that's what dodd-frank does. this bill eliminates the ability of fsoc to determine and tell banks that they must give us living wills. the speaker pro tempore: the gentleman's time has expired. the gentlelady from california reserves. the gentleman from missouri is recognized. mr. luetkemeyer: thank you, madam speaker. with that we want to recognize the gentleman from colorado, mr. tipton, one of our hardest working members on the committee, two minutes. the speaker pro tempore: the gentleman is recognized for two minutes. mr. tipton: thank you, madam speaker. i'd like to thank my colleague from missouri, representative luetkemeyer, for offering this important piece of legislation under consideration today. the bipartisan systemic risk designation improvement act replaces an arbitrary asset threshold with indicator-based approach that will better assist financial stability oversight council in determining the true systemic risk of a financial institution. it is a mistake for regulators to continue regulating a $5

this bill, dodd-frank, of what i speak now, this bill, dodd-frank, when it passed, allowed us to look at the entire economic order and to determine whether or not there were institutions that were a systemic risk to the economic order. prior to dodd-frank they were all siloed. prior to dodd-frank we had long-term capital, long-term capital was the first canary in the coal mine and long-term apital had its demise in 1998. ms. waters: i yield 30 additional seconds to the gentleman. the speaker pro tempore: the gentleman is recognized for 30 seconds. mr. green: long-term capital had its demise in 1998. it was a canary in the nth coal mine. bear stearns followed as well as indy mack, countrywide and wami. they followed in 2008. we didn't have a system that allowed us to recognize these canaries in the coal mine and take affirmative action. this is what dodd-frank does. this is what fsoc does. tanned would be a severe mis-- and it would be a severe mistake for to us vote for legislation to repeal these bills. we're going to live to regret this vote. those who vote to repeal will live to re

dodd-frank codifies it. dodd-frank spells out exactly how it should happen. so, mr. president, it is my strongly held view shah we need to -- that we need to reform dodd fraifnlgt it is overdue but it needs substantial reforms. those reforms should include making sure that taxpayers never have to bail out another giant institution. that's just wrong. that should not be on the table. in fact, it should be precluded. a second thing is that taxpayers should not be forced through the mechanisms of this bill to make banking products more expensive for consumers. less available, more expensive, fewer products and services. we can do this while we maintain our ability to deter and detect and prevent and prosecute fraud when it occurs. that absolutely is a fundamental responsibility that we have, and we can do that. but most importantly, we've got to enable a vigorous competitive market for financial services to respond to consumers with new services and new products at ever-lower costs and to have a market discipline that forces those institutions to behave prudently becaus

this bill, dodd-frank, of what i speak now, this bill, dodd-frank, when it passed, allowed us to look at the entire economic order and to determine whether or not there were institutions that were a systemic risk to the economic order. prior to dodd-frank they were all siloed. prior to dodd-frank we had long-term capital, long-term capital was the first canary in the coal mine and long-term apital had its demise in 1998. ms. waters: i yield 30 additional seconds to the gentleman. the speaker pro tempore: the gentleman is recognized for 30 seconds. mr. green: long-term capital had its demise in 1998. it was a canary in the nth coal mine. bear stearns followed as well as indy mack, countrywide and wami. they followed in 2008. we didn't have a system that allowed us to recognize these canaries in the coal mine and take affirmative action. this is what dodd-frank does. this is what fsoc does. tanned would be a severe mis-- and it would be a severe mistake for to us vote for legislation to repeal these bills. we're going to live to regret this vote. those who vote to repeal will live to re

that's what dodd-frank does. this bill eliminates the ability of fsoc to determine and tell banks that they must give us living wills. the speaker pro tempore: the gentleman's time has expired. the gentlelady from california reserves. the gentleman from missouri is recognized. mr. luetkemeyer: thank you, madam speaker. with that we want to recognize the gentleman from colorado, mr. tipton, one of our hardest working members on the committee, two minutes. the speaker pro tempore: the gentleman is recognized for two minutes. mr. tipton: thank you, madam speaker. i'd like to thank my colleague from missouri, representative luetkemeyer, for offering this important piece of legislation under consideration today. the bipartisan systemic risk designation improvement act replaces an arbitrary asset threshold with indicator-based approach that will better assist financial stability oversight council in determining the true systemic risk of a financial institution. it is a mistake for regulators to continue regulating a $5

