but kneel, dodd-frank.us about what the law has actually done and whether it has come with a real set of teeth behind it. >> it is a big law. it does a lot of different things. for me some of the more important parts are -- are a new set of authorities that allow the federal reserve to regulate any financial institution that could create risks for the broader system. you had these very large companies who really were not overseen in a methodical way by the government at all. at the same time they were creating these massive risks for the economy. that's one thing that dodd frank does a pretty good job of taking care of. making sure that people don't slip through the cracks the way they did in 2008. that said, did dodd-frank do enough to prevent these kinds of risks from building again? i think that's -- the jury is still very much out. >> and only a third of the rules of dodd-frank have actually been written so far? >> that's correct. and the ones that have been written in many cases have deviated from the

some did put the previsions before dodd frank. some got watered down and there is movement in pays rather than risk-based salaries. people were being rewarded for taking risks and part of the big risk was paying a price for that. getting more to performance based salaries is where i think we are headed. i hope we are headed. that would be good news. >> what's the state of the mid-sized banking industry. you see mixed bag on one hand. a bunch went under. >> less than 5%. it appeared to the large institutions. we did louz about 400 miles there. >> what is the status here? are you better off going to citibank or the community bank? >> we need to look at the capitalization levels and how they treat their customers. they tend to have higher capital and if you get into a downturn, they will keep extending you credit. they will pull back on the credit lines and not continue extending credit into the downturn. that's the first thing. if thank you look at loan balances, the small and medium and the smaller banks are doing the most of the l

senator dodd. it's the whole issue of imminent hostilities. there are 500 advisers. what are they doing there? where are they doing it? are they in airplanes, helicopters,n the ground if someone is shooting at eldorado military and we're standing side-by-side with walkie-talkies advising them how to fight, it's pretty darn sure somebody will be shot. already, somebody's been shot. in my mind, our troops are in a hostile environment and in imminent danger. you think, in this circumstance, if congress does nothing, the president must bring them home after 60 days? the war wers act is not automaticay triggered by the opinions of senator dodd and myself. the president has to trigger the war powers act. let's assume for thpurpose of argument that thear powers act is applicable in this situation. let's assume that. i can understand that congress has one of two oions which arvery forthright, very proper if you assume the law's constitutional and applicable. number one, they can approve the trps being ther

and you said the dodd/frank is both onerous and burdensome and doesn't go far enough.at depression, you had glass-steagall, which was 30 pages long and now you have dodd/frank, which is 3,300 and counting. so rather than going with a simple fix that was easy to follow and easy to understand, that was a level playing field for all participants and that would accomplish the goal of what glass-steagall did, which is truly ending too big to fail by splitting up the banks, what we have is this regulatory death by a thousand cuts, which nibbles around the edges and has exceptions and wavers and loopholes to the exceptions and the wavers, which gives the regulators and the lawyers plenty of stuff to work on. >> which is part of what happened? >> dodd/frank has the potential to end too big to fail, but we haven't done it yet, because it gives the power to the regulators. plus, we're coming up on the third anniversary of that whole process. there is so much power in section 265, they could institute glass-steagall. >> living wills, banks have to write a document saying, if i bl

chris dodd was still there. he picked him at the geithner, who had worked hand in glove with us as we designed this. -- he picked tim geithner, who had worked hand in glove with us as we designed this. there was pressure and i have no doubt there was pressure. because, with every new president, there is pressure from the base to get rid of what the other guys did. >> i agree. bush defied his ideologues. we had mortgage relief written into the tarp bill. i know that there was such urgency. they could not wait for some that money to go out. he was asking for the second tranche of money, which would have been used. the money had to come from somewhere. somebody had to come up with the money. we could force the banks to take a hit, but that is where the transition fell through. i have to be critical of the secretary. we took $1 billion of the tarp money and said i'm a use that to relieve the mortgage distress of the people who are unemployed. he got so bureaucratic, only half of that was spent. we gave authority and

