and so deregulation has not brought us a whole lot and in terms was dodd-frank bill. voleker proposed a 10-page rule. but the lobbyist. >> surprise. >> it is a rule. >> okay, mark. >> that always happens when you proposed new regulatory systems like dodd-frank which is 200,000 pages of regulations and it becomes 10,000. >> the issue is not rule it is shortage of enforcement and ben bernanke said of dodd-frank. we can't figure it out. it is way too complicated the impact. the president's own job council said rules are a problem. and looking at the red tape that small businesses have to contend with. look at 1099 rule to report good and services for small businesses of $600 and up. the city of milwaukee. you have to get a license to go out of business in milwaukee. day care in massachusetts your children have to brush their teeth after lunch. it is red tape that is strangling business and hurting job growth. >> i go back to the small businesses and they know best what is hurting their ability to grow and hire. >> i will not argue the fact that regulations have a larger a

that's the bill known as dodd-frank. the committee chaired by barney frank for the entire time that dodd frank was under discussion. i opposed that. i knew how bad it was going to be because what it's done is it's attacked credit for businesses. it dried that up, but it's also made it almost impo impossible r people to get a housing loan. part of that problem, like you said, is when people's houses go underwater, in other words, they owe more than what it's worth. then the banks don't want to refinance. that's dodd frank at work. we have president obama to thank for this very bad law. we need to let the free market work and if the free market can work, this thing will right its own ship. remember, we're two years into a recovery, and we're continuing to rack up 1.3 billion in debt every year. trust me. this will turn around very, very quickly. it will make people's head swim how quickly we can turn this around if we send a signal that we're going to bring some sanity and normal see back into the economy. >> we don't have

a no single step would start the economy more rapidly than repealing the dodd frank bill so my goal would before i'm sworn in to work with the new congress to get things done so i could start signing on the first day. >> mike: a lot of people would agree the dodd frank bill has been absurd and it's punished good banks because of a handful of really big banks that misbehaved and that's got to be a good thing and i've got to run on. this is another issue you've talked about is bringing the courts back under the constitution. i want you to talk to me about what you mean by that. >> well, again, the paper we just published which is at newt.org and i outlined yesterday at the voters value summit, or the value voters summit, rather, the house and president have a right to correct the supreme court when they're wrong. it's not supreme over the president and congress and i think a number of steps we can do. take. for example, there's a judge in san antonio who issued a ruling on june 1st that students not only couldn't pray at their graduation, they couldn't say the word prayer, they couldn't say

if you look at the dodd-frank bill, it's going to make banking more expensive but cost the ability formall businesses to get loans. those organizations are speaking out. it's not republican or democrat, it's about policies that inhibit job growth and employment. >> we have been through several special elections already. new york 26 was not a good moment, but he seemed to turn around and when new york 9 and nevada no. 2. what was your strategy behind turning that around? looking ahead to one more special now, what is your take on the oregon special collection? >> we view the nevada race as a jump ball. either team could win. i think john mccain won by some 100 votes against barack obama. it was a chance to educate the voter. republicans have been thrust into position of medicare because of was the democrats to the obama health-care bill that took out $500 billion. when you take $500 billion out of a program, it puts the financial footing of that program in jeopardy. republicans have a chance to say what do we think medicare should look like to the benefit of seniors for its long-term st

the dodd-frank bill should be repealed this week. we ought to have decisive action. and you begin to figure out how the big banks get all these billions of dollars, somehow the federal reserve and the treasury collude on behalf of people who are already rich and nobody else gets a break. people need to understand, there's something profoundly wrong with how washington intersects with new york and it means everybody else -- i'm here on hilton head talking to realtors who are feeling the effect of dodd-frank, feeling the effect of the housing decline, feeling the effect of all the money going to french national banks, to libyan national banks, somehow not enough money for normal everyday americans. you're going to see more protests. it's a tribute to the absolute failure of obama's economic policy. it's somebody who was elected by the left, now has the left rebelling and demonstrating and arguing against his policies. >> so do i get a little sense of you identifying with these protesters, these occupy wall street demonstrators who are so angry at the system right now,

south carolina on wednesday who are looking at a disaster in housing that they know that it's the dodd-frank bill. it's the obama administration. it's bernanke and geithner. they're focusing their anger on the people who are causing them pain. they're not angry about other people being successful. they're angry about an obama administration stopping them from having a chance to be successful. >> schieffer: did you really mean that literally. you think they're just jealous? do you think that's the driving force? couldn't it also be that these people don't have a job? they don't know where to turn. they don't see any answers to the problems they have? and you think it comes down to jealousy? >> bob, yes, i do. >> schieffer: really? >> because it's class war warfare. some of them are there because they don't have a job, yes. but the fact of the matter is why aren't there jobs? go and picket the white house. demonstrate in front of the white house. the thing that this administration does not get is that the business sector is the engine of economic growth. that's key. they don't get that. so this pre

