we may not like the dodd frank bill and think it overly em cumbers the security markets, we may think that the authorities are better off exercised by the treasury department, we may have all of those objections, but those objections are to be heard in the debate on the legislation. once the legislation is passed, they are to be advanced. the law is to be honored, and that includes honoring the recess appointment authority of the president. you know, there was another reason i think more for the lack of intercession appointment, and that was because the initial years were spent trying to figure out which vacancy was covered. these that existed prior to the recess, or those that only arose during the context of the recess. that was where most of the focus was in the 18th and 19th centuries. but with the exception of the misguided attorney general knox who was rather promptly overruled, it seems to me every attorney general that examined this and every office of legal counsel that examined this indeed concluded that intrasession practices have by virtue of tradition if nothing else, and

immediately, pass the repeal of the dodd-frank bill, abolish all of the white house czars. no point in hanging out and having fun. before we get to go to the various balls that night, we're going to have a work period. this is going to be a working presidency. ( laughter ) >> jon: newt gingrich appears to have confusedly the florida republican primary with the general election. and getting your ass kicked with winning. you may think it's a little early for newt to be limbering up his bill-signing hand. after all he lost badly in florida and the republican establishment appears to hate him as much as everyone who is not republican. but newt feels like he'll bounce back, and there is a good reason why. >> i have been studying what america needs to do since the fall of 1958. ( laughter ) >> jon: you were 15. ( laughter ) your campaign just keeps getting sadder and sadder. that's-- that sentence just sounds like it's from the worst origin story for a super bill than ever. when i was 15 we moved near a toxic waste dump and one day while walk home i was bitten by a radioactive po

[applause] i will ask them to immediately pass the repeal of the dodd- frank bill which is killing housingbanks and independent banks. and i will ask them to pass the repeal of sarbanes oddly, which is crippling american businesses with no net benefit. my goal is to have all three bills sitting there waiting so the minute i am sworn in i can sign all three and we are off to a pretty good opening morning. [applause] those three provinces are conditional. we have to win the senate by a big enough margin to manage it and we have to increase our strength in the house. help me do that and will do those things. we will put this together in a way that you will be able to see and riding with my signature and you will be able to hold me accountable. there are a series of executive orders that i can issue that the congress cannot stop as long as they are within law. the very first executive order will abolish all of the white house czars as of that moment. [applause] we will issue immediately an executive order on the same day -- all of this will happen to hours after the inaugural address. there is

so we've been trying to track cumulative effective the dodd/frank bill. it has about 400 rulemaking requirements in it. some of them you're required to comply with. and recently we reached a milestone i think of 400. we put out about 140 of the rules. and so we still -- so about a third of the way through there. it was alarming to find that basically the regulators themselves published it would take about 22 million man hours per year to comply with the first 140 regulations. and so that means we're two-thirds of the way. and so we're obviously headed to a lot of compliance hours. it was interesting to also note that only took 20 million man hours to build the panama canal. i think that most everybody would agree that 20 million man hours spent building the panama canal created more economic opportunity than in $22 million man hours complying with regulations. are you concerned? i mean, that this level of regulation and this kind of burdens that we're putting on the markets and the market participants, is that healthy? >> congressman, i do think it's impo

dodd/frank rule. what is your perspective on how much it solved the problem? >> there's always been a split within the billent sections. the sections that dealt with consumer finances, mortgages, credit card for student loans, that set up the consumer financial protection bureau, was always the best part of the bill. i say the best part of the bill, in that it was the closest to what was really needed in terms of putting a new regulator on the beat who was going to, you know, have a lot more power than any regulator has and a lot more desire to actually take care of them and families that stand up for the banks. we have always had this split between that, which is the high watermark of the bill and then when you got to actually regulateding wall street, actually doing some things to prevent future bailout and changing the business mod on wall street which is the area i was walking on. the dodd/frank reform bill. >> we will blame you good please do. i mean, it was tough. you know. i was there and i was both defending the very existence of the reforms and then going and speaking with, you know, larry summers

