Page 23 - Broadview Security System News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Of that basic system, and we're going to make sure we preserve that fundamental strength. but to do that, we've got to make sure we've got a system that's a bit more stable over time and does a better job of working for the customers of banks. >> if that's the case, why do all the big banks feel otherwise? they all feel as though you're going to make them less profitable, less competitive globally. >> just think back and think what this crisis showed. how good was this system for a bank shareholder? it wasn't so good. how good was the system for a company that relies on banks to provide credit...

Housing policy, i mean we have all these massive distortions that we put in place. you know, this interest -- mortgage interest is deductible, you don't pay taxes on it. you don't pay capital gains tax when you sell your house. the loan is non-resource, you can walk away from the loan. then you have fanny and freddie mac pouring money into the system. is it a surprise that it caused this enormous bubble and shouldn't the fundamental reform really be that we have to rethink all of that? >> i agree, that's the argument in doing reform in these stages because it is a very complicated mix of decis...

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Institution. the institutions are fighting these reforms and they're not all fighting it. but some are fighting the reforms just because they think that they have the chance to carve themselves out of these protection and gain some short-term benefit from that. but we're not going to support a bill that is weakened by big exemption that say leave the system in place because that would be irresponsible for the country. >> you want to get republicans on board. you've said that. >> and we will. i'm very confident. i think we're going to have very strong support from republicans for a strong bill....