Transcripts for CNN Smerconish 20211016 13:36:00 : vimarsana

CNN Smerconish October 16, 2021 13:36:00

$10,000 cash transactions. that is what we were told is the basis and genesis of this idea. all around, it's just a terrible process. it lacks any transparency and it needs to be stopped. >> why if already there's this automatic reporting of accrued interest is it such a leap in your opinion, if now we're talking balance information? >> sure. well, there's a wild difference between banks reporting 1099 interest income. and banks reporting every time there's a $600 transaction, inflow or outflow. the two -- it's a false equiv equivalency, and the fact that janet yellen who is an extremely intelligent individual would make a plame to me is preposterous. >> the concern i have, i have an aunt whose bank has always, literally, been her mattress. >> uh-huh. >> i feel like there are a lot of folks among us who are going to go back to the mattresses if

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