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>> it's coming down to one thing. this has been about spending. the democrats have never wanted to stop the amount of spending that they do. they want to keep adding and adding and adding. i do not think it's right that you borrow money from china to pay people to stay home that are able-bodied with no dependents on the couch. this hour, a new "washington post" reporting ties donald trump to the movement of classified documents the day before a scheduled visit to mar-a-lago by the fbi. is the special counsel's investigation closing in? a former star football coach, alabama senato...

Greenspan for a long time. but the republicans were looking for massive spending cuts, as much as 40% or 45% concentrated on the discretionary non-defense part of the budget. again, it's not perfect. but i think it's better than i might have predicted a few weeks ago, if we get to this, of course. >> let me ask you about the possibility of the bond agencies doing a downgrade. fitch, which is less important, let's say, than moody's or s&p, but they are a player, and they may have been trying to get ahead of the others by doing the warning, would you expect that if this thing gets messy over the...

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Their market cap and yet the board of directors is giving them a discretionary bonus. this was in no contract. they didn't have to do this. this was literally a thank-you present on the way out. $12.5 million. >> in your book, you write, and i quote, that the handful of proposals that have been introduced to put the financial system back in its right place and rein in risk have seemed tepid and halfhearted at best. do you think the reforms that we're looking at now could prevent another crisis? does it have any teeth? >> you know, i still am very, very worried that we're not really getting a c...

Do you think the reforms that we're looking at now could prevent another crisis? does it have any teeth? >> you know, i still am very, very worried that we're not really getting a changing the undergirdings of wall street, the undergirdings of our financial system. we're really just doing things that are quite superficial. >> but some of it's not brain surgery in terms of oversight. one banker said, look, we were dealing in bonds and securities and vehicles that had aaa ratings from bond agencies. but those bond agencies were being paid by these financial companies. >> the rating agencies are ...