we re lock iing at it right now. and dodd-frank is going to be very, very seriously changed. the bank cans go back to loaning money. that old system, a law that separates consumer lending from investment banks. the original called glass-steagall was repealed and some say it contributed to the financial crisis. trump talked about reviving the law and the announcement yesterday stopped hearts across the banking sector and banks fell sharply. then they recovered. candidate trump may have been tough on wall street, president trump is pro business. bank stocks have been some of the best performers during the trump bump. investors are so confident in his policies are good for business, fear is at the lowest in a decade. that chart there is the fear gauge. it plunged to a ten-year low. initially you saw bankers just freak out about this. there s a big banking conference in california.
right? so we re going to look at that. we are looking at it right now, as we speak. and dodd/frank is is going to be very, very seriously changed so the banks can go back to loaning money. here with us in new york, msnbc anchor stephanie ruhle who before becoming a television journalist had a briere in big business working for buch bank. and bob costa joining us from washington. when you hear break up the big banks. an interesting phase. how real? the banks can get back to loaning money let s get something clear. the banks are still loaning money. president trump said we are going to break up the big banks. he is not the first to say it. gary cohn has already said it. when president trump did say it today you did see the bank index drop but then it came back. those in the banking universe said yep, he will get right on that.
was inappropriate. you stand by the claim? take it the way you want to. i think our site has been proven strongly and everybody s talking about it. you don t have to ask me. i have my own opinions. you can have your opinions. i want to know yours. you are the president of the united states. that s enough. thank you. bret: that was not on the gas tax, that was on surveillance. talking about breaking up big banks. we are looking at that. some people want to go back to the old system. were going to look at it. we re looking at her right now. dodd-frank is going to be very, very seriously changed so that banks can go back to loaning money. bret: i asked brit this, one a president says they are considering, it s a totally different deal. the glass-steagall thing,
and some have argued it contributed to the 08 financial collapse. here s what the president told bloomberg news today. we are looking at that there are some people that want to go back to the old system. right? so we re going to look at that. we are looking at it right now, as we speak. and dodd/frank is is going to be very, very seriously changed so the banks can go back to loaning money. here with us in new york, msnbc anchor stephanie rule who before becoming a television journalist had a briere in big business working for buch bank. and bob costa joining us from washington. when you hear break up the big banks. an interesting phase. how real? the banks can get back to loaning money let s get something clear. the banks are still loaning money. president trump said we are going to break up the big banks. he is not the first to say it.
global peace and security. a quick look at wall street. stocks are relatively flat in this first hour of trading. a day after some bank stocks briefly took a nose-dive after president trump said for the first time as president he is considering breaking up the nation s biggest banks. we are looking at that. some people that want to go back to the old system, right? we re going to look at that. we re looking at it right now, as we speak. dodd/frank is is going to be very, very seriously changed so that banks can go back to loaning money. msnbc s ali velshi joins me. unpack what the president is talking about when it comes to these regulations and what it all means. the legislation he is stalking about, glass-steagall, was put into place during the depression. it was designed to mean that commercial banks, the banks you