Roundup: Global conference held in LA to find solutions to social, economic challenges

Over 3,500 people from 55 countries and 41 U.S. states gathered in Los Angeles Monday to find solutions to some of the most vexing global social and economic challenges.

The four-day conference started Monday with formal programs focusing on panel discussions and closed door meetings.

During Monday's panel discussion focusing on global economy, Sheryl Sandberg, chief operating officer of Facebook, interviewed three former U.S. treasury secretaries about global economic trends, public finance and capital markets.

The three former secretaries expressed same opinions during the discussion that the U.S. has plenty of problems, but it is still in a dominant global position.

"We're a bright spot in the global economy," Henry Paulson, the former Goldman Sachs chief who worked for President George W. Bush, told the panel.

Paulson noted that steady, if slow, economic growth since 2009 and rising home prices were examples of America's enviable position compared to other countries.

Robert Rubin, former U.S. treasury secretary under President Bill Clinton, said the world is increasingly viewing the U.S. as a political mess, emboldening other countries that want to step into the fray.

"The world needs America to be America again," Rubin said.

However the former U.S. treasury secretary said, "I'd rather invest in the United States than any other country in the world. We have tremendous comparative advantage."

Timothy Geithner, who served under President Barack Obama, shared the same view: "If you look at the challenges we face as a country, they are pretty historic challenges, and our politics are terrible. But I think you'd rather have our challenges than the challenges of any developed economy."

More than 700 speakers, including major investors, CEOs, senior government officials, scientists, educators, philanthropists, and journalists will take part in more than 170 sessions at the Global Conference.

The annual event held by the Milken Institute demonstrated its high profile and high tech feature by livestreaming most of the panel discussions and heavy dependence on social networking.

Conference attendees are encouraged to download their own social network app to connect with other attendees. Participants may connect before, during, and after the conference.

Now in its 18th year, the Global Conference annually attracts 3,000 leaders in business, finance, government, public policy, academia, philanthropy, law, science, news media and more. These individuals represent some of the world's top firms, organizations, universities and governments.

"The conference brings together global experts to engage in informal but critical conversations about the most pressing issues of our time. What emerges is thoughtful insight and inspiring advice that gave me and other participants a deeper appreciation for what the future holds," commented Eric Schmidt, executive chairman of Google. Endi