When theday july first. July 21. Ourl minds are open phone lines are open. We will begin this morning with a story from the Washington Post, as dodd frank turns three. According to the Washington Post, the story points out that several watchdogs were asked tasked with writing 98 rules of the law in this according to representing Firm Financial institution. Jack lew telling an audience of investors on one stay that by the end of the year the core elements of the dotfrank act will be substantially in place. Herald, across the usa a rally cry as organizations by reverend al sharpen. A similar headline from the l. A. Times. We will see that and the second half of the program talking about the Trayvon Martin and the zimmerman verdict. Joining us on the phone is kevin , who is following all of this for politico. He is a finance reporter. Thank you for being with us. Guest thank you for having me. Are the main provisions of dodd frank and what impact has it had on wall street and banks . Guest dodd frank is a huge sweeping piece of legislation. It is comparable to a obamacare in the financial world. It does ising that it tries to prevent an economic slowdown like we saw in 2008. The way it does this is a variety of different mechanisms but one of the biggest mechanisms as to the creation of the Consumer Financial protection bureau. This the brainchild of elizabeth boring elizabeth warren. It gives the authority to make sure that some of the laws in the housing market, as well as some of the banking laws are rewritten in a way ask you about the vocal rule. This gets complicated unless you are an expert in financial market. It involves banks and trade. Is when youm line get to International Markets and , really whatments happened as one of the biggest criticisms of 2008, the biggest , its that were bailed out was argued they did not have enough savings in their bank accounts. Some of the provisions in dodd frank are requiring banks banks sohave Additional Savings they would not have to tap into Government Funds and taxpayer money in order to be dealt out. This step is tricky. When you think back to the great , 1930s, you have to remember a lot of these banks were not taking on and engaged in the business that they are doing now. These guys are now involved in a different type of business and it is a lot riskier. Speedre investing and the of it with technology and how Global Economy has evolved, this is taking on a lot more risk and it is so interconnected that , it isey messed up affecting a will it is a wide sweeping domino effect. Dodd frank includes nearly 400 provisions and regulations. According to your reporting and others in washington, congress has failed to implement more than half, 62 . There has been a renewed effort by the treasury secretary to get some of these regulations in place. Guest here is what it comes down to, partisan gridlock. There are a lot of people industry officials, perhaps some of them are a bit apprehensive of seeing dodd frank fully implemented. They are unsure about how the law will be interpreted. Also, with the speed of this the economy, it is in their best interest to have an implemented staff area that the biggest take away is that this slow pace can lead to market uncertainty. Think about it as a which has been created by government and wall street as a which which has been created by government and wall street officials. As a result, the market as a the economy continues to grow but probably at a slower pace that much people want. It leads to this perpetual state of apprehension. Should people care about this . Why is it important to the average american . Guest this directly affects the economy. It effects how people on wall street are trading and at the peaks and it effects everything. Protection this law is the number one purpose to prevent 2008 from happening again. If it is not fully implemented the argument becomes how do you host his work is Available Online. Inc. You for being with us. Thank you for being with us. Three years later, the impact on you and the economy of dodd frank. The phone lines tom says one of our viewers has this point on our twitter page your calls and thoughts on all of this coming up. In his weekly address the president is also looking at the dodd frank bill. The confirmation this past week, the confirmation part of the Nuclear Option, the attorney general of ohio was officially sworn in at the Consumer Protection financial bureau. [video clip] today, mortgage lenders, student lenders, payday lenders, and credit reporting and that collecting agencies all faces scrutiny. You now have somewhere to go to get some measure of justice if they do not play by the rules. Has address 100 75,000 complaints from every state. Canents and their parents get a simple report with the information they need to make informed decisions before taking up student loans. More than 700 colleges have stepped up to make this information clear and transparent. Have noticed that some credit card forms are easier to understand than they used to be, that is because of the work that the administration has done. Today veterans have the tools they need to defend against dishonest lenders and Mortgage Brokers who try to prey on them when they come home. Seniors are better protected from someone who sees their homes or Retirement Savings as an easy target. Thanks to the hardworking td, people have gotten refunds from unscrupulous practices. That is the money we cannot have have the power to recover before. Host the president looking at the dodd frank bill, three years alone when the president signed it into law in the