>> Stephen: HEY, EVERYBODY, WELCOME BACK TO THE SHOW.
FOLKS. LADIES AND GENTLEMEN,
YOU KNOW MY NEXT GUEST AND HER WHITE BOARD
FROM ASKING THE TOUGH QUESTIONS AT CONGRESSIONAL HEARINGS.
PLEASE WELCOME BACK TO "THE LATE SHOW,"
CONGRESSWOMAN KATIE PORTER. ♪ ♪
[CHEERS AND APPLAUSE] NICE TO SEE YOU AGAIN.
I HAVE INTERVIEWED YOU BEFORE BUT NEVER IN PERSON.
OVER THE ZOOM. YESTERDAY WE WERE TALKING ABOUT
JUSTICE CLARENCE THOMAS AND THE LATEST REVELATIONS ABOUT HIS
ENJOYMENT OF THE HALF-MILLION DOLLAR TRIPS TO THE SOUTH SEAS
AND THE YACHT LIFE. AS ONE WHO TALKS ABOUT ELITISM
IN OUR GOVERNMENT, DO YOU HAVE ANYTHING TO SAY ABOUT HIS
PENCHANT FOR FINE CIGARS AND MOUNTAIN RETREATS?
>> Congresswoman Porter: I THINK THE HYPOCRISY IS RICH.
HE TALKS ABOUT ENJOYING THE RV LIFESTYLE AND I WOULD PRESUME
THAT HE DRIVES HIS RV TO THE PRIVATE AIRPORT WHERE HE GETS ON
THE PRIVATE JET TO GO TO THE PRIVATE ISLAND.
I THAT IT'S EVEN A PRIVATE RV. >> Stephen: WHAT IS THE
PRIVATE JET BUT THE RV OF THE SKIES?
>> Congresswoman Porter: IT IS.
HE IS LIVING THAT LIFESTYLE AND MEANWHILE I'M IN A MINIVAN.
>> Stephen: YES, WE'LL GET TO THAT JUST A MOMENT.
THE NAME OF YOUR BOOK IS CALLED "I SWEAR: POLITICS IS MESSIER
THAN MY MINIVAN." [CHEERS AND APPLAUSE]
YOU HAVE SERVED IN THE HOUSE SINCE 2019 AND NOW YOU'VE
ANNOUNCE THAT YOU'RE RUNNING FOR THE SENATE.
[CHEERS AND APPLAUSE] WHY WOULD YOU WANT TO BE A
SENATOR INSTEAD OF A CONGRESSPERSON?
YOU DON'T GET TO RAISE MONEY CONSTANTLY AND YOU DON'T GET TO
RUN FOR OFFICE EVERY TWO YEARS. >> Congresswoman Porter: I
THINK RUNNING FOR OFFICE IS THE MOST FUN PART OF THE JOB THAT
WAS A SURPRISE TO ME. I WENT TO WASHINGTON, I WANTED
TO BE A POLICY NERD AND I THOUGHT I WOULD LOVE WASHINGTON
AND I SAY IN THE BOOK OF THIS IS TRUE, WASHINGTON, D.C., IS WHERE
TIME GOES TO GET WASTED. THE REALLY VALUABLE WORK I DO IS
THE CAMPAIGNING, LISTENING TO PEOPLE, KNOCKING ON DOORS,
TOWN HALLS, ALL THAT STUFF, KICKISSING BABIES AND PUPPIES AD
THAT'S PURE JOY IN WASHINGTON, D.C., IS THE PRICE
YOU PAY FOR THE FUN OF CAMPAIGNING.
THE OTHERS SAY ABOUT WHY RUNNING FOR THE SENATE, IN THE SENATE DO
YOU TO SERVE HIM TWICE AS MANY COMMITTEES.
YOU GET TWICE AS MANY COMMITTEES AND THAT'S DOUBLE ROASTED
COFFEE. DOUBLE ROASTED WHITE BOARDS.
THINK ABOUT THE FORCE MULTIPLIER.
>> Stephen: DO YOU EVER FEEL INSULTED THAT NO ONE IS TRYING
TO BRIBE YOU? >> Congresswoman Porter: YES,
YES. THINK HOW FUN IT WOULD BE TO
TELL THEM OFF. BUT THAT NEVER HAPPENS TO ME.