to get rid of dodd/frank.we have to get rid of dodd/frank. you know, you people borrow money, and dodd/frank really concentrates business in far fewer hands, if you logistic at what the result is. >> one of the results that donald trump didn't look at, one of the results of dodd/frank is the consumer financial protection bureau that was created in the dodd/frank banking reform bill that donald trump now wants to repeal. the consumer financial protection bureau is one of government's great, and i mean great recent success stories. as of the last accounting in the middle of last year, the consumer financial protection bureau has delivered over $10 billion in relief to consumers who have been unfairly victimized by financial institutions. the consumer financial protection bureau fined wells fargo $185 million in september for its abusive practices involving credit cards and opening unauthorized credit accounts and bank accounts in the name of wells fargo customer, and outrageously fraudulent practice for which th

frank -- by dodd frank. we also need to continue to address the threat posed by bottomless short-term debt. as evidenced by recent concerns of retail banks, we have to step up our monitoring and enforcement activities. look at wells fargo. the justice department, i cannot speak to it because i don't talk to them. they are reviewing whether or not there are criminal stations here -- sanctions here. let's be clear, this should never be allowed to happen again. millions of families paid the price for irresponsible and reckless policies. our regulators need to have the resources to catch this activity before it gets out of control. it is pretty basic. you don't have to be an economist to understand this. you have to be an economist. it helps. that is why i have some brilliant economists working for me. you don't have to be on economists to understand this. look at what caused the problem in the first place. look at what we did to correct the problem. my little grandson would say it is not rocket science. ladies

cushions to absorb bank losses from mistakes, dodd-frank reporters caution mr.mp into rolling back the law. >> dodd-frank came into place after one of the worst collapses in decades there. was lacks regulation, that the banks were getting away scot-free and there rules on the books for citizens to protect savings, to protect mortgages and main street americans suffered. >> reporter: mr. trump may not favor total deregulation of banks, in october he criticized president clinton's reform of the glass-steagall act by spinning off banking operations, mr. trump supports a 21st century version of glass-steagall. back to you. cheryl: so much to follow. peter barnes out of d.c., thank you. >>> we've got the closing bell ringing, about 40 minutes to go. you know most of you have bought an echo from amazon over the holiday. but can the echo and alexa the digital assistant solve a murder? police in arkansas say the answer may be yes. why is amazon refusing to help the police? fox business' jeff flock is on the case for us. >>> and a busy day for donald trump. the president

many to change the fcc rules created by dodd frank.aid, weman volcker need to address the threat posed by volatile short-term debt, and as evidenced by the recent concerns of result banks, we .eed to step up our monitoring look at wells fargo. look at wells fargo. the justice department, and i cannot speak to it because i do , is reviewingem whether or not there are criminal sanctions here. the thing that ordinary people go to jail for. let's be clear. this should never be allowed to happen again. pay the of families price for reckless and irresponsible policy, and our regulators need to have the catch a safety net before he gets out of control. that is pretty basic. like me, you do not have to be an economist to understand this. do not have to be an economist. it helps -- [laughter] vice president biden: that is why i have some brilliant working for me, but you do not have to be an economist to understand this. look at what caused the problem in the first place. look at what we did to correct the problem, and ask now is it is willing

frank -- by dodd frank. we also need to continue to address the threat posed by bottomless short-term debt. as evidenced by recent concerns steptail banks, we have to up our monitoring and enforcement activities. look at wells fargo. the justice department, i cannot speak to it because i don't talk to them. they are reviewing whether or not there are criminal stations here -- sanctions here. , this shouldr never be allowed to happen again. millions of families paid the price for irresponsible and reckless policies. to have thers need resources to catch this activity before it gets out of control. it is pretty basic. you don't have to be an economist to understand this. you have to be an economist. it helps. that is why i have some brilliant economists working for me. you don't have to be on economists to understand this. look at what caused the problem in the first place. look at what we did to correct the problem. my little grandson would say it is not rocket science. ladies and gentlemen, let me close with

starting with the dodd-frank law. peter burns has more on the story. peter.ter: president-elect tom said the president obama and regulations have heard economic growth. >> dodd-frank has been a disaster make it hard for small businesses to get the credit they need. >> the banks are loaning money to people that need it. reporter: republicans in congress want to repeal and replace dodd-frank which president obama signed into law in 2010 after the financial crisis and billions in taxpayer-funded bailout. the limits on mr. bank at cities such as trading in derivatives securities and kind of tough new rules and create a new regulatory bodies including the consumer financial bureau and beefed up powers for federal reserve and other agencies. during the transition the website said the economy does not work for working people. bureaucratic red tape at washington mandates are not the answer. generally, republicans have increased bigger cash cushions from mistakes. >> that came into place after the worst financial collapse in decades. one of the reasons and the law was

