flawed framework, is none other than former chairman of the house financial services committee, barney frank. the very frank of dodd-frank. the co-author of the dodd-frank act. he himself has said that this provision in the dodd-frank act, that many of us are trying to reform today, is, quote, arbitrary, unquote. and, quote, a mistake, unquote. those are his words, mr. speaker, not mine. that arbitrary and mistaken provision is dodd-frank's one-size-fits-all standard that subjects banks with 50ds billion or more ins a -- $50 billion or more in assets to the same costly and cumbersome sifi regulatory standards as trillion-dollar global systemically important institutions. we should take note that this flawed standard has now been criticized by federal reserve chair janet yellen, former federal reserve board governor, dan tarulo, former controller of the currency, thomas curie, and many other obama appointees. in other words, mr. speaker, it's that bad. mr. luetkemeyer's bipartisan bill, again, very strong bipartisan bill, replaces this inflexible flawed $50 billion threshold that has been cri

even chairman barney frank, the co author of dodd frank, when he wrote about the threshold, he wrote that it is arbitrary. he also went on and called it a mistake. this is former chairman frank of his own signature law said the $50 billion threshold was arbitrary and a mistake, it fails to take into account differences in the various business models institutions posed to the financial system. let's keep in mind today, this is simply -- not simply a debate over an arcane definition in law. frankly of the effect these regulations have on the u.s. economy. instead of helping to capitalize small businesses which leads to jobs and opportunity for americans who still lack both. financial institutions are needlessly expending capital on compliance. compliance that again even the co author of dodd frank admits is being spent to comply with a mistake. the american people deserve better, it is time to restore economic growth fueled by capital flowing from american banks and financial institutions to communities all across the nation. i welcome your questions and thank you for the opportunity t

barney frank leaving the senate. -- i'm sorry, al franken. i'm being too old school.eaving the senate and he didn't respond because he knows who he is endorsing. he knows who roy moore is accused of doing. he doesn't want to comment about anything else. about franken. thank you for creeky me. >> i'm always here for you, girl. >> part of this too is the president making a calculation in the same way that roy moore has. that's to run a hard right conservative campaign that is defiance in the face of these accusations like president trump and to run on issues like abortion and other things that conservative voters are likely to be voting on. that's where the president is doubling down. i think the president is trying to accelerate a big cultural divide over this sexual harassment issue. he is going to say the claims are just false. like me he is standing up against them. i are going to see him assert more. >> very few republican senators in this endorsement as you know, the president is moving forward and forced the republican national committee to do the same thing relu

. >>> and, barney frank will join us next with his reaction to this 1,100 pages of tax legislation. i'm never gonna be able to sleep with this cold. i'll take a sick day tomorrow. on our daughter's birthday? moms don't take sick days... moms take nyquil severe. the nighttime, sniffling, sneezing, coughing, aching, fever, best sleep with a cold, medicine. ower 3 toddlers won't stop him.. and neither will lower back pain. because at a dr. scholl's kiosk he got a recommendation for our custom fit orthotic to relieve his foot, knee, or lower back pain, from being on his feet. dr. scholl's. born to move. wifiso if you can't live without it...t it. why aren't you using this guy? it makes your wifi awesomely fast. no... still nope. now we're talking! it gets you wifi here, here, and here. it even lets you take a time out. no! no! yes! yes, indeed. amazing speed, coverage and control. all with an xfi gateway. find your awesome, and change the way you wifi. >>> the republican leader and others claim that this bill would not add to the deficit. we know now that even under the dynamic scoring

. >>> and, barney frank will join us next with his reaction to this 1,100 pages of tax legislation. statins lower cholesterol, but can also lower your body's natural coq10. qunol helps restore this heart-healthy nutrient with 3x better absorption. qunol has the #1 cardiologist recommended form of coq10 qunol, the better coq10. >>> the republican leader and others claim that this bill would not add to the deficit. we know now that even under the dynamic scoring method the republican party asked for and received this bill would add a trillion dollars to the deficit. all the claims that tax cuts for the wealthy and corporations will pay for themselves were not correct. it's time for my republican friends to admit the error and come clean with the american people. >> joining us now, barney frank, former democratic congressman from massachusetts, former chairman of the house financial services. barney, it's 1,100 pages. i haven't finished reading it yet since we just got it today. i'm sure that leaves me alone among those who haven't read it yet. but what do you make about this bill and

. >>> and, barney frank will join us next with his reaction to this 1,100 pages of tax legislation. this is electricity. ♪ this is a power plant. this is tim barckholtz. that's me! this is something he is researching at exxonmobil: using fuel cells to capture carbon emissions at power plants. this is the potential. reducing co2 emissions by up to 90%... while also producing more power. this could be big. energy lives here. but he hasoke up wwork to do.in. so he took aleve. if he'd taken tylenol, he'd be stopping for more pills right now. only aleve has the strength to stop tough pain for up to 12 hours with just one pill. aleve. all day strong. turn up your swagger game with one a day men's. ♪ a complete multivitamin with key nutrients plus b vitamins for heart health. your one a day is showing. >>> the republican leader and others claim that this bill would not add to the deficit. we know now that even under the dynamic scoring method the republican party asked for and received this bill would add a trillion dollars to the deficit. all the claims that tax cuts for the wealthy and c

