And joining me now, someone who knows a thing or two about Manhattan real estate, Donald Trump . Welcome. Always good to see you. Hi, Paula. Hi, Donald. So the U.N. argues that the secretary-general residence has to be renovated because the kitchen is a fire hazard, it hasn't been renovated since 1950, that the electricity goes out from time to time. Why would the Bush administration approve this price tag? Well, it's a lot of money to renovate a building of any kind, especially a small building. And, of course, they are spending $1.9 billion on the United Nations building and they're spending at least a billion and probably a billion two more than necessary to do that job. So why would they try to save money here? I mean, they are spending a lot of money on this building also. But the big waste is the $1.9 billion which I predict in four years from now you will talking to me, Paula, and it will be $3.5 billion that they will have spent. Are you more angry about the potential incompetence in the way the U.N. procurement process works, or just the idea that we're even talking about these kinds of numbers in the first place? Well, you know what Paula, I'm a big fan of the United Nations. And when it worked well it was great. Bring back [Inaudible]. The fact is we have a war going on in Iraq. We have problems all over the world. They don't do anything except spend money. They spend money but they don't solve problems. I mean, why do we have this ridiculous war in Iraq going on? Where was the United Nations to help stop it? It is just -- if they did a great job there, let them spend whatever they want on there buildings. But to be so incompetent in every facet including construction in New York is pretty disheartening to me. I want you to respond to these numbers. $200,000 to upgrade the kitchen. $100,000 to renovate two small bathrooms in the entryway. $2.1 million to install central heating and air conditioning. Could you do it for less than that? Well, anybody can do it for less than that. That's a lot of money. And of course that's the peanut money compared to the bigger picture, but that's still a lot of money for those individual items that you just named. Certainly maybe double and triple what it should cost. So how outraged do you think U.S. taxpayers should be about this? I think they should be more outraged by the fact that the United Nations, which has the power to do great things, doesn't do anything. That to me bothers me a lot more than their renovation bills. But when you look at food-for-oil and oil-for-food and all the scandals and Kofi Annan's son, and then you see about apartments costing millions of dollars to renovate, and then you see much more importantly about a building in the United Nations -- at the United Nations. Here's a building that's built, and they are going fix it for $1.9 billion? And this all began when the Swedish ambassador called me and said you built a building across the street, 90 stories for $350 million. How come it costs $1.9 billion to renovate a building that's smaller? So it's a very terrible thing going on over at the United Nations, Paula. [End Clip] And that was my conversation with New York real estate developer Donald Trump .