a lot of people are wondering what dies in dodd/frank.hat's the most onerous part from your standpoint? steven mnuchin said, look, banks have to lend again. what are the areas of dodd/frank you think need to go away? >> well, maria, it's kind of a target-rich environment because it harmed us in so many ways and is a key contributor to our 2% growth. the federal government should not be in the business of designating too big to fail firms. because of that, under dodd/frank, the big banks have gotten bigger and the small banks have gotten fewer, and the taxpayer has gotten poorer. second of all, we have a taxpayer bailout fund. this is crazy. did we not learn anything from the financial crisis? so we need to replace bailout with bankruptcy. and we need to replace private capital with federal control. and under the house financial services bill, what we call the financial choice act, what we do is we give financial institutions a voluntary dodd/frank off-ramp. if you'll have a 10% simple leverage ratio, in other words, raise a whole lot of l

that's why we cannot allow the repeal of dodd frank.can't go back to the days when the banks were free to take your depositors money. we can't go back to the day when financial companies take massive risk with the knowledge that taxpayer bailout is around the corner if they fail. we cannot afford that. the country cannot afford that. afforddle class cannot that. we need to make sure executive compensation does not go back to short-term. i spoke at length about stock buybacks. do not have the incentive to build for the future but rather swing for defenses today. they are not bad guys or bad women. incentivizes. that is the incentive. it started in 1980 when ronald did it. we need to change this as well in my opinion. -- sec rulespeal created by don-frank. toalso need to continue address the loopholes by long-term debt. we need to step up our monitoring of enforcement activities. look at wells fargo. the justice department and i cannot speak to it because i do not speak to them. they are reviewing whether or not there are criminal sanctio

what dodd-frank, what the rules say dodd-frank plus the rules say about our shirt manufacturing company, the charlie rose, broin moynihan company is that we could only operate seven shirt factories. three we had to leave idol for that unusual time when there might be enough demand i have to fill it we never want a shortage of shirts. so the question is what if it was two extra shirt factories instead of three. that difference for us, to put it into numbers would be $16 billion or $160 of lones we could make. so it doesn't mean you have no insurance, that would be too, you know, two out of nine or two out of seven, 30%, 25, 30%. but think about that. instead of having three idol factories for that once in a lifetime chance or once in a hundred years shall whatever, that i would be able to produce enough shirts to meet that demand, have i too have those three, that is $160 billion of loans, that would help growth. and so that's the debate, is the insurance policy set right. and then there is the eu78 plementation of regulation and work around. but if you think about it, the other thing i

they're out to destroy dodd-frank. they're out to destroy the consumer financial protection bureau, and they keep coming forward as they're doing today to protect wall street. and so i ask my colleagues to consider the great progress we have made since the enactment of wall street reform to fix the blind spots that prevented our regulators from seeing the big picture. our u.s. financial system is increasingly complex, and the regulatory structure for the oversight of our system was fragmented before the financial crisis. this was particularly true of the insurance industry, which is regulated primarily by the states. and while our state-based system for insurance regulation has many strengths, by its very nature it's ill-suited to address all of the issues related to large globally active insurance companies. that is why dodd-frank, while continuing to recognize the premise of state-based regulation, changed many of the ways in which the insurance industry is supervised for consolidated supervision and enhanced regulat

the extent in which this is a complete seismic change and there will be a pass of deregulation and dodd frank or whether people were close to trump who are in favor of some of the stuff that he wants to do. and not go and raise capital levels significantly and i don't think we have an answer to that. shock, awe, surprise, all of those things went through my mind and i thought about the columns i would have to write and i got very depressed. >> steve. >> so, ben were you on the -- you wouldn't have been on the conference call. there was a conference call that i'm probably not supposed to talk about but i will anyway. early in the evening with nbc and the people that did the exit polls and i remember trying to listen to him. the person that was talking and then it was early on the evening and something was not about to happen the way it was expected to happen and i can't quite describe to you what it said except that it's reminding me of the guy and it's not designed for this. it's not designed for this and kept making me think something is weird here and then the stuff starts coming in a

