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for my colleague bill dodd is here in half an hour's time but for now it's spotlight. the for. the. oh yeah who walked into the spotlight the interview show. i'll do now then today my guest on the program is jay so unfair to. hip hop and written of those up the world stage today these so-called black styles originate in the religious carl singing the famous gospel as more and more country style both laugh together russia just couldn't stay or suck one of the biggest days in the gas belt is the oakwood universities elliot's they came to moscow that's part of the american season's first in my studio today is jason the third night of the conductor and leader of the famous american frog. modern gospel can be traced to the eighteenth century but in fact it's originates in the two thousand year old church music in the beginning of the trenches century gospel transcended church services and became an independent jam or through the years its influence community has more than music styles and artists like elvis presley and ray charles and michael jackson used gospel elements in their music v
for my colleague bill dodd is here in half an hour's time but for now it's spotlight. the for. the. oh yeah who walked into the spotlight the interview show. i'll do now then today my guest on the program is jay so unfair to. hip hop and written of those up the world stage today these so-called black styles originate in the religious carl singing the famous gospel as more and more country style both laugh together russia just couldn't stay or suck one of the biggest days in the gas belt is the...
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call that wrap things up for me and my colleague bill dodd will be coming in here with a full look at your news in about thirty minutes time but coming up our t. lifts the lid on what made a respected british government official turn to spying for the soviet union that's in our special report next right here on alt. his life was shrouded in secrecy and he left a remarkable legacy. he received decorations from the spanish dictator franco and queen elizabeth of britain. he shook hands with a hitler aide and swiftly moved to the top of the british intelligence service. but the whole time he was in fact the soviet agent. many saw the one rebel that kim philby an equal during his life and a quarter of a century after his death it's still the subject of continuing debate. became bridge graduate realizes what's in store for him when he agrees to a go to regent's park in the center of london for a secret meeting. but he couldn't even imagine how dramatically his life would change after that talk with a stranger. one economic crisis breaks out in the west in the one nine hundred thirty s. stoc
call that wrap things up for me and my colleague bill dodd will be coming in here with a full look at your news in about thirty minutes time but coming up our t. lifts the lid on what made a respected british government official turn to spying for the soviet union that's in our special report next right here on alt. his life was shrouded in secrecy and he left a remarkable legacy. he received decorations from the spanish dictator franco and queen elizabeth of britain. he shook hands with a...
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let's let's remember that these are the very said people that would like to repeal all of the dodd frank bill the try to prevent this the housing collapse that we all face that brought down almost brought down the entire economy and that part of their crusade is to absolutely repeal about legislation it's quite remarkable we have seen that the. the republicans have been the side of the oil companies and now the speculators wall street all the time all the way. and so it's really not that surprising that we can't get the republicans to join us in saying let's get the wall street speculators they'd rather plain barack obama they'd rather say it's about drill baby drill even though we're drilling more we're importing less we you know have greater supply than than we actually need right now and so i'm not surprised one bit you know so they're just playing politics congresswoman in the half a minute we have left do you think that the sea of t.c. is going to respond favorably to your to your letter. i think so i think that the pressure that we're putting on them will will have an effect and you kno
let's let's remember that these are the very said people that would like to repeal all of the dodd frank bill the try to prevent this the housing collapse that we all face that brought down almost brought down the entire economy and that part of their crusade is to absolutely repeal about legislation it's quite remarkable we have seen that the. the republicans have been the side of the oil companies and now the speculators wall street all the time all the way. and so it's really not that...
