. >> we have voted numerous times to weaken financial regulations, the dodd-frank bill, the federal consumer protection bureau has been the subject of many pieces of legislation this past year. i'm not able to get one single hearing on this issue. >> if you've got lobbying powers who lobby 24 hours a day 7 days a week 365 days a year on behalf of banks, on behalf of issuers, and no one protecting investors or the consumer, you got a problem. >> the lack of change will allow them to do it all over again when people's memories fade and the dust settles. >> for more "faultlines" check out on demand or visit aljazeera.com/faultlines. >> fault lines brings you an eye opening look at what life is really like under the taliban. >> i'm actually quite nervous >> from girls attending school, to enforcing sharia law. >> they rely on the local population, and so they need to win the hearts and minds of locals to be able to fight. >> fault lines, al jazeera america's hard hitting... >> today they will be arrested... >> ground breaking... they're firing canisters of gas at us... emmy award winning investi

when there's an extra 10,000 pages added to the dodd frank bill, that's 10s of millions of dollars that can be makeen that can be injected into it, can be very lucrative for the people who are paying them. >> is there anything about this particular official washington that makes it different from official washington of yore? where is the pivot point when it became this washington, d.c. in this town. >> i would say a couple of factors, one is just an infusion of money into the system. >> you date that to when? >> i would say, you know, maybe the clinton era was a real -- brought to bare a very, very new union between wall street and washington in a way that didn't exist before. there's always been a lot of wall street types and administrations, particularly republican administrations, brought about a newerra of cross- -- new era of cross-poll nation of money and the government. 9/11 was big and the wars of the bush area which grew government. >> it was a machine. >> to go back to the clinton era, you made a point about bob ruben, and that's where part of the money came in. conflict becam

not many experts believe that regulations like the dodd-frank bill will be repealed but dan clifton sayses could happen on the fringes, maybe legislative changes that could be made. and his team likes the regional banks. names like first niagara. and, of course, the ones that have exposures to markets where the oil and gas shale boom are still going on given the republican focus on energy policy. texas capital bank shares as a possible beneficiary. this company is based in dallas and has banking branches throughout the state of texas. as you look at where the benefits could be we talk about this idea that there are certain sectors and maybe regional banks are the ones that benefit. >> thank you. great job. >> simon, down to you. >> we will get an answer to a lot of the questions when the president speaks in one hour. what will he say and how much is he willing to give to both houses controlled. being joined by ben willis. what do you think he will say? do you think 2.0? >> i think too early for him to say it. he is thinking about the next two years of his presidency. how does he want to

this is a proposal that i not only made and included senate version of the dodd-frank bill four yearsnd about creating a structure that will inspire confidence across the not only the american public but also the financial firms that the person there has significant responsiblies for regulation and also has clearly responsibility to the nation and to good economic order. >> senator, do you think that if bill dudley had been nominated by the president and the process he wouldn't have made it through, that somebody else would have been at the helm of the new york fed and handled matters quite differently? >> i don't think, again, this is about mr. dudley. i proposed this four years ago and he was on the scene. this is about going forward. this is about dispelling in one respect the perception that many people have. in fact, it's growing with some of the revelations that there's no difference between the regulator and the regulated. that the regulated has been captured. i think we have to dispel that and i think one way to do it in a procedural and principle way is to have the process as

barney frank with you, congressman from massachusetts and architect of the dodd-frank wall street reform bill rattner, adviser to the u.s. treasury, led the effort to save the auto industry. let me go to congressman frank on this issue. is this all pr, advertising, big bucks for tv that made ronald reagan somehow hero of an economy recession that he created? he was mr. cool. this president was hiding in the bushes this whole campaign because people didn't want him out there because he should have been embarrassed in some way. explain the different psychologies of the two parties on the economy. >> well, it goes back, i think, to the terrible economic crisis and the democrats had the worse one. a crisis occurred, a terrible one in 2008, that was really brought about by republican policies more than anything else, although there was some shared blame, the deregulation. and the democrats had the responsibility of cleaning it up. you mentioned the auto effort, which was an enormous success. i believe if you poll the american people today, they would denounce the democrats for bailouts. everything

