. >>> remember barney frank? remember he is how to spend the half completed dodd-frank to his former peers. stay with us. when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. ♪ i voted for culture... ...with a 'k.' how are you? i voted for plausible deniability. i didn't kill her, david. and i voted for decisive military action. ♪ xfinity presents the people's hotlist where you choose this summer's top 100 shows and movies. and all you have to do is watch with xfinity on demand. now through july 23rd. vote! when you're voting for this summer's top 100 shows and movies wit

we will get the reaction of chris dodd and barney frank to where the bill stands today, the impact that it's had and a lot more. >> looking forward to that very mu much. also, netflix bucking the trend today, trading higher by about 1% ahead of earnings that are due out about an hour from now. netflix kicking off an avalanche of major earnings from some of the biggest and most influential companies on wall street. we will have the numbers, we will have the analysis, the market response, all of that that only "closing bell" can do, so don't go anywhere. >> yeah, we're really getting into the thick of earnings this week. after hours today. it picks up tomorrow morning. a lot to watch for. here's where we stand on the markets right now heading toward the close on this monday after such a difficult end last week with so many geopolitical events swirling about. the dow jones industrial average off 38 points or about 0.25%. the nasdaq is off only about 4 points this hour. in fact, it's less than 0.1%, as you can see there. and the s&p, for its part, down about three points to 1,974. bill? >>>

and i, too, welcome the panel and especially our former chairman and my friend barney frank. it's a real pleasure to have you back here. i want to make an observation about the 80-page reflection that the majority produced on dodd/frank. i read it closely and carefully and what is most interesting to me about that, and this opportunity on the fourth year an verse of the passage of dodd/frank, what's most interesting is the dog that didn't bark. it has for four years, of course, been the practice of the other side to abide by the idea that if you don't have something nasty to say, say nothing at all. and the 80 pages on this fourth anniversary are related exclusively to title one and title two, two titles of a 16 title bill. the reflection in the 80 pages makes no mention of the billions of dollars that have been returned to some pretty badly abused consumers. no mention of the fact that the cfpb is stopping the selling of toxic mortgages to american families. no mention of the first meaningful regulation of the massive derivatives market, a market which was at the very center

joining me is joan walsh and congressman barney frank and ann lewis, a senior adviser to hillary clinton sister, we originally had pr planned to do this another weekend but news overtook it. >> we're still a team. >> still a team. >> here they are sitting right next to each other. ann, mark rufalo, the critique that he just read, is that something that hillary clinton is aware of? >> oh, i think anybody watching the news would be aware and if people look at the record that she already has, fighting to raise minimum wage, raise the minimum wage and pay the mothers what they are worth. she strongly supports tax cuts for the very wealthy. she's been secretary of state. she advocated for programs like microfinance which can help raise for american businesses, work for american jobs. she will have a lot to talk about and a whole set of policies that will be appropriate. >> barney, are you one of these ready for hillary clinton? >> very much so. you know what i would recommend to people, one of the most articulate advocates for fundamental change in the american policy to deal better with ineq

joining me now is former congressman barney frank, he is now an msnbc contributor. you, mr. frank have spent a lot of time in that chamber, have you ever seen something like this? >> no. as a matter of fact i've been sitting here humming in my head or singing in my head, the line from guys and dolls. sue me, sue me, what can you do me? this has been reduced to the level of bad musical comedy. unlike guys and dolls which is a good musical. the inconsistencies here are replete. it's been the conservatives who said restrain the unelected judges, let the elected branches do their job. and in particular they've upheld the concept of standing. the courts only deal with disputes. and that has been for all of our history, tightly interpreted to mean you can't just sue because you disagree with the policy. you can't just sue because you think somebody's misinterpreting the constitution. you have to show that a particular action negatively affected you that is different than anybody else. that is absolutely totally different from this. they used to be on some lawsuits where the presid

