we have a much better feel for what the new world looks like post dodd-frank.hink the regulators are more comfortable with no account of what the rules are. all of that together is reasonable time to prove acquisitions. >> what would make your life so much easier? i think one of the most important improvements coming begin todd-frank is to develop some clarity around the size expectations. dodd-frank pulled an arbitrary what made0 billion as organizations systemically important. there is a lot of agreement on both sides that that number is probably too low. there is a lot of potential change. that, some clarity about -- >> welcome back. a quick look at the u.s. markets here as we head into break. mixed,seeing a very almost completely unchanged trade on the dow and the s&p. the nasdaq 3/10 of 1%. we will be back on the other side of this break. ♪ >> welcome back to "bottom line ." i'm matt miller, and for mark crumpton. a happy end into a story we've been covering for you. the window washers dangling from one world trade center have been saved. emergency rescue

many people are blaming liquidity on dodd frank.ere a chance we are going to turn things around? stopping like that were to happen, it is not going to happen likely. it is designed to reduce the risk that banks take. this has made it clear that he wants to reduce the amount of securities financing .ransactions i you will see continued liquidity squeezed. i think too much is in the eye of the beholder. in my opinion, i would say it is hard to say that things are designed to reduce systemic risk are too much in the aftermath of what happened in 2008. forward, we are going to see that volatility has turned up too much because we pushed what the banks could do down to a greater degree than is advisable. we will find ways of dealing with that. that is a long term thing. i don't think that dodd-frank is going to get reopened. >> there is of course the volcker rule. there is the fed's interpretation. morning,ve seen this there is this new concept of total loss absorbing capacity equivalent to 20% or more of a banks risk rated asked -- asse

what we'll hopeful for is the hard fought for laws that we have in dodd-frank will maintain.e have regulations that have just been rolled out, and more that will soon be rolled out, and to make sure those stay intact is important for consumers right now. >> there is a lot of speculation that if republicans take over the senate, some of these reforms will be rolled back. when we come back, we're going to get into that, and ask if it's time to try out an alternative system for size. plus we'll reveal which cities have the highest and lowest out of network, atm fees. and why record world debt could mean another financial global crisis not too far from now. >> america votes 2014 midterms it's all come down to this... >> you are going to determine whether i'm going to be the next senator from iowa >> the candidates last chance to convince voters they're the one... they will stop at nothing to get your vote >> david young, how are you? >> run for congress >> it's important to be out here talking to voters >> director aj schnack's unprecedented series concludes >> it's certainly som

>> dodd-frank, the banking committee certainly going to be taking a look at dodd-frank. i called it frequently obamacare for banks. the big guys are doing just fine under dodd-frank. community bankers are struggling. i do think banking committee will want to take a look at how much damage it has done to the little guys who had nothing whatsoever to do with the with the meltdown in 2008. i would be surprised if the banking committee isn't going to take a look at it. may send something our way. joe. >> senator you said after 2010 you were surprised president obama did not shift more toward the center. does he have a responsibility after message from the american people last night to do that now? did you communicate that with him on phone call? >> i hope that is what he does. you can't do anything without a presidential signature. you mentioned it. veto pen is a pretty powerful tool. rage fan and clinton are, reagan and clinton dealt what they had. clinton never had the house. -- reagan never had the house. clinton didn't have the house for six years. he can probably stay o

what we'll hopeful for is the hard fought for laws that we have in dodd-frank will maintain.e have regulations that have just been rolled out, and more that will soon be rolled out, and to make sure those stay intact is important for consumers right now. >> there is a lot of speculation that if republicans take over the senate, some of these reforms will be rolled back. when we come back, we're going to get into that, and ask if it's time to try out an alternative system for size. plus we'll reveal which cities have the highest and lowest out of network, atm fees. and why record world debt could mean another financial global crisis not too far from now. ♪ >> hi, my name is mandy woodruff, i'm a personal finance minister for new york city, and i'm in "the stream." >> we're discussing the state of the u.s. economy six years after the great recession. one change consumers feel daily is increases in various banking fees. the cities with the highest atm fees are milwaukee, houston, san diego, denver, and phoenix tops the list. the cities with the lowest, los angeles, pittsburgh, a