i will ask them to immediately pass the repeal of the dodd/frank bill which is killing housing and smallsiness and independent banks. i will ask them to pass the repeal of sarbanes oxley which is crippling american benefits with no net profits. my goal is to have all three bills sitting there waiting so the minute i am sworn in i can sign all three and we're off to a pretty good opening morning. those three promises are conditional. we have to win the senate by a big enough margin to manage it. help me do that. let me tell you some things. we will put this together in a way you will be able to see in writing. there are a series of executive orders that i can issue that congress cannot stop as long as they are within the law. the first executive order will abolish all of the white house czars as of that moment. we will issue immediately and it said he did order -- all this inaugural address, ok? before we go to the various balls, we will have a work period. i may not get in as much golf as obama, but i will get in as much job creation. i will tell you up front. i am not going to compete w

and it basically guts the very hard earned and badly needed whistleblower protections in the dodd frank bill of two thousand and ten these are new incentive programs they haven't even had a chance to be tested the rule making from the incentives the incentives for people who work in wall street in financial in finance to blow the whistle and it provides a reward or an award program for them if they bring to light waste or fraud or abuse and the agencies then sanction the people who are agencies and sanction the corporations to the tune of least a billion dollars so whistleblowers using this program would be saved. the taxpayers millions and millions maybe even billions of dollars and yet already before the programs are even out of the gate there's a tax and i think you know deep throat said follow the money. there's a lot of money involved here and there's a lot of corporations that stand to lose money if the f.c.c. is the securities and exchange commission is actually able to enforce the the laws that they're given the power to those corporations all powerful as we know a lot of a lot of mo

the dodd-frank bill wasn't the geithner bill, wasn't the obama treasury bill, it was dodd-frank. the democrat and senate who contributed most to creating the problem wrote a bill that's supposed to fix it. the president signs it. the democrats for 30 years have had leadership come from the house and senate, and then the democratic president gets to sign the legislation that they put forward. so the idea that people should be president centric has been a republican idea the last 30 years, but the model is the modern democratic party where ideas and projects come out of the house and senate and the presidents get to sign the bills. that's been obama's leadership over the last three years. not something else. >> and whether mitt romney or rick santorum that becomes president, basically it is going to be a congress driven agenda? >> yeah. i mean, you look at the republicans have the house, because of redistricting, who is running, likely to keep it, likely to take the senate as well in 2012. they only need four seats, there are 23 democrats up for re-election, more than half of whom a

why didn't dodd frank bill address fannie and freddie? that's not a question for you, but i want to know what your plans are when it comes to fannie and freddie? what would they be held accountable for? >> and they're not essentially in business anymore. we sent a letter to the head of fifa two weeks ago saying, you need to address this fannie/freddie issue in the first instance, that we need the same kind of relief for those loans that fannie and freddie and now in receivership can be modified, can have principal reduction. we're working with california and the united states ask working with homeowners in those states. but we need ultimately to get

why didn't the dodd/frank bill address fannie and freddie. why are they still in business. that's not really a question for you but i want to know what your plans are when it comes to fannie and freddie? >> they're not really in business. they're essentially in receivership with fifa, federal housing financial authority. we sent a letter to the head of fhfa and said you need to address this. we need the same kind of relief for those loans that fannie and freddie and now, in receivership, can be modified, can have principal reduction. we're working with california, new york, many of the other states in looking for that accountability for homeowners in our states. we work what our federal partners on. but ultimately we need the same resolution that we've gotten in massachusetts and now, with this agreement, to get relief for homeowners. that issue, i think, is a good one to ask your congressman, your senators, they are federally created and federally run and federally overseen. and the hands for -- the ways in which a resolution can be reached with them is probably going to h