though dodd-frank reform was approved three years ago--a lot of details remain unspecified. as of this month, 40% of dodd- frank rulemaking deadlines have been met.61% of the deadlines for reform have been missed.and about 32% of rulemaking requirements have not yet been proposed. an upcoming recess is canceled for congress..house majority leader eric cantor says instead of taking a break starting september 23rd.. lawmakers will work on a short term spending bill that avoids a government shut down ahead of the september 30th deadline. thursday..the gop discussed delaying obamacare for a year.. by attaching the plan to a government funding measure.the president has said he wants a budget proposal with no strings attached. the department of health and human services reports health care reform saved consumers $1.2 billion dollars in premiums last year. russian president vladimir putin took to the new york times to plead his case on syria. in an op-ed piece he argued against military intervention and chided the u-s for a go-it- alone mentality. meanwhile, secretary of state john

the co-authors of dodd/frank.esident of the motion picture association of america and former united states senator chris dodd. also former u.s. congressman barney frank. hey, guys, thank you for being here. it's five years later. it's remarkable. five years later today. we had hank paulson on a friday. we were talking about this during the commercial break. a lot of people look at what he did during the crisis and say he's an american hero. do you agree with that? >> well, look, if you're beginning your mark of september of 2008 when the thing had cratered and we're looking over the brink. when ben bernanke says to barney and i in the night of september, it's going to melt down here and abroad. then, yes, did a good job of working through that, getting the t.a.r.p. done, setting things up. but, you know, this problem didn't -- we're talking about five years ago. this problem began, you could identify the problems emerging in 2005, 2006. jim bundting and jack reed had hearings in 1996. almost all of 2008, even with

i guess two-part question, how come dodd-frank has not been implemented? halfway there, and is dodd-frank not enough to rein in the banks? >> well, i think there's been a lot of tremendous industry lobbying against it. that's frankly one of the fallouts of the bailouts, we propped everybody out, kept them going, no accountability, so that's been a problem, but we need more leadership, frankly, more political support from the president and the congress to get these rules done. >> and yet we're seeing enormous numbers in terms of the cost. what about the expense? jpmorgan paying another $4 billion the second half of this year to comply with the rules. >> that's really the lion's share of the fines there. i think all these enforcement actions are justified against jpmorgan chase, but i don't think they are unusual in some of the things they are doing. frankly, i'd like to see more of these types of actions brought against other institutions, where you have similar problems. on the other hand, i think, you know, some of the regulatory activity, it's not clear

so the dodd/frank was a missed opportunity./frank were going through congress, a lot of the things that caused the financial crisis weren't addressed. we have all this legislation that supposedly addresses these things and it supposedly doesn't. >> i want you to pause for our viewers and remind us what dodd/frank is and why nearly half of the rules that were meant to be written have not yet been written. >> dodd/frank was the financial reform that was passed by congress in 2010. and the idea was that it would address some of these issues, for example, banks being too big to fail, it would address that. it would create all these rules to bapgs wouldn't take so much risk, roll the dice, gamble with so much money. that's the famous volcker rule. but that rule hasn't been written. because it sounds simple in concept to tell banks, don't take risks with your own but, but it's complicated in reality. banks have a lot of assets. what do they do with those assets and instructing them what to do is very complicated. >> on the politics,

frank, will they say we should go back to dodd frank? is a piece of legislation that you're proud of? >> a quick semantic point. the way from which we separate people from their meanings, that is why we are called the ways and means committee. [laughter] the international one -- whatever we think about what we have done, we have done a better job than most of the rest of the world on the international side. one of the dangers is the business community -- and going back to our family analogy -- the business and financial community has come to some extent, adopted the mode -- adopted the mood of the teenage parent -- the teenage child against most parents. daddy. mommy off "england let me do it." [laughter] we have to talk to each other about this. here is why i do think -- if you have been to a national airport legally there is a racist quote from carter glass and he was in the constitutional assembly, explaining why it is terribly important not to use the -- not to let those "black people" -- i don't think that's the word he used -- don'