this was created by the dodd frank legislation. it has delivered $3 billion to consumers and settlements with financial institutions over fraudulent lending. mr. sullivan, you said you would vote to abolish the consumer financial protection bureau. why do you think it should be abolished? >> i am somebody who believes in the constitution and abiding by it. the consumer financial protection bureau is actually -- there are serious questions on the constitutionality. let me make a broader point. that was part of dodd frank. that waslegislation passed, but the regulations that came out. very similar to obamacare. you talk to a small community of bankers in alaska, they are so overburdened by regulations from dodd frank. they feel they cannot move forward. it is crushing our small community bankers. throughout the state. one of the most famous bankers in the state mentioned to me that the bank that his family started -- they could not do that today. overregulation of the banking system. particular,ed, in the consumer financial protectio

that was part of dodd frank. not only legislation that was passed, but the regulations that came out. very similar to obamacare. you talk to a small community of bankers in alaska, they are so overburdened by regulations from dodd frank. they feel they cannot move forward. it is crushing our small community bankers. throughout the state. one of the most famous bankers in the state mentioned to me that the bank that his family started -- they could not do that today. overregulation of the banking system. they mentioned, in particular, the consumer financial protection bureau as an entity that is not helping, but actually a burden to getting loans up to small businesses. >> thank you. do you think that the consumer financial protection bureau is doing his job? are you concerned that it is hampering commerce? >> it is doing its job. as you identified at the beginning of the question. it has saved consumers billions of dollars. also, military people. a lot of our active military have been ripped off by payday loans a

. >> we now have at least two thirds of the rules under dodd-frank rolled out. a clear picture of what capital and liquidity requirements are. we have a good picture of what the governor's requirements are coming out of dodd-frank. we have a much better feel for what the new world post dodd-frank looks like. >> a new world, he calls it. what might we start to see come out of banks? >> one very interesting thing, he said we know two thirds of the rules. 300 rules25% of these required under dodd-frank that have not even been proposed yet. that was four years ago. if dodd-frank was so important, if these rules were so important and they have not even been proposed for four years, maybe we do not need these next 25% of the rules. that part i think is open for question. in terms of acquisitions, i bb&ght eb nt -- i thought witheal was 1994 deal done 2000 pricing. it did not change that franchise at all. i would argue that the long-term growth rate of bb&t has been lightly reduced with this transaction. >> obviously kelly king we disagree saying investors need to take

. >> well, it's sort of a by product of dodd-frank. which as you know the authors have tried to create the perfect credit list. so they have to revisit that and hopefully in the near future with what the the outcome of the election they will get to revisit certain provisions. lou: as a result of this election, i'm talking over the course of the next 26 months while this president is in the oval office. what is the likelihood that this will be enhanced for anyone in the marketplace that we'll see some sort of wealth returned to the real state of the housing market remapped. >> it's all about jobs, jobs and jobs and more jobs. housing will follow if the job growth is there and consumer confidence is there. we have consumer confidence than is ever so slightly improving and we need good jobs to fuel the housing industry and i suspect with a much different is this climate and macroeconomic environment, those jobs are forthcoming and housing will follow that. lou: to what degree do you think the new republican-led senate, what has been perce

we put in place all of these rules in the united states as a result of dodd-frank. step behind us. there's market migration going on between the two nations. there's some regulatory arbitration where people say the rules may be too tight in the u.s., so we will go to the eu. that can happen around the world, other places. example, we are in 85 countries around the world. making sure there are fair, sensible, harmonized rules. that is what i would do if i could come back for one day. it doesn't have to be uniform, but there has to be deferential compliance. the eu has to say, we like the usa rules. wouldn't you agree, terry? >> right now london is trying to become the financial center of the world, not just of europe. >> is that because they basically pushed everybody out five years ago? >> there's no question about it. now they're trying to bring everybody back. even when the transaction taxes were proposed throughout the european union, the british government him out and said we will not accept that. what we need to make sure is regulators are not competing in glob

>> dodd-frank.he banks, the big city, the big money banks in new york to more or less deal with this are having a hard time. out there in the country, small countries -- small businesses have been strangled by a new reporting requirements and community banks are having a very difficult time. we are talking about mean street, they supply jobs in the middle of the country. dodd-frank has got to be -- dave: when you have lobbyists fiddling with dodd-frank is usually the big banks that get the deals and small banks are let out in the cold. >> in this case the big banks are willing to do some revisions on dodd-frank. regulation, energy egulation, has to be deregulated and quickly. keystone, the power plants have been closing. republicans with huge majorities can use the power of the purse to start writing in blocks on epa continuing the shutdown. dave: i have been hearing karl rove, will be about the keystone. what does he do with the keystone. will be signed on to that with the opening gesture, and ston