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Mar 14, 2012
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>> the dodd-frank bill provides greater oversight of the financial system, would it have stopped what happened? know. because there were too many other factors in play. >> pete sr? >> i agree with that, the crucial elements of the dodd-frank bill could have eased it in some part, but you may be looking at a higher cost of capital, which would not have been desireable. >> aagree. dodd-frank would have not stopped it. >> so, we have not even won the last war. ? >> no dodd-frank happened after we lost the last war. >> the perspective is, basl three is saying that banks should carry adequate capital to say that if something goes wrong, you remain solvent and you need to make sure that when a shock hits it's not too big. we going on with dodd frank the basl 3 accord is a formal useful device for ensuring written reduced risk. >> fair enough. now, everybody knows that what happened between t.a.r.p. 1 and t.a.r.p. 2 and eventually it was passed. thankfully. and the system was saved. and banks are now back to where they were before the crisis. recovery is durable. during the housing market is
>> the dodd-frank bill provides greater oversight of the financial system, would it have stopped what happened? know. because there were too many other factors in play. >> pete sr? >> i agree with that, the crucial elements of the dodd-frank bill could have eased it in some part, but you may be looking at a higher cost of capital, which would not have been desireable. >> aagree. dodd-frank would have not stopped it. >> so, we have not even won the last war. ?...
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Mar 15, 2012
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been to name bills after the people who head the committees of jurisdiction, which is why the bill was called dodd frank. we had the majority in the house and the senate. when it was split, it was falba falbane ochsley, which he didn't like, i guess. ochsley was the majority in the house. we're following the same protocol. >> gentlemen, yield. >> we didn't vote for it, either. >> y
been to name bills after the people who head the committees of jurisdiction, which is why the bill was called dodd frank. we had the majority in the house and the senate. when it was split, it was falba falbane ochsley, which he didn't like, i guess. ochsley was the majority in the house. we're following the same protocol. >> gentlemen, yield. >> we didn't vote for it, either. >> y
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Mar 12, 2012
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. >> she talked about how the pass enl of the dodd-frank bill helped to ensure the integrity of u.s. markets. this is about 35 minutes. >> good morning, have happy to wi welcome you all to washington. for se speaks 2012. i'm the director of the enforcement division and i'm honored to serve as cochair as sec speaks along with my -- as cohosts, our principal job is one of timekeeping to get us off to a good start, let's move right into the program. the conference covers would days. today and tomorrow, and we will be presenting a number of panels from various sec divisions and offices to discuss, issues, developments, trends, cases, regulations in the sec's work over the past year. we have invited commentators, to give our views on each panel. many of them have previously served as commissioners or in other capacities so they can offer perspectives from inside and outside the sec. over the course of the day, you'll hear from the sec's chairman, mary shapiro and from four other commissioners. aside from the session, we will be offering work shops, smaller break out sessions at the end of
. >> she talked about how the pass enl of the dodd-frank bill helped to ensure the integrity of u.s. markets. this is about 35 minutes. >> good morning, have happy to wi welcome you all to washington. for se speaks 2012. i'm the director of the enforcement division and i'm honored to serve as cochair as sec speaks along with my -- as cohosts, our principal job is one of timekeeping to get us off to a good start, let's move right into the program. the conference covers would days....
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Mar 12, 2012
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they will prepare a -- repeal the dodd-frank bill. on the very first day of the new administration i will sign all three of those appeals to clear the slate and focus on getting positive things done to create jobs in america. on the first day about two hours after the address, i will sign a series of orders. the first one will abolish all of the white house czars as of that moment. we well on that first day to move the embassy from tel levied to jerusalem and defend israel's right of sovereignty. we will reinstate ronald reagan's mexico city policy and no taxpayer money will be spent on abortion outside the united states,. . -- outside the united states, period. the obama administration apologists to fanatics while attacking the catholic church and right-to-life institutions in the united states. on the first day i will order the repeal of everett anti- religious act of this -- will order the repeal of every anti- religious act of this administration. to go back energy come on the first day i will sign the pipeline for canada and i wi
they will prepare a -- repeal the dodd-frank bill. on the very first day of the new administration i will sign all three of those appeals to clear the slate and focus on getting positive things done to create jobs in america. on the first day about two hours after the address, i will sign a series of orders. the first one will abolish all of the white house czars as of that moment. we well on that first day to move the embassy from tel levied to jerusalem and defend israel's right of...
