Was 22 of our gdp, now it is not much more than 10. Financial services has grown to 20 of our gdp from much less than that three decades ago. He said share it, we cant pick winners and losers. I said im not picking which manufacturer or which industry, i am saying we have picked winners and losers in this country for some time, and we picked Financial Services to be the winner, and their middleclass and workingclass and poor people at manufacturing to be the loser. It is time that we refocus that, if you will. [applause] from cs remarks as wages decline, we borrow more. Not just to enhance but maintain a standard of living. Wall street gets bigger and makes more fees. Caps on emphasis on one sector takes wealth away from other parts of the economy. That is why in 2010, during dodd frank, i teamed up with one of my favorite people i serve in the senate with served in the senate with the amendment on the floor got 33 votes. My math tells me that is well less than 51. 33 votes, which was a start. Since then, times have changed. The federal reserves top regulator endorsed this approach, so has george will. Everything i agree with george will about his baseball. Peggy noonan has endorsed it, tom huntsman, even the former chair of citibanks andy wyle supports this. Second, i teamed up with a member of the senate was about as conservative as they come, david fitter from louisiana, to and too big to fail once and for all. Two end too big to fail once and for all. Even as the economist on this stage no, during the depression, banks had more capital, that is what helped so many of them survive. If youre back with 500 billion in assets, there are six of those in the united states. If you if your bank has five or 10 losses, you are not underwater, you dont need a bailout, you have that 15 reserves. It prevents excessive leverage. The incentives are always for the bankers on wall street to take more risk. More risk they take the more money they make. When the sun is shining. When it is not shining, the risk they take means we are on the hook to bail them out. We cant have a Financial System that works that way anymore. All street has had too much influence in washington. Our legislation, both with ted kaufman on the amendment and senator vitter on the bill that has not passed. What we have seen progressives like you, populist like you are speaking out against it. The gao says the funding advantages of the six largest banks is somewhere in the neighborhood of one percent. If you go out and part money, youre paying close to one percent more for that money than the six largest banks. Why . Because you are a risk. The charger more because they dont know if you will pay back. The big banks charge less interest, low interest because they know even if they fall him of those big banks will be bailed out. That is why ending too big to fail fundamentally is so important, so these large banks that get government subsidies, these large banks will not continue to grow larger. If theyre getting government subsidies, they can borrow money more cheaply than other banks and individuals and businesses. Theyre only going to grow larger because of that competitive advantage. That is why this consensus is building. Always too slow for us to tear to change a system like you and i do. We are seeing regulators, the fdic and the federal reserve, always have been too biased towards the largest wall street banks. They have begun to change. Again, not to the degree that we want, but they finalized a new higher percentage leverage ratio, in this case the eight largest banks, 50 higher than existing law. That happened because of this debate and that legislation and because of your activism, because you speak out on issues that matter. It speaks a lot, i think, about what raising the public debate means here, and makes such a difference. Let me illustrate with a story. About the impact that you and your mothers and fathers and grandmothers and grandfathers have made over the last several decades. I wear a pin on my lapel. It is a depiction of a canary in a bird cage. You know the story about the canary in the minds, the canary with very small lung capacity dies from lack of oxygen or toxic gas, the mine worker had no government to protect them, he had no union Strong Enough to protect him, so look back a hundred years ago when they took the canary in the minds 120 years ago. In the mines. Today, the child born, my daughter just had her second child, a child born in the country today has a Life Expectancy about three decades longer than a hundred years ago. Why is that . It is not just because of hightech medicine, and not just because of cholesterol drugs or heart transplants, it is about what progressives have fought for in this country for these 100 years. Take them off, civil rights, safe drinking water, clean air, seatbelts, airbags, protection for the disabled, womens rights, prohibition on child labor, workers compensation, medicare, medicaid, all the things that you and your parents and grandparents generations have fought for. Congress doesnt do these things. State legislatures dont enact protection for workers because we are altruistic, we do these things because of who you elect and who you put pressure on. This progress through the last hundred years, and building a more progressive country is all about the pressure you put from your labor union, Child Advocacy groups, people in the ethnic organizations, people in their religious institutions and church halls putting pressure on congress on the legislatures on mayors, governors, president s to do things better. That is your role, that is the role we always have. Emerson talked about history as a fight between innovators and conservators. Conservators are there to protect status quo and privilege and property. They want to move the country forward. There will always be that pressure. The conservatories are more likely to win because they have so much privilege and money and power already on their side. We win because we appeal to the public and because of the passion that so many of you have for these progressive issues. A corporate lobbyist called the brown fitter bill and a number of these issues radical ideas. I understand that is where the think. Another corporate lobbyist after the present signed dodd frank, the day he signed it he said now it is halftime. In other words, this Bank Lobbyist said were going to the agencies and slow these reforms down. It is not a radical idea that banks no matter their size compete on a level playing field. It is not a radical idea to ensure