dodd-frank eliminated many of the benefits provided to the federal savings association. the whole restrictions unfortunately remain. these restrictions have left federal savings associations at a disadvantage and without the flexibility needed to adapt to meet community needs and as a result of forcing many mutual banks to either close or merge with other institutions, meaning fewer and more expensive choices for consumers hoping to financial important purchases. h.r. 1426, mr. rothfus' bipartisan legislation, passed out of the financial services committee unanimously. it would help to preserve these important community financial institutions by providing mutual banks with the framework to become covered savings associations. this process would provide them the ability to be able to operate with the same rights and duties as a national bank without subjecting them to complex, time-consuming and costly charter conversions. providing thrifts the flexibility would give the institutions the ability to be able to exceed the commercial and consumer loan limits that apply under

dodd-frank added unprecedented new regulations on industry. as we have -- as has been said already, institutions have to collect additional 25 fields of data. this is more than double what the banks and credit unions and other lenders had to report prior to the passage of dodd-frank. not only do these added requirements increase costs for all financial institutions but has taken lots of time for smaller community lenders to prepare for them. this house should be well aware of two surveys that reported an alarming inability of those entities toll meet those new requirements. in fact, in my meetings with small banks and credit unions from oklahoma, all of them have raised these specific rules and requirements as being costly enough to affect their business decisions such as how many mortgages they could feasibly originate. all of this makes this bill not only timely, but immensely necessary. i represent a district that is full of institutions that originate fewer than 500 closed-end mortgages or open lines of credit for two years. while these ne

we are looking out dodd-frank because went to free up so the banks can loan money to great people. the banks have been able to do that. they were restricted. a person came up to me at a recent stop and said you know, all my life i did business with a certain bank and now all of a sudden they can't do business with me. i've always paid my debts pick up always paid my bones. the bank leslie but there prohibited another can do business without person again. where doing a really job on it. but the regulations had a lot to do with the success, to let kid you. without taking off those regulations, look what we've done just in time for the pipelines come 48,000 jobs from almost, they one come 40,000 jobs. we have plants all over the country that are getting filtered toyota is now moving back. mexico, very interesting, price list is moving and moving back to michigan. you haven't heard that one. you have heard that one in a while. [applause] and one of the important things we're doing as you know doubling the child tax credit. that something so important to all of us. so women owned small

. >> reporter: a simple walk with her dog is a miracle for cynthia dodd. less than a year ago the 46-year-old suffered a massive stroke in her sleep. >> i would have died and if i did live, i would be complete vegetable. >> reporter: by the time she was found in the morning, it had been more than six hours, which had been considered too late to remove the brain clot and save the patient. but now new guidelines from the american stroke and heart associations say doctors have up to 24 hours to use clot-busting devices like this thin wire. >> it's a massive game changer. we've had these devices now for a period of time. now we've expanded the window that we can intervene and act on patients. >> reporter: that's the life-saving part. >> life-saving and improving their recoveries. >> reporter: one study found expanding the window of time to even 16 hours cut in half the number of deaths and severe disability. >> with these treatments you more than double the chances of someone being independent in the time after their stroke rather than being severely disabled.

state senator bill dodd of napa says the proposal will benefit the state for years to come. now about 170-thousands children who are eligible for publicly funded pre-school are not in class. officials say that's because there are not enough spots. state senator dodd says the measure would build on the state's transitional kindergarten program which was put into place in 20-10. the first hearing on the bill is expected in march. ( james ) the takata air bag recall is getting bigger... now... toyota is recalling 600-thousand additional cars in order to replace defective and potentially deadly takata air bag inflators. some of the cars included in the recall..... are the toyota corolla... matrix... 4- runner... the yaris and the sienna. the affected cars were made in 2009... 2010 and 2013. seven lexus models were also affected. at least 20 people have died worldwide... and more than 280 others have been hurt by the faulty airbag ( james ) coming up on the kron 4 morning news... one cigarette is all it takes. but a disturbing study on addiction does have one silver lining. ( jam