. >> on that front, he also talked about dodd-frank and lending. >> the number one problem with dodd-franks is it's way too comp can indicated, and it cuts back lending. so we want to strip back parts of dodd-frank that prevent banks from lending. that will be the number one priority. >> he did say number one priority to a number of things. >> and he said the volcker rule was too complicated. it will definitely be applauded and celebrated by the banks. we don't have specific policies yet. incident was definitely coming through with some of the optimism we have seen. >> especially the regionals. jeff solomon told us yesterday that really would bode well for them. because the lending is their bread and butter. if they strip down dodd-frank, that has been hurting them. >> the banks were up yesterday. still to come, president-elect tru trump, what his picture for treasury secretary said about that. ♪ ♪ generosity is its oyou can handle being a mom for half an hour. i'm in all the way. is that understood? i don't know what she's up to, but it's not good. can't the world be my noodles and butter

sir ken dodd. time now for the weather. as we get closer to new year's eve, here is stav.or midnight. this weather front is sinking south. it's brought a wet day for much of scotla nd brought a wet day for much of scotland and a wet evening for northern ireland. it will continue to sink southwards. by the time we reach midnight for the bells in scotla nd reach midnight for the bells in scotland it looks like it should have cleared most of the south and for northern ireland. wintry showers packing into the north and a risk of ice and a cold wind digging in. different story across the south. for england and wales it looks like it's going to stay cloudy. that cloud could thicken in places. it will be quite mild too. but really cold in the north. where it's going to be wet a bit of a disappointing midnight there. new year's day, that weather front is across much of england and wales, a wet first day of 2017. but the northern half of the uk will be cold, bright, sunny with wintry showers across northern areas. temperatures in single figures, as well. gentleman hello. gentleman

focused on trump the tax cutter, not the reformer. >> look at dodd frank. there is an idea that dodd frank will be repealed or watered down that banks will benefit. having had a number of meetings this morning, with some key players, what i've realized is the democrats still have a say. and the republicans may not have the 6 0 votes to do anything about dodd frank. what happens with that? >> through obamacare and tax reform you have the reconciliation process where you don't need democrats. all the other stuff, infrastructu infrastructure, dodd frank, legislature requires 60 in the senate. you will need a lot of democratic buy in on a lot of key issues. >> i heard a direct line from a meeting was, the democrats still matter. the market is too focused on the republican side. would you agree with that? >> absolutely. who is the leader of the democratic party, elizabeth warren, bernie sanders, chuck schumer, nancy pelosi? that democratic national committee race will be key to watch and which way do the democrats doe? do they go reinstructionist or do you have

and ken dodd, the veteran comedian famous for his tickle stick, becomes a ‘sir‘.ruption today. yesterday the uk‘s biggest airports, heathrow and gatwick cancelled more than 150 flights. the met office has issued a yellow weather warning across the south and south—east, as a blanket of fog is set to make driving conditions "difficult" and lead to yet more delays at airports. around 3,000 police officers will be on duty across central london tonight as crowds gather to celebrate the new year. scotland yard says extra resources have been brought in to keep people safe following the terror attacks in berlin and nice earlier this year. greater manchester police and other forces say they‘ve also stepped up crowd protection measures. 40% of councils in england have no procedures in place to prosecute people who misuse disabled parking permits. new analysis of official figures found blue badges could be used fraudulently without fear of being fined in 61 local authorities. the finding has been described as "staggering" by a disability charity. those are the main stories t

they will be the tug-of-war between those who really want to completely gut dodd-frank and not go and raise capital levels significantly. i just don't think we have an answer to that. shock, awe, surprised all those things went through my mind and then i thought about the cobra of columns don't have to write and got very depressed. >> van, were you one -- no, you would not bet on the conference call. as a conference call than i'm probably not supposed to talk about, but i will anyway, early in the meeting with nbc and i remember trying to listen to him, the person who was talking. it was very early on in the evening that i realized something was not about to happen the way it was expected to happen. i can't quite describe to you what he said except that it reminds me of that guy from the rocketry company and apollo 13 who cap saying it's not supposed to do this. it's not designed for this. give me an answer. it's not designed for this. something is weird here. and then the stuff starts coming in. here's a weird name, right? something like several thousand times the following conversat