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Mar 22, 2012
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exploitation wouldn't work. >> now the commission already has these powers it was passed in the dodd-frank bill was supposed to have been taken effect a year ago, and they were supposed to have drafted the rules to limit this. they took a draft, and then kick it over to the securities and exchange commission who is supposed to do something else. but all of these speculators in the meantime filed a lawsuit. what does your bill do to be able to circumvent the lawsuit that the lobbyists for the investment community filed? >> the lawsuit was against the -- my futures trading commission saying it could not impose this rule which basically says that speculators can't corner the market or in effect exercise their financial powers, and we circumvent it not in an improper way, but the section of the statute that says use the powers to curve excessive speculations to make sure the market conditions will not have an effect. and the united states state department of justice to investigate any price fixing or gouging any of the illegality, and maybe even using the grand jury if there is evidence of illegali
exploitation wouldn't work. >> now the commission already has these powers it was passed in the dodd-frank bill was supposed to have been taken effect a year ago, and they were supposed to have drafted the rules to limit this. they took a draft, and then kick it over to the securities and exchange commission who is supposed to do something else. but all of these speculators in the meantime filed a lawsuit. what does your bill do to be able to circumvent the lawsuit that the lobbyists for...
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Mar 15, 2012
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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
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...
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Mar 2, 2012
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fannie mae and freddie mac not even part of the regulation and just the name of the bill, dodd and frankt associated with fannie mae and freddie mac. there's a cynical view that you look at what's being done and this is going fix everything with those things looming which were in large part -- it helps the narrative for the white house that it was all the banks and that it wasn't policymakers or societal move. i mean it is an election year and i'm back to my original question. >> well, joe, we've said the reason, the causes for this crisis were multifactorial. there was an insufficient regulato structure. consumersing took on debt they couldn't afford. banks were part of the problem. we need to make progress on housing finance reform and think through the future of the government's role in housing finance. we've put out some thoughts on that. we've committed to putting more on that. we very much would like to advance the conversation on making sure that we bring private capital back into the housing finance. that we decrease the role of the government-sponsored enterprises and so forth a
fannie mae and freddie mac not even part of the regulation and just the name of the bill, dodd and frankt associated with fannie mae and freddie mac. there's a cynical view that you look at what's being done and this is going fix everything with those things looming which were in large part -- it helps the narrative for the white house that it was all the banks and that it wasn't policymakers or societal move. i mean it is an election year and i'm back to my original question. >> well,...
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i'm the chief author of the bill to repeal obama care and the chief author of the bill to repeal dodd-frank. it wasn't an issue in the campaign. i made it an issue and now for our candidates they also will repeal dodd-frank. >> if you're so in the vanguard against obama care, presumably mitt romney is the least of the four candidates that you would personally endorse, right? because of his own health care plan not that different. >> that's the positive difference i made in the campaign. now mitt romney's answer is that he will get behind a full-scale repeal so no matter who our nominee is, they have all committed verbally to repeal of obama care and now it's up to us to hold our nominee's feet to the fire. >> let's take a little break and come back and talk to you about sex contraception and rush limbaugh. three words i hoped i'd never have to say on national television. >> then don't. >> announcer: this is the day. the day that we say to the world of identity thieves "enough." we're lifelock, and we believe you have the right to live free from the fear of identity theft. our pledge to you?
i'm the chief author of the bill to repeal obama care and the chief author of the bill to repeal dodd-frank. it wasn't an issue in the campaign. i made it an issue and now for our candidates they also will repeal dodd-frank. >> if you're so in the vanguard against obama care, presumably mitt romney is the least of the four candidates that you would personally endorse, right? because of his own health care plan not that different. >> that's the positive difference i made in the...