i don't know that i would see a rollback of dodd-frank. see an interpretation of dodd-frank in a way that the original conveners would not object to most of it. some of the rules were difficult to follow. if we could have an interpretation that was doable and simpler, volcker as an example, we would be enormously pleased. we see potential banking changes for smaller banks. i don't know if that would affect the larger corporations. erik: what you think the standing is of american banking as an industry in particular large banks like bank of america? anne: it is improved. we see that we have made great improvements, certainly from the low point in 2009, but just on its own. see somebodys to else trip and fall. is a mistake people make that we are pleased by that -- we are not. unfortunately, it's a reflection on an entire industry. we are eager to demonstrate real value to people. honestly, not to be pollyanna about it, but the last few years have been good because we've been transparent and tried to demonstrate value. erik: you are a leader

literally after the book came out i got an e—mail from the head of that group, i saw it was from him, doddsid that he and the boys had read the book and that they loved it. it was a big sigh of relief. and when people begin this book, they should make an effort with the gaelic glossary at the beginning of it will make all the difference. indeed. peter may, author of i'll keep you safe, thank you very much. thank you,jim. something marred on the way over the next few days. the way things feel at the moment, you may need some convincing. —— something mild on the way. the cold is in place over the country. the mild air is on its way. before it arrives we have one problem to deal with, a band of wet weather sliding in. remember that cold air remains in place so that will turn to snow. it will also bring ice in places during sunday. if you are travelling, bearing mind in central and northern parts of the uk there could be disruption. anywhere from wales, the midlands, north woods, especially over high ground, this wet weather is likely to turn to snow. —— anywhere from wales, the midlands, and n

from the head of that group, isaw got an e—mail from the head of that group, i saw it was from him, doddssaid that he and the boys had read the book and that they loved it. it was a big sigh of relief. and when people begin this book, they should make an effort with the gaelic glossary at the beginning as it will make all the difference. indeed. peter may, author of i'll keep you safe, thank you very much. thank you,jim. well, it was like a weather oasis in stratford on eave on here, tranquility. like spring in the air. but there are winds here through the night into western and southern scotland. there are further accumulations building on the hills, and also to lower levels. there are icy conditions where you have had the showers through the day as the temperatures drop, so frosty as well. a cold start to friday. you can see the extent of the wintery showers, rain, hail but snow also pushing into northern ireland and scotla nd pushing into northern ireland and scotland and again giving difficult travelling conditions with the heaviest through the day. some pushing into the pennines. a f

because we had -- dodd-frank here we talked about this. the deregulation of dodd-frank and many of these regulations that were put in place to protect individual consumers are so important. i am concerned about rolling back any regulations that is going to open that door and lessening type of consumer protection, in type of work that we've done, particularly in nevada and across this country to protect individuals. look forward to having for the conversations with you with respect to the idea of tailoring your regulations as well. thank you. >> that you send a. >> thank you. senator shelby. >> governor powell, congratulations. i look forward to voting for you, helping anyway i can come you to confirm. i think it will not be long hopefully that you will be over at the fed as the chairman and you'll have a full complement over there, which you will need. you put your stint on the fed and i hope it will be in a good way based on your experience in the past. we talked about a lot of things here, i want to get back to basic inflation scares, if

state senator bill dodd of napa says, the proposal will pay dividends for years to come. voááá) right now, around 170-thousands children, who are eligible for publicly funded pre-school, are not in class. officials say, that's because there are not enough spots. research shows.. that a high- quality, one-year universal preschool program in california, would generate between 2- and 4- dollars in benefits for every dollar invested. state senator dodd says, the measure would build on the state's transitional kindergarten program, which was put into place in 20-10. the first hearing on the bill is expected in march. (steve) coming up... flu deaths continue to rise across the state... now we're seeing a spike in dogs getting the flu... tips on how you can protect your pooch (pam) then - we've told you about the car breakin problems in san francisco.now a visiting olympic figure skater has been hit...what the thieves got away with. (steve) and next -- another home pacifica in danger of falling victim to coastal erosion.. ♪ it's time for sleep number's 'lowest prices of the seas