on the democratic side, beloved liberal congressman barney frank also survived his own special variety of hooker scandal. before congressman frank came out as gay, his then-secret boyfriend in washington turned out to be running a gay prostitution ring out of barney frank's apartment. not so much as it was his secret boyfriend's prostitution ring he says he didn't know about, but still massachusetts elected him for another 13 terms before he retired last year with a reputation that could not have been more positive. democratic new york governor eliot spitzer, he chose to resign his office after he admitted to repeatedly patronizing prostitutes in what turned out to be many some very nice washington, d.c., hotels including other locations. he resigned as new york governor then tried a comeback. ran for new york city comptroller. the comeback failed. he lost. in the space of three weeks in 1976, there were two separate amazing congressional hooker scandals. democratic congressman named allan howe of utah, charges of soliciting two policewomen posing as prostitutes. he lost his seat in co

when you outsource that responsibility to government like barney frank says we should government is what we do together is what he says. i think that unwinds community. i think it unravels the fabric that holds us all together because an excuse not to take responsibility. >> host: but if you take the responsibility state to care for the poor, the hungry and clothe the and house the homeless if you take that away from the government doesn't fall on you and you to have a responsibility to feed a hungry person help poor people? >> guest: i think you do and our evidence in the united states and our evidence in community sentiment left free shows that exactly what happens when free people are left to solve problems. you care a lot about your community. it's harder to care about something that's 3000 miles away or six countries away. it should happen from the bottom up. once you outsource that to a third-party even if it's voluntary organization but particularly a government organization someone else's agenda comes and then you don't know who needs help and who's getting -- gaming the system.

without hearing him is no barney frank at all.i am pleased we will all be able to hear you today and i hope to hear from my republican colleagues about just how close to the franqui came in 2008 and about why congress and the president responded forcefully with your namesake legislation in the dodd-frank wall street reform and consumer protection act. i'm hoping you will recount the income to pull widespread human suffering that was inflicted upon millions of americans suffering that still continues to this day day how years of deregulation blacks enforcement and zero accountability for the nation's financial institutions destroyed more than $13 trillion in economic growth, 16 gillian dollars in household wealth and led to millions of foreclosures and devastating it unemployment. in the aftermath of democrats and some senate republicans passed dodd-frank which provided oversight to wall street comic if regulators the tools to end the era of too big to fail entities and taxpayer bailouts and eliminated loopholes to go unnoticed and

and when you outsource that responsibility to government like barney frank says we should -- >> host: yep. >> guest: -- government's what we do together, is what he says. i think that unwinds community. i think it unravels the fabric that holds us all together because it's an compute not to take responsibility. >> host: so, but if you take the responsibility, say, to care for the poor, to feed the hungry and clothe the naked and house the homeless, if you take that away from the government, does it fall be on to the individual? do you, matt kibbe, have a responsibility to feed a hungry person, to help the poor people? >> guest: i think you do, and i think that our evidence in the united states and our evidence in communities that have been left free shows that that's exactly what happens when free people are left to solve problems. you care a lot about your community. it's harder to care about something that's 3,000 miles away or even, you know, six countries away. it should happen from the bottom up. once you outsource that to a third party even if it's a voluntary o but paragraphly

former massachusetts congressman barney frank, a longtime sponsor of that bill.e appreciate you being here. tell me first, do you still support enda in its current form? >> well, i'll have to give you two answers. if i thought the votes were there in the congress, where i no longer serve, to increase its scope, i would be for that. on the other hand, i accept the judgment of the very dedicated people, gay and straight, who are pushing for this now, that this is the best we could do in the current political situation. so then the question is, as it now stands, an improvement? the answer is clearly yes. one of the things i haven't seen is what they were doing. first of all, whatever congress would be saying about religious exemption, it would unfortunately be subject to that supreme court decision with regard to the religious exemption. so that's problematic. secondly, there are a number of states now that have anti-discrimination laws protecting people like me. many of them have narrower religious exemptions. to the extent that those can be held, passing enda won'