. >> senator, what about dodd-frank? >> what about a window that you have to pass big legislation next year and how willing are you to try -- >> david, i think that's -- we got to finish this year's session first. harry reid is still the majority leader. i think the immediate discussion we're going to be having is what should we try to wrap up during the lame duck. there are a number of things that have been put off. >> do you have any preference for the way the spending bill is handled? >> say that again? >> it expires in december. >> we are talking about whether to do a tax extending package. there are a number of things that have sort of stacked up and i think i said it before and i'll say it again. the senate hasn't been doing anything. there's a lot of unfinished business sitting there. some of which it might be advantageous to get out of the way. democrats may want to do it. we may want to do it in order to clear off some of the necessary work that's been undone in the dysfunctional senate. >> what about dodd-frank

mitch mcconnell wants to take away dodd-frank.ng to get somewhere with the republican senate? are there areas they can repeal the good work you did with senator dodd? >> i hope they try. i agree, the auto bailouts are popular. mitt romney had trouble trying to explain why he hadn't been for them. much of the specifics are popular. government is a rare example that exists in the political world, but not in the physical world. >> i agree. >> but with regard to financial reform, they don't like the consumer bureau. let them try to dismantle that. they want to re-deregulate derivatives. they talk a good game here. i think in the end, they aren't going to do this. the american people, if there's anything they dislike more than incompetent government, it's the financial reform. they think the financial industry was treated too gently in response to the crisis. so if that's what mcconnell thinks, can i just say, one thing he said that i thought was extraordinary. in self-denigration. he said when the president talked about doing some thi

finally, many in the gop have opposed all or part of the new dodd-frank banking regulatory reform act passed in the wake of the financial crisis. efforts to water it down could make the gop seem overly friendly with wall street. good for public contributions but not necessarily good politics. the senate such an overfemming fashion was a tremendous feat. as the saying goes now comes the hard part for the gop, actually governing. i'm steve liesman. >> some encouraging news today about jobs. payroll firm adp reported private employers hired aid better than forecast 230,000 workers in october, that was the most notice four months. an encouraging sign ahead of friday's october employment report from the labor department. >> and, of course, jobsen an wages are a big issue at election time this time around, as well. and now with republicans in control, what does it mean for the labor market? let's turn to diane swan, chief economist at mesereau financial. good evening. >> good to see you. >> is there anything thatting this congress and then president can do to keep the momentum going? we now

the big guys are doing just fine under dodd/frank. the community bankers are struggling. i do think the banking committee will want to take a look at how much damage it's done to the little guys who had nothing whatsoever to do with the meltdown in 2008. i'd be surprised that the banking committee isn't going to look at it. they may send something our way. >> reporter: senator, you said you were surprised that president obama did not shift more towards center. does he have a responsibility after last night to do that now? did you communicate that with him on the phone call? >> i hope that's what he does because you can't do anything without a presidential signature. several of you have mentioned it. i mean, the veto pen is a pretty powerful tool. and i think both reagan and clinton are good examples of accepting the government you have rather than fantasizing about the government you wish you had. in other words, they dealt with what they had. reagan never had the house. clinton didn't have the house or senate for six of the eight years. so, you know, the president's real

times people this year have said all you watergate babies are gone now, you and max baucus and chris dodd and then on the house side george miller and henry waxman. so this is the last of the watergate babies. i always have to remind them, i say there's one left. who's that, they say? it's a republican. a republican? who's that? my colleague from iowa, chuck grassley is sort of, i say, the last man standing from that class of 1974. i think it's again, a tribute to senator grassley that through all these years he has won the hearts and minds of the people of iowa, been elected and reelected. he came to the senate before i did. he came in 1981 and i came in 1984. so i'd like to think that we at least share in common at least bucking the trend a little bit or the tide because in 1984 someone said harkin, you had a run for the senate in 1984 because there will be a big democratic landslide here. so i ran and whoa, boy, the tide was just the opposite. it was a reagan landslide here but i was fortunate enough to be able to win elections. so i think the the two of us share sort of bucking the ti