the fed has taken the view for some time now that it is trying to look at dodd-frank and all the rulesin the wake of the crisis and look at where we might have gone too far. the fed has been doing that for a while. they are motivated to give banks released. shery: this would be a big win for president trump and his initiative to deregulate the economy. >> yes, where you get into questions is -- are banks going to use this to grow the economy by issuing loans, or just reward their shareholders are doing buybacks and increased dividends? vonnie: right. take you so much for joining us. headlines crossing the bloomberg -- john cornyn says the senate is prepared to hold a vote on a stopgap measure after lunch. once again, john cornyn saying the senate is prepared to have a vote after lunch. yield up, bloomberg real is next, starting at 12:30 new 5:30 london time. we will be keeping an eye on bringing youd anything that changes as the senate continues to debate the continuing resolution that may keep the government open past midnight. ♪ n past midnight. ♪ >> 30 minutes, this is "bloomberg re

after we adopted obamacare and dodd frank, we had two million jobs.se are the real facts, not the alternatives facts. >> trish: the news today. the news that walmart is giving out bonuses. >> walmart is closing 63 sam's clubs and they didn't put that in their press release. you don't want to talk about the 63 sam's clubs. and thousands losing their jobs. >> trish: businesses close all the time. >> and bonuses are given all the time. that's why we have a christmas and new year's. >> trish: if they determine it's not prosperous to keep it open. >> you can't attribute that to a tax bill. >> trish: it's almost as though i fear some members of your party do not want to see this economy succeed because if this economy succeeds, people will credit donald trump with that. you don't want that happening. >> that's why we're there, fighting to preserve social security and medicare. that's why we're there, trying to make sure that we don't deport millions and millions of people. that's why we're there not wanting the federal government to close down and the econo

after the financial crisis, and we ended up with dodd-frank.h that went too far did cfpb go of a tar in areas probably does that need to be corrected back? yes, do community local banks need different regulatory framers than big systemically important institutions of continuous would be crazy to relax capital standards for big banks one key thing we have a fundamental but will warshi bulwark in united states, is to have the capital repl replenished higher levels in banking. >> see you on wrote a this week we will be right back. ms... ms... and big plans. so how do i make the efforts of 8 employees... feel like 50? how can i share new plans virtually? how can i download an e-file? virtual tours? zip-file? really big files? in seconds, not minutes... just like that. like everything... the answer is simple. i'll do what i've always done... dream more, dream faster, and above all... now, i'll dream gig. now more businesses, in more places, can afford to dream gig. comcast, building america's largest gig-speed network. when it comes to travel, i swe

commander john dodds powerful local contacts have helped our team arrange access to an armed police unit fighting on the front line. out of again as they are rushing over there you know and. that's really i mean we're slowly get at interest pretty. afghan security forces like these are already stretched by a resurgent taliban who recently launched a major attack on the city of canoes but eisel are increasingly attacking government forces directly to. in september two thousand and fifteen three hundred fighters launched a deadly raid on a police checkpoint at such an i saw all so claimed an attack on two nearby army barracks government airstrikes killed dozens of militants but despite these and other heavy losses i still still seems to be growing. the situation is now so serious the americans have reversed their decision to withdraw and will keep thousands of troops in the country for the foreseeable future. and while the fight with i.c.l. is flaring up the old enemy the taliban are still out there. the afghan local police with their mixture of civilians and uniformed volunteers often see