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to the oil companies, a huge thing, enormous stimulus billing, enormous health care bill and obama care and huh dodd frank. when you had divided government things are not going to happen the way they do with unified government and you have a big election that tries so solve -- >> polarization -- >> yes. parties should stand for opposite opposing -- philosophies and take it to the public. >> a politician who sits with his mug on one side of the fence and his wamp on the other. old term. >> can you use that on tv? >> 1887, there is a no-man's land in the center of politics now on capitol hill that republican right is firing at the democratic left and the people in the center are being wiped out. >> fire at the republican center when she sits in the caucus on the left -- >> the senate. >> call and it what you will. people have saying why don't you vote with the party when she's not voting with the -- [everyone talking at once] >> they get beaten because they -- you don't center to be a member of the party to support every aspect of the party. [everyone talking at once] >> i agree with you. you shouldn'
to the oil companies, a huge thing, enormous stimulus billing, enormous health care bill and obama care and huh dodd frank. when you had divided government things are not going to happen the way they do with unified government and you have a big election that tries so solve -- >> polarization -- >> yes. parties should stand for opposite opposing -- philosophies and take it to the public. >> a politician who sits with his mug on one side of the fence and his wamp on the other....
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republican candidates are out there on dodd-frank bill. we hate dodd-frank.. how motivated is the public and how much of a winning circumstances it for the gop to get up there and defend banks. >> losing issue. i wouldn't go there. you have plenty of other stuff. yeah. so now you're going to go to energy. there we're trying to centralize energy. we're trying to say we'll support this and we'll support that and not give leases and do other things. so you get this, it's basically a fundamental argument about central government control versus decentralization. that's what you're really arguing. you go to each of these three sectors that's the debate. that's why people -- the winning arguments are health care, as your poll said. and gasoline. >> i want to make one point which i recall the debate between mondale and reagan back in 1984. somebody said, the difference between republican and democrat, that was 5%. that's what the defense budget requested by reagan versus the one support by mondale. when you talk about central control you're talking about president ob
republican candidates are out there on dodd-frank bill. we hate dodd-frank.. how motivated is the public and how much of a winning circumstances it for the gop to get up there and defend banks. >> losing issue. i wouldn't go there. you have plenty of other stuff. yeah. so now you're going to go to energy. there we're trying to centralize energy. we're trying to say we'll support this and we'll support that and not give leases and do other things. so you get this, it's basically a...
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Mar 26, 2012
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bill. it was clearly intended to -- unfortunately, the regulators have interpreted it a different way and they have interpreted dodd-frank's somewhat rushed language as not providing a clear exemption for these end users. now representative grimm's bill here finally provide american businesses with the certainty they need to use derivatives to hedge against business risk. end users, you know, were not the cause of the financial crisis, and by any measure whatsoever, end users are not systemically significant. and who are these end users that we're talking about here? well, they are the main street businesses from all over the country that represent all types of industries that rely on the use of derivatives to responsibly hedge their own business risk. and so they should not be and were not considered under the same umbrella, if you will, as regulations that banks are that subject to posting margins on their swap transactions. so requiring end users to subject to a mandatory margin requirement, what it basically does is it forces entities to act as banks. it would tie up working capital that otherwise could and sho
bill. it was clearly intended to -- unfortunately, the regulators have interpreted it a different way and they have interpreted dodd-frank's somewhat rushed language as not providing a clear exemption for these end users. now representative grimm's bill here finally provide american businesses with the certainty they need to use derivatives to hedge against business risk. end users, you know, were not the cause of the financial crisis, and by any measure whatsoever, end users are not...