dodd/frank isn't completed.obody knows what the rules of the road are going to be. >> and that's a bad thing, i take it. >> well, i think it's always good to know where you're going. and we as a country don't know where we're going in a lot of different places, especially in the financial industry. >> would you still say the banks need to be split apart? >> i think i would say the same thing i said before that if the way the regulations come down do not allow entrepreneurship and do not allow people in the financial industry making mistakes. then, i think -- and because of risking taxpayer money, i think that's going to make our financial industry completely in effective. and we really -- in the financial industry led the growth in the whole world. we help convert capitalist countries. more than 1 billion people have come out of poverty into the middle class. which is helping everybody. >> you could do that with the investment banks. you could have the commercial banks going back to doing medical repoortgages an

how come dodd-frank has not been implemented? it's only halfway there and is not enough to reign in the banks? >> i think there's been a lot of tremendous industry lobbying against it. that's one of the fall outs of the bail out. we propped everybody up. there was no accountability. we need more leadership. we need more political support to get the rules done. >> yet, we're seeing enormous numbers in terms of the cost. what about the expense? jpmorgan paying another $4 billion for the second half of the year to comply with the rules. >> i think the enforcement actions are justified against jpmorgan chase. i don't think they're unusual in some of the things they're done. i'd like to see more of these types of actions brought against other institutions where you have similar problems. on the other hand some of the regulatory activity, it's not clear to me how much benefit but the stress test has been helpful. it's spinning out of control now. the hundreds of staff that have to deal with this and are they focusing the banks on the r

before dodd/frank, for 14 years, the federal reserve could have stopped subprime lending in the crisisat on its hands -- >> it could have done it. it had the power to do it. >> it had the power to do it. i won't do this for your viewers, but it had the power, and in fact, was the only real regulator that had the power to regulate subprime mortgages for 14 years, basically could have prevented the foreclosure crisis. >> and just really quickly, post dodd/frank, the fed has the power to break up banks and split them up into glass-steagall-like entities, if it wanted to. >> and that power actually remains, and i think that's the underappreciated aspect of who the next person's going to be. incredibly important position, the most important economic position not just in the country, in the world. heather mcghee and alexis goldstein, thank you both. all right, that is "all in" for this evening. "the rachel maddow show" starts right now. good evening, rachel. >>> good evening, chris. thank you very much. and thank you for staying with us this hour. today's mass shooting at the navy yard facil

we have a wristle brother rule that's part of dodd frank that still hasn't been finalized. you have the structural issue that a lot of regulators are paid $50,000, $80,000, maybe $100,000 a year but the bankers that they are regulating are being paid millions of dollars year. so there is a class system, quite literally a class hierarchy in wall street regulation >> how big a threat to do we face? >> a pretty big threat. as with last time, we don't know what it s last time, we were blind sided by the mortgage crisis you even though there were a few oracles who said they predicted it, no one could have predicted that the economy could be so bad that income inequality would bed a bad as it is economic recovery stumbled along, almost the stagnation no one predicted that, we won't see that coming next time either but it's worth it for regulators to take a look at assets that are priced way too high, relative to what they are a worth. >> died this moore. thanks so much. >> thank you. >>> the conversation about the 2008 financial crisis continues tomorrow on the "newshour," interv

the time of the crisis in two thousand and eight it was sixty percent of the two thousand and ten dodd frank act still on hold because republicans in congress refused to fund it is bigger to bet these big or too big to fail banks are just as toxic to the economy as they were five years ago arguably more so meanwhile wealth inequality which started growing with the reagan revolution has picked up steam dramatically since two thousand and eight last year the richest ten percent of americans took home over fifty percent of total income a record the top one percent took home a little over twenty percent of total income the one percent has also captured about ninety five percent of the income gains since the recession ended when america emerged from the great depression economy was stronger and more equal five years after the financial crisis and four years after the recession officially ended the american economy is as unequal and fragile as ever but there may be some good news for the economy yesterday former surgery secretary larry summers one of the cheek chief architects of the deregul

