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Napolitano. it struck me, judge, to give a standing ovation to chris dodd and barney frank, a lot of people would say if it weren't for the two gentlemen on the banking committee, the crisis wouldn't have happened, that they enabled the loans that wall street took and bundled, so here we are today, standing ovation for these two. what have we got in this bill? >> why would they want a bill named after them which is destined to be found unconstitutional by the supreme court? let me tell you what stuart alluded to that allows the government to do, to come in and examine the books of any corporat...

The group from the house led by barney frank and a group from the senate pled by chris dodd reconciled bills and made the deal and will send the bill to their chambers by the fourth of july. they worked on it until 5:39 this morning. president obama spoke about this and what the bill means to you and me. >> credit card companies will longer be able to mislead you with pages and pages of fine print. you will no longer be subject to all kinds of hidden fees and penalties or the predatory practices of unscrupulous lenders. >> that bill will also let you get one fry credit report a year from the c...

Banks will not be allowed to have these derivative trading desks within their bang. they've got to separate it out. those are the three main components of this bill which is likely to be signed by july the fourth. add it all up, bill, it's a huge defeat for wall street. bill: a huge defeat because some are parsing the language and saying they're not going as far as we thought they'd go. >> it's gone a long way. it's a 2000 page bill. you can bet your life that every lawyer in washington, d.c. is poring over it as we speak, looking for loopholes. they've got a big weekend coming. bill: stuart v...

Continued to affirm that our national economies are inextricably linked. just as economic turmoil in one place can quickly spread to another. safeguards in each of our nations can help protect all nations. i'm gratified we made great progress towards enacting these safeguards as home. because of the incredibly hard work of chairman dodd and chairman frank and the strong leadership of chairwoman lincoln and chairman peterson and the great efforts of the conferees of both parties up very late last night. we are poised to pass the toughest financial reform since the ones we created in the afterma...

Events continue to amp that -- affirm that our national economies are inextricably linked and just as turmoil can spread from own place to another safeguards to each other with protect all nations. i'm gratified we've made great progress towards enacting these safeguards here at home. because of the incredibly hard work of chairman dodd and chairman frank and the strong leadership of chairwoman lincoln and chairman peterson and the great efforts of the conferees and members of both parties who were up very late last night, we are poised to pass the toughest financial reform since the ones we c...