now that are really feeling for you it is with way down former vice president's done
day for a libertarian party in two thousand feet
that a book also become a civil libertarian our exit is a revolution
we've got guns gambling in tax cuts
wayne lovingly interests
i've got i've got action that clarify it time that we have a lot a libertarian of the streets
and by %uh like some parts a libertarian a platform
that's %uh
i have my own gloves the stimulus package
%uh i still ahead of time i'm not sure once and she says she here
as for the saddest eyes sir
that would mean that you've got that economic issues 'cause i'm sure
that %uh you know the show that values economic blockade
but when it comes to you know what the weather civil rights personal freedom
i'm afraid of
i'm going to show you now want government out of your life my life my life but i think
the way
the particular that i would hope that that jessica would look like you
judge of a great that distrust the government just like i do
well i still have my issues what i so we don't trust the government have overall to do what's
right and you know look into i believe an oversight
but that's where our a difference is lying
and my flustered by that person level is not strictly just liberal
our policies
the absolute to start on this oversight issue because i think that's our biggest source
of this agreement
i you say in the article that i read of your is that %uh
we had
too much regulation was i see that we had too little regulation
when it comes to regulating the financial industry
that allowed it in
but them to take tremendous stress
what the public's money
hi well
i think you've got like that
you know i'm not saying the wall street was a greedy you've ever seen the court is in
a wall street what degree the wall street to leave
some of our financial problem but i don't think kids have gone to that
did that include up this issue then what happened after that with the guilty
we got involved
into trouble and they were involved with you do have assurances government that no matter
what the investigation
it could
right private industry
like that and make it
%uh late last summer the two issues here
one is the financial collapse
and others the fannie mae and freddie mac
the issue now why those separate
because the real cause of the financial mess
is that the enormous have the subject of on top of the mortgages
so it was that credit defaults lots
the c_e_o_'s a the leverage that's that the financial companies today and the fact that
the investment banks
first with the commercial banks
they're by endangering
everybody else is going to consumers money
so we have that problem was not a problem of
too much government regulation
i probably was too little government really surely you know it's interesting check you
try to identify with her friend if you believe that
some truth to that
then how do you rationalize the fact that you're here with a lot of talk about
it's number one what the biggest that you know a recipient of contributions have a company
that by a little overwhelmed
freddie mac
the brothers ideology
much of the money that brought that the republican and conservative
and the issue yes sure
the millions of dollars is not trillions of dollars
good question
the with the restrictions whatsoever that my but i would say that government
yes
i was on the way down here and for a vice president of a libertarian party two thousand
eight
wayne at some of those points aggregate on the show that we talked about how city group
was
funny a large for the inauguration house and company
but those are two different issues
i need an answer on the specific thing we're talking i think that you read happening is
you've got to begin to create a wall street all that about
jeff the private practice in the first place
back in nineteen seventy seven
it was put together a future because
the charge of that bill clinton
especially george bush went along
it is a different issue i want to get to that issue second only to have it isn't a but honesty
look for is a lead two thousand four what the allow the company's of the finest companies
to do is the leverage things
isn't this well to one meeting
they didn't see the dollar in the bank for every twelve dollars of that's the day
a lot of to go to thirty two
i don't know that one okay so in fact that the government
%uh would be better off
showing that oversight and a t_-shirt they were overlap you ought to minimize not that
i don't agree with that
you don't do a lot of courage a lot of tension she does sort of thing
well i'm going to happen in the first place you know on this tell you that right in this
regard i don't wait let's focus today because
the root of the problem is that the the wall street guys were great
the whole point of cab was this the greedy
i don't feel of course in review
well what they did do the incentives and disincentives the day
the question is
who sets the room
allows them to be greedy
or says you know what you cannot be greeted with the public money to i met a man running
the economy particularly the police you know governor i believe unlimited got it
the the truce possible
because committee ruled that make it possible for my daughter to continue i don't think
you should be no movement no law that no one supports that
all right but solving the problem here is still no laws you have to concede
it was too little oversight the governorship in
more involved the same
you are the risks that you cannot state
you know the ordinary people swatch that you cannot without a you know oversized the midterm
election
tension that in that fact it
in the end the president
i want to
good night from about one two billion
i
from the left and we clearly have government which is this amendment and the bullet people
i at the pentagon
have a good job that doesn't mean he says
let me explain why don't think that's the key because it's the first of all you're making
this a partisan thing i don't give a damn about right
and i don't give he you know didn't pay his taxes and
and i turned and so then the make the then they got an issue okay and they had a problem
and the reasons other reasons why don't fully trust that this is part of that
the same mind set on wall street for two so this is not a partisan thing
you asked me the question of
we would like us to do that
well we've got to have some lawmakers and in this case there's not the politicians it
is
people like the head of the s_e_c_
that you don't have an s_e_c_ because you don't trust government at all
then you'd have a situation where anybody can do it you know that i just want i wouldn't
want this kind of you that you know had only the electricity so you agreed with the government
should be involved in fact was not involved enough
they believe that this financial debacle
i agree that government had
some some reason and time
okay
and seven i've been in business every day to make sure that you haven't looked at it
and give it up
number
my that capitalism and usually wall street and that would be a normal reaction we don't
need another fortune that believe that's what's going to happen unique some business
you need to do something that would be more like
what you i guess you'd call it
sanction with and you know watching it doesn't work guess what
we're the greatest country in the world that and that socialist in with that
we're gonna wait how would you pay for
i_b_p_ on for the libertarian party in his book is because civil libertarian parents
it is a revolution with god
guns gambling in tax cuts