one of the charges of dodd-frank was to look at these. how much time do you really spend at the cfpb scraping out any old outdated and air relevant regulations and can you name a few of those? >> thank you for that question and it's a concern of mine and i think it's an appropriate concern for you all because i do think it's a question and the regulatory world. each individual rule people focus on a have a rationale and justification and they think is greatly needed and what they often don't knew -- do was look at the totality of the overall burden. we are trying to be accessible to institutions and invite them to raise issues with us. we embarked on streamlining initiative last year. we put it out for notice and comment for to tell us what kinds of things they would like to see a streamlined. there's a certain amount of streamlining we have been doing all along. as we write rules we find ways to wait things out to a level of some detail. >> you could actually give me a listing of rules that have been grandfathered out? >> as we write eac

is it dodd/frank?ratic party forged alliance in the bill clinton years, wall street alliance, became a huge source of campaign cash, political cover for democrats. not mondale dukakis liberals, business community likes us, wall street likes us. clearly president obama got re-elected last year despite fierce opposition financial and political and vocal opposition from wall street. the democratic party is partly moving away from it, not entirely, plenty out there that have that clintonian relationship with wall street. i'm curious how it evolves over the next several years. >> quickly, a question who is going to take over the fed. the president under pressure not to pick larry summers. yet it sounds like he's very much still in the running. >> he is. the president is a big fan. a lot of the president's economic team are big fans. they have worked closely together. i think there's a lot of reasons to not go with the summers. at the end of the day those guys know him well, respect him enormously and he's t

chris dodd was still there. he picked tim geithner. geithner had worked hand-in-glove with us in designing these programs. so this capital market stabilization programs they needed, they had the programs they needed. it was in place when they got there. they managed them well. there was pressure, i have no doubt there was pressure because every new president, there's pressure from the base to get rid of what the other guys have done, disavow it, but they basically kept the perhaps, they managed them well. so that part -- >> i agree. bush did deserve a lot of credit for defying some of his own idealogues giving hank the authority to do it. we have one difference of opinion. we had written into the t.a.r.p. bill -- >> 50 billion. >> mortgage relief. hank, correct me, he believed there was such an urgency to get the first money out that you couldn't wait for some of that. he did say to me, he was willing to ask for the second tranche of money and that would have been used for mortgage -- remember here is the problem with mortgage relief.

dodd tried in may we'll tell us this.initially made quite a radical proposal including abolishing of the existing regulators and wrapping them into one new regulatory agency. his colleagues, without exception all dumped these ideas so he had to accept the administration's framework as the template for reform. the preeminence of the executive branch and the less was made easier by the general decline of the expertise and policy experience in congress. i wrote about this. the tribe of politics over policy, as the great lee hamilton describes to me thought this had started to happen in the early 1880s. now the preeminence politics over policy is obvious. the regulatory reform of the 535 members of congress, i don't think there were two dozen hot a sophisticated understanding of the policy issues governed by the dog for bill and the number is even smaller today because both died and frank are gone. .. [inaudible conversations] >> we are at the los angeles convention center. it is the largest center in the country, about 30,00

dodd and shelby worked closely on that.the idea for this whole approach came in part from hank paulson and the execution was a george bush appointee, a great regulator, had a major role. what about too big to fail and here's the deal. first of all, the people who say we did not resolve to beta fail are the best friends of the doctrine because this is a matter of perception. when people read that too big to legally itll there, is very clear. no federal reserve official can pay any of the debts of one of these institutions without first abolishing it. no, especially since we have provided a system to deal with the systemic impact by advancing the money, wiping everybody out as noted. assessing the large financial institutions. moody's is now getting onto this and talking about reducing the ratings of the very large financial institutions. makes me very unhappy. ups were the biggest screw during the whole process. think they will catch up. here is what we were told. argument we get is oh yeah, but here's the deal. or investmen

because the regulators -- you mentioned dodd-frank.ulators under dodd-frank made it virtually impossible for the banks to lend money to those people, which is a very bad situation. >> neil: nevertheless, some of the once hot real estate markets that suffered, they're getting hot again in florida, and in new york, which really -- in new york city, which felt the pinch. you could argue it's getting 'hot again. are you worried this is another bubble? >> you're always going to have bubbles even if you don't think you're going to have them. bubbles bubbles and you look every seven and a half years and all sort office statistics. you look at the wave charts and you'll have bubbles. so it depends. but it's very artificial out there. lots of things are happening that are artificial, and time will tell whether or not this will be at another bubble. but in all firness to everybody, you're always going to have big ups and big downs, and sometimes, like we had a number of years ago, it would be calamitous. >> neil: my issue is how the government,

