Or something hits fan were all going to regret that. To david asman and Charlie Gasparino on whether they agree with that. Charlie you bemoan the same wing with doddfrank. There is a bit of hypocrisy on former chairman volckers part he was part of the apparatus that created a massive regulatory structure kept the banks huge went that structure. Neil and left out fannie and freddie. I think he is write in what he says are there will be another crisis, it will be worse when it does happen with more risk in too few banks, but he is reason why we have this. I 1 wouldnt go that far. Neil let him answer. Would you let me finish. Let me finish. I am not wrong. You are wrong. I know what was happening in there. He was put in there add window dressing let me finish. He is my hero he did sleigh sla y inflation, he stood up to banks and wall street, and he was the put on this Committee Without really i think he is right, that banks are more concentrate, they were doddfrank was supposed to make it less concentrate give Community Banks more power but they are less power. Cause frankdoddfrank is doing opposite. Youre 100 wrong on volckers role. I wanted this out i wanted this out. I am not wrong. He was not on a committee paul volcker was ad visor to alabama onissues volcker has never mentioned to president obama they show should do one thing and one thing only that is break up the banks. Neil he is now saying it have a problem is it . It is. Charlie would agree dont assume anything. I should not he was against doing what happened 20 years ago when they split up or allowed financial and commercial banking to come together so financial wheelers and dealers on wall street had access to money pumped up by Federal Reserve that is when glory days of wall street started. Volcker was against that he saw that normal focus on the there their money will be mixed in with wall street money that is a problem, volcker saw that. I never heard paul volcker saying we should reinstate glasssteagall that is what you are talking about. He was biggest enemy of getting rid of glasssteagall. This is what paul volcker wants. Neil he worked with him some so did i. And longer, and i am older and longer. Neil he is rubber you are glue. Volcker wants banks to be regulated by utility. With 0 earnings, that is okay. But if is it a mistake if you break them up. No, here is how you do it you create a free market way of doing it you tell any bank if you want to be involved investment banks on the side, doing that crazy trading stuff guess what were not going to ensure your deposit. The scary thing about what he is seems to be endorsing is a megaregulator that would carry out the work that scc and other Bank Regulators do it reminds me of how Homeland Security would solve all problem after 9 11, we get fbi and cia all together under one roof, it did you did you not it did not solve all problem. Neil if bank of america were to be on the rocks right now would we bail it out. Absolutely. Financial crises did not occur because Lehman Brothers and bear sterns went under they like to say Lehman Brothers was the trigger it was not when they went under everyone realized that citigroup, bank of america, and goldman and motor beganmorganstanley had the same crab on their balance sheet. We were we were up against the wall in terms of trying to go against that pole see. Neil milting down. Fox just began when that bailout began we were fighting against it tooth and nail, there was a determination to keep these banks afloat, when probably what should have happen they should have broken up on their own. Neil . They created a monster if if you done bail it all it would have been armageddon, this is what fed did, i think volcker is right somewhat, Federal Reserve, government over last 20 years has bailed out the banks several times on the way. Yeah. Creates moral hazard, and allowed glasssteagall. So why should they we okay, all right. Neil okay you see why he is the better boomer. Sad i love it. Thank you so much. I look younger than him. I am not. Neil each is over 80. And meanwhile Hillary Clinton a banker friend is doing everything she can to assure her partys left but not in bankers pocket . De blasio is reportedly thinking of jumping who the race as a antibank guy. With his financial baggage glech en yougretchen you said this would hurt Hillary Clinton. It will. It far left does not believe it is being represented. That comes with inequal treeity and occupy wall street they want hillary to be pulled to the left on these issues. Neil the issue is this sort of stuff is like a thousand cut its does hurt her. Right it is come down to in primary and direction candidates will go to survive in their own party, de blasio is a huge clinton ally, bill clinton score him into his office. Neil this just wreaks phony to me doesnt it. Yeah, he was up against eliz Elizabeth Warren trying to the do the same thing, i think he is trying to occupy the warren space. If he does not run he would be a huge ally of Hillary Clinton he would help bridge in the more progressive democrats that hillary needs to distance herself from wall street. Neil you are going