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are more easily challenge john mcwethy
uh... on whether the bottles of our economy a really strong
alicia
when you have an attack obviously for saying the fundamentals of this economy
are different than the fundamentals are strong government handout this morning
uh... but you said that you're talking about the workers but obviously shell
gas prices are on housing starts away down of wall street's melting down their
what whatever workers one fundamentals you're talking about
i was talking about the fundamentals of america which is
product to be there innovation fared and they're incredible performance for
many many years and what i was saying is and it's clear
if you look at my remarks and that is that wall street is the tradeoffs
they've broken the social contract
between capitalism than the average citizen and worker and the workers are
paying a very heavy price for a lot of them are not only merging on stays with
some of *** left with packages of hundred million dollars yourself sir
this is that this is the services of resulted access and greed and corruption
and that is a relief
what there is going
in americans today and we gotta fix it and we gotta update our regulatory
system we have to i think every nine eleven commission find out what went
wrong anticipating to fix what's gonna happen in the future so there's never
ever happens again dan is president identity at it'll never happen again
you know the next though the last time congress then the president tried to
reform wall street's sarbanes-oxley
he talked a lot of people will tell you that
line of business leave new york and go over to the london market
how different the needle so you protect american consumers while keeping the
wall street in our financial sector very competitive in the global economy
which of the first thing you should address this issue of the alphabet soup
of regulatory agencies is designed for the nineteen thirties now we have
instantaneous
uh... financial system this global in nature and it's not compartmentalize the
look at the stock exchange today is the way
even twenty or thirty years ago so you've got to fix that dad and also very
frankly people were asleep at the switch no i don't think there's any doubt about
that
really
john who was asleep at the switch
was that the democrats
on the way to make you guys aren't right for the last eight years since friday
and how many times as you lobby and bush administrations that they listed what we
need more is regulation to make sure
but these wall street lights
don't break the social contract as you just said and that clip
all that's right here can see the story and that today and it says
zero you never lobbied for that
in fact he lobbied for the exact opposite
usage and what we need more this economies deregulation take all the
limiting things that are bother and his taken on the
ticket dress has a wife
so john mccain one income at the i_r_s_ for change and that you're all of course
uh...
unanimity that you know the exact opposite
and he says
he's wall street high-speed trains
how gluten free trade and
your patent that solitaire
you took that money can you do their bidding
and i'd rather have a good trade ours
please
and what the social contract break that down for a second
noise at me
that means
that cadet he he did his mind don't wall street should have been good guys by
their nature
i think that the social cut the and understanding
they were supposed to make money but not through this thing up
but that's not the way what wall street and finance works
that's not the way capitalism works we don't make check on something
it's getting they're going to try to make as much money as possible in the
short term
edition of the stock market works
enzo about the john mccain doesn't
he thinks although they should have begun guys on their own which of course
he does it you know how this was going to work i think
i wasn't already about the economy which you know i might be
maybe he really woke up in the morning was like can't believe the wall street
guys were great
they try to make as much money as possible
what kinda system is that somebody i wanna answers on johnny's capitalism own
really
you know that
while we don't do spare spot
i think this is a calm statement
the whole time so i figured wall street and operates a social contract
you regulate them whoever regulate them
when you put reasonable regulations on msn they for example as i've set up a
review shows
if you could make alone you all the loan you can sell to other people
allies you'll have the wrong century senate
the about as bad alone as possible charger interest rates on a charger fees
on it
and then move it along
we know what's this for my back is killing
took obvious manipulation of the system
and the guy who took off all those regulations for was phil gramm the
entire republican party and john mccain
so he's going to come here
and tell us
at all by the way we gotta fix this thing
thank you
so well you're saying something you are welcome
at the student and i went back
by and islands excuse for what he thinks the fundamentals of the economy are
strong said what what what
hyena
atif are some of the workers
the workers distraught go denigrate the workers
drug denigrate the word
down and thought you were talking about the workers
is over i was doing ways of economies in trouble reviews gate using code words
for
i don't think that workers of america are working hard enough
it's laughable
nobody in their right mind i think the republicans believe that
now you say you guys stood up there
economy biting off all reasonable regulations for these guys who ran a
month and then head into the ground
now what does that do the workers
don't denigrate the workers might it's always excuse they use olesco terrible
adore denigrated troops whenever something about the truth i sent you
screwed up a rap although denigrated troops it's a classic republics