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i mean if we look at what's going on in the world at the moment there's this huge bill going through america called dodd frank i can advise italy i mean it's now up to something like six and a half thousand pages how can anybody in their right mind expect to use that to create any sort of a framework apart from a large amount of paper that you can go and sit on or possibly make. and i think that's the problem we're running into here peter is that actually we can talk about these lovely concepts all day but actually we've got a nightmare coming up because everybody's going to be potentially in danger of wearing an orange jumpsuit because they won't know what they're able to do and if we don't have any markets whatsoever then reasonable commerce is going to come to a hold because actually i think arnold said it best first of all you can't be extreme you can't have total regulation because that star one isn't and those markets didn't work terribly well and you can't have complete are not capitalism which admittedly we've never really seen in the world but i suppose you could argue happened during the indus
i mean if we look at what's going on in the world at the moment there's this huge bill going through america called dodd frank i can advise italy i mean it's now up to something like six and a half thousand pages how can anybody in their right mind expect to use that to create any sort of a framework apart from a large amount of paper that you can go and sit on or possibly make. and i think that's the problem we're running into here peter is that actually we can talk about these lovely concepts...
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under dodd-frank, the bill the lenders can satisfy this requirement by originating a qualifying mortgage which is a safer, more sustainable product. and how will that definition of qualifying mortgage relate to the rules that you're putting together on ability to pay? >> okay. >> i told you it was a long question. >> it was a long question, but have i long answers typically, so maybe they match up. as i said is earlier on the subject, i want to be a little careful because it is a pending rule-making. there was the proposed rule that the federal reserve put out, and it's now fallen to us to finalize that rule. we are consulting with other agencies, and we have received extensive input on the rule from consumer groups, from industry groups, and from people across the spectrum, all of whom are interested in the mortgage market, the real estate market, and all of whom, and we all feel the same way want to see it come back to life and to vibrancy. it's going to be important to the economic recovery. so this is an important statute. we want to get the rule in the right place. we're trying to b
under dodd-frank, the bill the lenders can satisfy this requirement by originating a qualifying mortgage which is a safer, more sustainable product. and how will that definition of qualifying mortgage relate to the rules that you're putting together on ability to pay? >> okay. >> i told you it was a long question. >> it was a long question, but have i long answers typically, so maybe they match up. as i said is earlier on the subject, i want to be a little careful because it...
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Mar 1, 2012
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by the treasury, not by the fed. >> we have been trying to track the camilla the affect of the dodd-frank bill. -- the cumulative effect of the dodd-frank bill. recently, we have reached a milestone. we are a third of the way through. it was alarming to find that the regulators themselves published that it would take 22 million man hours per year to comply with the first 140 regulations. we are headed to a lot of compliance ellis. it was interesting to note that it only took 20 million man hours to build the panama canal. i would think that most people would agree that 20 million man hours spent -- greeted more economic opportunity than 22 million man hours compliant -- created more economic opportunity than 22 million man hours complying with regulations. i you concerned that this kind of burden -- are you concerned that this kind of burden is healthy? >> i do think it is important to point out what we are trying to prevent. we had a financial crisis that has created enormous amount of hardship. it is with some cost to make sure that does not happen again. yes, those regulations are costly. s
by the treasury, not by the fed. >> we have been trying to track the camilla the affect of the dodd-frank bill. -- the cumulative effect of the dodd-frank bill. recently, we have reached a milestone. we are a third of the way through. it was alarming to find that the regulators themselves published that it would take 22 million man hours per year to comply with the first 140 regulations. we are headed to a lot of compliance ellis. it was interesting to note that it only took 20 million...
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Mar 12, 2012
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senior regulators explain the effect of the dodd-frank wall street bill. chairman martin gruenberg was among the featured speakers. this is about 40 minutes. >> this is theirs. >> okay. okay. i'd like to welcome everybody back for our afternoon program, please. we hope you enjoyed a good lunch. we've had a very interesting morning, we're delighted now to have the privilege and honor of hearing from chairman martin j. gruenberg, acting chairman of the federal deposit and insurance corporation, chairman gruenberg has a number of d distinctions but one of them which is relevant for today's event is that he worked very actively on the senate banking committee for a number of years, served under senator paul sarbanes, actively involved in the drafting of that statute, along with chairman gensel and professor goldsmith was involved. obviously steve harris also we've heard from this morning, so we have a number of folks with us this morning who are truly veterans of that effort and can give us some perspective on that statute. chairman gruenberg served on the sen
senior regulators explain the effect of the dodd-frank wall street bill. chairman martin gruenberg was among the featured speakers. this is about 40 minutes. >> this is theirs. >> okay. okay. i'd like to welcome everybody back for our afternoon program, please. we hope you enjoyed a good lunch. we've had a very interesting morning, we're delighted now to have the privilege and honor of hearing from chairman martin j. gruenberg, acting chairman of the federal deposit and insurance...