. >> what about dodd-frank? >> the banking committee certainly is going to be looking at dodd-frank. i called it obamacare for banks. the big guys are doing just fine under dodd-frank. the community bankers are struggling. i do think the banking committee will want to look at how much damage it has done to the little guys who had nothing whatsoever to do with the meltdown in 2008. i would be surprised if the banking committee isn't going to look at it. they may send something our way. >> you said after 2010 you were surprised that president obama did not -- did you communicate with him on the phone call? >> i hope that's what he does. you can't really do anything without a presidential signature. several of you have mentioned it. the veto pen is a powerful tool. i think both reagan and clinton are good examples of accepting the government you have rather than fantasizing about the government you wish you had. in other words, they dealt with what they had. reagan never had the house. clinton didn't have the house

>> two simple words, dodd and frank, the dodd-frank financial reform passed in 2010 and pass by the democraticood for a lot of wall street firms. >> they supported a lot of democrats, dodd-frank was looming, was there? >> in 2012, the president was running again, you want to make sure you're hedging. they know how to do that. they put money into the incumbent's, key candidates in the presidential race. now that he's gone. a lot of pressure. >> rich, seems like it's n wall street's financial interest in order to support republicans. you don't always see that as the case, they're voting with conscience and not about money, about doing better. why is it different? >> you are absolutely right. one of the most maddening and bizarre phenomenon, how much wall street money has supported the democrats, and -- >> we call them fat cats, who hate them. >> sick of the regulation being and the punching bag. this is front running money, who they think is going to win. >> they are just paying who they think is going to win. >> who should be in power. >> wall street is not the only big spender, tv ad spending

>> dodd frank. >> the banking committee certainly is going to be taking a look at dodd frank. i've called it frequently obama care for banks. the big guys are doing just fine under dodd frank. the community banker is struggling. i do think the banking committee is going to want to take a look at how much damage it's done to the little guys who have nothing whatsoever to do with the meltdown in 2008. i would be surprised if the banking committee isn't going to take a look at it, and they may throw something our way. >> senator, you had said after -- you were surprised that president obama did not shift more towards the center. does he have a responsibility after the message from the american people last night to do that now, and did you communicate that with him in the phone call? >> well, i mean, i hope that's what he does because you can't really do anything without a presidential signature. i mean, several of you have mentioned it. i mean, he -- the veto pen is a pretty powerful tool. clinton didn't have the house or senate for six of the eight years. the president has a cho

>> the smart thing would be for him to compmise on a few basic parts of obamacare, dodd-frank, targeted tax cuts. the economy would grow. a problem in the jobs number i wage growth is crumby. we would be better. you know what? he'd probably elect hillary clinton president but he can't do it. they are talkin to him every day. he will not do it. from the grave. >>e haven't had the pleasure of your company in awhile here. you are sll a hater. allight, be stein, what do post the tuesday d wether the night, it was -- this was the one thing he was clear on. it makes no economic sense, if you look at the unemployment numbers, they are getting better. wages are still low. we have a real problem in this country with wage growth on the low end, bringing people in that work for peanuts, as charles said makes it worse. the demographic strategy of the democratic party was put to the test the other night and they lost. i wonder if they go this far, will they be able to win again in two years? >> very good point. >> i think, charlie, you are wrong on every count. >> thank you. >> first of all, busines

department dodd to finish the is survey. >> any other questions on comments from commissioners? >> any public comment on this item? >> all in favor say, "aye". >> aye. >> any opposed? there is no opposition and no abstentions. thank you. next item. >> item 10. discussion item. risk scores report. >> good afternoon, what i bring to your attention and i have two things so i'm going to talk on these. the presentation terld and why i'm here today. in december 11, 2012, we discussed the metrics pool for the kaiser and uhc and at that time we were able to get from vendors a very clean set of rx tapes, pharmacy tapes and run the analysis and we presented that analysis. what we suggested at that time was that the kaiser had a much better set of risk and the differential was approximately 5 percent. so we presented this material, we used the information that we could and risk scorings where you take all the drug use over the period of one 1 year and you say if they took this drug you add it to go and accumulate it and say this risk that is this data and the end result is if one is normal

