if it were vote for repeal of dodd-frank. i'd vote for it but it's not a repeal of dodd-frank. as a matter of fact, this piece of legislation, the swap act, was actually voice voted out of agriculture committee. it has joint jurisdiction over this piece of legislation. voice voted. in the committee, financial services, 100% of republicans and 2/3 of the democrats voted for passage. so it isn't exactly as one would hear the other side say. we talk about open rules. i think one of the things that distinguish this congress versus the 111th congress is that this is one of the most open congresses in the 112th versus the 111th that had absolutely zero open rules. i remind my colleagues of that just because, as we talk about this, and move forward on both these issues, it's important to know we have an open rule coming up. we have almost 300 amendments that we are going to be considering in the rules committee in just a short period of time with the nda. and lastly, i hear my colleagues talk about how for 25 years they allowed sexual assault to go unabated. i can't hardly stomach the

dodd-frank has abolished them. to be sure what needs be done to reduce the risk of the future else ef-5 failure and ensure that if an lcf i does failed the process is smooth and well understood by the market and minimizes unnecessary losses for creditors. however to extend the procession of too big to fail remains, it is because markets continue to question whether regulars were congress can and will follow through on the laws prohibition on a less. i believe we're on the right track for addressing these but more can and should be done. first, regulars must ensure that lcfis has sufficient long-term debt at the holding company level. the success of the fdic orderly liquidation authority using the single point of entry strategy depends on the top of holding companies ability to absorb losses and fund recap position of the surviving operating entities. currently come with no regulation that addresses this need and we must address this gap. gap. to avoid gaming come to scene and secured a long-term debt must be issued

she says that bailouts are abolished under dodd-frank. but i hear something different from this side of the table that it's really not that clear. and when you look at the numbers, and those particularly interest in the numbers from the richmond fed the financial sector liabilities to their 27% of the financial sectors liability debate enjoyed an implicit, and implicit government guarantee. and that being the case, and i know you can't speak for ms. bair, but can you help those of us as part of your were listening to very intelligent people, help us figure out where is the difference between what ms. bair is saying and what i think the facts are, and that is that there are tremendous, there is tremendous implicit guarantees as our risk. >> in ms. bair's defense, the legal authority under which we provided assistance to the merger of bear stearns and jpmorgan chase and assisted aig was 13-3, and the ability to craft a firm specific 13-3 program has been eliminate. we can craft a program but it has to be of wide market availability. that so

dodd-frank, to undo the reforms of dodd-frank, why does this exemption show up in this bill? it has no place in this bill. another attempt to get around dodd-frank and not to comply with the law and you're messing up a good agreement. it does not make good sense. i oppose this bill in this form, the administration opposes this bill in this form, and if you want the kind of agreement that you say you want with mexico, if you're interested in sharing those resources, you're interested in what you claim can be done, creating jobs, you would not move forward with this bill. you would not try to force this exemption on this agreement. i yield back the balance of my ime. the speaker pro tempore: the chair recognizes the gentleman from the gentleman from washington. mr. hastings: mr. speaker, i'm pleased to yield five minutes to the gentleman from arizona, mr. salmon, who worked very hard on this agreement, five minutes. mr. salmon: thank you very much, mr. chairman. i appreciate this opportunity to address congress today. i'm really pleased that as the chairman of the subcommittee

--must talk about dodd-frank let's talk about dodd-frank. only 40% has been implemented. why is that? >> there are a number of reasons. .ndustry lobbying is part of it i have been long enough to remember a time when industry leaders used to work more collaborative knowledge reform. it may not be her fate, but we need them. we are not seeing the that constructive dialogue at this point. processa negotiated among the regulators. we have a lot of regulators. we probably could have fewer than we have now. the regulators themselves, there is some accountability. people are looking for exceptions and nuances to accommodate the business they are doing. i wish the industry would have a more constructive tone. we needed the certainty. we need to move on. we have a new challenges. with no market money funds are a problem. we know there are will's out there pending. let's get them done and move on. there is going to be another crisis. we should be looking ahead and not to the past. the banks pushing back to much? >> we want certainty. what markets do not like is uncertainty. you wou

