The big banks to do things they really shouldn t have done and brought us all to our niece. and we re now talking about trying to let them loose seems to me insane. but who knows what they re going to do. what would you say, michael, is the single biggest thing at risk in some of the proposals you ve heard what republicans want to do to dodd/frank? you know, there have been so many things said. if i was monitoring it from afar, not wanting to read the dodd/frank regulation and i just as a concerned citizen, i would watch first, they don t change the leverage requirements on banks. they should be the equity requirement should be greater than they are. but at the very least, they should not be reduced. the volcker rule, some republicans say the volcker rule had nothing whatsoever to do with the financial crisis. the huge banks loaded up on subprime mortgage risk. much of it disguised. it was hard to know who had what. that was the heart of the crisis. the rule that prevents them
Still haven t gotten to the bottom of it. there are bailouts upon bailouts upon bailouts. we can at least hope when europe goes forward, they will look to what the u.s. has done and they won t do what we did. hope s not working that well these days. on that $7.7 trillion, an important thing to remember. the fed chairman at the time was ben bernanke and the new york fed chairman at the time was tim geithner. i want to make sure all of msnbc s liberal viewers know, obama re-appointed and promoted these guys respectively. so it s not as if this was and just to go where you re going, to take it honestly, as far out of the partisan political complex as i can, the policies were implemented, the eurozone, by the way, was created at the same time we did glass-steagall, all one idea under clinton with rubin, and george bush advanced it, lifted the leverage requirements, and president obama said, this looks great, let s do more. anyway, let s talk about something else, shall we? do you w
Idea. maybe they got a lot of money from bankers. this is not a matter of opinion. the credit default swap is a mathematical device created unbill clinton, advocated under larry summers with no supervision. the leverage requirements lifted under george bush to allow them to bet 100-1, that is a math mat cal fact, to say the weather was weird that day and this happened is fundamentally laughble. you don t agree with what the global inputs to what happened. you don t agree. you asked me as if it s my opinion. right. reporter: this is a mathematical fact. this is not a political opinion. it s preposterous. is he dead or not dead? no, no, he s dead. that s an observable fact. because lloyd blankfein is so