. >> i would say so the hair is a little excite dodd see that. >> also better than naked one going around>> that's true. >> you have shmuts there. >> national hall of fame trying to get rid of chris christie bobbleheads they were $20. >> if he was in beach chair tom fitzgerald would buy he every one of them. >> the museum marked them down to $13 to match his approval rating 13%. here we go hurry up we'll take brody -- we're not sound asleep yet don't move the show around. >> hurry up. >> we have to take blood pressure after the trum diet. >> showing off gun there's. >> i don't know just throwing stuff around. >> i did on left arm before does is it matter. >> don't have much time put on an arm. >> all right. >> i don't know how tv works. >> apparently so. you have a microphone down fronof this is actually i found this on amazon ihealth. >> this is not endorsement for ihel sglj we're not going to take mip but. >> does it detect heartburn. >> let's see what brody's blood pressure was earlier. >> do we have previous readings. >> brody 118 over 68. >> and president was perfect health today. >>

he wins the dodd trophy for college football coach of the year. it honors scholarship, leadership, and integrity. they finished 9-5. they lost the other day to tcu. we will have much were coming up at 10. >>> thank you. >>> thank you for joining us. have a happy new year. we will see you tonight at 10. >> happy new year, everybody. oh, look, saturn 3 is on. i don't want to watch saturn 3. deep space nine is better. how is deep space nine better than saturn 3? simple subtraction will tell you it's six better. compromise. watch babylon 5. in what sense is that a compromise? well, five is partway between three... never mind. i'll tell you what. how about we go rock-paper-scissors? ooh, i don't think so. anecdotal evidence suggests that in the game of rock-paper-scissors, players familiar with each other will tie 75-to-80% of the time due to the limited number of outcomes. i suggest rock-paper-scissors- lizard-spock. what? it's very simple. scissors cuts paper. paper covers rock. rock crushes lizard. lizard poisons spock. spock smashes scissors. sciss

have had more than seven years to determine what the effects are of this new regulatory environment, dodd-frank, what has it meant to our community banks, our community financial institutions? the most glaring aspect of these new regulations is the disproportionate burden placed upon those smaller institutions seeking to comply with these new responsibilities. rather than extending credit to best fit the needs of their customers, banks are exiting entire lines of business because the penalties for making a mistake far outweigh the economic benefits derived from extending a loan. i experienced this damaging news and reality during the senate banking committee's consideration of legislation to reform the secondary mortgage markets in 2014. i was attempting to solicit feedback from kansas lenders on the potential impact of some of these proposed changes would have on their communities, and what i learned unfortunately was this response. jerry, we don't make home loans anymore. when pressed for a reason, they responded that it just didn't make business sense for them to do that any longer due to th

they are also looking at regulations under dodd-frank.ll talk about that a little later in the show, particularly for the smaller community banks in the united states, the benefits of that was also talking about the opioid crisis and that the country -- the company nice to get up on the implications that has. the president speaking live as you can see. from new york, this is bloomberg. ♪\ julia: this is bloomberg markets. scarlet: it is timeout for the sector spied a report with abigail doolittle and turning negative, what sector are you focusing on? applico: earlier, we were going to look at health care pair now the material sector 1.4%. the middle of august of last year. take a look at the biggest are down sharply. 6%. nearly 6%, more than 2018 and 2020, derrek lee to be missed as they are poised to outpace demand in the medium-term. big big drag here. the other factor and part of the reason we have the s&p 500 lower, let's take a look along with oil. lower. emp and names, some of these could have to do with the idea investors don't thi

and they shut down because of dodd frank. they actually care about outcomes.gh policies that make sense. they should not had to comply with anyway. we haven't seen what j.p. morgan will do with the extra savings from the tax plan. they're looking at a lot of different things. it sounded like he will do more on the cost taking costs down. cutting prices for consumers but he's definitely looking at a lot of things. dozens of deaths. how did things get so bad. next our right here. we've helped our investors stay confident for over 80 years. call us or your advisor. t. rowe price. invest with confidence. stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com go to wednesday morning everyone. thank you so much for joining us. it is wednesday january 17. your top stories right now. 70 am on aeschylus. they have just three days to reach an agreement to keep it the government funded. republicans did little to close the gap la