i will ask the new incoming congress to begin the third or fourth of yen to repeal the dodd frank bill and so that literally the day i am sworn in i will be able to sign a series of dramatic repeals to start job creation. dodd frank does to financial services what obama care does to help. if you rupeel it you help maul business're banks and homeowners and bring back up the price of homeowners so people have investments back. no single step would start the economy than repeal the dodd frank. i would orchestra and work with the new congress to get things done so i could sign them on the first day. >> i think most people think that the dod frank bill punished the good banks because of a handful of big banks that misbehaved and that is a good thing. i have to run on this, this is an issue that you talked about. bringing the courts back under the constitution. i want you to talk to me about what you mean by that. >> there is a paper we published. newt.organd i out lined the value voters summit. the congress and the president have every right to correct the supreme court when it is wrong. th

. >> and dodd/frank bill, did you think that was good enough? >> i don't think it was good enough. office, and the resolving door happens across wall street. >> i think the dodd/frank bill was not good enough but i don't think it was a bad bill. i they it was better than nothing. buddy roamer -- >> if you operate for cancer, if you operate for cancer and you fix two broken bones and get the arms right in the fingers but leave the cancer, it's not a good bill, guys. too big to fail is still the law. capital ratios do not have to go up with megabanks. it was bs. you know after it passed, you know where our president went? he went to wall street for a fund-raiser, hosted by goldman sachs at $35,000 a ticket. you all make this a great intellectual conversation. just follow the money. >> now presidential candidate, buddy roamer, thank you for your time. >> thank you, chris. i like you, man. >>> we will return right after this. (announcer) everything you need to stretch out on long trips. residence inn. the two trains and a bus rider. the "i'll sleep when it's done" academic. for 80 year

dodd and barney frank. i think the house republicans ought to repeal the dodd-frank bill next week.nk its terrible bill. i think bachmann has it right. it's a job killing homeowner killing, small bank killing, small business killing bill. they ought to repeal it and build pressure on the senate to repeal it. the fact is the congress and federal reserve and the u.s. treasury, i suggested tonight bernanke ought to be fired. geithner ought to be fired. people are mad about the economy the right place to focus is washington, washington is a destroyer of jobs in this country. worse under obama but the general underlying bureaucracy, the general regulatory pattern has been building for a long time and killing jobs in america. >> greta: and any of your other candidates say tonight that surprised you? >> there was a lot of interesting conversation. i think that whether it was rick santorum was a very good proposal on manufacturing. her man cain was endlessly funny. i didn't realize but i forgotten he had served in the federal reserve bank of cans wand as on the board in -- in kansas city of

dodd/frank? i will get rid of it if i'm president of the united states. >> we ought to come back and repeal the dodd/frank bill that's killing the health care industry. >> dodd/frank is strangling the small community banks across america. it needs to be repealed. >> we cannot go forward with dodd/frank. >> well, welcome back to "hardball." that was the latest web ad from the democratic national committee and it plays almost directly on the anger that we've seen over the past couple of weeks, of the people occupying wall street, those protesters out there. well, today "u.s. news & world report" reports says this news ad is the beginning of a concerted effort between the obama campaign and state parties to link presidential candidates to wall street, make them the bad guys. my question is, can president obama get ahead of this movement and lead it? does he want to? let's start with that "want to." dana milbank is a columnist at "the washington post." dee dee myers is a model, no, she's been on a lot of posters around this town. to your credit, madam. to you, first of all. the question has to be asked. does the p

then you've got the democratic dodd-frank bill that creates regulations and republicans say that is the problem. >> he makes the argument he wants to do things traditionally have been passed with bipartisan majorities like infrastructure, payroll tax cuts and he he says he is being blocked by republicans in congress. he doesn't talk about things like regulation which arguably are just as serious problems. he is running against the republicans in congress reminiscent of harry truman, the only problem is democrats control the senate. republicans don't control the whole thing. >> greta: in the dynamics running on infrastructure and paying payroll taxes, that is what he got in february of 2009. it would behoove him if it were successful. i understand it's a difficult problem. but he is really sort of running against himself. he better come up something different than half a stimulus now? >> two step, i stabilize the economy with the first stimulus, the republicans have blocked me from doing what i really wanted to do. and f.d.r., he is running against the big banks, republican corporate int

