Before the immigration executive order. This after a federal judge temporarily blocked that order last night. The laws a powerful thing. It has the ability to hold everybody actable to it and that includes the president of the United States. President trump calls the federal judges move ridiculous and he disparages the judge as well. More on that later. Plus iran issues a tough response to sanctions that the Trump Administration issued friday as the country undertakes military exercises. Iran says that are strictly defensive though. We start the hour President Trumps executive order barring muslims from seven countries. It has effectively been reversed. The state department reversed the revocation of around 60,000 visas all of those who that were revoked a week ago are now good again. And can be used to enter the United States. President trump did not like the last 24 hours. That statement from state department included. This all around his executive order. In a string of tweets he blasted the federal judges order to temporarily block that immigration ban saying, quote the opinion of this socalled judge which essentially takes Law Enforcement away from our country is ridiculous and will be overturned, end quote. In response to that executive order, protests continue across the country in retaliation. Demonstrators are filling in right now at our Nations Capital making their way to capitol hill where over 8,000 are expected to rally and there with them all day so far. Nbc tom costello in washington, d. C. And tom, youve been walking with the protesters, what have they been telling you . Reporter we got a couple we may be approaching, you know, my guess and ive been talking to my producers here, were guessing three to four to 5,000 people. Its hard to get a real firm count on that but the message is essentially that people dont like this idea of a ban against anybody from any country, either on religious basis or ethnicity or from where the country is located and then in addition people very concerned about the idea of a wall along the southern border. Weve got a lot of people here from really across the country but also across the world. Weve seen people from multiple countries all expressing their concerns about this suspension of, this executive order a week ago which suspended immigration into the country from seven countries. That now of course on hold as you know, but this i would tell you this demonstration really picked up. Really rather quickly. We had a couple hundred people here at noon and through social media this thing grew rather dramatically. Theyre now walking down pennsylvania avenue toward the capital having started right in front of the white house. A very peaceful demonstrations. A lot of People Holding hands. Weve heard people singing various songs including this land is your land and now as they approach the Capital Building trying to get their message across, essentially their message is say no to racism, say no to hate seems to be the dominant theme. Richard back to you. Would you say the busiest point or the highest point so far since youve been in the streets with them . Reporter at this very moment i would say were probably at the crescendo in terms of the numbers of people who are on the streets here in washington headed towards the capitol building. Sorry about that. My photographers back peddling and thats what happens when youre walking down the street, but the kre schenn dough of people right now. We cannot thank photographers enough for doing that great work that yours was doing when he or she fell. Its tough walking backwards in such situations. Tom costello watching what is grown only in number. Th crowd in washington, d. C. Heading towards the capitol. Well touch base with you later. Thank you so much for that. Now i want to take you over to los angeles. Nbc katie beck is with protesters there. How the numbers . Reporter they are growing here as well. We have been seeing over the past few hours more and more demonstrators. Still this area right outside the arrival area. They have created quite a scene for the second weekend in a row. Its so important to them to keep their energy up and keep their message alive and to keep coming back here and reminding people about how they feel about immigration. Theres a lot of issues out here being signed in. Folks are definitely coming in number now. It was earlier start this morning but a rally is scheduled for about an hour from now. We expect to see even larger crowds then. Joining me now is one of the demonstrators. She is a syrian immigrant. Shes been in this country since the 70s. Tell me why you felt it important for you to come here today. I need to stand solidarity with the syrians and iraqis i came here as an immigrant with my parents and United States welcomed us. Weve been a fabric of this country. We participated and now we have to do the same for those who are now stuck not to come in. This countrys made of immigrants. Reporter what do you make of the energy here today . Do you feel like people are still really energized on this issue . Extremely energized. We stand together. It is the solidarity that everyone is here together. This is what the syrian immigrant looks like. Syria took on 100,000 armenian refugees in 1915 escaping the holocaust. Theres no reason why we are turning our backs on them. Reporter will you come back again and again if this continues. I will be here every day every time along with all my come raids here. Reporter were