reagan building. One of our viewers has this bob is joining us from new york city, democrats line, good morning. Caller thank you for cspan, good morning. It seems that we take one step forward and for step spack. Four steps back. The lobbyist for every industry, particularly for banking, they write the rules. They influence congress. They want forith themselves and their interests, not in the interests of the American People. I think the root of all evil in american politics is our Campaign Finance laws. Blanket andl we can solve the problems that exist , then the Campaign FinanceBanking Industry is going to have complete power over the congress. Thank you very much for the call. This is Joseph Ramirez who says laura is joining us on the republican line from troy, michigan. Good morning to you. I have to say first i am a cspan junkie. I am utterly amazed at how fast people complain about the poor and those on welfare, look at what they are doing, they are stealing money. And yet, they totally look past the banks and wall street whose real millions and in some cases billions, far exceeding what the cheat the ever government or do whatever they claim they do. I concur with your last caller, Campaign Finance laws are a must. The other day i went to a stored to buy a tv. They were offering a discount of 15 if you had a charge card with thats your with that store. I was absolutely amazed that in some cases people are paying between 28 and 30 interest on charge cards. Think that is absolutely mandatory that something should be done because the poor will always be poor. The banks make them that way. Thank you and keep up the good work. Point ald has this again, join the conversation on our twitter page some other stories were following for you this morning, cq weekly focusing on the middle east and a photo with a photo of john kerry meeting with the head of the persian kingdom. Inside, this is what the story looks like pointing out that as the persian gulf states compete for influence, the United States is restrained by its need for military bases in the region. For senator ted kosten, who replaced joe biden, also serves as former chief of staff and , penned thisor piece online. The Davis Polk Law Firm has been keeping tabs on what has been accomplished, only 155 of the 398 rulemaking has been finalized. Allie is joining us from black river falls, wisconsin, democrats line. Three years after dodd frank, your thoughts . Three years. How many bankers it we put in jail how many bankers did it put in jail . Hundreds of billions of dollars. If i do not pay the are going to put me in jail. Street kers on wall the bankers on wall street stole hundreds of the liens of dollars. Hundreds of billions of dollars. Am a socialist. These are the good people. If they do not go to jail i will never vote again. Stephen henderson, who joined us friday as we talked about the situation in detroit, has this on the front page of the Detroit Free Press a white house spokesperson said they are remaining committed to recovery. The Vice President was even more aloof. The we do not know how the government can help detroit. It goes in large part to spectacular subsidized and abandonment and consistent Manufacturing Policy and retirement issues that are beginning to sink cities around the country. Thisre interested photograph really the strides the situation really describes the situation in detroit over the past 50 years. Any of the homes that have been torn down, this one remains standing. The story is focusing on the individual responsible for the bankruptcy proceeding. He is among a tiny handful of prominent american turnaround lawyers in the country. He was best known as helping to guide chrysler through its french slang that ship through its wrenching successful 2009 bankruptcy. Through its wrenching successful 2009 in courtesy. 2009 bankruptcy. Dodd frank, three years later. Micah is joining us from new york city, good morning. Caller good morning and thank you for cspan. I have been following this dodd frank situation and i thought it was a good law. [indiscernible] today they have not given me a final decision. I have to go to the attorney general. They are now going to send me a letter saying i did not give documents. They are a bunch of liars. They should stop this lobbying. They cannot help poor people. I have people struggling i lost my job, i was laid off. I am still making my payments every month. I just need some options because my Interest Rate is so high. That is all i wanted. I have a stack of documents. Thank you. Host thanks for the call. Front page of the Washington Post, he has written about president s early life. Andrew is joining us from manassas virginia. Good morning on the republican line. Caller it started on the same premise. Everything needs to be fixed by the government. The fact is the meltdown was a result of government meddling in the free market system. Want to know what happened to detroit . It is american greed. People do not need to all own houses. They do not have the responsibility. They signed a contract. The two people that should have been hurt in those contracts should have been inc. s and people who signed it. Banks and the people who signed it. Most people ended up in that meltdown because they took too much house. They used all sorts of techniques. Host this is from our twitter page and this if you are just tuning in or listening on cspan radio, coasttocoast on xm sirius channel 119, paul is joining us from texas. Good morning. Caller the whole point they are missing in this whole thing is the reason for the banking meltdown. The