whistleblowers or alleged whistleblowers in government and intelligence fields and of course within the dodd frank bill there were supposed to be more whistleblowers within you know these big banks within wall street corporations where do you think sandy and we're almost out of time where do you think would be the best possible place to start in terms of expanding rights for whistleblowers. well i think that we have to has to be a real grassroots people's movement and i think we're starting line here to help expand get in the truth and take it taking it over by the people who are not putting our trust in the government because obviously that's a very misplaced trust all right well good luck this weekend at the conference i'm sure there's going to be a lot of interesting things discussed and debated activist cindy sheehan joining us from berkeley california let's talk now about going green in america i mean a lot of things to a lot of different people but overall we're talking about making decisions that help or at least don't harm the environment there is even in this country the green lobby that throw

you know, if you look at, it's eerily similar, and i studied dodd frank more, to dodd frank. the reform bill. when you unpock dodd frank it's a goldberg contraption of rules and regulations that really doesn't do much about the underlying financial crisis and suppose today prevent an implosion and prevents banks from making moynihan giving out loans and i think it's a huge problem and i tell you, i don't know what republicans do, i don't know what anybody, but there is an argument to be made that this man, just not this socialized the economy, he may be ruining it for years to come. >> i don't worry so much about the obvious costs in the ways to raise revenue that charles pointed out. i worry about the cost, but at least those have been known and they're out there, like i'm personally, really angry about the 10% tanning tax that went into effect. and a 10% tax on tanning services, 10%, that's outrageo outrageous. >> outrageous, i'm serious, but it's the hidden costs, it's what's hidden in this. >> and they have a separate 10%. >> it's a 10% exeyes tax on just tanning. >> they do that because

they're giving overwhelming to republicans now because people like myself have passed the dodd/frank billanymore. >> to you? >> to me. because they didn't like the dodd/frank bill which i think is balanced reform and fair reform. >> right. >> and they don't like the idea of saying that we think millionaires should pay a 30% tax. >> so senator, just -- i'm talking historically, what presidential candidate received more money from wall street than any other president in the history of the united states? >> well, you know, i guess you mean barack obama, and i'm not -- >> i was just asking. >> okay, i don't know. >> it was. it was barack obama, and there's not a close second. >> i will tell you this. in this election, wall street is giving money overwhelmingly to republicans because they didn't like the dodd/frank bill. and you have lots of democrats who used to give to democrats in 2008 giving to the other. let me say this, it goes way beyond wall street. it's a small group of ideological millionaires. it's the old swift boat people. it's people who give millions of dollars and who really ha

. >> and mitt has been campaigning on repealing the provisions in the dodd-frank bill. >> that is himng me to held me he is mad. they want do back to the system largely that we had pre2008. >> i guess the question is for those of us that live in new york, when we talk about the means that are out there, to what degree do we believe that the days of the dinners are gone and perhaps not on break? >> i mean, new york city is a money town. >> that is right. >> so money is going to come through here in one form or another until they burn it down. so, i think, i think the lavish dinners seem to be going on quite extensively throughout new york city. so i don't know that it changed much. i've been traveling through the rest of the country. and new york city and manhattan in particular seems more brisk here when it comes to business, compared to going to chicago and detroit. i guess wall street made so much money that making a little less is not going to fundamentally hurt it. >> that is right, and you have to ask what is driving it down and what is driving it down is the economy in europe. t

january 20, we will have repealed obamacare -- [cheers and applause] we will have repealed the dodd- frank billhat is killing small banks. we will have repealed sarbanes oxley that is -- on january 20 within a couple of hours after being sworn in, we will already be signing three major bills starting to get rid of the obama administration's imprint on the one. [cheers and applause] we will go further than that. on the first day i am president i will sign a series of executive orders. all of them will have been published by the first. the election will be about whether or not to do it. the first executive order will abolish all of the white house czars as of that moment. [cheers and applause] i will also sign an executive order implementing the keystone pipeline as of that date. [cheers and applause] i want to say to our friends in canada, you do not need a partnership with china. you'll have a new president and agreement. you will be able to build the pipeline right through the united states. [applause] on that very first day, i want to sign an executive order that moves the american embassy to

