the same time the trump administration does that the stock market is at all highs, financial industry stocks have done is very well. but this agency is crippling them. but, look, that s the pwebig concern. you wound up being very angry with me. which is not unusual. you re a passionate guy. you are the guys who regulate the industry. you re in charge of all of these, the big banking committee then. and now we see it is starting to erode, the fear we had out of swaeut that you have to watch what the banks do. you have to protect the little guy. the president seems to be saying differently now. he would during the campaign, i m no friend of wall street, i ll go after him. but now they are trying to remove the shackles, the restraints under the name regulation.
happened in 2008, when they were all trying to say they weren t part of the problem of allowing this crazy prospecting that was going on on wall street. for him to now say this is the least accountable, well, what else did they put in place? nobody went to jail for what they did and continued to do. do you think they forget the lesson of 2008? well, first of all, the battle cry about nobody went to jail. there were prosecutors in the justice department that looked at this. this has become argument. i mean, that s the problem with this. just to your point, people forget how both frightening this was because of people being hurt and what it meant to a financial collapse in the country but the answers for how you seek to regulate an industry that both outsmarts and outpaces what government is able to do is what fed a lot of opposition to
little guy. president trump campaigned against wall street. but the rhetoric hasn t been followed through. it creates questions about who is going to be looking out for consumers. 29 million americans have found relief through this agency to date. the problem with big banks and other folks haven t totally subsided at all. you ve got politics, you ve got power, ideology. and at the bottom, the consumers who got caught in the cross fire. just to answer alisyn s question, this was part of the dodd-frank legislation. it was supposed to be a bundle said protected agency. credit cards, student loans, bank loans all in one place with one ability to oversee. at the same time i was surprised to hear senator graham. you ve got to go back and see where he was when they were all trying to find a way out of what
states the deputy director becomes acting director when the agency s top spot becomes vacant. the white house citing a different law, federal vacancy reform act, allows the president to appoint an acting head to an agency already confirmed by the senate. republicans are applauding the appointment. i think the president is on good ground to appoint somebody under vacancy statute. in terms of the agency, it is the most out of control, unaccountable federal agency in washington. reporter: democrats are slamming it as a political move. wall street hates it like the devil hates holy water. they re trying to put an end to it. but this morning, the top lawyer at the burris siding with the trump administration. general counsel mcboyd says the president has every right to appoint nick mulvaney as acting director. the white house of course applauding that, and then calling out the outgoing director who resigned friday, saying this. it is unfortunate that mr. cordray decided to put his
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