before we get into dodd-frank, what does an sec commissioner do?take it for grant, there is a commission, chairwoman, mary jo white, you have a new boss and all you guys in between. what do you do? >> all four of us, in a nutshell, charlie, we vote on all matters that come up through the commission, rule mackings like folks saw on money market fund last week rule-makings or enforcement cases. >> sac capital or something like that. >> i can't talk about any specific cases. >> you knew i would bring that up. >> no comment. >> you got it. i think it's a good case to be made that markets are somewhat screwed up right now. we have outages at euronext exchange. we have all the dark pools where you can trade stocks off the exchange. one thing i worry about, is the sec paying enough attention to this? we see a lot of other stuff, money market rules, because basics of stock trading are markets. a lot of people like dick grasso on our air friday saying he doesn't think the price of apple is actually the price of apple because there are some of these other ma

built commute before it was known as dodd-frank. the story of how that actually happened, which is nestled in the book. and then senator dodd will comment followed by my distinguished colleague and another of my favorite people, thomas mann, a senior fellow at the brookings institution. associate editor and senior correspondent at the washington have posted as workers is a 1963. he started right after the day of his birth, i think. he served as a special correspondent in london. reporter on the city desk. a foreign correspondent in saigon and moscow. he is the author of seven books, including the news about the news, american journalism in peril. the triumph of lobbying in the course of american government and most recently active congress. not on this list is a book he wrote about vegas. yes. so anybody who cares. maybe bring it back into brent parity is a graduate of the a college. he received his message from the london school of economics. senator chris dodd is the chairman and chief executive officer of the motion picture assoc

the expense of dodd-frank. pays the same, whether you are $300 million company in terms of market value or $40 billion company, or $300 billion. i'm talking jpmorgan and morgan stanley. so, of course, we are putting more pressure on the small and midcap companies. why are we hurting such a huge job creator? >> that's a question all of us are asking, why so many opposed dodd-frank in its inception and it's an example of typical washington, will go and overreact to a situation where it should have had a much more sensible response. what we're trying to do, jeff and the financial services committee in the house, trying to take appropriate steps to bring back the regulatory action into a much more sensible vein so that we can unleash the job-creating powers of our small and medium-sized businesses, so we can compete. >> is it even realistic to think that we will see tax reform happen this year? >> i'm hopeful. chairman dave camp, the ways and means committee on the house, has done a great job, and his entire commit

into a debate about what the proper regulatory structure is for these agencies and obviously when dodd frank passed everybody thought there needed to be reform but what was the best way to do it so we want to do we wanted to find out how the structure of the agency affected the nominations process how long it took we broke into two different variables we looked at how long it takes for the president to make a nomination and send to the senate and hold takes the senate to decide on or resolve that in some way and we also want to make it an interactive tool that would allow people to check it daily so that every if you. go to bipartisan policy dot org slash nominations there's a tracker that any nomination it's up right now it will every day it will update on exactly how long it's been waiting either for the president to work or for the senate to act so we have four major conclusions they have to do with with the difference between single director heads of agencies versus members of the boards it has to do with the chairman of commissions versus regular commission members. obama president obam

now improving the dodd-frank act, regardless of its relative merits, it did at least make clear that congress intended that manufacturers, ranchers and again main street businesses, that this bill is intended to address, that they would not be subject to certain regulations regarding margin requirements for end users of derivatives. still, edespite congress' clear intent on the subject, such requirements have been proposed by washington regulators. and so, resulting legislation would contain provisions that would modify and provide greater clarity to the dodd-frank act regarding the intentions of congress in dealing with the end user exemption. we have heard from federal reserve chairman bernanke who stated before the senate banking committee earlier this year that because the dodd-frank act is, quote a very big, complicated piece of legislation, unquote, that regulators like the federal reserve needed, quote, clarity from congress on what, quote, to do about end users. so h.r. 634 provides that clarity by stating clearly that end users of derivatives shall be exempt from the onerous

. >> reporter: the former head of the fdic who helped to write dodd-frank was left to defend it saying the agency's ability to take over a big bank and stick shareholders and creditors with losses in this too big to fail, but she acknowledges that regulators still have to finish writing some of the import rules around this and have to make it clear to markets that it will work. cheryl: my next guest said that he is still betting on equities. values. chief research analyst. i want to get your take on what we saw today. weaker gdp number did not affect the markets. old news potentially, but the fed still is the unknown factor here. you are not worried about ben bernanke. >> and not worried about the stance they will take at this juncture. basically we are perfect. we want to be gdp. running 18, two, totally getting off of the 3 percent. and on think it will make the move. it will focus on what presumably unemployment is. it might just have been a suggestion by the fed that they really wanted to tamper in sort of the asset prices that may have gotten ahead of themselves. i don't see equit

