Vocal Rule News Today

And youre starting to see those organizations get strangled out of business and some of the bigger banks have gotten bigger and bigger. its a matter of tweaking it. in the last eight years, theres been a divide and people have been so angry, and the funny thing is, those hard core donald trump supporters, one the reasons theyre angry is because they lost their home or small business, but repealing dodd frank isnt going to open the doors again. >> one argument that you get, from the administratio...

And including consumers and exotic derivative transactions and other things people didnt understand. that is to say it is not something that would have been prevented by this proposal. >> those are the activities the banks want to pursue. that is different than holding my capital or my neighbors capital or the savings that we want to invest in a bank. that is not putting them at risk. what americans know today is that they did not get a bail out. so they see wall street with record profits going...

To fail are much, much bigger now than they were. nothing was done to get rid of what i called naked credit default swaps that was just flat out gambling by some of the largest financial institutions. that puts the american taxpayers at risk. there is a lot yet to be done and the administration is going through writing rules and some of these are delayed. i still think were far short of the solution that is necessary. >> and a lot of people have told me that the cfpb was probably the best single...

Invest our money in really safe things. they invested it in risky, risky trades. there is a part of dodd-frank called the vocal rule that is about this exact same thing. saying that banks that enjoy fdic insurance, they are ton make risky bets and are not what to do proprietary trade. this rule has yet to be finalized. we have been waiting for a very long time. it is supposed to be done at the end of this quarter but it needs to be air tight. because if this rule is not strong and is not done in...

Worried about at the moment is that washington is going to constrain their business so much that its going to be harder for them to make money. thats the concern. your friend elizabeth warren will have her way. >> ok. so let me ask a question on the other side of that. because obviously doesnt this make one wonder what other risky bets are happening out there, beyond this? thats number one. and number two, reading over the weekend that had some facets of dodd frank actually been in place instead...

egyptian desert. a world war ii fighter plane almost perfectly preserved. im wolf blitzer. youre in "the situation room." -- captions by vitac -- www.vitac.com >> were getting new details from a news conference that has just begun. a dramatic case in mississippi and lets go live to jackson, mississippi. >> the department of wild life, fisheries and parks and special agents response team conducting searches of the area, thoroughly combing heavily wooded areas. it was the diligent effort...

Can ever threaten to bring down the whole economy. to that end, the bill would also enact whats known as the vocal rule. theres a tall guy sitting in the front here who is -- who we named it after. and it does something very simple. it places some limits on the size of banks and the kinds of risks the banking institutions can take. this will not only safeguard our system against crises, this will also make our system more stronger and competitive by instilling confidence here at home and across ...

All: i did. after failing to win republican support, chris dodd proposed his own fixes for wall street. critics say they wouldnt even deal with the big problems that led to the collapse in the first place. eamon javers joins us now. lets talk about some of the elements. he does include the vocal rule, so this is one thing the white house likes that has been proposed. there are a lot of other things that arent even in here. fannie, freddie. some of the issues that led to the problem in the firs...

The assumption theres always availability of credit. thats the purpose of the federal reserve, to be the lender of last resort and that is what causes the moral hazard. thats what causes people to make all the mistakes and take these risks because they figure the fed will be there to pick up the pieces and the people get stuck. >> congressman, what about shareholders and board members deciding on executive compensation? are you okay with that? >> well, i think its a great idea, but i wouldnt man...