>> i think dodd-frank went a bit of a way to restraining what banks can do in the future. lot of concern they didn't go enough. but banks certainly didn't like it, the president did get that passed. >> they're not pointing a finger at those institutions, they are pointing a finger across the aisle. easy to do rather than pointing finger at the institutions. >> yes that's true. >> as i indicated a while ago, we are following multiple stories, the story that's unfolding in washington, d.c. that is still the scene there liven as there is a plethora of -- a small army of ambulances and police vehicles outside the washington navy yard in southwest washington, d.c. because 8:20 this morning, a gunman or gunmen walked into the complex and opened fire. our mike viqueira has been on the scene. mike bring us up to date. have we lost mike viqueira? we lost mike viqueira momentarily. but a short while ago wash mayor vincent gray came out and informed the public there were three shooters, one we believe to have been -- in fact two we believe to have been in some sort of military garb.

>> you're right about dodd frank. only 40% of the dodd frank rules have been promulgated as of late. stress testing is something that has been put in place. there was a stress test of banks, and only one bank didn't pass the test. that's a test to determine whether circumstances could recur, whether those circumstances, what impact they would have on a particular financial constitution. and most banks passed that. there is the oversight council which set up different departments and agencies where they gather together and assess risk. that's a good thing. departments in thtraditionally,d the federal government didn't work together very well. they're looking at managing these situations and managing the risks, it's better. >> diyou were working there at e time. did you flag it up, the exotic financial instruments, did you flag all that up? >> yes, my job was inspector general. i was the watchdog. what i did was i arrived shortly around the time of the financial crisis. i did an audit at bear-sterns. and they were aware

thousands of pages of new rules in the form of the dodd/frank wall street reform and consumer protection act. the bill proposed 398 new rules for banks, credit card companies and other financial institutions. but more than three years later, only w40% of those proposals hae gone into effect. and not a single senior executive from any wall street bank faced criminal charges. sure, there have been billions paid in fines, a new consumer watchdog, higher requirements on the banks. >> a lot of incentives that were baked into our system going into 2008 unfortunately still there. so i think we're still in a very dangerous place. >> reporter: five years after panic took hold, is your money any safer? we're going to answer that question. ken rogoff. five years ago this week lehman failed. about six weeks or two months before that collapse, ken predicted a major american investment bank would fail. he saw it coming. this week's "time" cover story, how wall street won five years after the crash. it could happen all over again. let's talk about the crisis ha happened here. it appears to be a crisis

melissa: right. >> he was the leading critic of dodd-frank. he called it, i don't know if i got half of this right. he called some of it monumentally stupid. okay i think i might have got the monumentally. he put some adjective on that or idiotic he called this. i'm telling you this is payback. this is almost, this is what is scary. the federal government, you know, pinpointing a firm that is done mostly the right thing because it doesn't like some side comments that the ceo said about the federal government's regulatory structure. that is insane. melissa: seth, charlie makes a great point. there are things that the bank did wrong during the crisis. >> right. melissa: on, if you put it all out there on a scale to me it's a lot, lot smaller than all the things they did right. and now, they're just being taken to the woodshed again and again. who pays in the long run? is it really the fat cat bankers that the public i thinks are the ones being punished. or is it shareholders, that are cops and pension fund teachers? is it customers who end up ha