dodd/frank.s, number one, it's going to work and number two, it's not too big to faith. i just want to remind our viewers and everybody here, including you, that dodd/frank bill has 848 pages, and 243 rules and still counting, and i believe, sorry, that that is stifling credit creation. why are you backing dodd/frank? >> larry, we are trying to make dodd/frank better. we don't think it's going to be repealed. we're saying there's a lot of problems and concerns with it and it should be improved. as far as too big to fail which is the label put on certain big banks by some. >> you know it's true. >> no entity should be too big to fail. every entity should be allowed to fail. the question is make sure though when they do fail that you have a mechanism. >> i've got a bank expert here. you think no entity is too big to fail, honest answer, meredith? >> i think that -- no, i think there are clear entities that are too big to fail at this point because we're not make the right structural change. >> boom

circuit has ruled pretty aggressively against some elements of dodd-frank. so there's, there's a little bit, you know, i think it's all well and good that we're thinking about what will happen after democrats lose these, lose power. but at the same time, there's -- >> i don't know that we're all happily thinking about. >> but at the same time, there's something very concretely at stake in these debates. >> jonathan, the president is on the offense. when he was given his remarks today in the rose garden. you sense a certain amount of indignation. which is always sort of in the air when he talks about the hold-ups. the kaitlyn halligan nomination, the fact that is languished for 700 days. it's not just that, but also his agenda. i outlined at the end of the open, we're talking dodd-frank, immigration reform, specifically as it pertains to the dream act. we're talking about the affordable care act. these are, if there is a legacy, if there is an obama legacy, it is contingent upon this court push, continuing on with the effort. >> the indignation that you talk

things that dodd-frank, the effect on the banks, they are under what's it going to be?t me? they are hiring lawyers, frustrating. >> trying to figure out how much capital to hole -- hold. capital rules are nailed down. they need certain capital. it's the other rules, what exactly is proprietary training, how do you do it? nobody knows. what we have is regulation by sort of interpretation. what the banks have to interpret what they think the regulators want, and what's intlessing about this, checial, is that you still have the fed and the fcc bickering. that's not how you do this. i spent time talking to mr. dodd at the white house correspondents dinner. he thinks it's fully implemented soon. last week, i believe, they said on the three-year anniversary, like next month, the proprietary trading ban will be figured out. i will tell you this, the ground floor says not even close, it won't be figured out by at least for another year, and a key aspect of this is not put into place. this is a fairly interesting story. when you have banks basically interpreting what should be

on dodd frank, it is a very complex law. you it moved to deal with some of it will stop some parts of it, but not yet. but this is a big project for the president and his white house in this term, in the second term, taking a lot of things they got done in the first two years and bringing them to their full fruition in his final four years. and how that comes out will color, at least in the short term, how his legacy is perceived. although i do believe come in the long run, time and history is on their side. -- on his side. >> you are on the hill going back to 1979. this relates to the question i want to ask. the change in the republican party and how that has had such a large effect on president obama's term. i agree with you on all the factors you cited about people going toiscernible] little league games together and all of that. i do think it is a terrible mistake for the country that people don't move here, not because i want to further jack up watching the real estate prices, but because it has created more of a break.

. >> reporter: another aspect, dodd-frank. what you guys think of this law?to be -- a lot of people say that is where we have tremendous government overreached. it's stifling innovation. we needed some response to the financial crisis, but that -- this is where to much. >> what i hear most is the point of view that we need certainty of the response. much of dodd-frank was an outline for a framework of new regulation that has not been written. here we are how many years after the initial of the ship of the legislation. what business leaders need is certainly. they can innovate. this is the most innovative country the world has ever known. but if you don't give me the road map i cannot get to where want to go. >> reporter: dodd-frank is that even implemented. i mean it is pretty scary. another part that is pretty scary is this notion of dark pools. the exchange's that exist of the exchanges like on the goldman trading desk. there is no transparency. of a given issue. donna duncan thinks that is an issue. we briefly mentioned. the sec is taking a dead issue. lik

he is going to cry. >> let's get to dodd-frank. we talked to sec commissioner gallagher, dan gallagher. he says this. this is going to get everybody in congress really blown away. he says it will take years to implement dodd-frank. he basically says they are less than halfway through writing the rules on dodd-frank. and the bottom line is, there is a good chance, as you know, paul volcker came out said the thing will be written i guess by july, right? three-year anniversary. he says no way. it is years and years away based on how far they have gotten an infighting the between the fed and sec what the rules should say. i say this to wall street. you think you will get a dodd-frank and volcker rule? you will not get the stroller rule for at least the next year. this is scary thing. you could write a rule and basically not implement it. maybe it looks like it will be implemented in its entirety not probably for couple years. lori: can banks take advantage of that through trading practices? >> i can tell you this from jpmorgan chase. t