going to be here throughout lax here today. There is also immigrati attorneys here on standby for folks come you thorough that arrival gate that may need access to Legal Services they are offering those for free. Ill send it back to you. Thank you so much. As we saw last week those lawyers so important to those that were detained across the country. Now to jfk. There we have nbcs adam reese. You are standing at a location seven days ago, adam, where it was absolutely packed. How does it look right now . Reporter no protesters here, richard, but nine days ago those Immigration Attorneys were here. Theyre still here. Theyre really encouraged and pleased by the judges decision over turning President Trumps executive order, Customs Officials here say its busy as usual now as if that executive order never happened. As you know the president tweeted this morning, saying that seattle based federal judge made a mistake. The decision is ridiculous and he will seek to overturn it immediately but here on the ground at jfk terminal four theyre trying to get back online, make it business as usual. In fact, in egypt air official said anyone with a valid visa there would be no stopping them from coming in to the United States. Richard . State department revoked what was visas that were basically null and void after that executive order last week. Thank you so much. Adam reese. Now lets get to nbc Kelly Odonnell shes live in West Palm Beach. Thats where President Trump spending the weekend. Any response so far, kelly, about the protest that have been out across the country today from the president . Reporter not specifically on the protest but we have seen that the president used twitter today to talk about the ruling, to address his concerns about the judge. Not naming james robart but referring to him as a socalled judge and labels his order to temporarily halt the enforcement of the travel restrictions as ridiculous. We have not had any official word about the president s day so far. We can tell you he spent several hours at his golf club in West Palm Beach traveling with the small media pool that goes with him. Officials dont know if he played golf. One would presume he did. Typically with past president s we would get whats known as a readout of the president s activity but so far we have not heard how he has spent his day. We do know that tonight he and Melania Trump are expected to attend a red cross gala, a fund raiser that has been held at his maralago property for a number of years. To have the combination of the white house trying to brand his property in florida as a winter white house to perhaps foreshadow the president visiting here often during the cold weather months in washington, d. C. But it has been a day when we do know that there are some foreign leader calls on his schedule with ukraine and italy, but as we have seen in the past iterations of protests, there has been a slower response with respect to that. Instead focused on the ruling itself. The white house saying that it will gear up to try to challenge that in court and the president criticizing both the judge and what he found in the temporary halt of the president s travel ban. Richard. Kelly, one of the things that youve been watching along with us over the last week or so is after the executive order came down, would the administration, if it were to be reversed and now were sitting on a day and hour where that executive order is effectively reversed, whether the government would respond with a Trump Administration th a dhs also respond and undertake process that were done a week and a half ago, would they return to that based on the federal judges reversal of this . Any indication in terms of airports, dhs, uscis and the rest . Are they adhering to the federal judges move there in washington . Reporter well, i think thats something we got to gather more data. Do the outlets around the country where people could be coming in with this ban lifted well have to see what theyre responding but from the White House Executive Branch point of view it is their intention as of this hour to fight this. The white house still believing that the president s order is lawful and necessary for national security. That a country has the sovereign right decides who can be led into the country and who cannot and we have already seen the earlier flutter over legal permanent residents, people with green cards. There was an initial push that they too would be swept up in this if their home pass ports were from the seven countries involved that are predominantly muslim. There was a change to make sure that they were waived so they could pass through to the United States. So this has been kind of a work in progress, both in policy and then the legal sort of back and forth about not only enforcement or not enforcing it, sort of a policy reach from different airports to the customs end and Border Patrol to the department of Homeland Security. Theres a real web involved in trying to execute a plan like this or to roll it back, but so far the indications from the white house is that President Trump intends to try to move forward with this and there will just be legal challenges that will play out that may determine how far if at all he can carry this out. Richard. A great summary as alwaysn this 3 00 hour on a saturday in terms of where we stand on this issue. Thank you, kelly. Members of Congress Also reacting to the president s tweet storm which we were just mentioning. The president hostility