chris dodd was still there. picked tim geithner. the capital stabilization programs need it. they had the programs they needed in place when they got there. they manageled him well. there was pressure -- no doubt there was pressure. because there's president from the place to get rid of what the other guys had just did. just disallow it. but they kept the programs. they managed that well. so that part. >> bush does deserve credit for defying some of his own laws and giving hank the men to do it. we have one difference of opinion. hank believed there was urgency to get some of the money auto. he wanted to wait for the second tranche of money. the money had to go somewhere. somebody had to come up with the money. we could have forced the banks to take a bit more of a hit at that moment with the t.a.r.p. but that's where the transition fell through. there was others i have to be critical of secretary of hfrmt u.d., john donovan. we took a billion dollars of the t.a.r.p. money and say use that to believe the people who are long-term unemployed. i was frustrated that we try to giv

we'll weaken dodd/frank because of this. it's desperate gambit. republicans don't have a vote for debt limit increase with this laundry list attached to it. that's why house leadership floated the plan. they never actually put out a bill. they didn't think they could get to 218 even with this insane list of demands. >> this is insane. the only thing not in there and we'll see it again is deport president obama. that's not on the list yet and i guess we should be thankful. luke russert, thank you very much. >>> midnight is not only the witching hour for government shutdown, marks a rollout for obama care. we'll preview crucial and busy october 1st when the white house's jennifer palmieri joins us next on "now." my customers can shop around-- see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for how much i'll pay. that helps me, and my guys, make better decisions. i don't like guesses with my business, and

considering the consumer financial protection bureau, dodd/frank, five years later still being written, how would you rate the success of what's being done right now to prevent another crisis? >> i'm not very sanguin. i've been disappointed. if you look at what's happened in wall street, very little if anything has changed. the credit rating agencies are pretty much like though were before. compensation practices really haven't changed. the biggest banks are now even bigger so we're at greater risk of too big to fail. across the board, very little change. of course, dodd/frank has been fought at every turn in congress at the regulatory agencies and the courts by the big wall street financial interests. >> does it distress you as equally that fannie and freddie exist in nearly the same form, the fha is still around in the same form? you didn't mention those as being distressful to you. >> i think if you look across a broad band it's striking the extent to which there has not been the deep structural reform we need to protect our financial system and our economy and to make sure our econ

cocreated the legislation known as dodd frank. my right is the honorable bill thomas, who served in congress until 2007. he was the chair of the house ways and means committee. and for purposes here today, he was the vice-chairman of of the financial crisis inquiry commission. to my left is a member of the fcic who i have known for many years, headed the cbo for quarter years, was john mccain's economic adviser, and was on the council of economic advisers. a guy who, for whatever reason, when he calls me up to do this always say yes. >> there may be people who do not know what cbo means. it is the congressional budget office. barney and i have one thing in common, if nothing else, we were frustrated over and over again by the congressional budget office on our plans based on what we thought they cost and what they told us, given their statutory power, it costs. >> always cost too much and never raised enough revenue. >> no, we knew that. they just didn't say yes. [laughter] i, for the record, loved working as the director of the c

lori: do you think ultimately dodd-frank will be implemented? it is watered down.ve, volcker rule in of itself, it is so confusing what has been implemented and what has yet to be determined. where will all this fall out? >> that's a good question and nobody knows the answer to it. we know what the law says and we know that the law obligates the regulators to promulgate regulations and then start enforcing them that are consist tented with the law. we're more than three years now since the law was passed. a lot of this work has not been done and you, it starts making you worry that, you know, not literally, but figuratively you drift into a common law regime which is contrary to the written law and things just never get done. that's why i felt compelled in my last "wall street journal" piece and i'm not only one, to start yelling about this. we shouldn't forget about it. lori: the president taking the opportunity on this anniversary in a sense to yell at republicans to say, stop getting in the way of getting my policies instituted here. what did you think of the pr

i do believe that that was an issue that hopefully dodd frank remedies. though i do have my concern on that particular point. i do think the caller laid out the triumvirate very well. host: the trillions of the federal reserve used in 20 way to bailout the eu. is that some you can discuss? guest: not what the specificity because i'm not executive sure where the caller is calling from. by failing of these institutions, these institutions goldman sachs in jpmorgan, all of the things have tremendous international exposure. out ation that bails multinational bank necessarily affects the global economy. we are in a global world so the financial policy we do at home will have effects abroad. host: angelica is up next from maryland on our republican line. caller: thank you for taking my call. i don't think that any bank should be allowed to grow so big that they can be a systemic risk not to just this country but globally. we have a problem of too big to fail and now also to big to prosecute. let's face it, all of these big banks dictate what goes on. when you s

