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Fact, an unstated thing. this is codified into law if you read this thing and i didn t read it, i ve spoke to people that allegedly read it and they believe it s codified into law, that somehow, that the notion that the government is there waiting for you to implode and take any road before, that all leads to that notion of too big to fail. charles, i cannot envision a scenario where let s say citigroup on the rocks or bank of america more to the the point that we wouldn t do something. absolutely, i mean, charlie is right. listen, they name these one thing and they always mean something else. i don t think it was designed to do the all the things that they tout now. it was always designed to punish the banks, and put them into their place to show them who is boss and the fact that chris dodd, and chris dodd, listen, the white house told him he couldn t run for office again, every now and then he slips and tells it like it is and that s exactly what happened this time. the fact is, ....
Fairly well, the ability to control other financial institutions is what this legislation, i hope, is it going to get us and that s going to be extremely helpful. neil: dagen, do you buy that. we ve always been able to see banks. neil: dagen. no, and there s no uncertainty hasn t been cleared up. economist bob shiller called this a plan for a plan and according to the u.s. chamber of commerce there are going to be more than 500 new rules, created, made by all the different regulators. compare that to 16 for sarbanes oxley. so if anybody tells you they know how this is going to impact everybody in the country, every financial institution, they have no idea and we don t even know, have any idea whose hands this really winds up in. you know, the basic structure of the banks remain in place, the structure that led to the massive balance and risk taking, i mean, citigroup combines trading and insures deposits, it s still there and not changing that, just a couple ....
The end, something that was supposed to be an improvement over the system we had, and that something, doing something was better than doing nothing, yet, something we did does not include the fannie mae and freddie mac, that got us ostensibly into this mess, that s out of there. i think that something like this is worse than having done nothing. what do you say? well, i disagree okay, your final appearance on the show, but continue making your final point. obvious, obviously another crisis is not only possible, but likely. he is just stating the obvious. remember, it was no, no, no, but you don t remember the press before this, buddy. they were saying we re going to stop the next recession, never going to have what we had in 08. in the end we re having another 08 and when we do hopefully it will be better than 08, but we re going to have another 08. or not as severe and i think if you strip away the language, that s a pretty good goal. i just want to point out that we h ....