that was part of dodd frank. with not only legislation that was passed, but the regulations that came out. and it is very similar to obamacare. you talk to small community of bankers in alaska, they are so overburdened by regulations from dodd frank that they feel they cannot move forward. it is crushing our small community bankers. i have talked to them throughout the state. one of the most famous bankers in the state mentioned to me that the bank that his family started -- they could not do that today. given the overregulation of the banking system. and, they mentioned, in particular, the consumer financial protection bureau as an entity that is not helping, but actually a burden to getting loans up to small businesses. -- small businessman, small smallss woman, -- business women, and keeping the economy moving. >> thank you. do you think that the consumer financial protection bureau is doing his job? are you concerned that it is hampering commerce? >> first off, i think that it is doing its job in certain ways

charles: i think that dodds s frank may be scrapped or modified. >> or keystone pipeline.harles: let's talk about what might happen that would benefit main street because g.o.p. won, i don't think anyone would argue to could pand on energy policy, and if we tamp down on dodd-franks, so average person can get a loan at the bank. >> i know i am getting labeled the greeny, but what about solar city, and elan musk, going to government, able to get funds to start you know other companies, and you know, i think that is at play, what is going t to have a impact on the companies, with the new policies are energy stocks natural resources and gasoline, fracking. >> people at home watching, equateing what this elect means, it does, you see energy companies put money in hopefully that tampers down their regulation that makes company do better, look at those sectors. >> this is really -- that is play for personal home, the grassroots play. >> soil la we have big news for. first we check in with neil cavuto. >> thank you, tonight on cavuto from christmas don't be late to christmas way t

you and max baucus and chris dodd. on the house side, george miller, henry waxman. so this is the last of the watergate babies. and i said, no, there is one more. who is that, they say? a republican. my colleague from iowa, chuck is sort of the last man standing from the class of 1974. i think it is a tribute to senator grassley that, through thethese years, he has won hearts and minds of the people of iowa and been reelected. i became the senator before did in 1981. i came in 1984. i like to think that really share in common bucking the trend a little. because in 1984, someone said harkin, you have to run for the senate because there will be a a democratic landslide here. so i ran. whoa, boy. it was just the opposite. reagan landslide here. what i was fortunate enough to win reelection. so the two of us share bucking the tide, so to speak, to get into office when we ran. it has been a great association through all these years. on my 75thhere today birthday, i guess when you are i have to bang emotions. one, i wonder where the years went and why they went so fast. s

written rules on mandated by dodd/frank on executive compensation with regards to claw backs.pect that? >> yes, we were given a dozen mandated rule makings, we've adopted six, proposed three others, some jointly with other agencies and we have three or four yet to finish which includes the clawbacks. important rule making. it's not as simple to do, which is often the case with rule makings as it might look like at first blush but important to get done. since there are eight priority areas as i define it aunds dodd/frank, executive compensation and swaps are ones to yet to finish, the rest were done. so i'm pleased with that progress. but also focused on finishing those rules. >> you closed up fiscal year recently. what are top three priorities for the new fiscal year? >> again i think we need to complete our mandated rule makings under dodd/frank and jobs act or work on doing that. very focused on the comprehensive review of market structure, equity and fixed income markets, continuing the disclosure effectiveness review and making progress there. always focused on making enfo

it's not only the affordable care act, dodd frank, lily ledbetter, lots of important acts. he is going to try to hang on to those for his legacy. >> means there will be confrontations over the affordable care act. there will be confrontations over tax reform, but they will find common ground in my opinion in trade, the surface transportation bill and a variety of other things that the house and the senate will agree upon. i think he will go with it. so, i think it's going to be hard for the president. he is go to go have to recalibrate and adjust, but the iranians are going to have to do that, also. i don't think it's all going to be threatened vetos and veto did over the next two years. >> this question, i know, has come up in your class on so many different occasions but do you think if you could go back to the founding fathers and change the way the executive branch was set up and have a single six-year term for the president, would he that effect change? >> one thing would be to have a 4-year term in the house of representatives like a parliamentary system where every f

