal government.
It looked at a 114.
Indicators did not find one positive outcome some poor kids got head start other kids didn't.
They couldn't tell the difference.
Between the kid that had the large head start investment and the similar report -- -- the government's own study found.
Positive impacts while the kids were it start -- one year later.
All go -- kindergarten and first grade -- no difference in the kids that went and the kids that didn't.
There are president's taken strong stance against ineffective program.
We've got to eliminate programs that don't work eliminating programs that don't work -- eliminating programs that no -- work we spent.
More than a hundred billion dollars in the government does this big study -- -- loops.
So they say okay we're gonna stop.
No instead -- gets a billion dollar increase and then the next year in 2000.
Twelve this year it gets a 400 million dollar increase and -- Obama's 2013.
It gets another hundred million dollar.
I had a chance to visit one of the classrooms here and -- I have to say it got me all choked up.
We should be -- to his government keep spending more money and programs that even they admit don't work.
I wanted to confront the administration people from head start about this but they wouldn't talk to.
Someone -- congressman Ellison did.
You can -- tell me.
That that the food that they get the instruction that they get love that they get from the people who work there.
Are not doing these kids tremendous benefit I would like to believe that they -- lasting benefit but.
The government's own data.
Finds not what you know what that's not the problem of head start that's the problem of not adequate investment in our public education system.
What would be enough.
50000 a kid a 100000 a kid a -- is always we have to spend more money and if we're just better funded.
Will eventually get better out.
That's what the big spenders who was sick about most everything government -- yes.
More money and government power will fix everything but note they -- Source yes although government can't when we return we'll see how free people can't.
This weekend yes weekend -- we.
No they can't.
That's a nasty title for my new book but politicians can't do what private individuals -- Over the years politicians promised us energy independence world peace and end to poverty.
If we just give them more money they will solve those problems but -- they can't.
They're plants go bang -- head start doesn't work college tuition pays for spot the TSA is awful -- -- here.
-- -- -- -- -- There are hundreds of other examples of how government can't in here can read more about that in my website John its -- -- her.
But wait you say if government can't what about cutting edge science like -- America did send -- -- to the -- -- We all like this.
But think about it cost billions and what did we get.
Approvals for of -- history.
Instant breakfast -- with NASA technology did bring us the can't -- That are billions haven't got its -- we get lots of delayed much.
Government sciences problems.
I contrast for a fraction of the cost a private group called the X prize does better -- -- They promised ten million dollars to anyone with launched three minutes hours days 25 teams competed for the for a.
I have never been myself as creative.
As I have fireball in this and them -- Burt Rutan space -- one won the prize -- billionaire investors said.
Piece of Richard Branson came in and bought the rights and commercialized Craig virgin galactic a company -- plans to run a tour bus in space.
Already Tom Hanks Ashton Kutcher Katy Perry and brand -- -- bought tickets.
The fare is 200000 dollars -- But Branson says someday it'll be as cheap is normal air -- Excuse.
I'm told private companies won't want to do this there's no money to be made in going to the movements of this has to be done by government.
You know on -- really comes out of the private sector comes out of entrepreneurs are they gonna make money.
By charging for the ride politicians say government support.
It's critical in helping businesses get new energy ideas off the ground were programmed to believe that if it's.
For real high tech futuristic innovation -- come from the government -- it's just the opposite.
The feds have already thrown billions at failures like Solyndra.
And that was tiny compared it to clinch river breeder reactor solar want the Triad F that'll play.
And the hundreds of billions wasted on sin if you it's -- work out something is down progressives say governments boondoggles are worth the risk.
I liked the idea of government taking my my dollars my tax dollars.
Investing in the technologies of tomorrow progressives also like government forcing private companies to do.
Those fuel efficiency standards have forced Detroit and and in ways that it might not have.
-- without them.
If government didn't dictate 35 miles -- -- wouldn't get there.
We need government to force it.
I think we -- need government to force him but no.
We don't want government spent billions X prize offered a ten million dollar prize for a car that gets a hundred miles per gal.
An announcement sparks an immediate and powerful worldwide respond Gloria we got to do.
It would result in a big way to meet the challenge some teams use gasoline.
-- even compressed air.
130 teams around the world entered its proving what's possible the design phase was first cars at the -- -- looks -- Then came the safety and performance test most teams were limited well.
-- -- -- -- -- Our transmission just didn't hold up this team won the prize with a car that got 102.
Miles per -- I can't buy these cars yet but these cards are fully -- production component to them are going -- -- auto manufacturers one more example.
The ballot -- crude oil our government took charge after the BP oil spit.
Make no mistake will continue to do whatever is necessary and we brought in the best and the brightest and on the minds that could deal with this -- Government hadn't we start looking at this -- You know reinventing -- to clean up oil on the surface.
Hasn't changed since Exxon Valdez 21 years earlier so how would -- improvement I don't know.
But the competition will bring the best -- the -- and it's odd to hear you say I don't know.
The government assumption is that someone in government does knowing can pick -- you're.
Giving away all this money and you say I don't know we don't pick the winner in advance like the government doesn't restrict.
The research are funding agencies has you're good researchers -- -- money we -- -- and say.
I don't know which should you hundred teams in the past one but the one who achieve this will pay you we only pay for success and I'm waiting for that great big -- So Wendy Schmidt offered a one and a half million dollar prize for a faster way to clean -- boy 350 teams around the world registered and -- that competition.
We gave it up best shot we'll see what happens some teams had no prior experience with the -- -- We get -- well.
Hello you've been in the oil industry.
Well counting today.
The top ten teams went head to head at the world's largest oil spoken up facility in New Jersey.
And seven of the ten teams doubled the pre existing standards that had been used to clean up oil for the last.
The last twenty years we get this copper and one of the teams to double dip with a team that met in the Las Vegas tattoo caller I kid you not can't -- up the stuff.
And they built a scale model -- one of the guys pools and it's still doubled.
The ability to clean up -- -- from the last one wonders.
So for twenty years they tried and tried and they can clean up oil spills but only at a certain speed.
With the prize you double it actually the winning team for the price quadrupled it why can't the Environmental Protection Agency -- stuff like that well they could but they can't.
Just because government can't that doesn't mean we can't we can.
While government states.
That's our show and John -- thanks for watching.