i will ask them to immediately pass the repeal of the dodd/frank bill.ery first executive order will abolish all of the white house czars. all this is going to happen about two hours after the inaugural address. okay? before we get to go to the various balls that night, we are going to have a work period. this is going to be a working presidency. >> and i'm going to have ice cream after dinner every night. i mean, it's like boys state or girls state here. what i'm going to do. >> well, you know, another point in the speech he said, i've been studying what america must do since 1958. he was 15 in 1958. so when you talk about having these grand ideas -- >> i believe that. >> yeah, yeah. >> you knew what you'd do. >> i knew what i was going to say about it. >> once again it wasn't a particularly effective speech. it was somewhere between being petulent and giving a visionary speech. >> you can be the masters of the cloth and decide in a minute what romney should do to bring this guy into good order. on "morning joe" which was great this week romney continue

he's going to pass a repeal of obama care, pass the repeal of dodd/frank bill, pass the repeal of the sarbanes-oxley. abolish white house czars, deployment of keystone pipeline. pass an executive order and do this all before going to the inaugural balls. >> well, gingrich gets criticized for having ideas that some may say are a little out there or wacky, but you've got to give him credit for having ideas and policies and proposals. i think at some point it would probably be helpful for romney to begin mentioning some things that he would actually do in the white house other than these kind of as hugo said platitudes about replacing obama. i think it's important for him to begin now telling the american people what exactly he would do to deal with the economy that he says is so bad and has hurt so many americans. >> and that's where gingrich wins that moniker of being the ideas guy, right, because he's putting this stuff out there, never mind that these ideas are hugely questionable. >> people want to know what their president is going to do. >> that's why everyone is calling on romney

>> reporter: one of the things that happened in the dodd frank bill was something essentially called a position limit. that means if you're trading oil they want to say x person kate you can't trade more than a certain percentage. there's a lawsuit about that now. the financial industry said, we don't like that. we don't like that model. we don't want someone telling us how much we can trade. it actually goes to court on monday. that's the first legal salvo to see if there will be some limits put on how much people can trade in the very volatile oil markets. >> and when it's in court it means it's going to be a little while before anything happens one way or the other. >> reporter: yes. >> our aviation and regulation correspondent lizzy o' leary. thanks so much, lizzy. >>> in another major story tonight, president obama and most world leaders are banging the drum even louder demanding an end to the bloodshed in syria. >> it is absolutely imperative for the international community to rally and send a clear message to president assad that it is time for a transition, it is time for tha

i will ask them to immediately pass the repeal of the dodd-frank bill. the very first executive order will abolish all of the white house czars. all of this is going to happen about two hours after the inaugural address, okay? before we get to go to the various balls that night, we are going to have a work period, because this is going to be a working presidency. >> what was fascinating about what beginning zrich lagingrichs name check, talked about keystone, talked about judges, talked about some things that he thought could motivate the base, didn't seem to talk about what he's going to do to somehow unify the party. he came out 45% approval rating with republicans. romney stumps in minnesota and then heads to nevada, where ron paul has been campaigning. newt gingrich will be in reno for an event and fund-raising. santorum will be in colorado where he promise today he'll give a give speech against romney's health care event. last night instead of using his national platform to make the big contrast with romney on health care, santorum decided to defend

reports the number of people lobbying today on behalf of the financial industry to try to weaken dodd-frank, the bill passed after the disaster, outnumbers consumer, union, and other groups by a ratio of 25 to 1. the financial industry outspending everybody else 25 to 1 to try to weaken dodd-frank. >> i'm quite surprised that the political establishment would listen to groups that have been so discredited. >> you're saying despite what happened in 2008, wall street still has too much power? >> they have too much voice. they certainly are being listened to. i find it incredible. i would have guessed that society, at large, would have said, "hey, we made a mistake. let's get some rules." you know? i used to tell my kids, "why do you think a car has brakes?" and they all would say, "to stop." and i'd say, "no, a car has brakes so that you can drive fast. if you got into a car that had no brakes and you knew it, how fast do you think you would drive? you wouldn't drive very fast at all." and that's the same reason we have rules. you want the private sector to be free to be creative and exuberant and what