toward the rule of law is not just embarrassing, it is dangerous. He is attempting to bully and disparage yet another federal judge for having the audacity to do his job and apply the rule of law. Lets bring in matt miller and former director of the office of Public Affairs for the department of justice. Well get to that in just a little bit here, matt because its the tweet where President Trump calls the judge here james robart ridiculous as well as socalled and when you look at those words, one has to ask is this the way to treat one of the representatives of the three branches of government . Absolutely not. Its unprecedented for a president to Say Something like this and its completely inappropriate and what i think federal judges are going to now ask when you look at what the president said, questioning the legitimate of this federal judge and when you look at what the administration has done. Theres a story last night when a judge that customs and Border Patrol slow walk that order, that they gave those immigrants access to Legal Services numbers that were where there was no staff rather than the lawyers who were waiting outside. When you look at the president questioning the legitimacy of a judge and his administration not carrying out lawful judicial orders theres going to be a lot of hard questions that theyre going to ask when they come into court next week. We may see that during the confirmation hearings coming from the white house. I want to move to the news of the day and of the hour. This federal judge from washington coming out with the decision last night eastern time afternoon in the west which basically reversed what was an executive order that was signed exactly one week before. Were you surprised by this and how long will it hold . I wasnt surprised by it at all. When you look at the federal judges that have looked at this order so far this week, all of them but one really have sided with the plaintiffs to overturn the order. When you look at the fact that the acting attorney general sally yates clearly thought the order was unconstitutional. She was willing to direct department of justice attorneys not to defend it in court. One of the thing that surprises me the judges order has been in place for around 20 hours or so now. When the white house rolled this order outnd were asked why they did it so quickly. Dangerous people would come get on plans and get into the United States. That of course was nonsense. Everyone that had a visa was completely vetted, where are the department of justice lawyers. Why are they not in filing an emergency appeal . Let me ask you that. This is what you know so well. What would be the burden proof this as department of justice as the Trump Administration now tries to say to that judge in washington, no youre wrong and go to the Appellate Court and try to stop it. What do they have to do . Do you see this possibly happening soon . The burden is very high for them. Theres some other avenues they possibly have. But its going to be very hard for them to overturn it, certainly to overturn it quickly and they also face the problem this is the ninth circuit and they have to be very worried theyre going to get if they go up to the Circuit Court theyre likely to get an order not just from one federal judge but an entire circuit. Its a real problem for them. There are growing legal problems not just this judge. There are other judges against this order. Legal challenges certainly if you are with the Trump Administration and if youre against the Trump Administration 16 attorneys general as you know condemning the executive order, a handful of them actually taking legal action along the way here, matt. In some cases here as we look at all these states, theres rulings that are in favor of the executive order, rulings against it, this means were problem going to go to the Supreme Court. How fast . How soon . It will take time. If you look at the judges order fl yesterday. He hasnt set a Briefing Schedule yet which will take time for both sides to follow briefly and reply and go to the full circuits, potentially be argued by three judge panels and. Months . Yeah, its months and i know the big question i think a lot of people have, will this, if and when it makes it to the Supreme Court, will it happen before judge gorsuch if hes confirmed. I dont think we know the answer to that yet. I think youll see this question figure very prominently at his confirmation hearings. Thank you for giving us your perspective today. Thank you. Watching these live pictures all across the country. Another weekend, another saturday, people walking, people taking to activism. That is a live picture from new york city. Its about 20 minutes after the hour. Theyre outside stonewall in in Greenwich Village a famous icon in terms of when it comes to the lgbtq community. That protest not targeting any of President Trumps executive orders. Well go there live after the break. More concerns about iran after it conducted another round of military exercises and whether we can expect a response from the u. S. Ives 35,000 fans a cutting edge game experience. Or the network that keeps a leading hotel chains guests connected at work, and at play. Or the it platform that powers millions of ecards every day for one of the largest greeting card companies. Businesses count on communication, and communication counts on centurylink. This is one gorgeous truck. Special edition. Oh, did i say theres only one special edition . Because, actually