before we get started, we'd like to acknowledge and thanks chief technology officer melissa dodd about the positive aspects about technology and about this policy. we heard tonight in the spirit of encouraging a larger conversation and community. many parnltsds -- parents couldn't be here but a petition that was started three days ago has already amassed over 2,500 signatures. please take the time to read them and know that we as a community support families and the healthy use of technology. thank you. >> public: good evening. thank you for letting us speak tonight. i'm a parent of a seventh grade trojan at roosevelt middle school. one of a handful of san francisco middle schools that allow recreational use of personal and school devices on campus outside of class time. many students are on these devices daly. during their 45-minute lunch break, on various social media sites. we have been in communication with our principal and we applaud his many actions taken around technology, in particular his digital citizen program. and we agree it is a great tool for learning. many students are

into place in two thousand eight still muddying the waters all the way here ten years later chris dodd switch over to tax free for mom what kind of impact do you think we'll see now that trump and the g.o.p. have passed their latest version of it. well we're seeing some i think some very positive developments with companies deciding to give some of that cash in bonuses to their employees that's going to come straight into the economy i've long been a critic that if you want to do emergency cash infusions go ahead and do it money for main street at least then it gets to the places it should money for wall street not a fan of that wall street fritters that stuff away so that's on the positive side i will take the other side of the estimates where they say maybe a trillion dollars in new debts will result i'm going to say that numbers at least off by a factor of fifty percent maybe more it could be two trillion could be three trillion because actually the way they calculated that number first you can disagree with that under any circumstance but they also assumed no recessions are going t

became illegal as a result of the wall street reform and consumer protection act otherwise known as dodd frank became law back in two thousand and ten that's when if a trader makes a bid or an offer to sell a futures contract with the intent to cancel that better offer before another trader except bad actor traders do this to try and push or pull. prices in one direction or another the fines for u.b.s. and deutsche bank are expected to be upward of ten million dollars each while the fine for h.s.b.c. is expected to be somewhat less in august a u.s. appeals court upheld a three year conviction of former cheetah traitor michael kozak who was the first individual to be criminally prosecuted under the spoofing law. while the three day government shutdown ended last week in an exchange for a commitment to consider immigration related issues in the coming weeks the issues of funding president trump border wall and the docket dreamer's remains unresolved artie's natascha suite has more. many wonder if congress will sign off on funding for the wall that the president has been pushing for republi

pages but the wall street reform and consumer protection act of two thousand and ten commonly known as dodd frank a law i worked on in the wake of the financial collapse is eight hundred forty eight pages long and there are close to four hundred regulations related to that various agencies like the one where i served as commissioner were required to be promulgated a fancy word for right or draft. i worked on sixty five such rules and they were every one of them fairly complex but there is one rule in the financial sector that is about as straightforward as you can get it's called the fiduciary rule and it is probably gated that word again by the labor department and it simply says that money managers who advise on plans like for a one case the pension plans put their clients' interests their clients' interests ahead of their own financial interests when recommending various investment products it simply directs investment advisors to put their clients interest first pretty simple right manage their money in a way that benefits them not the investor investment manager got it well now it gets

dodd-frank was passed, how many banks of crossed $50 billion? two. that's it. $50 billion?. recently.somebody that's like being on the runway in a rainstorm. it's a traffic jam of $50 billion banks that aren't growing because of the cost of regulation. they didn't cause the problem. at least congress can help. jonathan: let's take a look let's happening with the yield curve. alix: take a look at the bloomberg. financials are outperforming. you have the two tend -- 210 curve going lower. what is going to wind up hurting banks is the flat yield curve and the deposit data. tom: you hit the fundamental issue on the head. ist interest margin inflected in 2017. that is powerful. margins willgests get better, which helps earnings for banks. a flat yield curve slows it down. deposit data is how fast are banks required to share rate increases? we see the rate continuing to grow. we think it's going to double from 17 it. increase of the rate went to depositors. it will keep building. we've done a lot of work on this. if the fed does three increases, we think the banks will need more