somebody wants to sell them, quote, a comprehensive piece of legislation, whether it's dodd/frank or the immigration billhe president wants, comprehensive is latin for there's lots of bad stuff in here. he just proved that he's willing to lie, he's willing to lie because he has the arrogance of thinking that he knows what is best for this country and the citizens and the voters could not. so keep that in mind the next time anybody tries to sell you on a big piece of legislation by calling it comprehensive. >> do you think the white house needs to speak to this now? we went through the number of contacts he had personally chairing, the president did, a meeting with him, touting him as an objective analyst, credible, unbiased, compelling, his senate testimony. he was presented to us as an honest broker by the administration. >> i would loç@+

if we can do that, rollback this mountain of regulations that come from these bills like a obamacare and dodd frank, and release our energy potential. largest producer of oil. largest producer of metro gas in the world. alaska should be leading that. federale need a government that is a partner in seizing that opportunity. right now, not only alaska, they have been an obstacle. >> we have come out of the great recession. the income gap continues to grow. if we grow the economy, that won't solve the wealth gap, will it? >> i think we talk about job growth. we see these lower unemployment rates. is that iss masking not because of significant job growth. that is because americans are leaving the workforce. the unemployment rate comes down when people are looking for jobs. we are at the highest level of americans who are out of the workforce as the late 1970's. what we need to do is to create an economy with growth rates to create jobs. to me, that is the number one issue. job growth over income inequality. a proven means of personal economic advancement is higher education. the cost of going to colleg

if we can do that, rollback this mountain of regulations that come from these bills like a obamacare and dodd frank, and release our energy potential. largest producer of oil. largest producer of metro gas in the world. alaska should be leading that. again, we need a federal government that is a partner in seizing that opportunity. right now, not only alaska, they have been an obstacle. >> we have come out of the great recession. the income gap continues to grow. if we grow the economy, that won't solve the wealth gap, will it? >> i think we talk about job growth. we see these lower unemployment rates. what that is masking is that is not because of significant job growth. that is because americans are leaving the workforce. the unemployment rate comes down when people are looking for jobs. we are at the highest level of americans who are out of the workforce as the late 1970's. what we need to do is to create an economy with growth rates to create jobs. to me, that is the number one issue. job growth over income inequality. >> a proven means of personal economic advancement is higher education. the

kerosene on the fire too in the sense they're going to be sending the president bills to repeal obamacare, to repeal dodd/franka lot of things they know are doa as well. so it would be worthwhile i think for both sides to sit down and say what can we do cooperatively, rather than taking a course of confrontation again. >> yeah. all right. we'll be watching for all of the american people, i think i speak for all of us, saying we hope all of you guys in washington can work together and get these things done. that is what everyone is counting on. congressman, thanks for joining us this evening. >> absolutely. >>> two americans headed home. one of them kenneth bae, free from detention in north korea. a family friend will join us, straight ahead. big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern. into

action he takes on immigration, and the dodd-frank -- all of those big achievements, important legislative achievements. no other president ever got a health care bill floor of the house or senate. he got it into law where up to ten million people are being affected. all would be at risk if a democrat loses the white house. if a democrat cannot hold the white house in 2016. i think that the biggest single question in his legacy is, is he putting the party in a better position than it was than he left them in 2014 to compete. and i do think that that will be a constraint on him in going too far towardwt making deals with republicans that would alienate his coalition. i think keystone is an exception because from all indications the president has been frustrated from day one at the symbolic value attached to this by each side. he simply does not believe it as nearly as important as what he is doing at the environmental protection agency with the regulations on carbon emissions, power plants, potentially this significant deal with china announced this week. it would not surprise me if he gave ground on that one sooner or later. i think on health care,

