>> we have to elect politicians who say you have to have this much and they are smart enough to know. >> we have a lot of people who know how the financial system works and how to regulate these things effectively. if you are a real friend of capitalism the best thing is to bring the free market principles to bear on the financial sector. >> no privileges and no bailouts. if you fail you go down. >> transparently, free flow of information, competition and the freedom -- >> and bankruptcy. >> and those principles are not being brought to bear on the financial system. we need rules that allow that transparency and competition to happen. they operate in essence like a monopoly and get tax subsidies from the united states people and the lower interest rates that they pay on the money that they borrow from us. >> let's go back to the prohe tests. what good do the presidential >> we we started a bank we