it was put in in dodd-frank for nonbank financial -- don't need to give you a lecture. you know that. taken theas basically companies that were designated and indeed designated them. i assume you did research on that and found out that they were not systemically risky? secretary mnuchin: actually, that's not the case. the only company that we dedesignated as a result of them not being financially systemic was a.i.g., where they had delevered and cut their risk significantly. that's why that judgment was made. that's the only company we made that judgment. senator tester: that decision was -- the dedesignation for prudential and metlife didn't happen? secretary mnuchin: the decision on metlife had nothing to do with the risk of metlife. the decision was there was a recommendation as it relates to a legal case t had nothing to do with the riskiness. and metlife could be subject to designation in the future. the issue was more a legal issue. senator tester: prudential? secretary mnuchin: would follow the same issues. senator tester: the question is, could you confirm that

. >> leaf dodd to. med relief. >> >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain but to educate and teach so call me at 1-800-743-cnbc or tweet me @jimcramer. how many darn sessions can you have in one day? we have a fabulous rally we have a hideous nose dive. then we have a miraculous. that is three, count them three sessions in one. let me walk you through it i am going to go blow by blow so you understand this morning's stock opened so strong i wrote a piece, please, don't chase this rally you have bad news out there. from united continental. devastatingly series of reports about a collapse, wholesale collapse in sales for the new iphone not to mention a damning story about the quarte

i'm here with chief melissa dodd from department of technology. and the reason we're doing this tonight, it's our hope that we're here tonight to recognize 12 schools, but it's our hope that we will have at least 90 schools -- our goal is 90 -- and then san francisco will be one of the first digital school district in the state or in a lot of places across the united states, best in the world. 90 is our goal. we have 12 tonight. we're recognizes to recognize them. i will call up dan frost, who leads this effort from the department of technology to acknowledge the 12 schools that are here that will receive their banner. >> big welcome. we're well on our way for getting 90 schools this year and i cannot wait to get our district certified. ladies and gentlemen, this is the banner that all schools will be getting. join me in recognizing these schools. paul revere. [applause] presidio middle. roosevelt middle school. jefferson elementary school. [applause] independence high school. [applause] glenn park school. [applause] gene parker. [applause] and no

senate, just advancing a measure on regulatory relief -- when do you think community banks get some dodd-frankelief? >> i hope in the first half of the year we will able to get mr. mcconnell to bring up the crapo bill. promptly will respond once we see that action in the senate. i am optimistic that can be done in the first half of the year. kevin: no qualms about the crapo bill? >> i think it is modest but covers a lot of ground and will produce benefits for consumers and for community banks. issues,n terms of other the hot topic being immigration. going to get some type of deal by march 5? >> i hope when we are on retreat this week, the republican retreat is this week. the kind get precisely of views we get on an equitable deal for dreamers and the other component of the immigration deal. i want to complement the white house on consistently having the four principles that were agreed to. then, put forward a concrete proposal last week. i believe the white house is trying to be constructive and bipartisan in their approach. kevin: just under minute, for our global audience -- what happens nex

eastern time today and for all the arguments around dodd-frank and all of that, i don't know if thishat i think in some ways people will say, look at the profits, this is starting to work in a big way. separately, after the bell, we will get results from american express and ibm. watching both of those very closely. president trump about to mark his full first full year in office has his tough love for the auto sector paid off so far phil lebeau joins us right now phil >> becky, he's probably had nor success in terms of influencing the auto makers. when you look at the first year of the trump administration and the impact on the auto sector, take a look at the announcements that have been made not necessarily decisions that have resulted in plants or shifts added. but clearly, we've had a number of automaticers announce either an expansion or upgrade of u.s. auto plants. you also had within the last couple weeks, toyota and mazda, deciding to add a brand-new assembly plant in alabama. mexico's auto imports are up over the last year, remember when donald trump was campaigning for pres