we'll put that broke up on the web site on the interest that time in our library section
so you can now return for itself
%uh weighing you tell in government to get out of the way and that we're doing everything
right in this press is doing things wrong
the press economy that and financial system can just blow off
or is this
that's because the government got out a way so let's go to the project a little less of
all this
well we do it
what they grew up with don't have any good at all with the kind of the been destroyed
yeah
no and the reason why that true have an ad and always will have the greatest economy
in the world to tinker with too much
try to imagine after the that that does that my economy nor way
we got their through
but what i would call moderation and sensible
regulation
now look i've on the cap was see you're arguing with people going to the theater i'm a diehard
tablets that i don't think that my out of the economy as it may the witness says i never
did thursday
well you what you called socialism is it different
question because
now you say all because you get a little bit more government call socially subject of socialite
that's what that's what we've got to do it right out not communism
what about the children thank you welcome for the entire industry
i have no some action in the senate is the way that's where you go over all is big brother
try to control all the industry
his big brother if you want to call it that term or referee or
saying here are the rules would which you should compete
go ahead and compete capitalism works
that's why we're the best the center r_e_i_t_ out of why we built this great
economy in the world has and what was adopted as the inventor but if you don't have wolves
did you or people will
of course the agree that is the nature of human
that's like i'm using that word in the first place
the in this case what we have lists of we go to fannie mae and freddie mac which was
you started with
think that that's what was in the
have them
now the primary problem in that
worries about that
so now the morning back to nineteen fifty seven with primary about that certainly go
to the big picture the package believe that if you're a poet but analysts say that 'cause
it sells for that
the fact that my opinion if he can in fact that in your opinion
by a little different than try to be polite about it
%uh in fact the private
that industry
what out much worse lows on everything we've done this on the show
we've had that
people bring us the facts are that is specifically
the community reinvestment act
authorized
%uh a institutions that
the day in fact the community reinvestment act
pat all as a percentage
did much better than the regular
private industry
okay so that's not true to say that they need and freddie mac in that
the ninety seven seven law
was it what the root of the problem is was the rule of thumb was
that people could
the conditions
an old and fees
all for of mortgages they've never planned to keep in the first place
does the rules are set up in a way
they could take the mortgage and give it to somebody else
carrie none of the rest
and make the commission's the first place i understand that not having any them open
up and the fact that the government that need guaranteed
mortgages i don't like sitting there fighting that which allowed them to take on the ferry
ride if the government hadn't got that they never would take you know kind of live let's
get the government out of the live by private government
stratus cutting back government
i think the federal reserve government
yes
and the sexual the trimming lot with killed
and i think you know that don't you
well wall street
that's all been there
that's the way it would lead to less significant agreement in fact i think the idea of this
clause in public policy private institutions like
fannie mae and freddie mac don't make any sense we need to have clear rules
are they part of it are the public
how much all women about their loans
now what kind of risk in the cake and eat and the
nazi of that involves will make it
so let me throw one last that question at as well making
that in that regard for you
the government has said
if you are going to be dead
give out a mortgage
that you cannot for use as an example
you can i give that worries someone else
because then you have absolutely no incentive to make sure that you've given
a legitimate more
yeah reason i'm not saying that's right and that he then we'll come back with a news update
and i'm not going to give you absolute yes it absolutely no the only thing i've tried
to tell you that the reason i'm a fiscal conservative
okay
several businesses and i interviewed that government had done the jake if that's true
they'd be forced by cutting world to please people for life
first it is that they have to be you know have first to give the cut the benefits
that's enough
to be honest with you the words of wisdom i've got start a business about going to give
up all the
lord to them
every story no question and and i publicly traded company
and i can tell you from agree with that overreaction work unless we to withdraw question even then
absolutely
well you know reaction
yes
and then that got a wall street you can do your job see you anymore
more put a lot of regulation
thank you
that company
so
liberals of that come out are the dominant friend
now they were think he will
you've got it
sure
so that didn't the regulation
yeah come out and i'll die
the lie detector about buying well politically learn the rules of the world i don't agree
with that
that's where the police
i'd like
that's our i hear you final thing on this and the reason i think up a fissure within
the first was article that i read of your sister
this is the i get the one-sided my dad's a small business owner
hi he discuss some of the twenty eight thousand dollar bill
for something that is former the the former owner of the building
he has a lot to do with it and so will it doesn't make any sense
and that really hurts so i guess this sense
that that that senseless regulation or over-regulation as a prop
but would you come out and say
that the government
is the problem
when the government getting involved
is a prom i think that you're putting out a misleading statement
as the issue isn't whether the government should be involved at all or should be completely
involved taking over everything issues where do you draw the line where you have that balance
and in this
he's are the reason we have the financial meltdown is because the government was unbalanced
it was way to the right
pulled out completely
that led to this the bottle
so can we get agreement on that
the agreement that government can do the job that issue here that he heard a loud the governor
will have it do the job with me that the bureaucrats okay
no this
marcos that that
the job in the private sector
i don't trust them to oversee that well we put a huge that right
well what yet have any rules the disease and i have been aided by democrats and i don't
trust them
i had disagreed with with that
well the only politically but i believe that if you talk about the welfare
he doesn't talk about the wall street
although is that right
c_b_s_ conservatives in the republican party
right
his wrist and you're out there
either one of them
i suppose that point of agreement to end on way down route was a bias does that stand
for the libertarians and two dozen eight and his book is the conscious of a libertarian
in power this is a revolution we've got guns gambling in tax cuts
we thank you so much for joining us on the line