>> this is part of the dodd-frank act. this is called the title ii of the dodd-frank act. and what it does is it creates an alternative to the bankruptcy for more corporations. so right now for more institutions that are called systemic. so right now, all along, since the integration, the fdic knows how to take over the failed small banks. the biggest was maybe washington mutual. maybe 50 billion or whatever. now the fdic is in charge of in pherae taking down bank of america if need be. we are asked to trust that in a crisis or not in a crisis the fdic which has the authority to do this and is probably the best to having this authority will actually results basically create some kind of a process by which the creditors would somehow be paid, is essential functions would be maintained, somehow and like they do for the small banks where they are paid and they sell off their pieces they would create a better mechanism than bankruptcy that is dragged on for four years and wasted almost everything that was there. and so, whoever is deemed a systemic and we aren't there yet but

regulator the commodity futures trading commission this is after spending a three year implementing dodd frank recently suffering a losing battle with fellow commissioners it's also out there the office of inspector general released a damning report in may on his performance or lack there of the m.f. global debacle a front runner for his replacement is yet another goldman sachs employee amanda and tara though she spends most of her young career as a senate staffer but according to the huffington huffington post tara has a little experience in the actual fight which will regulation sounds like a perfect match. and insider trading is still illegal but according to a wall street journal article trading firms have been giving economic data ahead of everyone else for happy feet for five thousand dollars a month was a one thousand and twenty five dollar connection fee waivers will give you the gravelly followed consumer sentiment reports two seconds of the public two seconds might not sound like a long time but is an eternity for high frequency trading strategies that can make millions of dollars by

bills that were passed in the law we have obama as affordable care act the health care bill and dodd frank the financial reform bill they have yet to be fully implemented you know what is the future of the regulatory environment pending the implementation of these two very large bill of one of the very active illness issues in f.i.b. the national federation of independent business and their number one cause for a lot of their members three hundred thousand small business or of course regulations taxations than health care cost so reflecting that small businesses want provide to. health care but we have to reform the reform of the so called reform to make sure that health care cost is at a level that they can employ it that they can employ or have it for their employees but at the same time deploy health care where it's also equal for self employed as well as smaller businesses that can develop pools with other folks across state lines so that a lot of detailed regulatory issue there dodd frank you're going to have financial institutions do not want to grow to a certain level because they'r

bills that were passed in the law we have obama as affordable care act the health care bill and dodd frank the financial reform bill they have yet to be fully implemented you know what is the future of the regulatory environment pending the implementation of these two very large one of the nation's very active on this issues if i be the national federation of independent business and their number one cause for a lot of their members three hundred thousand small business or of course regulations taxations than health care cost so reflecting that small businesses want to provide health care but we have to reform the reform of the so called reform to make sure that health care cost is at a level that they can employ it that they can employ or have it for their employees but at the same time deploy health care where it's also equal for self employed as well as smaller businesses that can develop pools with other folks across state lines so that a lot of detailed regulatory issue there dodd frank you're going to have financial institutions do not want to grow to a certain level because they're

dodd-frank, affordable care act, i could go on and on. we kick the can down the road as is often heard on sticky issues. politically sensitive issues that politicians don't want to deal with. because we know ultimately there will be regulators to fill in the gaps of our vague laws. well, the reins act would prevent that. it would incentivize members of congress to take on the hard issues in the beginning because they'd know that in the end those sloose going to come back and have to be resolved in this body. . when i go home and meet with people and they speak to me about specific regulations that are causing them pain, the best i can do and the colleagues can do is say listen, we'll try and repeal that particular regulation by preventing it from being implemented at the agency, by impacting the funding of that agency. these are very difficult things

they both believe that dodd-frank financial reform does not end too big to fail, but it would allow regulatorsdo bailouts of the biggest banks in a future financial crisis. take a listen. >> i think that discretion traps policymakers in a crisis. expectations build up that they may use that discretion to rescue creditors and let them out with -- let the escape losses. and given that expectation, policymakers feel compelled to fulfil the expectations in order to avoid disruption. >> the former head of the fdic, she liber, who helped write dodd-frank was left to defend the legislation at this hearing. she said that the agency's ability to take over a big bank and stick shareholders and creditors with losses in is too big to fail. liz: listened. i am open to all and every opinion, but we do not want ted use taxpayer money any more to bailout any private financial cetaceans. i think that's pretty clear, right? >> i think that is what this hearing was about. liz: closing bell ringing in about 39 minutes. we take you inside in a fox business exclusive. no business network, no sports network, no netw

