Boca Rule News Today

Unemployed, also. i think we cant -- this whole thing of austerity is not the way to do it. keep in mind, in europe, the unemployment rate is 11.9%. they have gone on that austerity type thing. we have to find ways to stimulate the economy. the van hollen proposal is one where he addresses this issue by having targeted cut so you dont do so much damage to the economy bringing back up the boca rule and having tax reforms that address loopholes for these gas companies, oil companies. we have to do...

Act as far as it goes, but it did not resurrect glass steigle. wall street has been trying to get rid of the boca rule, and now i think there is a political possibility -- barney frank knows better than i do -- but i think there is a possibility to come on much tougher at least for democrats and the obama administration to say, now is the time to bring back glass steigle. >> you are avil villain to the guys, i think. do you feel like that, that the big business tycoons that love as much cowboy l...

Million for my opponent. the republican who ran against me announced he filed his sc forms. until the primary in september, for about a year, they only raised thousands of dollars. as soon as he was a nominee against me, he raised several million dollars in six weeks, couldnt keep track of it. but yes, the boca rule enforced, and i believe that we have the rules in there -- we have the one that would allow what jp morgan chase did to make it legal, but its not enough. they werent derivatives bac...

Bank. so yes, the boca rule -- >> explain the boca rule in the english language. >> if you were a bank and received deposits and because of that you get positive assurance from the fdic, you may service your clients but you cannot engage in trading on your own account. you can lend money -- banks are supposed to do that. theyre supposed to take money from people who have excess capital, bundle it up and give it to people who will produce goods and services. if youre a customer, a money manager, ...

Careful. thats where the tea party movement came from, the bailout of wall street. taet party movement hates wall street as much as -- >> then why are they republican? >> because they feel like the government has been taken over by wall street. theyre all in cahoots -- what jp morgans jamie dimon has been doing and wall street as a whole has been trying to erode the dodd/frank bill, trying to provide even more license for what they were doing before. the so-called boca rule under the dodd/frank ...

Of wall street firm to the disadvantage of all firms in america. >> on the flip side, karl. this bill goes after those big banks. if the boca rule gets passed. this breaks up the big banks . they are outraged. isnt that popular with main street limiting their size? >> no. the volka rule will not break up the big banks and would not apply to goldman sachs activities. it would prohibit bank of america and j.p. morgan to engage in trading. it would keep them from buying and selling u.s. treasuries ...