Robert Lenzner News Today

Berkshire Hathaway’s longtime vice chairman, Charles Munger, passed away yesterday at age 99. This Forbes cover story from 1996, reveals just how transformational this sidekick was for Warren Buffett.

BG1035:  Jobs, Growth, Freedom, and Fairness:  WhyAmerica Needs a Flat Tax

Since after the great depression, and some people think it is overdue. it is necessary. its what has to happen. and let me just give you a little bit of whats in it. the government wants to help troubled institutions fail responsibly. put another way, eliminate the "too big to fail" idea. let banks and financial institutions fail if they have to without taking the entire economy down with them. limit the types of risky investments that banks take. shed some light on derivative trades. create a c...

Well bring you more information the moment we have it. for a moment, a conversation in another big story were following with robert lenzner of "forbes" magazine and christine romans. peter, im going to start with you. there is a legitimate, i think, argument against reform that says can the reformers understand this speed at which wall street innovates and it will reform -- will regulation somehow stifle or hobble innovation? >> well, if in the derivatives market we try to shoe horn everybody ...

>> theres still a version in the senate. >> we dont know the details. theyve got to do something about restricting leverage. more capital requirements f s everybody and we dont know what the details are. lets hope they are stiff enough to prevent a crisis again. >> thats why were having this conversation and anybody that can like to can write in and tell me what you think about it on twitter or write your senator or congressman. thanks for joining us, peter morici, and robert lenzner, i apprecia...

President is doing? >> i like the consolidation of consumer protection into one place, although i want to be sure that the consumer protector is not so independent that the balance of solvency of banks, because stockholders have not been well protected, lust like consumers lately, that thats balance. i like the consolidation of bank regulator. we had do many of them. i think the strengthening the powers of the fed is useful, though, i would point out in the recent crisis the fed didnt use all th...