they both believe that dodd-frank financial form does not and too big to fail. lacquers is, in fact, the law may box regulators in. >> i think that depression traps policymakers in a crisis. expectations build up that they may use that discretion to rescue quitters and let them out, let them escape losses. policymakers feel compelled to fulfill the expectation in order to avoid the disruption. peter: the former head was left to defend it. she said the agency's ability to take over a big bank and too big to fail. lori: thank you. >> two days a week bp reading. good news for bond investors. snapping the longest run of the client in more than a year. lori: student loan rates set to double. >> nassau is looking for your help tracking asteroids. we have details on how you can get in on this one. it is not just a videogame. coming up. ♪ i turned 65 last week. the math of retirement is different today. money has to last longer. i don't want to pour over pie charts all day. i want to travel, and i want the income to do it. ishares incomes etfs. low cost and diversified.

on dodd frank, it is a very complex law. you it moved to deal with some of it will stop some parts of it, but not yet. but this is a big project for the president and his white house in this term, in the second term, taking a lot of things they got done in the first two years and bringing them to their full fruition in his final four years. and how that comes out will color, at least in the short term, how his legacy is perceived. although i do believe come in the long run, time and history s on their side. >> you are on the hill going back to 1979. this relates to the question i want to ask. the change in the republican party and how that has had such a large effect on president obama's term. i agree with you on all the factors you cited about people not going to little league games together. i do think it is a terrible mistake for the country that people don't move here, not because i want to further jack up watching the real estate prices, but because it has created more of a break. but fundamentally, it is an ideological

i want to start when we dig into dodd-frank which was a great example.ng this on the white house side of things and hearing from treasury staffers saying we're writing the basic legislation to begin this process because we don't think members of congress know what they're doing. >> it's true. they did. that's how we got the bill that we got. it's important to keep in mind this is what's going on since fdr. the president proposes and congress disposes. founders had the idea that congress would be the most powerful body and gave them the most power. it's explicit in article 1. we lived with this for a long time now. the presidents are the ones that articulate policy goes and congress responds. >> is it that we don't have expertise or a level of sophistication on certain issues prevalent among members themselves? >> that's a huge part of it. i was shocked to discover how few experts there were. take any reveals in his memoir, 95% of the work, 95% of the nitty-gritty work of negotiating legislation is now done by the staff. that's true. the chief council to

when i look at the regulatory environment and i see rules, dodd-frank, regulators all over the world. talking about compensation in switzerland and capital, and when i see the tax, and maybe not tax, but fees across the board, the same fee you will pay that j.p. morgan will pay. that bank of america will pay. and that doesn't make sense to me because you have different size businesses. so how -- why is it fair that all of the banks are going to be under the same rule making even though they are all different sizes? aren't we killing small business? are we hurting small and mid caps? >> it played out and it takes the form of -- by the way, same thing that is very hard to conform to, and so then the jobs act which relieved people from other provisions that apply to bigger firms that go to market. allowing capital to be raised more easily. i think there's a tension between a system that is so well policed and believe me that's in the front of everybody's mind after the more recent events. versus a cost of all that safety making it very difficult to advance. and that's a pendulum moving b

next month will be the three-year anniversary of the dodd frank act. as you know, there are a number of significant rulemakings yet to be finalized. the volcker rule, section 165, section 166, to name a few. can you provide us with an update on where we stand with the rulemaking? are you still optimistic we will see the rules completed by the end of this year? >> it is certainly true it has taken time to do these regulations. a number of reasons for that. first is that they are inherently, many of them, quite complicated. the volcker rule involves very subtle distinctions between hedging and market-making and proprietary trading. the second reason is many of them involve multiple agencies, which have to coordinate and cooperate and agreed on anguage. one rule, six agencies are involved in making that rule. the third issue is we have to do our homework. we have to get these right. that means having extended comments, getting lots of information from the public, and reviewing those comments and doing all we can to make sure we are responsive to those man