barney frank retired from congress in 2013 after serving for over 20 years. here's air porti here's a portion of his testimony from today. >> you are now recognized for your testimony. >> thank you, mr. chairman. i apologize that my written statement was not in the form -- it was a last minute thing, and i -- on the other hand, i think any problem with the element of surprise is probably -- not a problem here, i don't think any of the members of the committee will be surprised by what i say. i want to begin with the too big to fail question. and the issue, i think, is an interesting one, first of all, as i said, and what i did write, i thought -- i was surprised myself, at how bipartisan the committee's report was. for instance, in saying that this whole problem started with ronald reagan in 1985 with continental illinois, the committee reports this began with ronald reagan in continental, illinois and it was continued by bill clinton with alan greenspan. but the report clearly puts most of the blame on george w. bush, and his aids. mr. paulson and bernanke,

so i've got to go to barney frank. just talk about what we have done and what you have done to be of assistance to small banks and community banks. >> well, a couple of things. first, on the point you raise, i am again very surprised to hear my republican friends now say our problem isn't we have toughened up the standards for banks to low-income people. i thought that was pretty general agreement that was part of the problem. although there is this myth that somehow the democrats were pushing for these loans. in fact, during the period from really the mid'90s, it was people on our side who were trying to restrct these abusive subprime loans and were restricted. we passed the homeowner equity protection act. mr. greenspan wouldn't use it. a number of states, including georgia, passed laws to restrict subprime lending abuses and the bush administration preempted it and said no such laws. and i was working with spencer bachus. sheila baird notes we were trying to put legislation through to regulate subprime loans. and th

marginal dollar is that going to be hurting people or isn't that just doing things together as barney frank says. >> guest: is forcing people to do what they otherwise wouldn't and it is literally at the point of a gun. you don't get to choose if you pay your taxes even though the irs talks about voluntary compliance there is nothing voluntary about it. there's nothing voluntary complying with epa regulations or frankly any bureaucratic dictator. now it is different in the united states because being forced is a fundamentally act iii crashing. but in eastern europe and a place like lithuania or the country of georgia and talk to the people there, they remember seeing their family members shot in the street by the government that's different and in the sensa senseamericans don't apprt the government is all about the way it operates in the country is more benign. >> host: the liberal pushback is r&d different in kind isn't the press of communist bloc dictatorship or just any dictatorship it really is different. >> guest: the government that isn't hurting people into taking their stuff in hist

>> they saw the barney frank interview. >> and they wanted toula emulat it. >> all right.l, i'm 55 years old and i have diabetic nerve pain. the pain was terrible. my feet hurt so bad. it felt like hot pins and needles coming from the inside out of my skin. when i did go see the doctor, and he prescribed lyrica. it helped me. [ male announcer ] it's known that diabetes damages nerves. lyrica is fda-approved to treat diabetic nerve pain. lyrica is not for everyone. it may cause serious allergic reactions or suicidal thoughts or actions. tell your doctor right away if you have these, new or worsening depression, or unusual changes in mood or behavior. or, swelling, trouble breathing, rash, hives, blisters, changes in eyesight, including blurry vision, muscle pain with fever, tired feeling or skin sores from diabetes. common side effects are dizziness, sleepiness, weight gain and swelling of hands, legs and feet. don't drink alcohol while taking lyrica. don't drive or use machinery until you know how lyrica affects you. those who have had a drug or alcohol problem may be more