were looking at dodd frank so the banks can loan money to people. they were restricted. a person came up to me at a recent stop and said, all my life i did business with a certain bank and now they can't do business with me. they're prohibited from doing it. now they can do business with that person again. but the regulations had a lot to do with this success. without taking off those regulations look what we did in terms of pipelines, 48000 jobs from day one. on things that were never going to get built. we are plants all over the country and toyotas nipping back. chrysler is leaving mexico and moving back to michigan. you haven't heard that one in a while. [applause] one of the important things were doing is doubling the child tax credit. that's important to all of us. america can now deduct 20% of their business income which is something people did not expect they would be seen. my presidential budget was the first in history to include a nationwide program for paid family leave. [applause] and we are partnering with communities to and this drug addiction that has pla

there has been consensus that dodd-frank has been stern on these smaller banks.y: there is a for id different things that could happen as tax unfolds. -- there is a variety of different things that could happen as tax unfolds. our idea is we will see a pickup in the economy. there are assumptions for gdp improvement here. that is good for loan growth as it relates to some of the investments we talked about. we have heard banks raising couple ofges, a different institutions have done that. that will drive demand up as well. lastly, the investment spend in tech which we think globally, we put this out and our late now, we think globally you will get a net $60 billion improvement and inefficiencies -- and efficiencies. expectedof total bank -- expenses abimelech several years. more,: you may not know but what about this idea that banks are restructuring because fid?yth it -- mi wesy: mifid ii is something think will have an impact on the industry overall. it has not in a huge piece of our research, mainly because we believe that the larger players will be taking sha

we passed an important bill called the financial choice act that's essentially rewrites dodd-frank. want to get that into law, but i'm not going to shut down the government just because of my pet legislative item. chuck schumer and the democrats want to shut down the government over their pet legislative item. by the way, there is no deadline until march. we want to deal with the daca. issue come up what we want to make sure there is not future issues p tha. that means there has to be border legislation. our church and not getting paid. god forbid one of them loses their lives. chuck schumer says h is doing wt he says he would never do. nancy pelosi called this legislative arson. chuck schumer said this was taking a hostage and now they're doing it. unfortunately it's quite hypocritical. kevin: republicans over the weekend, including lindsey graham, have criticized negotiators like stephen miller. how would you grade the administration's negotiation tactics with democrats on this? rep. hensarling: i agree with the president 100%. you don't negotiate when you have a gun to your head.

i think this yierl see dead frank -- you will see dodd-frank adjustments.y the way, disposable income, debt servicing because of disposable nicks at an all-time low. if you lose your house and car during recession, sadly you don't have that's bills anymore. but having said that, homebuyer optimism foot traffic is through the roof. in december 2016 it expands for the first time since 2005. it has been that long it was in contraction for that's months, that's years. kennedy: you are talking about two generations of people who assumed the value of their home would go up and up it's taken some time but things seem to be turning pretty quickly. but not for gen-xers. over a third believe they will never have enough money to retire. of course, 9/11. so what do you tell a group of people who have always believed social security is not going to be there for them but they also haven't put enough money away in 401ks and iras. charles: to your point, they don't believe social security will be enough. and the lock box empty. but they haven't done what it takes to get it

andrew: that brings up a good point because in the united states, we see a rollback of dodd-frank butn europe, increasing regulation. there will be a difference between the regulatory infrastructures for the foreseeable future. instancesere will be where firms can comply with rules in the united states but not in europe and vice versa. the happiest people with respect to these rules besides investors are going to be european lawyers and american lawyers. mark: it has to be potential -- it reaches beyond banks and financial companies in london and frank for, anyone that trains -- traits stocks or bonds -- trades stocks or bonds has to comply that appeared this is not a european-centric issue, is it? andrew: it is a global issue and with respect to this legislation , it appears europe is taking the lead in cleaning up the securities industry. after 2008, there are hundreds of millions of people that do not trust the markets. people said the markets are rigged. we can debate whether it is true but the point is this piece of legislation is attempting to restore credibility in the markets.