. >> this is part of the dodd-frank act. what it does is creates an alternative to bankruptcy for more institutions. so right now the creation of this, the fdic knows how to take over the very small banks. the biggest is that maybe it wasn't a mutual or whatever. but with any theory, we are asked to talk about this in a crisis or not in a crisis. the fdic now has authority to do this probably for the best, they are the ones that are the best to have this authority. we basically resolved and created some site content kind of a process. creditors will somehow be paid, functions will be maintained, with a kind of set the prices and sell off the pieces, they could create a better idea than just bankruptcy. so whoever is gaming the systemic, the fdic is charged with the straits i'm going to say that we have the divide on this process and this committee. a number of other people. so there are a lot of meetings that were presented on this issue. it is very good to be here because it lets us ask a bunch of questions and this is what

speaker, is about the dodd frank law -- dodd-frank law. it's producing -- has produced many thousands of pages of rules and regulations and red tape in a misguided attempt to rein in abuses by some of the nation's biggest banks. however, as is the case with most federal regulations, this law ended up hurting the small best banks in this nation and thus helping the big banks to get even bigger. listen to these words from a columnist from the "washington times." it has been three years since the senate passed the dodd-frank financial reform legislation. so far the effects are not what washington promised. more than 200 smaller banks have failed in the wake of dodd-frank. does it comfort them that politicians proclaim smaller banks were exempt from the market distortions lawmakers created? since community banks are being forced to stay below the threshold forced on them by dodd-frank, they are lending less and making less. this further strains banks and limits job growth. we have learned once again that whenever washington announces new regul

we got the stimulus, the affordable care act, dodd-frank, in the 111th. we got the pseudo-crisis over the debt ceiling and the public downgrade of our debt and the 112th, and the sequestered in the 113th. i sort of rest my case. what i want to say is i agree with chris over bob on staff. that is to say, strong members are serious about legislating, need really good stuff. and one of, and you tell the story, and you say it, that one of the real details of this is, is the extraordinary work done by keith house and senate staff. but members would not have been able to make use of them in that fashion. and then or get into the broader process. so yeah, i'm saying if we have a lot of members who aren't informed and we do, and if we haven't had a lot of silly talk on the floor that is pure sound bite and prepared lines repeated again and again, thank god we have some people people who care about the institution. i'm just worried we don't substitute for jean and amy a bunch of ideologues who don't achieve the expertise and work to try to develop legislation that

next month will be the 3-year anniversary of the dodd-frank act. as you know, there are number of significant all makings' that have left. provincial regulations. and risk retention to name a few. can you providen where we stand with bill greuel makings and also, are you still optimistic that we will see these rules completed by the end of this year? >> it is certainly true that it has taken time to do these regulations. there are number of reasons for that. the first is that there are inherently quite complicated. the volker rule for example involves some very subtle distinctions between hedging and market-making in proprietary trading. the second reason is that many of them involve multiple agencies which have to coordinate, corporate, and agreed on language. i think six agencies are involved in making that rule. and the third fact, the third and basic issue is that we really have to do our homework and get these right. that means having extended comment on france committed and lots of of permission from the public. then we reviewed those comment

keep an eye out because dodd/frank financial regulations are a threat here. >> by the way, does everybody think the market will continue to go up? >> yes. >> no. >> yes. >> i'll go with the yeses. thanks for watching. the number one business block continues with eric bowling and cashing in. me play. ♪ me play. ♪ >>> irs cruise foorg bruising after picking a fight with conservatives, texas senator ted cruze is here. leading the charge to abolish the irs altogether. you don't have to be a reporter for this administration to size you up. now thanks to obamacare if you weigh too much or smoke, ou'll be slapped with a fine. is had a fine with you? nd teacher is in hot water, is this what is wrong with the american education system. "cashin' in" looking for your rightstarts right now. >> welcome to "cashin' in."

agostini it was created in the dodd/frank active the wake of the financial crisis.e're the first federal agency and the object is to protect consumers in the financial market. congress established precedents in the process and this ensures full independence that it carries out statutory responsibilities with consumer financial products it is provided for independent funding to allow for long-term planning and to guarantee with so lot. the 2013 is $541 million as supports ongoing operations capital, technology as well as consumer research. the 2013 budget year in washington d.c.. the 2014 estimate has investments in technology and staff while the budget is small we're committed to using resources wisely and we rely on decisions and will continue but it provides additional resources for our programs over the next two fiscal years also to support additional sap staff and development. also invest in those offices such as the offices dedicated for older americans. the have ventured it meets its deadlines to change millions of dollars of restitution with tens of thousands