Rule Writing News Today

Industry or another and i think that is absolutely slowing down the finalization of these regulations. >> absolutely. ill jump in and say about 90% of the consultation with legislators doing the rule writing has been taken by the big banks. they are really controlling that process and they would like to see it go their way. >> all right, thank you so much for helping us understand this complicated, complicated problem. lets see what our political panel is up to in the green room. michael, youre ...

Point out to really sell democrats on this plan as something that will help small businesses. that hasnt come to pass. i think its a big political problem for the administration, but more importantly i think its a big problem of substance for the country. gregg: one of the other things that may happen is small business owners may decide, you know what, i just cant get continue to operate this way, im going to give up, im going to stop offering healthcare to my workers, and then, you know, worker...

Your setup there is the problem. this is going to be the first of any of a number of delays. i mean, we have already seen chunks of obama care taken out. you have seen the class act repealed. you have seen problems with -- you have seen challenges in the courts, some which werent successful. you have other challenges potentially coming one from oklahoma, you have the hobby lobby question. you have difficulties in the implementation of any of a number of these things. you have had governors resis...

Of that comment. but wall street reform and consumer protection act, was signed into law two years ago. at the time, president obama called it the toughest financial reform since the ones created in the aftermath of great depression. the law was passed over near total republican opposition and is one of the chief reasons that so many wall street donors who rallied to the president in 2008 have turned on him, now fighting full force to stall and weaken the actual implementation of dodd-frank in a...

Sort of the decisionmaking bodies, so to speak, you are free to sort of do what you want. i take your point and lots of people would -- first of all, say well, this isnt good enough, lets go back to glass/steegal. ing the system is so broken it cannot be reformed. our approach is we dont think you have to choose. you can try to work within this system and you can try to build the -- a new system in a group called occupy bank thinking about how would we build a new bank from scratch. >> yeah. one...

>> reporter: suspects say warrens a victim of the republican filibuster strategy. >> said that, look, i think shes qualified, and seems the opposition expressed already, by certain votes you need to have to overcome the 60 vote margin. >> reporter: as much as they warren about warren, republicans are troubled the agency itself is too powerful. >> im all for consumer protection, but i thought it was irresponsible of us to give so much people to one person with no real check against rule writing. ...

Deal with the harsh economic reality marked by little to no innovation. anemic economic growth and virtually no job creation. >> they favor rewriting portion of the legislation but supporters say leave it alone. its working fine. >> the u.s. financial system today is stronger, more stable. and better able to fuel growth. and create jobs. >> still, regulators lag in the financial rule-writing, finishing just 50 proceedings under the more than 240 required by the law. >> reporter: with the one-yea...

>> the u.s. financial system today is stronger, more stable. and better able to fuel growth. and create jobs. >> still, regulators lag in the financial rule-writing, finishing just 50 proceedings under the more than 240 required by the law. >> reporter: with the one-year anniversary of dodd-frank and the consume procedure text bureau it created safely opened for business today but theyre blocking confirmation of the presidents nominee to head it. until he takes over, the bureau will operate with...