goldman sachs was generous to him in 2008 as were the others and the dodd-frank bill which presidentma endorsed and signed, that, really, made or gave the big banks a too big to fail status and has enabled them to compete on unfair terms with smaller banks because they can obtain more money and the lending community has read, has read dodd-frank and knows the government will not let the banks fail. >>neil: be careful what you wish for in the case of the protesters with a large sell off on wall street because of the banking rescue plan in european could be disintegritying, so, say the european banks revisit tough times and that coming over here and for all we know we could see another financial meltdown and we have the protesters in the middle of it and we could go from bad to worse quickly. >>guest: you could and you have had suggestions from senator durbin and senator sanders who is voting with the democrats although sheehan -- he is an independent in the senate. they are encouraging a bank run. >>neil: i am glad you messaged that, and when durbin said that, for a united states sena

but on every american, because we can't forget obama care itself is a huge tax increase and the dodd-frank billich does to financial services what obama care does to health care, also comes with increases in fees which are exactly the same as taxes as far as people's pocketbooks are concerned. so this is a very bad idea. >> well congresswoman, here is the problem i think some people have. the unemployment rate is 9.1%. there is the feeling that the government needs to do something to break this logjam and the idea of let's repeal regulations and environmental regulations or this or that because it is so costly to business doesn't seem to be catching fire. and yet when you ask americans about a surtax to help bring down the deficit, more than 70% say good idea so you seem -- and other republicans seem out of step. >> well, it isn't out of step to actually turn the economy around. what's out of step are all of the agendas that president obama has put into place. if we could wind the clock back to the time of the $700 billion bailout, i opposed that bailout and had government not intervened with t

a lot concern on wall street about the dodd frank bill and how that is going to look.reet sphirms and also for some of the bank as well. they will able to trade for their own accounts. those are some of the more lucrative parts of their businesses. >> thank you. we'll see you again soon. >>> back to this morning's big story. an assassination plot that could have claimed far more lives than the intended target. the plan to kill the saudi ambassador to the u.s. in a bombing at a d.c. restaurant. the suspects believed to have ties to the iranian government. we are back in a moment. i will awaken you with a song. i will present your world, at a glance. i will remain untangled and uncomplicated. and let nothing or no one go unnoticed. all from one. all for you. i am the new rhyme by htc. only from verizon. woman: working in public relations is not for the faint of heart. i love what i do, i enjoy the work, but it's a very hectic pace. ♪ don't want to miss a thing strayer university met my needs in terms of my family, my work/life balance. the fact that leading companies are

regulation, when we get into trouble they give us more regulation, whether sarbanes oxley or the dodd-frank bill. on and on. always more regulation. so, i'm offering a switch on that. i actually believe if we have the right president and i would be determined that we ought to shrink the federal register. wouldn't that be astounding? >>neil: do you worry, your goals make sense, and you do it in less time but the trouble you get from others even in your party, under your plan, the food and drug administration would see the budget hacked close to half, 40 percent, maybe less, but, bottom line they are saying, well, that is a president ron paul poisoning america. >>guest: well, i think the f.d.a. has done a lot of mischief, sometimes spending a lot of time preventing good drugs from coming to the market and give assurance that a drug because the drug industry and they harm and they have to remove it. it is a politicizeed group and so often there is an exchange define people in the f.d.a. and in the drug industry so it doesn't mean that this information worst be available to us, but the private indus

for instance the talk of the foreclosure crisis led poll leader herman cain to denounce the dodd/frank billd to get government out of the way. it starts with making sure that we can boost this economy and then reform dodd/frank and reform a lot of these other regulations that have gotten in the way, and let the market do it just like mitt has talked about. >> the market fixes everything, doesn't i? the same question about foreclosures led mitt romney to blast president obama about not understanding the private sector. >> we have had a president responsible for the economy for the last three years, and he has failed us. he has failed us in part, because he has no idea how the private sector works or how to create jobs. on every single issue he has made it harder for the economy to reboot, and as a le suresulte 25 million of americans out of work or stop looking for work, and can't get full-time employment. you have home values going down and median income that has dropped by 10%. and americans are hurting across this country, and the president is out there campaigning? why isn't he governing

new health care mandates, the financial, the lenders, the new dodd-frank bill, calling all over everybodyl banks, all over my state, making it more and more difficult for them to end. this is to government prolonged recession. >> let me pick up where we left off right after a quick break. we'llen back with you. we're america's natural gas and here's what we did today: supported nearly 3 million steady jobs across our country... ... scientists, technicians, engineers, machinists... ... adding nearly 400 billion dollars to our economy... we're at work providing power to almost a quarter of our homes and businesses... ... and giving us cleaner rides to work and school... and tomorrow, we could do even more. cleaner, domestic, abundant and creating jobs now. we're america's natural gas. the smarter power, today. learn more at anga.us. it's real milk full of calcium and vitamin d. and tastes simply delicious. for those of us with lactose intolerance... lactaid® milk. the original 100% lactose-free milk. >>> senator, i want to move us on to some politics here. i had a discussion with senator jo