WHEN I FIRST GOT TO WASHINGTON I HAD SOMEBODY, LOBBYIST SAID OH,
YOU'RE ONE OF THOSE. >> Stephen: WHAT DID THAT
MEAN? COULD YOU I DON'T KNOW.
I THOUGHT ATTRACTIVE, SINGLE WOMAN.
HE SAID NO, NO, SOMEONE WHO DOESN'T TAKE CORPORATE MONEY AND
I DON'T TAKE LOBBYIST MONEY EITHER.
HE SAID DON'T WORRY, WE'LL BREAK YOU.
AND HE HAS NOT. HE HAS NOT.
BUT THAT WAS A POWERFUL LESSON. >> Stephen: YOUR KNOWLEDGE OF
CEOs COMES BEFORE YOU WERE IN CONGRESS, YOU WORKED IN BANKING
REGULATION. LET'S TALK ABOUT SILICON VALLEY
BANK. DO YOU SEE THAT AS A FAILURE OF
REGULATION? A, WHAT SHOULD THE GOVERNMENT BE
DOING? AND DO PEOPLE SEE THAT COMING?
>> Congresswoman Porter: I THINK IT IS A FAILURE OF
REGULATION IN THE SENSE WE MIGHT'VE BEEN ABLE TO PREVENT IT
WITH BETTER REGULATION BUT PART OF THE GOAL WITH REGULATION OF
BANK FAILURES IS TO HAVE THEM FAIL AS LEAST BADLY AS POSSIBLE.
IT'S LIKE A STUDENT. THE DIFFERENCE BETWEEN A D- IN
AN F IN WHAT WE WERE TRYING TO DO WITH BANKING REGULATIONS IS
WHEN BANKS GET INTO TROUBLE TO TRY TO MAKE SURE THEY FAIL IN A
WAY THAT DOES THE LEAST DAMAGE. WE PUT SOME GOOD REGULATIONS AND
PLACE AFTER DODD-FRANK AND THE FINANCIAL CRISIS.
DECIDE TO ROLL THOSE BACK AND THAT WAS THE TRUMP WHITE HOUSE,
TRUMP CONGRESS. TO BE CLEAR ABOUT 45 DEMOCRATS
JOINED IN DEREGULATING BANKS THE EXACT SIZE OF SILICON VALLEY
BANK. >> Stephen: MARTY FRANK
MIGHT'VE BEEN ONE OF THOSE PEOPLE.
DOES THAT SURPRISE YOU? >> Congresswoman Porter:
PEOPLE GET TALKED INTO THINGS BY LOBBYISTS.
THEY GET TOLD WE DON'T REALLY NEED THIS REGULATION.
LET ME BE CLEAR, THE WHOLE POINT OF BANKING REGULATION AS YOU
HOPE YOU DON'T NEED IT. I WILL TELL YOU THIS, WHEN IT'S
YOUR MONEY IN THE BANK, ANY MONEY, ANY BANK WHERE I HAVE MY
MONEY IS A BANK THAT IS TOO BIG TO FAIL AND I THINK MOST
AMERICANS WOULD FEEL THE SAME WAY.
>> Stephen: LET'S GET BACK TO THE BOOK."I SWEAR: POLITICS IS R
THAN MY MINIVAN." IT DETAILS YOUR LIFE IN CONGRESS
AS A SINGLE MOM. YOU SAY IT'S A BIT
CONTROVERSIAL. WHAT'S CONTROVERSIAL?
>> Congresswoman Porter: THERE IS THIS EFFORT AND POLITICS TO
TRY TO PRETEND THAT CONGRESS IS GLAMOROUS AND WE ARE POWERFUL
AND IT'S ALL THIS REALLY WONDERFUL, AMAZING THINGS IN THE
TRUTH IS IT IS LIKE YOU'RE HOT. YOU'RE LATE.
YOU'RE SWEATY. DON'T KNOW WHAT'S GOING ON.
YOU'RE FLYING BACK AND FORTH AND I THINK WE SHOULD BE MORE HONEST
WITH THE AMERICAN PEOPLE. CONGRESS IS A MESS AND THAT'S
BECAUSE DEMOCRACIES KIND OF SUPPOSED TO BE MESSY.