we have wasted time in this chamber debating republican messaging bills to repeal the cari champion, undermine dodd-frank -- repeal the affordable care act, undermine dodd-frank and environmental regulations while failing to create jobs, boost the economy and help vulnerable americans rise out of poverty. you know, instead of kind of doing the people's business, we're back into republican messaging bills again. the three bills that we're talking about here today, h.r. 4795, h.r. 4012 and h.r. 1422 will allow industry to have a greater influence over the policies developed at the e.p.a., weaken our air quality and prevent the e.p.a. from using critical, high quality and peer-reviewed data in their policy data. why in the world would we want to do this? well, because the republicans' corporate constituency demand it. this may be a nice way to thank big republican donors for their support in the last election, but quite frankly it's lousy policy. .r. 4795, the cleverly named promoting new manufacturing act, does nothing to boost manufacturing, does nothing to help the permitting process or create jobs. it r

if we can do that, rollback this mountain of regulations that come from these bills like a obamacare and dodd frank, and release our energy potential. you know, the u.s. is on the verge of being the world's energy superpower again. largest producer of oil. largest producer of metro gas in the world. largest producer of renewables in the world. alaska should be leading that. again, we need a federal government that is a partner in seizing that opportunity. on energy. and right now, not only alaska, but most of the country, they have been an obstacle. >> we have come out of the great recession. but the income gap continues to grow. so if we grow the economy, that won't solve the wealth gap, will it? >> well, i think growing the economy is the critical issue issue.lso, -- also i think we talk about job , growth. we see these lower unemployment rates. what that is masking is that is not because of significant job growth. that is because americans are actually leaving the workforce. the unemployment rate comes down when people are looking for -- people quit looking for jobs. we are at the highest level

bill. if is senate, too, is ináúb republican hands, should count on now its fate of sort of symbolic votes to repeal obamacare and vote houses. dodd franknd deregulate the investment banking. normally, 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 ma

bill dudley gave us much as a god here. was sonusual that there much contention, but you have a lot of regulatory powers after dodd-frank.icans are looking fo awayat some of the powers from the fed. and then there's the institutional pride. there are a lot of people at the fed who believe they are doing a good job and want credit for it. >> thank you. still ahead, we will look at what the travel association calls u.s. martyrs. - work martyrs. ♪ >> it is time for the latin america report. they extended their weekly rally to the highest point since march. %,ey strengthened 1.3 the biggest increase after russia's ruble. at ao's economy grew fastest pace in almost two years. the rebound in the u.s. economy boosted demand for the nation's exports. 8.5 exports advanced percent in the first 10 months bolstered by new factories built by nissan, honda, and mazda. coming up, the case for taking vacations. we will show you a you can save up for that dream trip to paris. ♪ >> here is an interesting i statistic man who do not take vacation to 30% more likely to have a heart attack, and for women it is worse, 50%. u.s. workers do not

thing if you're a first-term democrat with bill clinton or even a first-term democrat in barack obama. you voted for affordable care, for stimulus, for dodd-franku've riley taken tough stands. you're in 2012 and lost because to have the climate this administration created because to have the veterans administration, because of ebola, because of the secret service, because of a sense of ineptitude of governing, not because of tough heroic stands of votes you cast. and i think there is a certain resentment and i don't think the president got past this. >> on president obama, the immigration thing is important. i support the idea of giving these ople this new status. if by executive action, redefining the status of millions of people without a law, without going through the normal process, that strikes me as an extreme abuse of executive power whether you support on policy or not. that action is so confrontational because it's not only policy a lot of republicans object to but members of congress object to. >> woodruff: so glad you're here, david brooks, mark shields. thank you. >> woodruff: again, the major developments of the day. the u.s. econo

hope so, honestly, and i think there's many house bills that passed over the past year that ened up in the cul-de-sac in the senate. a lot of dodd frankf you will, have to do with distinctions between end users and the use of the financial instruments, but it said to smaller businesses, why saddle the smaller banks and the smaller financial interests with these huge burdens dodd frank places on them. the interesting piece is what about cfpb? right? >> with consumer financial protection board, inside the fed, bitterly opposed by the republicans. >> republicans didn't want to fund it. >> interesting question inside the fed. there's no oversight right now as far as congress is concerned, and what will the senate do? what does the house do to pull that in under some accountability? taxpayers want to see that as well. >> elements of dodd frank in ways -- >> what do you mean? what needs rewritten? it's a tough thing to rewrite it legislatively. >> for example, the whole question about metlife and whether insurance companies -- >> that's a bill the senate already approved, the house, i bet in lame duck, the issue will be addressed on the que