. >> something you know well, dodd/frank.porate directors and when i intend those gatherings try to understand that space, you cannot go through a conversation without hearing dodd/frank. how would you make it better? >> well, you know, first of all, we have to have an honest conversation about dodd/frank. the republicans are going to have an opportunity to actually see whether they really intend to do what they say they want to do, repeal the affordable care act, throw 20 million americans off insurance, repeal dodd/frank? really? you want to take us back to a time where you could get a mortgage if you had no job and there was no credit check? do you want the derivatives market completely opaque and nobody know who is's selling what to whom and that got us aig? i think if the president-elect and his people go to those elements of dodd/frank you asked about, areas where we probably have some work to do, and i would list at the top some regulatory relief for our smallest banks -- we tried when we wrote dodd/frank to provide re

david: there is a lot of talk about dodd frank and amending and reforming it.articular aspects that you think may be have gone too far or not fit for the purpose they were originally intended for? , and: our approach to it largely our industry, it is not a lot of the parts we talked about in dodd-frank but getting the calibration right. for smaller companies to get caught in some complexities, we deal with it because we are bigger companies and they should be really from it, but we are talking about the application of rules, not necessarily have to change them. it is not an effort to get rid of dodd-frank, but more of if we take something and apply it to far, and that is more getting a debate going a bit about where we should fine-tune this. by the way, that is an honest debate everyone believes he should have because that is a responsibility of the industry and begin our community, to think about this and get it right because the calibration goes back to the growth. david: and he goes back to the identity of regulators, two seats on the fed, for example, one w

"banks to donald trump -- don't kill dodd-frank."kind of regulation hole back would banks advocate? upan: when you read , i thinkn like that what we are saying is, be careful. if we don't have that in place, what we end up having is a dispersion of the industry, and then it is hard to keep track of where the issues are and get them taken care of. a lot of the principles of dodd-frank were geared to the right ways to address the issues at the time. the question, the hard question, is the insurance policy worth the price of growth? -- the potential growth. if you have more capital. i get asked this question a lot and try to explain it to a lot of people. if you think of our company -- and how we have to have capital levels. let's say you and i were running a shirt business and we had 10 factories. what the rules say in dodd-frank about our shirt manufacturing company is that we can only operate seven shirt factories. three we have to leave idol so that very unusual time when there might be enough to men that facility, we never want a s

you would think dodd-frank would watch for the big tanks. why did he kill off small banks? >> is the same regulations across-the-board in banks of all sizes. john: your bank says we can afford to figure this out. >> absolutely one or two compliance officers can be the difference between profitability. john: a much more clear example is something called the export-import bank. >> the government take some of your dollars and mt of the companies and government in other countries. it's called the export-import bank. it's a great way for washington to give out favors to companies. good old cronyism. john: a few companies is right. most of the money goes to just a few big companies boeing caterpillar in ge. some principled republicans move to kill this and almost did. >> they almost did. spin table. it's probably going to be rather rise. john: they can kill anything? >> here's the thing why should taxpayers be on the hook to help the state-owned airline in ethiopia by airplanes from boeing. who decides whether boeing gets a subsidy anr ge or caterpillaro decides whether ford or c

dodd/frank is a disaster.sponse to a financial crisis that frankly the government did more to cause than anybody else. and it's just not acceptable to do nothing. we've got the white house, the house, and the senate. and we have democratic colleagues in the senate saying they will refuse to provide any votes or at least the votes they would need to get to the 60 vote threshold for legislation to reform dodd/frank. i hope that ends up not being true. i hope we can do this with democrat support. if they refuse to work with us, we can't let them have veto power over some really, really needed repeals and reforms. so fortunate we have a device, we have a tool and that is the reconciliation instructions from a budget resolution, allow you to pass legislation if it reduces the size of the deficit with a simple majority vote. and so i think that's exactly what we should prepare to do and be -- and actually do if the democrats don't join us in this effort. >> what is -- would your wish list be for what goes and what s

speaker this changed with the passage of the dodd-frank act in 2010. dodd-frank changed the insurance landscape and further enlarged the federal government's role in the insurance industry by creating a federal office specifically tasked with insurance matters. dodd-frank established the insurance office at treasury and charged its directry with representing the interest of u.s. insurance in the negotiating of international agreements. among other thing, h.r. 5143 seeks to prevent federal overreach and establishing essential guardrails for federal government when discussing insurance issues abroad. it is not intened to bring international negotiations to any type of halt. the team u.s.a. has experienced victories at the international association of insurance supervisors, it's kept congress informed of its attempt to negotiate the first of many covered agreements. however we should not underestimate the importance of the conversations or the implications they have on insurers and american consumers because they need to be heard, they need to be represen