reason for the banking meltdown was the repeal of the glass eagle act the glass steagall act. The glassoint of steagall was that thinking was all private. If you want to make risky investments, use your own money. They allowed these banks to use lender money to make investments, which is what the glasssteagall act protected citizens from. Regulations regulationsave a like this it favors the big businesses. Host from the pittsburgh posts because that its burg post gazette. You can read Details Online at the pittsburgh postis that the website. You may remember the house of representatives are voting to repeal part of the president S Health Care law. Not only the dude not only the employer mandate but also the individual mandate, that was the topic of the weekly address by the gop. [video clip] calexico story i recently heard from a 20yearold hispanic american who runs a Small Business in my district is becoming all too familiar. He employs 45 workers and according to him he is ready to hire 10 or 20 more. But he cant because obamacare makes him choose between new, higher insurance unions or a hefty fine. He says the government should be my partner so i can help employees prosper. I can help them more than the government but i am literally not able to. The whole thing is a train wreck, clean and simple. Bottom line, the sooner we can delay we can get people back to work and focus on expanding opportunity for everyone. From the weekly address. Rom the gop the comments from the Deputy Director of the Defense Intelligence agency, speaking at an event sponsored by the New York Times. Chicago politics is part of the front page story this in new orleans us on thening democrats line, three years later for dodd frank, your thoughts. You are on the air. I would like to talk about our governor. Can you hear me . Host we sure can. Caller he used to work for from the tulsa world, you can read more by logging onto the tulsa world closed club for that story. And this tom is joining us from las vegas. Caller can you hear me . A keeper cspan. Thank you for cspan. I am a republican but i am an american. In regards to dodd frank, for that phoneze call, we do not like to have this on that network not like to have that on this network. Caller i work in the mortgage industry for over five years now. One of the things i have noticed is that the bulk of the people affected were minorities. A sunday information we see, a lot of the money that was pretty much taken due to the fact of minorities being mistreated in the housing market, it has been sent back over disproportionately to the majority in this country. One of the things i want to say is a money did not leave the earth. It still here. Where did the money go . Host thank you for the call. I want to share with you this headline, the front page of the New York Times the obituary on helen thomas who passed away this weekend at the age of 92. Also this morning, appreciation inside the Washington Post come along Team Colleague tom defrank who joined us last week to talk about armor former president gerald ford has written yes, she had a blind spot for the palestinians. It proved her careers and doing three years ago. Make no mistake, more than any other white house journalist of her era, helen thomas is responsible for turning the Daily White House briefings into an appropriately adversarial institution. A few years ago, we sat down to talk with helen thomas about her role here in washington as the dean of the White House Press corps. Here is what she had to say. [video clip] i never aspired up the ladder. I always wanted to be a reporter. I was astounded when i came to this town nobody ever told me it was a mans world. Law, medicine, and so forth. I hope i have been in the front of always trying to fight against discrimination against women. Was appalled to see so much we did not get into the National Press club until 1971, but we were manning the barricades for years. With afirst luncheon foreign dignitary at the National Press club that i attended, i think it was the Prime Minister of india. I was amazed. We were having lunch on the floor. We were all men. Up in the balcony are the women reporters. They were not even allowed to be not only members, but on the floor of the press club. Host two veterans of the White House Press corps. Looking back at helen thomas career at the white house. She passed away over the weekend, 92 years old. We will continue with washington journal. Robert raven and brian walsh will join us to talk about the week in congress, and later, Race Relations in america. Will be at about 8 30 eastern time. Some of the topics making news in the heard on cspan radio sunday afternoons. Ansi callow is keeping track of the other sunday morning programs. Nancy callow as keeping track of the other sunday morning programs. Topics will include Race Relations in u. S. , Immigration Reform, and detroits decision to declare declare bankruptcy, among other issues. Cspan radio reairs the programs beginning at noon noon eastern with nbcs meet the press. Todays guests include Michigan RepublicanGovernor Rick Snyder, aggression or black caucus chairman democratic representative marcia fudge, and National Urban resident mark morreale. Withp. M. Abcs this week texas senator republican ted cruz and days thing. At 2 00, Fox News Sunday with detroits emergency manager, maryland representative marilyn edwards, and dr. Ben carson. Cnns state of the union follows at 3 00 p. M. With Candy Crowley talking to Arizona Republican senator john mccain and democratic congressman Cedric Richmond of louisiana and Javier Becerra