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Mar 8, 2012
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in the dot-franc bill, -- dodd- frank, there is a number of provisions, closing the loopholes and the rest, and right now there are those who want to stop that -- of the unfair manipulation of the market. republicans stand within. they want to overturn the provisions that say stopped the exploitive it speculation that raises the price of oil and the price at the pump. remember, supply is up, demand is down, thanks to the american people and their decisions. why is the price up? is it because of international prices of oil and it does not matter how much we bring down consumption, how much we increase production? if so, we have to have some independence to do something alternative to that. so, i think if you want to talk about the pipeline, but the fact is this will was never destined for domestic production. -- this oil was never destined for domestic production. so says the prime minister of canada. >> madam speaker -- you are a longtime member of the intel committee. what was your reaction to the attorney general's assertion earlier this week testifying american government targeting
in the dot-franc bill, -- dodd- frank, there is a number of provisions, closing the loopholes and the rest, and right now there are those who want to stop that -- of the unfair manipulation of the market. republicans stand within. they want to overturn the provisions that say stopped the exploitive it speculation that raises the price of oil and the price at the pump. remember, supply is up, demand is down, thanks to the american people and their decisions. why is the price up? is it because of...
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. >> well, and so, you know, you've got the dodd-frank bill has been slowed in terms of enforcement by a lot of corporate pressure and there's been a lot of discussion about how much wall street has been giving to people who have been trying block the implementation of it. is the corporate influence and their ability to fundraise making it impossible for government to do its job? >> well, in some ways, yes. the corporate people themselves, the financial people know better. i am critical for this reason, if you have a congressional republican party today that is outside of the mainstream of thought, you have people in the house, they don't believe that there is any problem with climate change. they are really homophobic. you have the federal reserve. ben bernanke, a bush appointee he has been working and was originally doing this with other bush appointees, they have been now with some obama appointees, trying to stabilize the world financial situation and working to do to keep europe from having a crisis that will rebound negatively on america. they're being attacked by right wing memb
. >> well, and so, you know, you've got the dodd-frank bill has been slowed in terms of enforcement by a lot of corporate pressure and there's been a lot of discussion about how much wall street has been giving to people who have been trying block the implementation of it. is the corporate influence and their ability to fundraise making it impossible for government to do its job? >> well, in some ways, yes. the corporate people themselves, the financial people know better. i am...
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courts all over this country trying to get the rules and regulations pursuant to the dodd-frank regulatory reform bill tried to get them stayed and thrown out of court. >> we'll get to that in a moment, but you are exactly right. but you have seen some public statements -- and trust me you know me i'm not justifying these executives. you have seen public statements where they acknowledge that they understand that the inequality baked into our economy and excesses at the top create a necessary and fundamental pushback. so is that the first to changes policies. >> eliot they understand what they need to say. they understand perhaps that the country is angry. but they don't get it in terms of fundamental change and reform. the federal reserve board just came out with its annual report saying that the biggest banks on wall street have to be broken up. can you imagine the dallas fed actually saying that. wall street doesn't want to be broken up. those same executives you say to them should you be broken up support a strong vocal rule? should you resurrect the glass spiegel act? they are going to say no. >>
courts all over this country trying to get the rules and regulations pursuant to the dodd-frank regulatory reform bill tried to get them stayed and thrown out of court. >> we'll get to that in a moment, but you are exactly right. but you have seen some public statements -- and trust me you know me i'm not justifying these executives. you have seen public statements where they acknowledge that they understand that the inequality baked into our economy and excesses at the top create a...