to think i am crazy, but i think that clinton will end up the democrats nominee. I dont know what happens, but i think it would be akin to Lyndon Johnson not running for president in 68, that the rumble on lift was too much to left was too much to deal work he opted out, i dont know the mode and pattern of events that would lead Hillary Clinton to opt out or get defeated out right. I think that is a real possibility. Were in april 2015, were already saying that is a core on core nation. Think back in 2007 we thought Hillary Clinton of the nom ni nominee. If anyone says they know what is happening in 2016 they are lying to you. Neil i just told you what is going to happen, but morningy, what do you think margie what do you think this will hurt her. It looks good from afar, but far from good up close. Obama was elected he was the untouchable and put on a herculean platform, i think she is the same thing that is dangerous, living up to expectations is always a challenge, she will be scrutinized with a sharper eye she has more history more things to point to and pick up and for republicans to go after. I love that confidence, neil, i want that 8 ball you have. Neil would it be ironic the one thing she has supposedly her biggest advantage is her undoing. It could be. Neil thank you for indulging my wacky thoughts, i think time warner and comcast or getting worried top brass getting in to sell a merger that is looking iffy and dicey this announced pairing starting a wave of m a activity. If you think about this whole merger or talk of it, set in motion huge deals but, i am wondering if it unravels then what . If it unravels this is a dangerous message why go through effort of Due Diligence to figure out quality combinations that the market will like if the government will step in 9 months later and say this is not going to happen. Neil these two are not known for their Customer Service, but the beauty is you would have two companies with Lousy Customer Service becoming one big company with lower Customer Service if it does fall apart on feared washington scrutiny, a lot of deals could fall apart. It would send a bad message about be on obnoxious federal conceit time warner merged with aol about 15 years ago we know how well that worked out. Idea that feds can look into future better than they, is not credible. Neil lay say that deal unfoldeds and other deals start unfolding, normally it is a market creation then, but message would be. What from washington . For those pondering deals post barack obama. It would be a very negative message that the the government will decide winners and losers. Its so hard to know, aches nbc, and aches abc and nbc and cbs turned down the sopranos. Neil i forgot Major Networks turned their noses at the sopranos, i just thought they were antiitalian. Neil meanwhile the latest isis atrocities they are beheading them now republicans are calling for more money to fight them it is not the money were spending it is how were spending it. People ship all kinds of things. But what if that thing is a few hundred thousand doses of flu vaccine. That need to be kept at 41 degrees. While being shipped to a country where its 90 degrees. In the shade. Sound hard . Yeah. Does that mean people in laos shouldnt get their vaccine . We didnt think so. From figuring it out to getting it done, were here to help. Neil you know it never eases afternoon seeing these images of isis thugs rounding up christians and killing them, they say defense needs more money to put isis away. I support the goal, are they saying a Defense Budget of 560 billion, to go over 600 billion next fiscal year, cant do the job . Isnt that what democrats have been arguing in defense of more Infrastructure Spending even though we fork over 100 billion each year in taxes and fees for fixing our eroding and bridges. To hill reporter, kevin on when it comes to spending republicans, might not be that much different from democrats kevin, what do we make of this . I am for Strong Defense and but if we cant do that on close to 600 billion, i dont know if one. 2 trillion could cut it. You know, i think that is a classic case of washington saying one thing doing another there is this wild reaching feeling in washington that time to rein rein in develop defense, a lot of weary about cutting that Government Spending despite the 600 billion budget. Neil but why . I know we have to fight isis, but this is a budget, that iraq war, afghanistan car spending highs, so, i am not saying we cant be vigilant but dont republicans criticize democrats or thinking this solution is always more money with infrastructure or entitlement 1234. You know, and in addition to, that i have to tell you that, the just the other week you had republicans that were saying they want to rein in Government Spending but also indicating they want to increase defense spending, i think as we enter into the 2016 election cycle republicans will criticize former secretary of state Hillary Clinton for how she managed the state department. There will be a lot of questions how republican contendors would manage that budget themselves, the wars have since