Vocal Rule News Today : Breaking News, Live Updates & Top Stories | Vimarsana

And you're starting to see those organizations get strangled out of business and some of the bigger banks have gotten bigger and bigger. it's a matter of tweaking it. in the last eight years, there's been a divide and people have been so angry, and the funny thing is, those hard core donald trump supporters, one the reasons they're angry is because they lost their home or small business, but repealing dodd frank isn't going to open the doors again. >> one argument that you get, from the administration, from the repeal, from the overhaul of the law, they say, look, if you repeal the law, the ba...

And including consumers and exotic derivative transactions and other things people didn't understand. that is to say it is not something that would have been prevented by this proposal. >> those are the activities the banks want to pursue. that is different than holding my capital or my neighbor's capital or the savings that we want to invest in a bank. that is not putting them at risk. what americans know today is that they did not get a bail out. so they see wall street with record profits going about their business, continuing the same transactions. and what they see is their kid may not be...

To fail are much, much bigger now than they were. nothing was done to get rid of what i called naked credit default swaps that was just flat out gambling by some of the largest financial institutions. that puts the american taxpayers at risk. there is a lot yet to be done and the administration is going through writing rules and some of these are delayed. i still think we're far short of the solution that is necessary. >> and a lot of people have told me that the cfpb was probably the best single thing that was in dodd/frank but the rest of dodd/frank we talk about the delays. it was 62% of th...

Invest our money in really safe things. they invested it in risky, risky trades. there is a part of dodd-frank called the vocal rule that is about this exact same thing. saying that banks that enjoy fdic insurance, they are ton make risky bets and are not what to do proprietary trade. this rule has yet to be finalized. we have been waiting for a very long time. it is supposed to be done at the end of this quarter but it needs to be air tight. because if this rule is not strong and is not done in a complete way, we are going to see more things like this. where banks are taking our money and sla...

Worried about at the moment is that washington is going to constrain their business so much that it's going to be harder for them to make money. that's the concern. your friend elizabeth warren will have her way. >> ok. so let me ask a question on the other side of that. because obviously doesn't this make one wonder what other risky bets are happening out there, beyond this? that's number one. and number two, reading over the weekend that had some facets of dodd frank actually been in place instead of put off as pending that these bets would not have happened and this money would not have bee...