saw in 2008 would not happen again. and it sought to attack the principal problem lawmakers believe led to the crisis in the first place. the growth and proliferation of too big to fail banks. the big ones. to that end, dodd-frank laid out significant reforms increased the amount of money banks must hold on to giving the banks a cushion to avoid loan losses and future downturns. and subject to regulatory environments. so what does it the new regulation do it raises the threshold from $50 billion to $250 billion. these banks will not have to undergo stress test for free fall. joining me cnbc editor-at-large john harwood. john, i m just going to start with, i think this is a really good idea.
in 208, 2009, i worked in investment banking. i was in tgnarliest part of it, derivatives. when dodd-frank was put into place, it brushed every bang in the same way, and we were subject to regulatory capture. so those massive jpmorgans of world, they could hire more. and if you were a small bank that predominantly ran loans in the u.s. you couldn t possibly afford that. even if you don t care about banking if you need a loan and you run a small business in all different parts of the country, you couldn t get it, because the jpmorgans of the world, they re not interested in doing business with you. this is a great move and the fact that barney frank thinks it is i think says a lot. right. and it also is, the farther away from the financial crisis, the
100, 125, that is where barney frank from the dodd-frank bill was named for, this bill that the republican senator came in at, 250, that seems to be the discrepancy. i thought in the last campaign, your party talking about how evil the banks and wall street where, now they are helping them. i don t think anybody is looking to do a giveaway to the big banks. the question is, where do divide the big banks so they can be regulated to prevent another financial crisis and at the same time support rural banks and rural america and the small banks. see larry, are you buying that? despite the nuanced explanation, that doesn t explain this unprecedented attack on the leader of the minority of party by the stalwarts of the party. you re right, ed, all the efforts heard since trump denomination was, the divided republican party because of handful of republicans who won t support him. it s just as divided as it was the day hillary clinton drifted
100, 125, that is where barney frank from the dodd-frank bill was named for, this bill that the republican senator came in at, 250, that seems to be the discrepancy. i thought in the last campaign, your party talking about how evil the banks and wall street where, now they are helping them. i don t think anybody is looking to do a giveaway to the big banks. the question is, where do divide the big banks so they can be regulated to prevent another financial crisis and at the same time support rural banks and rural america and the small banks. see larry, are you buying that? despite the nuanced explanation, that doesn t explain this unprecedented attack on the leader of the minority of party by the stalwarts of the party. you re right, ed, all the efforts heard since trump denomination was, the divided republican party because of handful of republicans who won t support him. it s just as divided as it was
sunday morning. that election to me and this fall election are more about the direction of the country. people of pennsylvania have an opportunity to send a message they support the direction of president trump. sean: it s also about the crumbs that nancy pelosi talks about? vice president pence: it really is. if the democrats took over the congress in this fall s election nancy pelosi would be speaker of the house again. we don t have to wonder what it would be like. i was in congress the last time it happened. all about raising taxes and more regulations. the dodd-frank bill that killed community banking and lending to small business owners. they forced obamacare on the country. we know they would want to turn back the progress the president made. that is why the president are in pennsylvania saturday night and why we with campaigning all over the country to make sure we re-elect the majority