theres 5. Aaaahh ooohh uh holy mackerel. Wow. Nice. Strength and style. Which ones your favorite . Come home with me its truck month find your tag for an average total value over 11,000 on Chevy Silverado all star editions when you finance through gm financial. Find new roads at your local chevy dealer. Were watching breaking news across the country. This is a group of marchers and protesters. Here in new york city. Theyre at the Stonewall National monument, iconic for the lgbt solidarity movement. The event organized by proimmigrant and gay support groups is held to pose opposition cabinet picks. This protest is backed by numerous organizations and political people. What have you been hearing there morgan on the ground . What are they saying . Reporter richard, crowds have been outside here since before the rally was actually scheduled to begin at 2 00 p. M. If you take a look around here, you can see signs that say resist. Weefd had speakers that have been taken the podium all day. Theyre also many of them are immigrants. Theyre saying theyre standing here out here today in the cold bringing this kind of electric energy to prove they stand with those immigrant groups who feel like they were marginalized by those campaign comments. I want to introduce you to natalie, we talked earlier and you said, i get that preside trump is our president now. So why are you out here protesting . Because if youre silent in the face of injustice, and my parents raised all of us to stand up against injustice and to raise our voices and im here as a straight alley. Im here with all my closest friends from work who are from this community and were standing together. We do recognize that trumps our president , but the minority president and we still beat him by 3 million votes with the coalition asleep. You feel like the coalition was asleep. Yeah. Reporter do you feel it is awake . It is wide awake now. And we are very present and angry and vocal and were going to take this fight all the way to the courts and polling booth. Reporter if you had a message to other people that are watching you out here, you are a straight ally coming here to support lgbt members, why do you think its so important that straight allies are here today. First they came for the muslims and jews if you dont stantd up and stick together, you have to stand together and so they may not be coming for you now. You may feel safe but you cant rest an injustice to one reporter what natalie is saying is a lot of what we heard today richard. They felt a sense of hopelessness and theyre showing people here that they shouldnt feel helpless because they have a community of people behind them and supporting them. Richard . Morgan, thank you so much. Theyre in front of the historic stonewall inn. The latest on irans new military exercises and its impact on the iran nuclear deal. Whats going on in chicago . As the president sets his sights on the surging violence in chicago, chris hayes heads to the city for an important town hall. Well take us beyond the tweets and talking points and explore how racial division, gangs and Law Enforcement all contribute to this crisis. Join chris as he talks with city officials, activists and residents about how we got here and where chicago goes next. Chicago in the cross hairs thursday night at 8 00 p. M. I am just trying to learn as much as i can about my culture. I put the gele on my head and i looked into the mirror and i was trying not to cry. Because its a hat, but its like the most important hat ive ever owned. Discover the story only your dna can tell. Order your kit now at ancestrydna. Com. The deal that was struck was a bad deal, that we gave iran too much and we got too little for it. And i think that he is going to continue to be tough on iran in a way that wasnt done in the last eight years. Todays actions and the way that we expedited those sanctions are another example of how hes going to stay tough on them. White House Press Secretary sean spicer echoing the tough stance on iran. Violation of u. N. Security Council Resolution. Iran took a similar strong stand in language and action. Todays Iran Military also staged air defense drills. It said that these are all planned. Well join now by hillary rednick. Thanks for being with us. I want to start with what the white House Press Secretary was saying. It was a bad deal. Was it . Well, i think the iranians are thinking it was a bad deal for them. It robbed them of their deterrence capacity to have this question about whether they could have nuclear weapons. Without that theyre pretty vulnerable to whatever the United States may want to do to them under the Trump Administration. So bad deal for iran, bad deal for the u. S. Then . We have most at least we think of it we have most of the power. We have military dominance in the region. We control the dollar denominate you had financial system. So we have a tremendous amount of leverage to put pressure on iran so were in a very strong position at least in terms of our perceptions. What we never understand what we seem to get wrong over and over again whether its in iran or afghanistan or even decades ago in vietnam is that the little guy is going to fight to the death because they have everything at stake and thats where im concerned that this could really spiral out of control. So if youre saying it might be a bad deal for iran is that why they did the missile test now . I would take it face value that it was preplanned. Theyve done