over the last 50 years in theory the percentage of americans, this is not a theory, submitting patents collapsed. look at those numbers. supporters of the bill say it will speed up the battant process for investors and eliminate the ambiguity of lawsuits. lawsuits that keep inventions tied up in courts and off assembly lines. however, more inventions in production would create i should say more inventions in production will create jobs. our next guest disagrees as do i. he says the new bill will hurt small inventors and argues it s tantamount to a bank bailout. joining us, chairman of data treasury and uniquely targeted in this piece of legislation, claudio ickes want to get to that in a second, first, very broadly, help us to understand why this legislation is so beneficial to large companies and those with significant resources and why it s so detrimental to smaller inventors? well, thank for having me on. the principle thing that i can
we have those that support us if we re doing this, how much would it cost to give adequate representation by order of magnitude? tens of thousands, hundreds of thousands or millions? the vote behind claudio, how s about that? a high ticket. a good looking boat. claudio, thanks for shares your story with us. claudio ballard, specifically exempted in a piece of bank legislation brought forth by chuck schumer so that the banks no longer have to pay him. the fee is son his patent at time when effectively the president and others are reforming patent legislation to the benefit of those who can file quickly and to the detriment of those who maybe small and not have the sophistication or attorneys immediately available to do so. as we take a break here we bid adieu to our panel. catch jimmy and karen next week and take a break.
benefit to anybody? or at least equal benefit to everybody, i should say? that my question for the panelists. what can a small business owner do at this point to work through the process? i mean, i understand they mate get hit by large businesses and may have to go through the legal process, but just the patent process alone seems like a complete nightmare. well, it s definitely a process that takes a lot of time and effort, and that s disappointing. we went through it. we came through it. and we did fine with it. we followed all the rules. and after all of that, the banking industry said, gee, we can t beat this guy fair and square. let s go to congress so we can buy ourselves legislation, so they went to chuck schumer and others basically giving them a license to steal. getting another big bailout is what it comes down to. it s not right and not fair ankts classic example, karen, on the narrow issue of claudio s story, where because the banks are politically powerful they can get
smackdown yesterday along with the congressional call to action. in response, mitch mcconnell making a big deal of inviting the president for a chat on no notice with the knowledge that he already had plans. what the senator invited the president to do was to hear senate republicans restate their maximalist position. we know what that position is, and he also invited him to hear, invited the president to hear what would not pass. that s not a conversation worth having. what we need to have is a conversation about what will pass. pro wrestling at its political finest, ladies and gentlemen. now republicans get to say it s the president. the president, of course, gets to say it s the republicans. and we get to sit here frustrated. he said to congress, and i quote, members of congress need to cancel things. you know what? i agree. i m here today, though, mr. president. where are you? well, majority leader harry reid calling off the senator s fourth of july district workwe