ask them to immediately pass the repeal of obama care, to immediately pass the repeal of the dodd-frank bill. i will ask them to pass the repeal of sarbanes obviously, the very first executive order will abolish all of the white house zars at that moment. >> bob, obviously his ideal ageda there, what is different about what we're hearing from newt gingrich last night in that speech and what he was saying as opposed to what we heard in the last contest? >> reporter: well, it was a much different contest in south carolina. gingrich came out swinging there. he clearly won the debates there. romney had a very bad time in south carolina. a lot of his own doing, but he hired himself a debate coach who managed to turn these debates around. i wouldn't be surprised if mitt romney wouldn't agree with everything that newt gingrich said in that statement there. certainly he's talking about doing away with the president's health care plan and some of that other stuff, but, you know, just saying i'm going to ask the congress to do that is one thing. he'd have to have a republican congress to be able to do

of obamacare. [ cheers and applause ] >> i will ask them to immediately pass the appeal of the dodd-frank bills killing housing, killing small business and killing independent banks. [ cheers and applause ] >> i will ask them to pass an appeal of the bill that is crippling american businesses with no net profit. [ applause ] >> my goal is to have all three bills sitting there waiting so the minute i am sworn in, i can sign all three and have a pretty good morning. [ applause ] >> those three promises are conditional. we have to win the senate by big enough margin and we have to increase our strength in the house. let me tell you some things and we're going to put this together in a way you'll be able to see in writing a with my signature and you will be able to hold me accountable. there is a series of executive orders that i can issue that the congress can't stop as long as they are within the law. very first executive order will abolish all of the white house czars of as of that moment. [ cheers and applause ] >> we will issue immediately on the same day, all this is going to happen two hour

in 2009 or 2010 when financial reform was taking place, wall street, dodd-frank bill, all the things that were designed to change the way the nation's financial structure was shaking out in the aftermath of the economic collapse we had, the money went the other way and the political money really started supporting republicans. this is something that has persisted well past the midterm elections in 2010 and has been rolling along just fine for the republicans. host: we want to show our viewers and listeners an ad being put out by the chamber of commerce. this is attacking tim kean in his run for the senate in virginia. then we want to talk about outside spending groups that are not super p.a.c.'s and groups that are putting big money in campaigns that are not presidential. >> i think healthcare reform will go down as one of the great achievements. obama care could cost virginia up to $2 billion. it will kill jobs across america. >> one of the greatest achievements of this president. >> higher cost, less jobs. these are no great achievements. call tim kean. ask him why he continues to

i would just like to point out for the record the bill is so bipartisan it's called dodd-frank. mr. bernanke, thank you for being here today. in your testimony and in your written remarks there are some things, coming from michigan, very hard hit state that is struggling to come back in this stagnant economy. there are some things that bear repeating. on page, i believe, 2. the economy appears to have been growing during that time frame at or below itting long-term trend. continuing to improvement in the job market is likely to demand stronger growth and production. the job market remains far from normal. the unemployment rate remains elevated, long-term unemployment is still near record levels. and the number of persons working part time for economic reasons is very high. go on. fundamentals that support spending continue to be weak. we have house hole and income and waeltd were flat in 2011. credit remained restrictive to any potential borrowers. consumer sentiment which dropped last summer rebounded but remains relatively low. now, two questions and then i'll be quiet and listen.

we have the dodd-frank reform bill on finance that you may be familiar with kamala on a debate about that. one of the clauses was a whistle blower clause which says that if you work for the private sector, nonprofit organization, or the federal government, and you know of somebody committing a financial crime who is your boss, insider-trading, embezzlement, taking bribes, whenever, if you report them to a law-enforcement agency your job is protected. you have a whistle-blower protection. congress is exempt from the law. so there is no whistle blower protection. if you see your boss on capitol hill doing something in the report it, great for your reporting it. he may very well, and i bet you probably will lose your job. these are the sorts of exemptions they are allowed. i am a firm believer in transparency. i don't think you have to do things in terms of making things complex. i don't think that having the police themselves makes sense because it does not been very effective. i think the greater the transparency the better, so one of the things i talk about in the book, i would have