Page 428 - Abuses News Today

That doesnt help. >> we took a step in reform on carried interest in regards to the three-year holding period. for those making long-term investments to get the benefit of -- and i believe in lower capital rates for investment return. you had a great segment on what is the difference between investment return and labor. i think thats where the heart is going to go. >> private equity firms and real estate firms dont have short-term investments. private equity firms have long-term locked up kcapit...

Nominate someone permanent and the senate confirms it. but it is a battle over consumer protection. >> thats right. youre exactly right. it is not if, it is when theyre going to defang, declaw, dis disembowel the agency. it is precisely why it is supposed to be insulated from political influences now raining on it. this looks at pay day lenders, pawn shops, small lenders, big lenders. it created a new environment for banking institutions, returned billions back to consumers. if theres a popular ...

From the past. this agency is the only thing standing between consumers and a lot of abuses. >> strikes me that the democrats have chosen to fight this battle which ultimately they will lose, ultimately the president will get someone he wants to run it, whether it is today or two months from now, we dont know. you have this fight where the democrats feel it is worth dying on this hill. add it to tax reform, to the government shutdown, to the dreamers issue that will come up this month. we have 3...

Important thing is congress wants a special agency to protect consumers and we needed that. there were horrific problems with mortgage originations leading to the financial crisis and was a key contributor to the crisis. there are other long-standing abuses for instance in the payday loan market which the cfpb is working to address. i think theres a lot of republicans out there who also believe in consumers and hopefully trump can find one to get confirmed. longer term, thats really the path and...

Went on the supreme court had been in the kkk. robert bird, majority leader of the senate, had been in the kkk earlier in his career. do we want to extend this to peoples entire lives? we need to show a certain amount of -- distinction. >> so where should the line be? >> in a bunch of different places, but the first one is between child molesting and groping. >> yeah. should be a very -- easy line to -- >> an easy line. what about the harder lines to draw? what about the al franken line, the con...

And test been there like in like a snowball effect that its been just growing and growing and just yesterday evening the swedish academy. has to come out with a statement they are going to give out the nobel prize soon and theres this is a really symbolic power institution with the cult of the genius and everything like that and the and they have been collaborating with a man who has been named and shamed for. abuses even now in. the swedish academy the discussion what has come out of it is they...

Information can either cost you money or earn you money, perhaps millions of dollars if you find it out first. in either case, it is illegal. >> the single biggest currency on wall street has always been information. and in the 80s, that information was trading back and forth. and investors were talking to their buddies. they went to business school and law school with who were working on these deals to find out. it was pervasive. >> the security and exchange commission, which monitors potential...

Be. as long as you have a hostile congress and now apparently a hostile administrator who is going to be running this agency, it will become a shadow of its former self which is really too bad. >> gabby, essentially, its an aggressive watch dog -- a consumer watch dog. its got broud power to combat financial abuses, but its a critical agency, a lot of people see it, for consumers. is it strong enough in some capacity, though, to survive? is there a sense of that? >> well, the treasury department...

Opportunity, now that trump weighed in on this, to walk the walk here and cleanse their own party. but this is the issue. politicians in d.c. are use thing ethics investigation as a scapegoat, to buy themselves time, to hope it goes away. survey usa came out with a survey in minnesota, showing the majority of voters want franken to resign. it will be interesting to see if he gives up to the pressure. you saw this in california with several of the legislatures. but youre not seeing it so much on ...

I think that we need as many stories as b possible. whether theyre in the realm of hollywood or hotel housekeepers or politicians because i think we need to understand this is not about any particular industry. its about abuses of power across the board. i think politics also has to be accountable, politicians have to be held accountable just like anybody else, but it is not the most helpful conduit u to understand this because it triggers peoples tribalism. anybody whos abusing their power need...