the taxpayers that taxpayers are not punished by two big to fail. Our mission is to fight that and take that fight on. It is not going to end tomorrow or next year, like everything in the progressive movement, it is a continued battle. We take two steps forward and one back heard we take three steps forward and one back. We move forward and look what we have all done in this country. I will close with this story. An International Bank called barings was destroyed by fraud committed by one of their traders. There were no profits, just big losses. This trader named nick leeson managed to conceal until the firm collapsed. Here is what he wrote. Luckily, for my fraud, there were too many chiefs who would chat about it at arms length but never go further. They never dared to ask me any questions, since they were afraid of looking stupid about not understanding futures and options. Think about that, i have been on the Banking Committee eight years now. I started off not knowing these issues as well as i should have or wanted to, but i also understand that that is the game they play. They use language, use intimidation, and threats is the wrong word, too. The use language to make you not want to question them because the media does not want to sound stupid and regulators dont want is sound stupid, so we dont challenge them. The story shows why it is so important that we challenged him. Still be afraid of looking like you dont know enough about financial reform and Financial Regulation and these economic issues. Dont be fearful about not knowing enough when you challenge power and when you challenge their comments. That is why the work that senator warner and and senator sanders and senator merkley are creating a new vocal dynamic to hold wall street accountable. We have the opportunity to remake this economy. We know what is happened to middleclass wages. We no profits are up. We know that corporations are moving overseas to avoid taxes. Profits are up, executive salaries are up, workers, the middleclass, working class and poor people are not making the wages they once did. The minimum wage has a third less buying power than in 1968. You know all these things. That is the importance of remaking this economy. I will close with this. Mississippi civil rights leaders in the 1960s, this is perfect for your activism, said hotel may what you believe, show me what you do and ill tell you what you believe. Dont tell me what you believe, show me what you do and ill tell you what you believe. We win enough to have his canary indicates that will symbolize the progress we have made in america. Im so thankful to all of you for playing such an important role. Thank you. [applause] Rolling Thunder held its annual rally today on the national mall, founded by Vietnam Veterans with the mission to bring awareness to p. O. W. Missing in action issues. Look at some of the members as they rode across the arlington memorial bridge. This leads into Arlington National cemetery. Cspan2 morro bay programs include former president george w. Bush and joe but that and tol biden paying tribute 9 11 memorial victims. From our research we know that one problem is that veterans and employers have a hard time translating military experience. That is not surprising. You dont see many job posters that say wanted, willing to risk life and coworkers. What is a veteran supposed to put down . My last office was a humvee . The study will help veterans to tailor their recruitment hiring efforts. We are going to send a broader message. Empowering veterans is not only the right thing to do, it is a smart thing to do. I have employed a lot of people in my career and i have learned that you can always teach skills. What matters most in employer is qualities like work ethic and responsibility. That is what our veterans bring. It means you can count on the applicant to be loyal, to have good leadership, teamwork skills, and discipline. To employer . That should mean a lot. Also at the event, the army vice chief of staff, who talked about how he came to understand the challenges facing this group of veterans. Next, q a, with john sock go sopko. And then republican lawmakers on the conservative domestic agenda. And then another chance to see Keith Ellison and others at the new populism conference. You can now take species in with you wherever you go with our free radio app for your smartphone or tablet. Listen to all three cspan tv channels or cspan radio anytime. There is a schedule for each of our networks, you can tune in whenever you want, my podcasts from our secure signature shows take cspan with you wherever you go. Download the free app online. Coming up tonight on cspan, q a with john sopko, special Inspector General for afghanistan reconstruction. Who discusses how american taxpayer money is spent and misspent to the wartorn country of afghanistan. John sopko, explain what you do. I am the special Inspector General for afghanistan reconstruction, appointed by the president about two years ago to oversee all reconstruction money that the u. S. Government spends in afghanistan by any agency. I am not in the department of defense, department of state, but any u. S. Government agency that spends money over there, which is about 100 3 billion via spent so far enough to understand. What does it mean by reconstruction . Reconstruction is defined broadly. It is building schools roads paying the salaries of the Law Enforcement am of the army, fighting the equipment, seating them. Why did you come out of private practice . The white house calls, you usually return the call and listen, and they asked if i could help out. They needed someone to take over the reins. It was a challenge. I was happy at the law firm but was interested in a challenge, and this has been challenging the past two years. I have an interest in National Security issues and i have done oversight. Going back to 1978, i have been involved in Law Enforcement. So a natural for me. What job did you have in this town, i know you have been here for a long time, gave you the best training for what you are doing now . Probably working for sandlot and also john dingell, to great leaders in oversight, great teachers. Learned a lot from both of them. Learned how to be fair and aggressive. How to work with the press. Why Inspector General should work with congress because we report to them. I think both of those men investigations for both of them over the years. I assume there is a special category of members of congress that are involved in oversight. Excuse me. Any Congressional Committee can