he can get rid of some really nasty aspect of dodd-frank, maybe some tax cut.he does that he will put hillary clinton in the white house and he will have a decent next two years. my guess he will go solo and i don't think the market will do very well. i don't think the economy will do well. i think it will be stuck in its current -- stuart: and what he does this afternoon -- i want to highlight three state races because i think we saw a tax revolt in these three. states that have high taxation rates. look at them. maryland, massachusetts and president's home state of illinois turned red. mary kissel from the wall street journal editorial board is here. that is a tax revolt. maria: is a tax revolt. you said it all. illinois pat quinn picked personal income taxes and corporate income taxes. you saw businesses fleeing that state, one of the worst performing state in the nation, same story in maryland. of valley heads, texas, 40 times their gdp growth zero last year, they are number 49 out of 50 states in the nation. mass. deval patrick same thing. his sales-tax hi

could they ease dodd-frank and others? maybe.ll see what experts say about the prospects for those banks. that and more coming up on "power lunch." keep it right here. tigers, both of you. tigers? don't be modest. i see how you've been investing. setting long term goals. diversifying. dip! you got our attention. we did? of course. you're type e* well, i have been researching retirement strategies. well that's what type e*s do. welcome home. taking control of your retirement? e*trade gives you the tools and resources to get it right. are you type e*? and you'll see just how much it has to offer, especially if you're thinking of moving an old 401(k) to a fidelity ira. it gives you a wide range of investment options... and the free help you need to make sure your investments fit your goals -- and what you're really investing for. tap into the full power of your fidelity green line. call today and we'll make it easy to move that old 401(k) to a fidelity rollover ira. i have $40,ney do you have in your pocket right now? $21. could som

>> his legacy was dodd-frank and obamacare.e's looking to do a nuclear deal with iran, which is a whole other topic which is a terrible idea. it's incumbent on the gop not to give in and make bad deals with this president if they control the senate. they shouldn't be sucked into terrible tax reform and hold out and wait and stand for their principles and force him to take tough votes. >> i want to talk about what that tax reform looks like. stay with us. let's get a look at what's coming up at the top of the hour. howie, good morning to you. >> good morning, maria. we're in new york as you know. the star studded midterm special. we'll get polls, pundits with andrew, rich, chris, frank, john and more. one of the many things we'll be examining is why these mid terms with senate control on the verge of flipping are getting such a low amount of coverage on the network evening newscasts. >> you cannot find any information about the mid terms on any of the major news networks, howie. it's extraordinary. if you want to find out what's

dodd frank and deregulate the investment banking.ormally, you get that wave of deregulation after you've recovered from the economic crisis. we're still in recovery mode, but yet, they're pushing to undo some of the protections. you'll see an effort to unwind some of the environmental protections the president has put in place. you'll see a a push on the keystone pipeline and probably the biggest impact, too, is if we have a vacancy on the supreme court. >> how then as a member of the min minority party if this turns out to be the case in the house and senate, how do you govern? how do you wage war on the fight that needs to be fought when you're fighting from that point? >> well, you know, i think there are a couple of things we have to do. one, we have to call them out on in the direction they want to take the country and this will you know, unfortunately for better for worse, the day after this midterm is when the presidential campaign gets started and what they do if they were to gain the majority in both house, will say a lot ab

>> the smart thing would be for him to compromise on a few basic parts of obamacare, dodd-frank, targeted tax cuts. the economy would grow. a problem in the jobs number is wage growth is crumby. we would be better. you know what? he'd probably elect hillary clinton president but he can't do it. they are talking to him every day. he will not do it. from the grave. >> we haven't had the pleasure of your company in awhile here. you are still a hater. all right, ben stein, what do you make of that and whether the appetite for change is there or not? >> well, i think it's a bad thing that mr. clinton showed to be more pragmatic. mr. obama is more id logically rigid. he's such an amiable guy in his persona, but his politics so rigid. i don't think he has program for the next two years. i don't think he had a program after obamacare except to disarm america and make us weak in the eyes of our enemy. i don't think he knows what to do except what you say, as charlie said, channel it from beyond the grave. >> adam, do you, as someone who is supportive of a lot of the president's efforts feel some f

dodd-frank is what it is. i don't know why he doesn't try to help the economic growth rate, which would probably help hillary clinton. >> this is a theory that i have and the only one who has it, but i've heard enough from the white house people who have talked to me, like the gardner and chef, who assure me the reason the president isn't giving an inch to republicans is because he really feels the administration really feels that the republicans have never offered a fraction to him. so this is a childhood case of tit for tat, what do you think? >> i agree with you. the one thing we have not said in this conversation, big business wants immigration reform, too. >> i said that two weeks ago. >> why do you want immigration? because they want lower wages, that's why. >> we'll take a quick break. in the middle of this arctic blast, something the white house is planning to send your heating simple safety steps are the best way to prevent these tragedies. make sure kids learn how to swim always watch them in and aro