with the dodd-frank, and exchange regulations that have been layered on over the last 20 years, we can a community, say what is a regulation that levels the playing field, and what is regulation that might be hurtful to business? erik: news a loosening of regulations by definition something that makes it easier for dodge year and fraudulent -- dodgier and fraudulent companies to go public? you are stifling business, on the other you are .ot protecting customers we can look at things smarter than we are. the fcc simple act, allowed all companies to file a prospectus with the stroke of a pen. that doesn't hurt any investors, it encourages companies to go through the process of going public, because there is less risk that if they choose not to go public their competitors know all of their business. erik: there is a growing number of competitors for listings. long-term stock exchange. other companies want to take your leadership role away in etf. what is the strategy? >> the conversation in davos on competition is the new york stock exchange, the london stock exchange, the hong kong stock

that would fix dodd-frank. they're looking for something to take out to the voters. beyond that, i agree with kate. i think the large stuff that donald trump want to do is going to be very difficult. paul: they have to do a budget. they got to do that, right, kate? and i know paul ryan wants to get a two-year budget because he wants to bust the budget caps that restrain defense spending and give a defense spending increase but you need 60 votes for that in the senate. so the democrats want dollar for dollar basis which means a lot of people are going to have to swallow things they don't like. >> the defense debate is subject to this odd left-right cross fire. the left wants dollar for dollar even though defense has taken a much bigger hit than the discretionary account. it's silly to say all are equal and should be funded dollar for dollar. there's also on the right a group that doesn't want to increase the deficit and worries about runaway spending. that's also the wrong hill to die on in this budget debate because we know that the threat to the treasury is from int

as dodd said, let us have a president that lifts us up not bring us down. i've never seen a president that's been so divisive purposely as this president has. >> and nixon's tapes are an embarrassment to the nation. we never thought we'd see it broadcast in realtime given our america tonight. we have more nobel prize winners, disproportionally immigrants. trying to dress this up as a policy conversation i think really doesn't deal with the heart of the ugliness what was said by the president of the united states. >> let's get to this then. that is why this whole talking point that this is about economics and not race is false. if you actually look at the numbers and read the numbers and do some research, this is not about economics. this is about flat out racism. >> and when he said i want more norwegians, what is that about? >> and when he said i want more americans, what is that about? >> it's an insult to asian-americans to suggest they somehow are the only race that's acceptable to come in and other races are not. because that's suggesting that asian-am

. >> i wants dodd draw that to your attention. that's what i do. draw this to your attention now. ultimate doppler radar. yeah rain is switching over to snow now in the middle of south jersey. but we have a few dry spots here and there as we said all morning it's not the strongest storm you'll see snow-wise it's very inconvenine time. so four out of ten on account of the messy morning we have with bus stop buddy and ready for a cold day. because after the snow ends there you see it there, we will probably see colder temperatures than we are now. 4 degrees at the current time. 27 is the windchill. and remember that. we got a winter weather advisory for most north and west and then winter storm warning. 33 degrees is where we'll settle probably this afternoon with cold breeze at about 0 miles an hour. and then when we plunge into the teens tonight there will be a lot of slippery spots. everything wet right now bob kelly will be frozen solid tonight. >> that's really what we have everything is wet and all the brian we have down it's a sal salting oper

bill dodd aimed the bill to reduce fires caused by downed fire lines. electric utilities would adopt new policies and deenergize power lines when extreme weather is in the forecast. it is expected to have its first committee hearing in march. and more details now, just over 100 days since the fires in the north bay and orange county and now a better idea of the progress in the cleanup. 4,500 homes have been deemed eligible for financial assistance. more than $14 million in grants were handed out. >>> the harlem globetrotters are back in town this weekend to amaze the bay area with their mad basketball skills. >> "today in the bay's" bob redell got schooled. >> the world record for spinning the ball the longest on his nose, 7.7 seconds. what's going to be different? >> you'll see a lot of slam dunks and crowd participation unrivaled in sports. we're going to challenge you to a trick shot. >> i'm going to spin the ball, bounce it off my knee, off my head, off the backboard while holding a darth vader death grip on you. >> reporter: wait, what? i'm going t