now ken dodd has received a knighthood. the best day ever, you can't get better than this.ig theatres, i've worked abroad, but this is it. this is the day, yes. i'm very, very proud. actress patricia routledge, she's been made a dame. # yeah, you really got me going # you got me so i don't know what i'm doing... # kinks frontman ray davies said he felt "humility and joy" to become sir ray. lady anne. a knighthood too for award—winning actor mark rylance. figures from fashion and design have also been recognised. american vogue editor anna wintour said she was touched to be made a dame. designer victoria beckham becomes an 0be. and oscar—winning costume designer jenny bevan says she is supposed to be made and 0be. i'm not entirely sure it's sunk in yet. whether it has an impact other than just yet. whether it has an impact other thanjust being yet. whether it has an impact other than just being a very nice of recognition. it really pleasing. blonde actress naomi harris also becomes an 0be. as in previous years, the vast majority of owners have gone to people being recognised

now ken dodd has received a knighthood. the best day ever, you can't get better than this.res, i've worked abroad, but this is it. this is the day, yes. i'm very, very proud. if there's one thing i can't stand, it is snobbery. hyacinth would be proud. people who try to pretend they're superior. it makes it so much harder for those of us who really are! patricia routledge has been made a dame. # yeah, you really got me going # you got me so i don't know what i'm doing... # kinks frontman ray davies said he felt "humility and joy" to become sir ray. lady anne. a knighthood too for award—winning actor mark rylance. figures from fashion and design have also been recognised. american vogue editor anna wintour said she was touched to be made a dame. accessories designer anya hindmarch has been made a cbe. designer victoria beckham becomes an obe. and oscar—winning costume designerjenny bevan says she is surprised to be made an obe. i'm not entirely sure it's quite sunk in yet. and whether it has an impact other than just being a very nice of recognition. it's very pleasing. bond

david: dodd-frank light i think what you're talking about. jack, carbon energy has been under attack by the obama administration for past seven 1/2 years particular letter something like coal. a lot of coal companies like peabody and arch, having to declare bankruptcy. they shot up after the election. not just colby the way. a lot of oil stocks did well. will they do well as we see fewer regulations from epa and other institutions? >> i don't know if that is place you might want to put in that might do better. metallurgical coal rose with the price of steel. i think the floor is in for energy. the more important things earnings didn't grow because of a huge plunge in energy earnings. we reached the anniversary of that. if you look at the recent pace of growth and back out energy, you find close to 7% growth. i think you get 7% earnings growth next year. cheryl: certainly has been a crazy year for stocks. look. [fireworks] david: it was a terrible way to begin the new year. all of the stock indices are down. the dow was hitting 18,000 today bu

trading like not elizabeth warren has the authority over the reform of dodd-frank.am i crazy about that? >> i'm not -- >> it seems to be trading like this is a done deal. >> all this stuff will get undone rapidly. >> the stocks out there are declining and they're all good and work -- [inaudible] >> way below. >> financial -- all the financial stocks of the s&p 500. >> we've all seen in bank stocks and we have written stories to be about seems nothing to do with the prospects of regulation under the new administration. my colleague is a huge fan of the charts and he showed me early on that the gap between the the eight and 10-year yield is -- >> crumbcumb. >> it's normalization of monetary policy as far as i can tell given all the uncertainties we talked about, all these personalities that may or may not do what job. i think it's in that -- >> well, dodd-frank reform is one of the reasons the office is up. i agree with ben that the yield curve, the infrastructure for infrastructure spending, more inflation, the longer part of the bond, yield curve spiking up and the

now ken dodd has received a knighthood. i said to the fellow, "excuse me, can you help me out?"han this. i've played a lot of big theatres. but this is it, this is "the" day. i'm very, very proud. the bucket residence, the lady of the house speaking. actress patricia routledge — she's been made a dame. kinks frontman ray davies said he felt humility and joy to become sir ray. a knighthood, too, for award—winning actor mark rylance. bond actress naomie harris becomes an 0be. figures from fashion and design have also been recognised. american vogue editor anna wintour said she was touched to be made a dame. victoria beckham becomes an 0be for services to the fashion industry. the hillsborough independent panel was chaired by the former bishop of liverpool, jamesjones. he's now been knighted. 0bviously great pride, but mixed with sadness because of that enduring sadness of the families, who have continued to feel the loss of their loved ones at hillsborough. he's one of hundreds being recognised for their contribution across the uk. lizo mzimba, bbc news. joining me now from her ho