against the frank dodd wall street reform act. do they really mean it? we'll find out. stay with us. >> on the next "talk to al jazeera", legendary tv host dick cavett. >> steve jobs said, "how does it feel to be dick cavett"? about the only question that's ever floored me, you know? >> "talk to al jazeera". saturday. 5:00 eastern. only on al jazeera america. >> you're watching inside story a.m. if last night's election is not solely symbolic language, if there is really a difference about the parties. professor, when people say these are the things i'm for, does it necessarily follow that they vote for candidates who are also for those things? >> not at all: they'll vote the way they always vote. they'll answer that question because we're asking them to answer that question. the degree that just cuts through a lot of that. can't be understated. most people are rested on democrats, rested on republicans. that is perhaps the biggest thing you've got to report when passing survey data. >> they don't seem conflicted. are they ill -informed? help me understand what's going

. >> the banking committee is certainly will be taking a look at dodd frank. i have called the obamacare for banks. the big guys are doing just fine, the committee bankers are struggling. i do think the banking committee will look at how much damage it has done to the little guys that had nothing to do with the banking meltdown. >> you are surprised that president obama did not shift more towards the center. does he have a responsibility to do that now and e.g. communicate with him in the phone call? >> you cannot really do anything without a presidential signature. several of you have mentioned it. the veto pen is a pretty powerful tool and i think both reagan and clinton are good examples of accepting the government you have rather than fantasizing about the government you wish you had. in other words, they don't but they had. reagan never had the house. the president has got a choice, because of the strength of the veto pen, he could stay on the current course he is on. just be telling any effort we make to push back against what he's doing and having the p

people are mad about, because stuff doesn't get done. 8 $30 billion stimulus is not chopped liver, the dodd-frank -- such legislation, 75 and the affordable care act was the largest expanse in the entitlement act in 50 years. >> when you hear the president say he wants to hear what republicans have proposed, he wants to hear their agenda. he basically said, if the republicans have some ideas that i like, i'll listen to them. well, thank you very much mr. president and ed's question basically resulted in an answer, i'm not doing anything different on my end. >> including plowing ahead with an executive order on immigration. >> it remains to be seen how much he thinks he can actually do. from a republican point of view, like some sweeping amnesty, i'm not sure it will be that, but obviously that's something we'll be thinking about. >> how about mitch mcconnell's press conference, which is much more interesting, he was talking about about the republican base, saying curb your enthusiasm, you can fantasize about the government you would like to have or you can deal with the one you've got, and no mat

>> you know, i am watching unintended consequences actually become consequences regarding dodd/frankch passed in 2010, and the implementation which is ongoing. specifically, i'm talking about two new scarlet letters for the business community. we'll have to tune in after the break to see what they are. ameriprise asked people a simple question: in retirement, will you have enough money to live life on your terms? i sure hope so. with healthcare costs, who knows. umm... everyone has retirement questions. so ameriprise created the exclusive confident retirement approach. now you and your ameripise advisor.... can get the real answers you need. start building your confident retirement today. e financial noise financial noise financial noise financial noise (receptionist) gunderman group. gunderman group is growing. getting in a groove. growth is gratifying. goal is to grow. gotta get greater growth. i just talked to ups. they got expert advise, special discounts, new technologies. like smart pick ups. they'll only show up when you print a label and it's automatic. we save time and money

they're saying that this is so important to carrie's point they have to stop dodd-frank.o rotech too big to fail. this is had for them, hillary. >> they need tax reform. i think tax reform is number one motivating so much these contributions and influence. >> it is all regs lace. -- regulations. you ask why they do it. government regulation they want less of it. whether banks, whether oil and gas, whether it is tech. they want less government around them. they're buying that government. >> why does the security industries go with president obama first time around? into they knew he was going to win. they were betting on the horse. when you sit down attract, you may not like the jockey you know who will win you will put money on it. charles: they are trying to influence the winner. they tried to buy favor with the president. let's admit it, new york city, there are wealthy limousine liberals. they took talk the walk and damn sure don't walk the walk warren buffett. >> he gave all his money away to avoid estate tax. charles: yeah. >> they're basically buying influence and t