FOR ALL OF THOSE REASONS AND MORE,
IT NEEDS TO GO ACCORDING TO
REPUBLICANS.
SO THEY WILL LAUNCH THIS INVESTIGATION INTO HOW IT CAN
BE PARED BACK, YOU WILL SEE DONALD TRUMP EARLIER TODAY LAYING
OUT WHY THIS NEEDS TO HAPPEN, IN THE WAY HE TALKS ABOUT IT THERE
IS NO ATTEMPT TO HIDE THE PERSONAL INTEREST AND CORRUPTION
INHERENT IN HIS APPROACH AND YOU WILL SEE IT IN THIS VIDEO.
TO WHAT WE HAVE TO DO IN TERMS OF REGULATION, WE HAVE SOME
BANKERS HERE, THERE IS NO ONE BETTER TO TELL ME ABOUT DODD-FRANK, THE WE
EXPECT TO BECOMING A LOT OUT BECAUSE FRANKLY THERE ARE SO MANY
PEOPLE, FRIENDS OF MINE, THAT HAVE NICE BUSINESSES THAT CAN'T
BORROW MONEY BECAUSE THE BANKS JUST WON'T LET THEM BORROW BECAUSE
OF RULES AND REGULATIONS SO WE WILL BE TALKING ABOUT THAT.
GENERALLY WHEN THE SORT OF DEREGULATION GOES ON WE
UNDERSTAND THEY ARE DOING IT FOR THE DONORS AND PEOPLE INSIDE THE
BUBBLE BUT THEY ALWAYS PITCH IT AS BEING FOR THE NATIONAL GOOD,
BUT HE SAID I HAVE FRIENDS WHO HAVE BUSINESSES WHO CAN'T GET
MONEY FOR BANKS, THEY NEED TO CHANGE IT SO THEY CAN GET MONEY.
THERE IS AN INTERESTING DISCONNECT BETWEEN THE MESSAGING DONALD
TRUMP PUTS OUT AND THE MESSAGING OF SEAN SPICER, BECAUSE SEAN
SPICER, THE PRESS SECRETARY, HAD A PRESS CONFERENCE ABOUT THIS
AND I THINK HE DID A GOOD JOB IN MAKING IT SEEM LIKE THIS IS
FOR CONSUMERS, WE ARE LOOKING OUT FOR AVERAGE AMERICANS.
BUT DONALD TRUMP CAN'T HELP HIMSELF, BECAUSE HE'S NOT AS --
I DON'T KNOW, HE'S NOT AS GOOD AT HIDING WITH THE UNDERLYING ISSUES
ARE, OR UNDERLYING INDIVIDUALS WHO WILL BENEFIT FROM DEREGULATION.
HE IS LIKE I'M LOOKING OUT FOR THE BANKERS WELL SEAN SPICER I
THINK HAVE TO DO SOME CLEANUP AND DAMAGE CONTROL.
AND ALSO HE'S A WEALTHY NEW YORKER AND ON HIS LEFT THERE
WITH STEVE SCHWARTZMAN, HEAD OF THE BLACKSTONE GROUP, ONE OF THE RICHEST
MEN IN THE WORLD, WAS ALSO SOMEONE WHO IS REALLY CRITICAL OF
DODD-FRANK AND FINANCIAL REGULATION, WHEN ALL THIS STARTED UNDER
THE OBAMA ADMINISTRATION HE WAS CRITICAL.
AND IT MAKES IT DIFFICULT FOR THEM TO BORROW MONEY SO IT FORCES
THEM TO GO TO PLACES LIKE RUSSIA TO BORROW MONEY IN ORDER TO MAKE
THEIR BUILDINGS HAPPEN -- THAT'S WHAT A LOT OF PEOPLE THINK.
IT WAS SO DIFFICULT FOR TRUMP TO BORROW MONEY IN AMERICA
BECAUSE OF HIS HISTORY OF BANKRUPTCY, THIS IS SPECULATIVE,
THAT HE WENT TO RUSSIA, AND THAT IS WHY HE'S NOT SHOWING HIS TAXES.
WE REPORTED ON THAT.
HE ALWAYS TALKS ABOUT I HAVE FRIENDS HERE, HIS MUSLIM FRIENDS,
REMEMBER THAT?
I BUY THAT HE HAS BANKING FRIENDS THAT ARE MUSLIMS.
BUT THERE IS NEVER A SPECIFIC, WHERE HE SAYS STEVE
SCHWARTZMAN, ONE OF THE RICHEST MEN IN THE WORLD, HAS HAD TROUBLE
BORROWING MONEY, I DON'T BELIEVE THAT.
AND
WE KNOW THE MAKEUP OF HIS CABINET, WE HAVE THE RICHEST CABINET POSSIBLY
IN WORLD HISTORY FOR ANY GOVERNMENT, HE'S GOING TO PURSUE THEIR INTEREST.
THIS IS A GUY LABELED AS A POPULIST, WHO WILL DO WHAT IS NECESSARY
TO HELP OUT THE REGULAR PEOPLE.
OF COURSE NOT, HE WILL SURROUND HIMSELF BY THE WEALTHIEST
PEOPLE IN THE COUNTRY AND WORK TO ADVANCE THEIR INTERESTS.
YOU SAW IN THE BEGINNING OF THAT VIDEO A SPECIAL BIT OF IRONY,
HE'S TURNING TO JAMIE DIAMOND, THE BEST EQUIPPED PERSON TO
EXPLAIN BANKING --