missile tests repeatedly. They did them during the Obama Administration and the Bush Administration. They also do military exercises regularly. They have a formidable military and defense establishment. So i would take at face value that it was preplanned but they will meet u. S. Threats with their own concept of defense and deterrence. I think we can bet on that. So one of the questions right now, did this missile test violate what was a u. N. Security Council Resolution . Its very interesting. The Trump Administration has been very careful to not use the term, violate, that its not violating the security Council Resolution or the nuclear deal. What theyre saying is that iran is acting in defiance of the security council, in defiance of what the United States wants for the middle east. So ihink theyre trying to thread a needle here to not alien ate their alley russia and to try to thread a needle. Im not sure its going to work. They have been careful to not charge iran with violating either the nuclear deal or the security Council Resolution. You heard the language on notice. Yes. Very atrl when we talk about International Policy or foreign diplomacy, just not typical. How is iran taking this . And does iran and the leaders do they fear President Trump more than president obama . Well, you know i worked with the Bush Administration when president bush designated iran as part of the axis of evil. It was not expected in iran. Iran thought after 9 11 that the United States would see terrorism for what it was, that it was al qaeda based that it wasnt something coming from iran and iran would even have the opportunity to work with us as they did on our side in afghanistan and they were shocked by their designation as part of the axis of evil. They are similarly i may not use the word shocked but i think theyre surprised at how quick and visit tree ollic the rhetoric has been out of the white house. Theyre very concerned the situation could spiral out of control in the region. Great to have someone of your expertise and experience, hillary. Thanks for stopping by today. Thank you very much. Now back to what is our breaking and lead story today. And that is the executive order. Immigration executive order that came down a week ago and effectively today at this hour being reversed and the responses that have come down from President Trump calling the current federal judge out of seattle who made that determination yesterday President Trump calling him a socalled judge, also calling the decision by that judge as ridiculous. Joining us now by phone is democratic Patrick Leahy. Thanks for stopping by today. You feel very strongly about the comments that have come from President Trump. Whats your thought . Theyre amazing. I cannot imagine comments like that from any president either party. He seems to like to go after federal judges. You remember when one federal judge dared question some of his questionable business activities, he said, well, his ancestors were from mexico so hes not qualified. He said the same thing, first, outrageous on this judge then withdrew that word. But he questions the judge. This judge incidentally was somebody nominated by a republican president. He was confirmed in a republican controlled senate, 990 and basically hes saying, if you step outside the constitution, then there are checks and balances. President trump seems to think that only he can state what the law is, only he can state whats going to be done and once he states it, everybody has to fall in line. Well thats not the way this country is designed. As you think about the comments that come from President Trump and you look towards the confirmation of the next Supreme Court justice, the the question has been asked, how would anybody answer the question, so what would you say to President Trumps use of language about another judge in a federal judge appointed by a republican president , george w. Bush when hes using such language, what do you expect to hear in his confirmation hearing. I expect to ask that question along that line. If you have a president thats going to bully and disparage a federal judge, what do the federal judges say about it . Ive listened to comments for example, by Jeff Sessions and those around him, Jeff Sessions before the committee for confirmation as Deputy Attorney general, he asked her under oath demanded, did she say she was stand up to a president if she thought the president was wrong . She gave the only answer that an attorney general or Deputy Attorney general could give and that is yes. If the president was wrong, id have to say so. Well, then they were all in high dungeon when she did exactly that on President Trumps immigration order, which is now been eviscerated by federal courts. She stood up and said, no, its wrong. As most lawyers knew was wrong. And now oh, my gosh, fire her. Well, what theyre saying is, we dont want to follow the rule of law. We want to follow the rule of trump. Hopefully that will change. The response from President Trump is he is merely trying to keep the United States safe and that such executive orders are needed. Do you agree with that essence . Excuse me. Having an executive order which is basically where against muslims coming into this country doesnt keep us safe. All that does is give isis a recruiting tool. If it is a recruiting tool, how might the u. S. Government then respond to that as we we have seen some reports and News Headlines of isis celebrating such moves by this administration