THAT'S OKAY BUT WHAT'S NOT OKAY IS LYING TO THE AMERICAN PEOPLE
ABOUT IT AND PRETENDING THAT IT'S ALL EASY AND CUT AND DRY
BECAUSE THE TRUTH IS, IT'S HARD. IT'S HARD TO GO TO WORK EVERY
DAY WITH MARJORIE TAYLOR GREENE AS A COLLEAGUE.
[CHEERS AND APPLAUSE] I MEAN, MOST PEOPLE WOULD JUST
FIND A DIFFERENT CUBICLE, DIFFERENT JOB.
IT IS HARD TO COMMUTE 3,000 MILES TO YOUR JOB.
IT'S HARD TO WORK IN AN INDUSTRY --
BEFORE I WAS A POLITICIAN, I WAS A PROFESSOR AND I ACTUALLY USED
TO BE RESPECTED AND MY JOB. ONE OF THE THINGS THE BOOK TRIES
TO GRAPPLE WITH IS THE LONG-STANDING --
CONGRESS HAS ABOUT THE SAME POPULARITY AS THE AMERICAN
COCKROACH. I THINK WE SHOULD THINK ABOUT,
WHY IS THAT? WHY DON'T PEOPLE LIKE US?
WHY DO PEOPLE TRUST US? WE ARE NOT STRAIGHT WITH THEM
ABOUT WHAT IT'S REALLY LIKE, WHAT THE CHALLENGES ARE AND
ABOUT WHAT WE CAN DO ABOUT IT. >> Stephen: A COUPLE PEOPLE
THAT YOU ARE RUNNING UP AGAINST I HAVE ALSO INTERVIEWED.
ADAM SCHIFF, BARBARA LEE. DO YOU WANT TO SMACK THEM AROUND
RIGHT NOW? >> Congresswoman Porter:
ABSOLUTELY NOT. THE SENATE RACE HAS A POTENTIAL
TO BE REALLY GOOD FOR CALIFORNIA AND THE COUNTRY.
IF WE DO THIS RIGHT, BARBARA AND ADAM AND I WILL HELP TURN OUT
VOTERS ALL AROUND THE COUNTRY AND HELP ENERGIZE PEOPLE TO
UNDERSTAND WHY IT'S SO IMPORTANT THEY VOTE.
THERE IS NO PATH TO A DURABLE MAJORITY FOR CONGRESS THAT DOES
NOT RUN THROUGH CALIFORNIA. I AM GOING TO RUN THE SENATE
RACE IN A WAY THAT NOT ONLY SENDS ME TO THE SENATE BUT SENDS
DEMOCRATS INTO THE MAJORITY FOR YEARS TO COME.
[CHEERS AND APPLAUSE] >> Stephen: THAT WOULD BE
CERTAINLY INTERESTING. THAT WOULD BE AN INTERESTING
CHANGE OF PACE. I KNOW THAT THE REPUBLICAN PARTY
HAS MANY FAILINGS, BUT ALL PEOPLE ARE PEOPLE.
WE ARE ALL JUST HUMANS. WHERE DOES THE DEMOCRATIC PARTY
FALL DOWN ON THE JOB? >> Congresswoman Porter: FOR
ME THE FACT WE DIDN'T PASS A CONGRESSIONAL BAN ON STOCK
TRADING WHEN DEMOCRATS WERE IN POWER TELLS YOU SOMETHING ABOUT
JUST WHO HAS AN INVESTMENT PORTFOLIO AND WHO IS TRAINING
STOCK. DEMOCRATS AND REPUBLICANS WHO
DON'T WANT TO GIVE UP THAT BIT OF POWER TO EARN THE RESPECT AND
TRUST OF THE AMERICAN PEOPLE AND I THINK WE SHOULD CALL OURSELVES
OUT, HOLD OURSELVES ACCOUNTABLE AS DEMOCRATS FOR THAT.
>> Stephen: CONGRESSWOMAN, THANK YOU SO MUCH FOR BEING HE
HERE. HER NEW MEMOIR, "I SWEAR:
POLITICS IS MESSIER THAN MY MINIVAN," IS OUT NW.
REPRESENTATIVE KATIE PORTER, EVERYBODY!
WE'LL BE RIGHT BACK.