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And the Community Banks. The Community Bank said, we will oppose any bill that puts us into the same regulator. That was the reason. That is what stop that. We could not overcome it. It was something i thought about before. There was no way he you could pass a bill over the strong objections over Community Banks. Were ready to lobby hard against this because they did not want to be with the big banks. Draft,009, i proposed a what i called a discussion draft of the bill. In the midst of all this, the Political Considerations work is shocking to some. Votes too get enough pass it. The reaction was overwhelming, for a number of reasons. The regulators were going to be out of a job, so they were opposed. Not a lot of constituency interest in the subject matter ....
Now, former Senate BankingCommittee Chairman christopher. And former House Financial Services chairman barney frank about the financial crisis and the work they did. It is just over one hour. I want to introduce the moderator for this session but before i do, i want to point out that everything we discussed this morning and after this because theoot doddfrank act rose alt all of those issues and we dont really have to do with those anymore. I also want to thank barney frank for begetting with the spirit of the program. He knew we were going to heaven Abraham Lincoln lookalike contest so he grew a beard. We are delightful for that. Take no offense but if you read an act of cong larsonhe and jim siegel are as responsible as that statute as dodd and fra ....
[applause] is there a nice woman that would like to inspect it in the audience . Its actually my hair. They say, you wear the worst hair piece i have ever seen. What a horrible wig. So i put on twitter, i dont. Its funny, when people want to keep but i like to defend myself. And the beautiful thing about the new media is that you actually can. If you have enough followers, i certainly have a lot. Many, many millions. You can protect. Its interesting. Sometimes ill be attacked. Then ill attack back really viciously. I never hear from that person again. Especially if its a famous person. If its not a famous person, they continue because what do they have to lose . I was attacked like by cher. She didnt like my politics. I hit her so hard, she still doesnt know what happened. The last i heard of her. I dont know. Rosie odonnell has gone around saying the worst thing i ever did was to attack donald trump. She attacked me. A young woman of miss u. S. A. , lovely young woman, she had an alco ....
Have been adopted, and you cannot get rid of it and that wouldve brought the whole bill down. That is an indication of what were looking at today in terms of how congress looks at the Financial Services sector. When people Start Talking about repealing all of this and going back to the fall of 2008 as if somehow you can create out of the system a reflection of what used to be, i would caution you to be careful of what you wish for. There was this problem of the increasing conservatism of the republican party. The ukraine bill passed only after every other country in the world had agreed to rearrange the voting structurae. Try to get ans amendment through to tell the imf if they participate in the rescue of europe they had to stay out of dealing with the european crisis. We have the attack on the fed. This woulde that work with some of their republican allies that they supp ....
Other thing about the senatee. The senate is a very democratic place. Everybody has a chance to be number 60. Enabled by the fact we had a couple of democrats who voted no. But, yeah. Every other day some senator decided to be number 60 and we had to do something. The numbers changed during that as well. It was constantly a moving target. Let me mention Something Else as well to this audience since many of you are involved in the business today. We have left the congress but as ve greatver i ha reverence for the institutions i have served in. It is going through a terrible time. Something different from those of you who come from the perspective the Financial Services sector. The days where you have people like howard baker and bob dole are gone. Me, theyrowd, believe look at these issues in a very different way. Populism in aof a way that is worrisome to me in terms of h ....