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What is your view about the level of federal regulation of the economy right now? is there too much? and in your case, mr. president, should there be more. beginning with you, this is not a new two-minute segment. we'll go for a few minutes and then go to health care. >> regulation is essential. you can't have a free market work if you don't have regulation. as a business person, i had to have -- i needed to know the regulations. i needed them there. you couldn't have people opening up banks in their garage and making loans. you have to have regulations so that you can have an economy work. ev...

Making loans. you have to have regulations so that you can have an economy work. every free economy has a good regulation. at the same time, regulation can become excessive. >> is it successful now? >> in some places, yes. it could become out of date. what's happening with some of the legislation passed during the president's tern. you've seen regulation become excessive and it's hurt the economy. dot frank was passed and it includes provisions that have it delths banks too big to fail. this is the biggest kiss that's been given to new york banks i've ever seen. this is an enormous boon for t ...