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in fact, the dodd/frank bill, 2,350 pages or something like that, with hundreds of rule-making processes right now, left aside freddie and fannie. makes -- it's kind of like an "alice in wonderland" logical tour for the americans to scratch their heads in wonderment about this. but it's this disconnect, i think, in washington that i would say is something that people need to focus on. >> i certainly think that, at the moment, if you look at it, there's no real structure in place to prevent a lot of the similar problems happening again. that's what concerns people. is that america's still teetering in recession, may well go into a double-dip. most people predicting the worst at the moment. europe is collapsing. there are serious global issues here. do you feel confident that enough is being done to prevent that? >> you know, i think our banks are stronger today than they were in september of 2008, and they're certainly stronger in terms of their capital ratios compared to the european banks. we didn't -- the regulators did force the banks to raise capital faster than other parts of the wo

amounts on campaign finance, contributions to candidates, in order to dilute the already week dodd/frank bill, so if you want examples of money and the influence of money in policy, look at what's going on in terms of wall street, look at what's going on in terms of trade and the examples are very, very clear. so i think people have just got to keep up the pressure and tell members of congress that they are there to represent ordinary people and not just big-money interests. >> an interesting thought if we had a few hundred thousand people publishinging "expose the auction journalism" every day at the occupation, you would have to think that it can't hurt. >> a situation now in terms of campaign finance that's been made much, much worse by the absurd citizens united decision which is going to allow billionaires and large corporations to pour unimaginable sums of money into campaigns with no disclosure whatsoever. so you do have a democracy now which is under severe attack by big money interests, and that has got to change. >> at least we've got the right slogan for 2012, senator. auction 2012

it rid of dodd-frank, which remember is the jobs and mortgage destruction bill. and also change the tax code. i was the only tax lawyer in congress different times when i have been there. i am the only tax lawyer running for president. i want to lead that fight. that is the job killing center of the universe -- the tax code. i want to change that and make pro-growth policies in america. that is what we need it -- grow the economy and the jobs follow automatically. because the job does not create jobs. the private sector does carrot >> it will go behind you again. she is wearing a lovely color red. >> a beautiful republican red. wantwant to tell you ii a lot of money. i call that in december that she would win the iowa staraw poll. i endorse this lady. she is phenomenal. i think she is the answer. i beg you as a victim of an illegal immigrant that we came all the way from texas that you take our governor down. he is not securing our borders. those illegals are walking free and not being prosecuted. i have been a widow since 1996. you understand the legal immigrati

. >> bill: dodd frank? >> yes. >> bill: why is he so powerful?he's not the head of the committee at all because the republicans control the house. >> he has a lot of say over fannie and freddie, which are still major institutions. still to this day. >> bill: even though barney blew them up or helped or didn't provide oversight, he still has the power. he didn't lose any power. >> right. >> bill: now he's asking for money from the wall street guys? >> doesn't power attract money? >> bill: yeah. i'm more interested in why the wall street people aren't marching on barney franks' house. >> isn't there not an implied threat here? is it not possible that barney insinuates -- look, you know what i can do to you. you've seen what i've done to you. wait until you see what i do to you if you don't pony up some money. is that not an implied threat? >> bill: i wouldn't go that far. what i don't understand is why the wall street people aren't marching on barney's house. >> because the wall street people are far left and so, too, is barney franks. >> bill: but

>> are you talking about repealing obama care. >> dodd frank. >> dodd frank and that's the bill i call the jobs and housing destruction act. that's what is happening right now. the problem with dodd the frank is that it drives costs up for the consumer, costs up to get loans for purchasing a house, loans from a bank. it drives up the cost of loans for business person, for their business. we just saw recently that bank of america was increasing their debit card fee by $5 every month. that's infuriating americans. we'll see the same with atm fees because when the federal government intervenes and has the banking, the insurance and the bank holding companies now become behold on the the federal reserve and the sec, rather than being able to compete against each other, that means the costs will go up for the consumer, not go down. i want life to be better for the average american. and it would be better if we would repeal dodd frank. >> we have news on bank of america later in the program on that atm fee. i want to ask you about something, congresswoman. you have been consistent on social