and using it as a recruiting tool. How effect do you think this might be . I think it will be effective but it also ignores the fact that we have extraordinarily ugh vetting in this country. These people go through three, four, five levels of vetting. Most of us would have a difficult time going through that. Yeah. I would hate to think any one of us would have to go through that. We would eventually get through it but it could take us a year or two. Senator, you probably watched over the last week alone, week ago but just this week alone the number of people taking to foot, going to the streets, going to airports, showing up in town halls. What do you make of that . What does that say about what americans are thinking and may do come 2018 . Well, i dont know what theyre do in 2018. I know what liked to have them do. It shows the frustration. I was born in vermont. It has only 5i68 hundred people. 50,000 were on our state house lawn the day after the inaugural now you know the hundreds and hundreds of thousands to showed up to march in washington. Our daughter, our granddaughter marched there. My wife and i did. A very peaceful march but i talked with hundreds of these people both the vermonters and others who were there and theyre saying, are our rights going to be taken away . No matter what rights were talking about and these were both republicans and democrats that i talk with. Thank you so much, senator Patrick Leahy for giving us a call today and stopping by. The protest and marchers across the country and your response. Appreciate your time. Thank you tu. A look at washington earlier for you as well. One of the protests that are taken place across theountry that we were just mentioning, how this might embolden democrats in the wake of President Trumps recent executive orders. Thats a big question right now. Whether they can turn anger into action. American express open cards can help you take on a new job, or fill a big order or expand your office and take on whatever comes next. Find out how American Express cards and services can help prepare you for growth at open. Com. Find out how American Express cards and services you could start your search at the allnew carfax. Com that might help. Show me the carfax . Now the car you want and the history you need are easy to find. Show me used minivans with no reported accidents. Boom. Love it. [struggles] show me the carfax. Start your used car search and get free carfax reports at the allnew carfax. Com. Thanks for staying with us. Were watching some of the marches, the protests across the country. Thats the story on a saturday reflective of what we saw a week ago. This in response to the immigration ban an executive order signed by President Trump one week ago and then what effectively today is a complete reversal of it. This because of a ruling coming from a federal judge out of Washington State and then the state Department Today reversing the revocation of 60,000 visas that had happened as a result of that executive order. So everything now standing before the exetive ortd was signed, everything the way it was before at this hour. Joining us now msnbc victoria defrancesco. And ryan williams, republican strategist. Really great to have both you and were short on time. Victoria, as youve been watching 16 states, condemning the ban. Some of them Like Washington which i just mentioned, taking legal action successfully. Is this the playbook for the coming four years for those against this administration . Its the republican playbook and i know that playbook very wellbeing out here in texas where our governor who was then his job is every day to wake up and figure out how hes going to sue the government. So i think the roles have been reversed now where democrats are figuring out how can we use the tools at our disposal. The tools of federalism to block, to fight against what we see coming out of d. C. Not being constitutional, not being right. I think this is going to be a playbook that continues throughout especially with the hub of those very blue democratic states. How has this resonated there in a state that we did not think would be preswing during this last election many immigrants in places like houston and thats where we have the super bowl, but what has been the response to this executive order and where were at today . We are seeing folks continuing to be angry and frustrated and i think anger and frustration say very good thing when you channel it. So my hope is that this frustration is channelled into the ballot box because texas, regrettable has one of the lowest turnout rates even further lower so i think if we can get the state Democratic Party to harness that, that motivation and that frustration, 60 months down the road this could be a game changer. Its gng to be a long road regardless even if that frustration keeps up. Its early on. I was asking how might this help come 2018. Ryan, when you look at these 16 states which represent some 130 million odd people across the country, does the republican do republicans worry that this activism were seeing after two weeks will translate into something bigger, either today or in the coming couple of years . I dont think it should be discounted. President obama in his first two years of his first term underestimated the power of the tea party movement. He overreached the obamacare process to pass the bill was a big tool to get conservative activist fired up and the president paid for it. He lost the house of representatives