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And i just couldn't be more pleased. something good for consumers and good for banks. >> a number of those prototype forms show is what you should be paying for the various parts of a mortgage, what's optional, what shouldn't be there. i would have love it for the last several mortgages i've gone through. let me ask you about the consumer financial protection bureau. how much authority does it have? >> well, it has in my view, enough authority to get the main job done. that is, to be able to work on things like this to make prices clearer and to make it easy to compare products. but it works u...

Want to put it in the political process so that the lobbyists will have a real influence over the activities that we take. the other thing we have that i think there's nothing like it anywhere in government, the other banking regulators can take a look at our rules and say yeah, it may help consumers but, we think it might not work out for financial institutions or be hard on the economy. and, therefore, we're going to veto your rules. nobody else does it. i have to tell you, i don't think we'll do anything like that but boy, you kind of look over your shoulder when you know your rules could b...

>> we have over 50 tlts in unfunded liabilities, medicare, medicaid, all unsustainable. i think we need to do something in connection with the decision to raise the debt ceiling. it deals with the debt. both medium and short-term, medium term and long-term. that what it would take to get my vote. >> a cnn contributor, secretary geithner said not raising the debt ceiling would be catastrophic for the economy. now, he concedes no one knows for certain what could happen in the event that it's not raised. are republicans willing to risk sending this fragile recovery that we're in into ch...

Market. and we're behind this, behind it big-time. and i just couldn't be more pleased. something that's good for consumers and good for banks. >> a number of those prototype forms, a couple of of them show exactly what you should be paying for parts of a mortgage, what's optional, what shouldn't be there. i would have loved it for the last several mortgages i've gone through. let me ask you about the consumer financial protection bureau. how much authority does it have? >> well, it has, in my view, enough authority to get the main job done. that is, to be able to work on things like this, to ...

But importantly, it is capped out of the political process. there are politicians who want to put it in the political process so that the lobbyists will have a real influence over the activities that we take. the other thing that we have that i think there's nothing like it anywhere in government is that the other banking regulators can take a look at our rules and say, well, yeah, it may help consumers. but we think it might not work out for financial institutions or be hard on the economy. and therefore we're going to veto your rules. nobody else does that. i have to tell you, i don't think ...