declined. We do face an emerging threat overseas from isis, we have to look at what is being done here in u. S. , u. S. Bases across the nation that perhaps are not managing the money the way they should be. Neil and i should stress not all republicans and not all democrats. Im saying, sequestration cuts, were like a back up backbone for these guys they should adhere to that to instill some confidence that they are up to the task. You know, i also think that the Defense Community in particular all these defense officials are going to continue to testify on capitol hill should have to answer to where all that money is going here. At u. S. Bases based in our country, not just, overseas, but a lot of that wasted full spending does not happen oversea bus at u. S. Bases here, outdated military bases thats without date outdated technology, and programs that is where i think that defense officials who have been critical against lawmakers they should an story that too. Neil okay, what would you cut or adjust or reprior ortize to meet the challenge . Well put kevin thank you very much. Thank you. Neil what is greek for uhoh. What is the big deal if greece just leaves European Union, who cares if others follow . You ever think the club itself is the problem. Why it is time for europe to pull a frozen, and just let it go under loud music this is the place. Their beard salve is made from sustainable tea tree oil and kale. You, my friend, recognize when a trend has reached critical mass. Yes, when others focus on one thing you see whats coming next. You see opportunity. Thats what a type e does. And so it begins. With e trades investing insights center, you can spot trends before they become trendy. E trade. Opportunity is everywhere. Gives you security. Technology gives you control and now Technology Gives you Home Security and control in a new and revolutionary way. Introducing plug protect from livewatch security, an easy to use Wireless Security system customized just for your home. Control from any smartphone, tablet, or computer and monitored by professionals 24 7. Go to livewatch. 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We answer to the same government. Give up on this club of yours give the greeks back their drachma, the italians their lira. It failed. This is saying nothing negative about germany, but this is a new world, the same europe that does not want to be part of new world world. Todd agrees with everything that i said, todd, lit it go . I think you will never get a drink of use uzo and you will never get the chew bani yogurt again. This is not worth it here is key, italy and spain are no longer quite the basket cases they were. Neil you are right. But fear is they would be. Today when greece looks like it is close to being pushed out bond yeles yields soared to 13 italy, and spain are borrowing at 2 today. Neil is it the end of the world if you leave this club . Look, at iceland. Neil dont get me started on iceland. There is your frozen metaphor. Neil there you go. Look at what iceland did during the whole meltdown they reneged on their debt, they left some British PolicePension Plans high and dry they said were not paying back any of this icelands economy has been growing,. Neil so too argentina. There is life after Something Like this . Yes and i tell you a problem that greece had looking at it, among greeces industries that are successful, tourism for example. But if you stuck as a week hotel hotellier or a restaurateur in euros it is much difficult to drop what you are doing. It would be a good thing for greece economy. Neil we went force everyone to be pegged to the same thing. Right . They dont fit. It really, should have just been a German Alliance perhaps with french. Neil what would happen in it disbanded to local currencies. Germans are scared that if it breaks apart the value of their currency a new deutsch mark would skyrocket and exporters would not be able to sell because daimlerbenz cars would be too expensive. Neil daimlerbenz customers would happily pay more for their stuff. There is a market for good stuff, they make a lot of good stuff, then the reality retail to see europe is better in its individual strengths in countries than it is if instead of skinny little me you had helmut kohl. He would tell you,. Neil he held big men everywhere. He would tell you its not economics it is politics, eurozone is a political movement, i ask Vladimir Putin in russia, would be salivating at idea that europe falls apart if greece falls out remember he went to this length to send his storm troopers to crimea, and ukraine. If he could create a partnership with greece, that are right about that. I did not think about that little part of whole Global Security thing, but i ill think i am right. You probably are but state department is calls white house. Neil keep it together so russia does not move . Right, Vladimir Putinna is a dangerous whiley guy. Neil i looked in his eyes, he looked fine. I have a piece in time magazine. Neil la dee da. Urging putin to see broadways dr. What shavago. You are a genius, a beautiful daughter here today, she is the same dna. She is