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Kill or rob. >> they recognize the need for some regulations, some things like tragedy of the common flee rider problems do call for some regulation. the problem is when you take a progressive poll figures and teach them these words, they see external things everywhere. a lot of it has to do with their own incentives. you don't get more famous, actually everything is fine. you get more famous by passing bill with your name on it. >> john: let's back up. you are talking about externals things. >> pollution, my factory pollutes your lungs. >> john: many states it's reasonable against that? >> to...

160,000 pages of rules, some contradict each other. no one understands all of them and yet bureaucracy add more. thousands of new pages every month. regulations might be worth it if they make us safer but they don't. cliff assets has growing to a fund of $50 billion. so i assume you are smart but explain, you say the financial regulations meant to protect the poor investors that got hurt after the bubble burst do more harm than good? >> well, first, let's step back. i don't think zero regulation world is right. >> john: we all agree the constitution is good, you can't kill or rob. >> they reco...