because of the energy on the other side. So i dont think republicans should discount this. They should Pay Attention to whats going on. I hope the president doesnt lose site of the energy out there and continues to promote an agenda that will bring more people together going forward. Ryan, as a moderate, how far will this rubber band stretch for folks like you who are supporting this president before it snaps . Were two weeks in right now. I think people want to see how the president s agenda progresses. He obviously campaigned on a certain platform and hes trying to implement that and i think theres some thing he can work across the aisle on. Perhaps the infrastructure project. Those are issues i think that can bring people together and build consensus for the president s agenda and i think eeld be wiesz to focus on some of those issues to build momentum. Just if you can give me a number here, ryan and then victoria, one to ten, ten being a big defeat for President Trump, this reversal of his executive order, ryan one to ten what would you give it . I think its too early to tell. Theres a long process. Come on. This is going to work it way for the courts. I dont have a number for you. Victoria. Im going to see an eight. He must have seen this coming and hes going to harness this. He saw this going into the future. Ryan, you owe me. You can email me. Just email it to me and thats how well get it done. Victoria, thank you so much. Ryan as well i appreciate you both being understanding about our timing today. Absolutely. Talking about the response from President Trump about the reversal. He just tweeted and he says this, what is our country coming to when a judge can halt a Homeland Security travel ban and anyone even with bad intentions can come into u. S. That tweet just coming in. Well get reaction to that after this. Well get reaction to that af r everything your family touches sticks with them. Make sure the germs they bring home dont stick around. Use clorox disinfecting products. Because no one kills germs better than clorox. With the stroke of a pen, President Trump took a step towards fulfilling another one of his Campaign Promises to dismantle the dodd frank law. It calls for the Treasury Department rule that contributes speculative investments that have contributed to the 2008 financial crisis and increase rights, privileges and protections for consumers. Joining me to talk about it, cnbcs ron insana. Lets cut through the gobblygook. What is it that he signed . An executive order. It does not immediately wipe out dodd frank. That has to be an act of congress, since dodd frank was a piece of legislation signed by president barack obama. This is going to have to go through a congressional crisis. He did, however, set the ball in motion where some of the measures to be unwound through an executive order or defund certain parts of the legislation that would eliminate the consumers financial protection bureau. Is this just advisory . For now. He is also rolling back other rule that is were designed to protect consumers, known as aphid douche yaer rules that forces brokeers to put the interest of their customers before their clients. The fiduciary rule was separate. It came under the department of labor. Dodd frank was designed to create the problems that led up to the 2008 crisis, including letting banks get into areas of speculative behavior like derivativeses and col latter rised debt obligations. His supporters will say this . Are you helping the swamp or the forgotten man and woman . There is something for the forgotten man insofar as dodd frank may have limited to the people that needed to borrow the most. To the extent small banks and Community Banks and regional banks get easier leeway in making loans, that could help the consumer. Home loans and this is going to help big banks and improve their profitability and allow them to get into areas that they have at least until recently been prohibited from entering. Barney frank said there are some things that could be changed. Why isnt this executive order for those who dont like it good . It depends if the whole thing is dismantled if they reduce the capital that banks are supposed to hold as a cushion against future losses. That would be a mistake, if they let banks use more leverage which could then allow them to get in a situation where they are dangerously overcommitted to a certain investment class. That could cause another systemic financial class. It all depends on how it is reconstructed, not the fact that they are reviewing it in its totality. Returning to 200 in a small way. Right now, there is nothing that looks like it is in a bubble the way real estate was. Thats a separate issue. Whether or not there is any Systemic Risk is an open question. We will have to wait to see how this is implemented. Much more ahead this afternoon. Next hour, we will be joined by former iranian president ial candidate for his take on the growing tensions between the United States and iran. So with our ally cashback credit card, you get rewarded for buying stuff. Like what . Like a second bee helmet with protective netting. Or like a balm . You know . Or a cooling ointment for the skin. How about a motorcycle . Or some bee repellant. Im just spitballing here. Nothing stops us from doing right by our customers. Ally. Do it right. Told you not to swat em. But when we brought our daughter home, ally. Do it right. That was it. 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