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And i called her, you know, i don t have a very loud voice and she couldn t hear me very well. she said who s this, and i said i m the majority leader of the sept. i said i want you to come visit me in washington. so she came down, brought her daughter with her. told her i want to put her on my debt commission, and she said i ll take it, and she was immediately confirmed as a chair of that board and did such a good job. she was good. so good that we did the don frank wall street reform bill and she came up an i.d. to have a consumer affairs department. right. and we thought that would be a good spot for her. president obama wanted to put her there. and he did to set the thing up. but we couldn t get her the job because some republicans and frankly a couple of democrats opposed her. why did they oppose her? ....
Other side of the aisle to do just that. so a bit of a fact check here, the recovery act, the economic stimulus law that blunted the recession, only passed after obama accepted the demand from three senate republicans to reduce the size of the package by about $100 billion, mostly by pairing back spending proposals. the dodd/frank wall street reform bill also squeaked through the senate with three republican votes. obama sealed the deal after making a key concession to newly elected massachusetts republicans senator scott brown scrapping an outright ban on commercial banks investing in high risk funds in favor of allowing limited investments i m sorry, i m reading, one more, and second term obama withstood the civil libertarian outcry that followed the edward snowden leaks and shaped a bipartisan surveillance reform law. hallie, that s just obviously a couple examples. i m sure people will find some more. but there is an effort by this administration to paint this president as a deal ....
Confirmed director. cordray was not the first person president obama wanted to head the new bureau created by the dodd/frank wall street reform bill. the original plan was to nominate, well, elizabeth warren, herself, to head the bureau. since the entire idea was hers to begin with. this is an idea i ve worked on for a long time, and i can tell you why in five blunt words. the credit market is broken. the broken credit market caused the current crisis, is perpetuating the crisis, and will cause more crises in the future. unless we fix it. it was not to be, however. thanks largely to a republican temper tantrum and elizabeth warren s decision to pursue another line of work. joining me now to discuss today s news, as well as her proposal for new ways to rein in wall street is senator elizabeth warren, democrat from massachusetts, and senator, first i want to have you explain to me the following. richard cordray has been running this bureau. it s been up for two years since ....
President obama wanted to head the new bureau created by the dodd/frank wall street reform bill. the original plan was to nominate, well, elizabeth warren, herself, to head the bureau. since the entire idea was hers to begin with. this is an idea i ve worked on for a long time, and i can tell you why in five blunt words. the credit market is broken. the broken credit market caused the current crisis, is perpetuating the crisis, and will cause more crises in the future. unless we fix it. it was not to be, however. thanks largely to a republican temper tantrum and elizabeth warren s decision to pursue another line of work. joining me now to discuss today s news, as well as her proposal for new ways to rein in wall street is senator elizabeth warren, democrat from massachusetts, and senator, first i want to have you explain to me the following. richard cordray has been running this bureau. it s been up for two years since dodd/frank was passed. tomorrow he s going to go run the bureau ....
To be getting two weeks from dedefaulti defaulting on its obligations. they ve got to get this done. certainly for the business community, it would be just devastating for our country. the warning from the ratings agency which will be what will happen to virginia, which would ultimately happen to all of us, turned bob mcdonald right around. go ahead and default, what do i care? unless you can maybe get something out of it. to saying seriously, are you going to default? are you crazy to even think about it. after one ratings agency changed his mind this week, another ratings agency made a request to please address as many freshmen republicans as possible today. did they give those freshmen republican members of congress enough of a peak into the abyss to turn them around too? joining us now is democratic congressman barney frank of massachusetts. the ranking member of the house financial services committee, and co-sponsor of course of the dodd frank wall street reform bill that passed ....