bill gets passed through on a partisan basis, that does more than flesh wounds to obamacare, that basically defunds the consumer financial protection bureau and maybe does other damage to the sec and dodd frank and that blocks the epa from issuing regulations on climate change, barack obama will veto it. now, they may pass something else and send it to him. but if he keeps vetoing it, what do you get? a shutdown. so we're not past that particular hump, even if the leaders know intellectually that it would be a catastrophic thing to do. there's another factor here that is important on the money front as well. we will see, i think, a continuing resolution that will probably take the current year's funding through to the end of the year, in december. that will be controversial. but with the numbers that are there now, they'll get it through, and the argument will be this is not the time to pick a fight. but remember that starting october 1, that two-year budget deal that deferred sequesters ends. and the sequesters come back. you're going to have congressional republicans determined to negate it on defense. but some are going to be saying, well, we can't add the budget deficits now. so let's ju

bill clinton. inga two ways. can increase republicans. doesn't have to get rid of obamacare. he can embrace them somewhat. he can get rid of some really nasty aspect of dodd-frankybe some tax cut. if 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 th

bill gets passed through, that does more than flesh wounds to obamacare. that basically defunds the consumer financial protection bureau and maybe does other damage to the sec and dodd-frank. that blocks the epa from issuing regulations on climate change. obama will veto it. now, they may pass something else and send it to him. but if he keeps vetoing it, what do you get? a shutdown. we're not past that particular hump, even if the leaders know intellectually that it would be a catastrophic thing to do. there's another factor here that is important on the money front as well. we will see, i think, a continuing resolution that will probably take the current year's funding through to the end of the year in december. that will be controversial. but they will get it through. the argue will be, this is not the time to pick a fight. remember that starting october 1 that two-year budget deal that deferred sequesters ends. the see questers come back. you will have congressional republicans determined to negate it on defense. but some are going to be saying, well, we can't add to budget deficits now. let's take an additional amount of discretionary domestic spending. that's not go

bill gets passed through on a partisan basis, that does more than flesh wounds to obamacare, that basically defunds the consumer financial protection bureau and maybe does other damage to the sec and dodd frank and that blocks the epa from issuing regulations on climate change, barack obama will veto it. now, they may pass something else and send it to him. but if he keeps vetoing it, what do you get? a shutdown. so we're not past that particular hump, even if the leaders know intellectually that it would be a catastrophic thing to do. there's another factor here that is important on the money front as well. we will see, i think, a continuing resolution that will probably take the current year's funding through to the end of the year, in december. that will be controversial. but with the numbers that are there now, they'll get it through, and the argument will be this is not the time to pick a fight. but remember that starting october 1, that two-year budget deal that deferred sequesters ends. and the sequesters come back. you're going to have congressional republicans determined to negate it on defense. but some are going to be saying, well, we can't add the budget deficits now. so let's ju

dodd-frank, really not much republican input at all on this. so what we will do, senator mcconnell said they he will allow them to have amendments. and we will paz bills the issues out of the gate that republicans want to work on, under the assumption they win the senate. what are republicans wanting tot right out of the gate? >> i think our number one issue, at least for me, is i would like to see a lot of american profit that's been earned around the world and oversea, let that american profit come home. there's $2 trillion oversea. and there's bipartisan agreement on this. in 2005, we lowered the tax and $300 billion came home. some people think nearly $1 trillion would come and stimulate business and bring jobs home with it. i think that's something we could do on a bipartisan basis. >> do you think president obama is going to go for repate yags? >> he voted for it in 2005. i talked to him about it about a month ago. he wasn't so enthusiastic, but he used to support it. there are many democrats, barbara boxer supports it. i'll work with barbara boxer. how many issues are there that rand paul and barbara boxer can work together on? i think we ought