. >> 11% thought waits dodd frank and wall street reformed part of dodd frank. two of the more popular incorrect answers, a way the fed makes it easier for commercial banks to monitor banks or in the right ballpark, but only 27%. it's hard to know what it is, to even have heard of it. but i just think that it's cool that one of our headlines is what the indian central bank is doing. >> because it matters. >> it matters to our viewers who are the finest, smartest viewers in the universe. >> with buffett and moynahan, i was trying to look across the screen to where the markets were closing, here is what oil is doing and they were kind of laughing. they said it always changes. i was talking to them about greenspan saying the ten year. and buffett said i remember when m1 and m2 were important. >> i thought he almost didn't care. his comment about what the fed -- what the fed is doing was almost like, look, this is what happens, right? >> but it's true. it's similar to what meryl witmer said yesterday where they are bottoms up and you're always going to have winds wh

frank.y enacted dodd- intopoured $485 billion aig. hank paulson guaranteed money market funds at a time when 30 million americans with money market funds were panicking. billion in three days had gone out of the non-government market funds. re-hundred billion dollars. that was almost equal to the deposits of wells fargo or wachovia.via -- i do not think they can do that under dodd-frank. i do not think burning he did and i do not think hank paulson could do what he did. , the only is a panic thing that will stop it is when somebody who has the ability and am going to doi whatever it takes. bernanke and paulson and congress said to the american public. if bernanke said, i will do , he did it.takes called it the change stabilization fund of the treasury. it was enacted in 1934. strong characters who had the ability to print money. they said, we will do whatever it takes and the president was behind them. that is the way to in the real panic. congress does not like to give anybody that kind of authority. i tip my hat to them. will be ano

earlier my colleague bill dodd chaired a panel discussion on my russia is seemingly singled out for criticism when it comes to gay rights we have been accused of not covering this topic here on t.v. and just last week a freelance reporter by the name of james could a chick he brought all tea certainly into the spotlight to me with quick start one has to say and he says that he made a very good. way if you want to do twitter follower bump for him but to get to the point this by the way is our third panel on carrots in russia but that's beyond the point kirchick came on to r.t. to let us know what he thinks about our coverage or lack thereof of gay rights in russia and this is what happened you know being here on a kremlin funded propaganda network i'm going to wear my gay pride suspenders and going to speak out what about bradley manning plus tiger that i don't i'm not really interested in talking about bradley i mentioned talking about the horrific environment of homophobia in russia right now and the russian gay people know that they have their friends and allies are i think those are the th

earlier my colleague bill dodd charity panel discussion on why russia is seemingly singled out for criticism when it comes to gay rights we have been accused of not covering this topic here on a lot and just last week a freelance reporter by the name of james could have chick he brought our tea certainly into the spotlight to me with great star one has to say and he says that he made a very good choice if you what you want to do twitter follower bump for him but to get to the point this by the way is our third panel on gay rights in russia but that's beyond the point kurtz it came on to r.t. to let us know what he thinks about our coverage or lack thereof of the gay rights in russia and this is what happened you know being here on the kremlin funded propaganda network i'm going to wear my gay pride suspenders and going to speak out what about bradley manning plus time because i don't i'm not really interested in talking about bradley manning a mission talking about the horrific environment of homophobia in russia right now and the russian gay people know that they have their friends and alli

earlier my colleague bill dodd chaired a panel discussion on why russia is seemingly singled out for criticism when it comes to gay rights we have been accused of not covering this topic here on our t.v. and just last week a freelance reporter by the name of james.