dodd eluded to that. the individual mandate which they don't like is that you have to have coverage or you get assess a tax penalty and it was very low and now it graduates to higher numbers so that more likely than not and correct me if i'm wrong will be repealable. then we had medicare expansion. we have by these budget acts stalled out slightly already with the exsize tax we have addressed in a correct fiduciary and pragmatic portion by the board and was delayed because it wasn't implemented and also stalled out the hit tax which would pay for expansion of coverage and isn't assess in 2017 for anybody. for us we may minimal hit tax and it is a wonderful thing. so, with that being said, we can go through all these things. they want multistate pools in the new prez dent elect platform and it talks about quite a few other items that are sort of like what dr. dodd said. i'm all the way to page 13. page 13 there is several cases where they said there are lawsuits now and some merit to discuss at this point

i am the ranking member, and i have been working hard to implement a dodd frank reform.went through a terrible crisis in 2008. many people lost their homes and the banks got away with murder. no, i don't trust him, i don't believe him, i have no intentions sitting down with him, i am going to fight him every inch of the way. i am going to help show the american people that they too cannot trust him, that this is a man that does not deliver to his promises and this is a man who treated in the so ca-called tru university. this is a man who did not pay his contctors. >> president-elect trump and those in his inner circle say they want to dismantle dodd frank regulations. i assume that you have said and you are going to work and stop that from happening. what's your strategy there? >> my strategy is education of the public. we got to tell them exactly what he's doing and what it means. first of all, he's gone and got all the wall street guys of most of their awards against dodd frank and want to dismantle it also. they got to know what it means and to be able to buy a house

ken dodd said he felt highly tickled by the owner of receiving a knighthood. i'm very proud. they are the ones who made it. thank you very much. do you think a lot of people would say it's long overdue? 0h, think a lot of people would say it's long overdue? oh, no. my library books are! no. a bit surprised and it's a wonderful feeling. how did you receive the news?|j it's a wonderful feeling. how did you receive the news? i have to share this award with all the people, all show business people, and particularly variety people, because they give so much of their time and their talent to good causes. so i shall be delighted to help them. and how does it feel to receive the award, notjust for the entertainment work but also the charity work you do? as i say, show business people are very generous. very generous with their time and talents. and they help all sorts of wonderful, wonderful charities and good causes, and i shall do the same. you've already got an obe, from the early 80s. and you've become so highly regarded in the world of entertainment. does this make that extra bi

what we have to do is repeal and replace dodd/frank. we have the choice act that's passed out of my committee, and what it says is we're going to substitute private capital for federal control, loss-absorbing private capital, but we won't free markets, we want competitive markets, we want market discipline, the day of bailouts are gone. we're getting out of the bailout business, and getting into the economic growth business and america is going to get working again. getting rid of dodd/frank has got to be priority number one. you have to have tax reform, regulatory reform, but you have to have capital circulating got to get rid of dodd/frank. >> we know you're excited to get to work. >> i'm very excited. >> we appreciate your time this morning. always a pleasure. >> thank you. thank you. >>> donald trump is set to meet with one democratic senator today. another as a possible contender for a cabinet post. is this part of a strategy tots red state democrats out of congress? we're going to discuss, next. where we explore. protecting biodiv

and the small businesses being impacted by dodd-frank, that's not true.re not venture capitalist. when you ask for a loan when you are a small business borrower, the first question banks have is what is your collateral, and people would -- small business lending was largely disguised home equity lending and now with home equity lending going away in the post crisis era, that's where the small business lending is smaller. >> it's often coinciding with the idea of reducing regulation a lot and require them to have more capital therefore you don't have to worry so much about -- >> in the post regulatory world, to require the banks more capital is silly. they are well capitalized now to slightly over capitalized, and the new administration to require banks to become more capitalized is rhetoric. >> what about those that will be administering, if you will, economic policy. do you know steve -- >> never met him. >> gary cohen? >> i met gary komen a couple times for a few minutes. >> where do you stand on the type of people you want in the place? i think you tal

we're going to get big corporate tax cuts, we might get fiscal stimulus, we might get dodd/frank roll backs, deregulation. they're pretty happy. >> one thing they're going to