. >> i'd say this, this is the party that has the legacy of barney frank with jerry stubs. legacy of bill clinton, and i say this, republican party doesn't have the high ground either. we're the party of bob packwood, larry craig, both parties have members who have done things that we're all embarrassed by. i'd like to say when i was in leadership, we had to deal with duke cunningham, for example. what happens in these congressional scandals, it's a collegiate body, and you like everybody. democrat or republican, you say, i believe them. you start looking at it, and you look under the hood, it's not true. i think probably what happened with both of these gentlemen today, the ethics committee looked under the hood and said, this isn't 7 women there are a lot more, you can't with stand the on slaught that's about to happen. i think the democratic party and the republican party have made practical decisions. tim murphy, i think he did the same thing today with trent franks. >> what about donald trump and roy moore? >> i think in terms of roy moore, he is denying it. and i thin

i just want to say, you've changed since barney frank and anthony weiner and bill clinton himself.d to see this born again attitude of the democratic party. maybe there will be some other issues. >> where's the republican party and the family values? the evangelicals are support in roy moore will scream holy hell because they have to bake a cake for a gay couple? >> we have shown with people like duke cunningham and mark foley and john inson, that we will discipline our own and we are going to do that. i think we are in a dilemma on roy moore. it's a very difficult decision for the voters of alabama. i have counted the outline of the case for roy moore, but i actually would i'm going say this, maria. not just to struck the pot on the way out the door. if not for roy moore, i believe al franken would not be having the problems, he would not be having these problems for resignation. hits him streenlgically. >> you're about to welcome a child pedophile to the senate. >> that's an interesting point. >> is it a one for one? of course look to many watching -- >> democrats are -- >> thank

who have made up their minds that they were going to out themselves, come out -- i remember when barney frank was so mad because somebody outed him. i remember sitting in the green room on abc, they were saying, i guess we can use them anymore, he was outed as gay. it really happened. i think part of it is the people who were involved decided themselves to actively move in ,he way they did on the issues and part of it is that somebody knows everybody come and when when peopledy, and did, it was easier, and saying gays were only interested in having families. the picket fence strategy worked, because people used to think that gay people were wild and stayed out all night and got drunk and had many affairs and were promiscuous. they just want to have a house and some kids and a family like us. i think that helped a whole lot. i am glad it happened, but i think all of those had something to do with it. >> really interesting. dr. alan. >> i assume you mean the same question. >> a good assumption. >> i can't embrace the assumption. i think the country is fundamentally a country of people committed

i mean, this is the party that has the legacy of barney frank, with jerry stubbs, it has the legacy of bill clinton, and -- and i say this. the republican party doesn't have the high ground either. we're the party of bob packwood, larry craig. so i think both parties have members who have done things that we're all embarrassed by. i like to say, when i was in leadership, we had to deal with duke cunningham, for example. what happens in these congressional scandals is, your it's a collegiate body and you like everybody, democrat or republican behind the scenes. and then somebody comes to you and you know them and they say i'm innocent, this is all partisan, and you kind of believe them. then you start looking at it, and you look under the hood, and say, whoa, that's not true. i think probably what happened with both of these gentlemen today is that the ethics committee looked under the hood and said, wait a minute. this isn't just seven women. there are a lot more and it's going to be drip, drip, drip. it's not good for the institution. you can't withstand the onslaught that's about to

and our former colleague and former chairman of this committee, barney frank, was recently quoted as saying, well, perhaps i -- i paraphrase, this statute could have been more clearly written. so, again, you will not find the word "vacancy" in this section. mr. cordray is -- the director is not absent. the director is not unavailable. there is no director. he resigned the office to pursue his political ambitions back in ohio. and, again, the only court that has opined on this has opined in the president's favor. the legal counsel -- the legal counsel of the cfpb itself has ruled and opined in favor of the president. this is just an unsupportable position to take. it is unfortunate. i think it is derived from people who still haven't accepted the outcome of the last election. and i think it comes from a realization that the statute underlying the cfpb is a flawed statute. and so in some respects, we ought to take this beyond a fight between president trump and president obama. and it really shouldn't even be a fight between the right and left. it ought to be a fight between what is ri

barney frank had his live-in lover running a house of prostitution.ere you are going here. if that does not happen and moore were to lose tonight, i almost get the feeling there would be relief among a lot of republicans. do you? >> yes and go. it's interest -- yes and no. it's interesting to see democrats pivoting away from russia to become the party of moral values. the democrat party and their allies in the hollywood and the mainstream media, if they become the party of moral values, that's the equivalents of a triple axle, triple toe. i'm not very well informed but i can think a couple myself and i don't work for "the washington post." kennedy: i can see where he's going. i am wondering there is room in the sedan. it's interesting. i'm wondering if mitch mcconnell is exercising his options and if that includes obviously he has to be seated. that's a constitutional question that was settled in a supreme court decision in 1969. he will, if he's duly elected by the people of alabama. what can the republicans do? what are some of their options in orde

even barney frank, author of dodd-frank, has said the $50 billion threshold is completely arbitrary and has had negative implications on our economy. this legislation closely ties the safeguards intended in the designation of a bank holding company with the risk to the system. my legislation will require the federal reserve to examine not just size but also interconnectedness, the extent of readily available substitutes, global cross-jurisdictional criteria, criteria they use in their own risk calculation analysis. an inefficient regulatory structure can have real economic consequences. we should no longer let the sifi process lead to marketplace disruption or penalize companies based on size alone. it's time to take a more pragmatic approach to this process and more generally the punitive regulatory regime hitting financial institutions and their customers. it's time to actually manage risk and limit real threats to our financial system. this legislation received broad bipartisan support when it was reported by the financial services committee with a vote of 47-12. that means nearly 80