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they're saying we are living in a barney frank era. better off not having the people buy homes. >> is is a discussion. the problem for the overall economy is it does not add to growth the way housing does. part of the reason we saw first-quarter contraction is housing subtracted from growth. we are still a million jobs short in the construction industry from where we are at the peak and that hurts us all. >> thank you for giving us the latest. coming up, we will -- you thought michael mckee would be the most important person we would hear from today. maybe. president obama speaking live. running 20 minutes late. we will take you there as soon as he comes out. ♪ battle for time warner is a reminder sports content is king according to sean mcmanus. this fall the new home of thursday night football. withrlichman caught up him. what did he have to say? >> really getting the word out about football. thursday powerful night lineup. i started with getting his reaction. the ceo reaction when they got the rights to thursday night football. >> i

he is joined by the former house financial service chairman barney frank who along with senator dodd passed the reform bill. the comptroller of the agency in boston hosts the event. >> we welcome our first panel i would like to introduce you to suzanne duncan the moderator of the panel. panel. suzanne is the head of global research at state street bank. she is the author of scores of white papers and manuscripts particularly in the area of the investment management you will see her commentary on almost every major media outlet throughout the globe but the thing that we are most proud of that she is a member of the board of advisers of our center for finance law and policy. suzanne will introduce sheila bear. >> thank you very much for the opportunity. i'm honorei am honored to be moa panel that really needs no introduction. we have with us today jerry who is the chairman of goldman sachs bank usa and former president of the federal reserve bank of new york and federal reserve bank of minneapolis. we also have sheila bear who is a former chairman of the fdic and currently serves as a

we'll talk to enda's early sponsor, former congressman barney frank. >>> and the flipped classroom.d. that is today's big idea. >>> good afternoon to you all. i'm t.j. holmes inay

so i'm going to go to barney frank. let's talk about what we have done and what you have done to be of assistance to small banks and community banks. >> a couple things. first, on the point you raised, i am, again, very surprised to hear my republican friends now say our problem is that we have toughened up the standards for banks to low-income people. i thought that was a general agreement that was part of the problem. but there is this myth that somehow democrats were pushing for these loans. in fact, during the period from, really, the mid h-'90s, it was people on our side that were trying to restrict these kind of loans, and we passed the home protection act and he wouldn't use it. the state of georgia passed laws to assist subprime lending abuses and the bush administration preempted it. then i was working with brad miller and mel watt from the democratic side. we were trying to put regulation through to regulate subprime homes, and the public leadership shut it down. and on the day this committee wants democrats i

his guests will include former congressman barney frank and his sister ann lewis in a special familyainst the clock." will you not want to miss that. first, melissa harris perry is up next. she'll be talking about the journey of extraordinary testimony to paul ryan's budget committee. stick around. nerd land is next. thank you for getting up and thanks to the "up with steve wi steve" team for having me sit in this chair. ging my symptoms, except that managing my symptoms was all i was doing. ♪ when i finally told my doctor, he said my crohn's was not under control. ♪ he said humira is for adults like me who have tried other medications but still experience the symptoms of moderate to severe crohn's disease. and that in clinical studies, the majority of patients on humira saw significant symptom relief. and many achieved remission. [ female announcer ] humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections and cancers, including lymphoma, have happened; as have blood, liver, and nervous system problems, serious allergic reactions

this as 2010, body, this body, led by the financial services committee chairman at that time, barney frank from massachusetts, passed what has come to be known as the dodd-frank act. named after chairman frank on this side and chairman dodd over on the other side. the dodd-frank bill. it went after wall street. it went after wall street. this was in the aftermath of bank failures. this was in the environment that folks were concerned about what the economic future of america would be. much like they are still today. this purported to solve so many of these challenges through more regulation. now, we can argue about whether or not this was a good plan, bad plan. i think it's costing us with economic growth. not helping with economic growth. that's not my point here today. my point here today is that as a body, as a u.s. house of representatives when we passed that dodd-frank bill which went over to the senate and was passed and went over to the president's desk and signed and is now the law of the land, we created an agency called the commodity futures trading commission and we specifically

so i'm going to go to barney frank. let's talk about what we have done and what you have done to be of assistance to small banks and community banks. >> a couple things. first, on the point you raised, i am, again, very surprised to hear my republican friends now say our problem is that we have toughened up the standards for banks to low-income people. i thought that was a general agreement that was part of the problem. but there is this myth that somehow democrats were pushing for these loans. in fact, during the period from,