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[cheers and applause] >> they will repeal the dodd- frank bill. they will repeal sarbanes-oxley. and on the very first day of the new administration, i will sign all three of those repeals to clear the slate and focus on getting positive things done to create jobs in america. and on the first day, about two hours after the inaugural address, i will sign a series of executive orders. the first one will abolish all of the white house czars as of that moment. [cheers and applause] >> we will on that very first day move the embassy from tel aviv to jerusalem in defense of israel's right of sovereignty. we will on that first day reinstate ronald reagan's mexico city policy and no taxpayer money will be spent on abortion outside of the united states, period. [cheers and applause] >> the obama administration apologizes to radical islamist religious fanatics while attacking the catholic church and right to life institutions to the united states. on the very first day i'll issue an executive order repealing every anti-religious act of this administration. [cheers and applause] >> and to g
[cheers and applause] >> they will repeal the dodd- frank bill. they will repeal sarbanes-oxley. and on the very first day of the new administration, i will sign all three of those repeals to clear the slate and focus on getting positive things done to create jobs in america. and on the first day, about two hours after the inaugural address, i will sign a series of executive orders. the first one will abolish all of the white house czars as of that moment. [cheers and applause] >>...
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Mar 5, 2012
03/12
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FOXNEWSW
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in fact, we could-- the dodd frank bill and because the way it was handled we've centralized more power in new york banks and made the big banks bigger. we put more power in the treasury, it's exactly backwards. you had taken the same number of dollars and helped people who had mortgages so they then paid the banks, you could have achieved the same kind of a goal in a much more human oriented model. what they tried to do, they poured the money in from the very top and this is true for both bush and obama. they poured the money at the very top and it never trickled down. the big banks kept the money. he they haven't made the loans and frankly the regulators under dodd frank depressed the housing market so it's still declining. this is exactly the opposite of what we should have done so i would have favored increasing the number of local small independent banks, they're the people who make most of the loans to small business, i would have favored helping people work out their home mortgage problems, rather than foreclose and i would have favored looking at helping people, not helping larg
in fact, we could-- the dodd frank bill and because the way it was handled we've centralized more power in new york banks and made the big banks bigger. we put more power in the treasury, it's exactly backwards. you had taken the same number of dollars and helped people who had mortgages so they then paid the banks, you could have achieved the same kind of a goal in a much more human oriented model. what they tried to do, they poured the money in from the very top and this is true for both bush...
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Mar 19, 2012
03/12
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KCSM
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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
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...
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Mar 30, 2012
03/12
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CSPAN2
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i start off trying to be bipartisan, and then i just heard that the dodd-frank bill and obama possums problem. i would like to invite anyone who has any information whatsoever, the justice department, the cftc, anyone who has given mr. jon corzine a past related to this matter, i would like to see it and it would be another matter we don't have. i would like to know if dodd-frank cause this problem, then what caused we human brothers, what caused bernie madoff? i know we are here to make a point, but let's stick to the matter. if you know, go to the justice department and tell them. >> will the gentleman yield? >> i appreciate you yielding. the point that i am making, i am quoting the commissioner at the cftc. it is his observation. it is his observation that since the dodd-frank act became law, the commission has acted in this way. it is his observation that he has concentrated on swaps rule-making while averting its gaze from futures market -- >> i would be happy to go for my time -- >> i would be happy to join with the gentleman asked them that question to see if they think publicl
i start off trying to be bipartisan, and then i just heard that the dodd-frank bill and obama possums problem. i would like to invite anyone who has any information whatsoever, the justice department, the cftc, anyone who has given mr. jon corzine a past related to this matter, i would like to see it and it would be another matter we don't have. i would like to know if dodd-frank cause this problem, then what caused we human brothers, what caused bernie madoff? i know we are here to make a...