Republicans Help Banker Buddies


now the republicans claimed they have a
bright new idea heading into a swamp they want to get rid of the balk or rule
which is part of that banking reform which is the banks economic do
proprietary trading i take basically deposit or money and
gamble with it which i’ll explain a little bit why they want a guy where
they said what the law right away we are proposing their pro-growth let one of
the banks in our ways and well also explained that
in a minute so now first before we can judge whether
they are on the level or not been actually want to regulate the banks and
keep them in check let’s review the history of the
republican on this issue first of all after the bailouts that the republican
or a lead the banks and all out of control banks that we just had the
bailout or do they want a legal rules exactly like they were and not regulate
them and let him keep a mattress so we have to keep bailing them out well
you be the judge because uh… only three senate republicans
voted for the dot frank reform bill and zero house republicans did not vendor now we can set up of course they consumer financial protection
europe to protect consumers from the banks now where the republican favor that
basically that agencies so much they say will refuse to not confirmed anyone did obama point so that because
we do not want to see was protected under any circumstances from the banks and our bodies okay number three they wanna do you find the
commodity futures trading commission and the securities and exchange
commission they want to give them less money so they cannot regulate the banks okay so gee i wonder which way the republican
rolling on this so let’s go to what the ball caroll does and you tell me whether you think it
makes sense to kill it the vocal rule bans proprietary trading risky security that’s the best place for
their all accounts rather for their clients it’s designed a
show the government parts of banks in georgia borrowing money at lower rates from the
federal reserve guaranteeing their depositors against
losses do not subsidize receipts pets speculation in other words don’t gamble with our god damn money that’s the positive money don’t gamble
with it and one of the republican on a new go ahead and campbell with it as long as
you give us a kind of the proceeds just let a little bit for our donations for our
campaigns the guy proposing this is representative john campbell of from
california what does john campbell won a new and
places in our notes okay because i’m a new stringent uh… apart at regulation on the banks
is well just in a different way i’m gonna break up the big banks if they get
to bed where they take too much risk passive really all care while all the
rest ’cause from time to time you’ll have
truck grassley rdate camp no walter jones actually propose
something because they got mad at the banks are
also donating to democrats are walter jones an honest
guy is crazy conservative but he’s an honest
guy right so it’ll happen like one percent of the time so i think it was a
regulation lee says this complicated is that a couple
different provisions but i’ll give you one is an example he says that any uh… the banks would
be forced to shut down if their debt against default reaches one percent
adept s_l_s complicate but it’s really actually quite simple never happens when women with the bankruptcy and
clothes and shot him worldwide financial collapse they did not reach one percent in other words it’s a standard that will
never be mad unless all the almost all the banks have already gone bankrupt in other words it’s uh… trackball squall with
subplots eccentric you know when john campbell was use
accordion you know that he bought it for the
bailout voted for a and then morning guest
regulation of the banks in other words doing our money but don’t regulate them at all and the one thing he insisted was in the
bailout prevention was an exemption for car dealerships of course from any all oversight when he came eventually to the consumer
financial protection bureau so bailouts yes regulation no you are protected simmers not make use of car dealerships this class act now wants to fake all i
have your best interests in mind i’ll try to protect by enterprise i’ll try to
protect you this lengthy gambling with your money i don’t think so john look wentworth
thing on that if you’re a republican and you think these john campbell on
these guys have your best interest in mind and then the generous and call you didnt okay ’cause that’s literally what you
are your ignorant of their real intent they get money from these banks and then
they knew that chilean favors like this one why would you want the banks gambling
with your deposit amount why would you allow them to new
proprietary trading their own with funds that they get partly because
of government guarantee i would you want that that doesn’t help you are wrong john campbell wants it because he gets a
slice of pie and campaign donations their plane you for all full if you’re a conservative a new book
for these republicans advance the bailouts don’t know if a man about these guys