Fox News
Expand
Browse All Video
Watch Live

You're watching...

Is there too much regulation on Wall St.?

Details

  • Description

    Brian Benjamin and Amos Snead debate JPMorgan trading loss

  • Duration 4:55
  • Date

Clips

Also in this playlist...

Editor's Picks

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Aren't -- strategists and delegate yes to the to the presidential nomination on the Democrat side.

That whole process.

Delegates at a convention.

-- Benjamin is here and you just saying something very interesting about the interceding now.

Into Wall Street after this -- JPMorgan Chase thing I want to get into that -- Amos Snead is standing by on satellite are you there with us and us.

I am good morning I was treated it like it's my grandmother calling into -- and how to use the phone.

Pacifica I can't I can't -- you and I'm wondering I'm looking it's not like -- -- yeah.

Yeah.

After the hundred and it's like I -- I can hear your voice.

Are you care experts think it anyway former Press Secretary house Republican whip Roy Blunt and principal of story partners.

Amos Snead EE eight.

If you wanna contact him on Twitter thing this morning all right we -- -- so we can talk about that just because Brian and our talk about those we'll start there.

JPMorgan Chase and -- going to be some sort of congressional investigation into the two billion dollars they lost I just point out.

There was a truckload of money that was invested right this is what one -- of the truckload of money.

There was not anything illegal that has been brought about.

He'll lose it in fact if you don't take risk I say this about you -- you like not to get lucky but you were making an interesting comment maybe the president.

Just doesn't get.

Well let's say the president -- get it unless I got my camera well we'll know what I said was with that.

-- obviously when a political season right -- and there is a lot of fear that we have something similar to what occurred gulf war.

What the Wall Street meltdown and so.

It's lot of -- on that and so what.

I think there's a jump to -- being overly -- I think this old book I think it's more overly cautious -- -- -- and I think we need to be clear what happened I mean that the JPMorgan.

Was hedging a hedge.

Which is basically taking risk isn't what they do.

Well no you know typically if you if you make certain investments you might -- that investment.

To make sure that -- -- you know -- Subject to the markets.

In terms of what that means for your for your mark to Mark Russell it's kind of complicate -- -- -- -- subtle one up over complicate the language but a -- of the day.

If that issue is with concerned about the taxpayer hadn't stepped -- and then -- to separate.

Commercial banks from investment banks but it always stick okay if the issue is what otherwise I don't -- -- over regulate investment banks.

Why did you realize your Democrats can I was like yeah now -- -- -- you know I mean for you made it sound like you the president was just maybe a little out of touch on this issue you're still doing that may be spinning it a little bit differently now.

But -- did you hear what you just -- At -- did you know Harris I've had bad weeks two -- never lost two billion dollars.

That even shoe shopping.

-- but it's sitting the president and I say.

Is that you know he said that there should be more regulation on Wall Street and I think that's going to be interesting because last -- -- he ran for the president.

Wall Street really supported him -- -- you've seen him really reaching out into that the gay community really reach out to Hollywood community.

To get some of those big campaign dollars that Wall Street had -- last time.

That I just don't think they'll be there -- -- stats.

Interest as well that's an exaggeration some of that money is there any hurry come and then that's part of reason why at least we principle parts of the table.

We have raised significantly more than -- the Republicans I think the issue is is that it's it's it's it's a tough road.

In terms of how you do -- Wall Street.

And I think at the end of the day you know many of us and if the president and having problems on Wall Street while I was -- -- -- Dodd-Frank didn't go far enough and if and and if you look at the situation.

We should have either decided to to separate commercial rest of -- -- since they commercial banks can't do certain things.

Or just make sure that there's certain crimes which by the way is the case now what that prevents them -- them.

Going on -- I -- the -- out front what they're trying to prevent violence -- anything illegal bad JPMorgan's case that.

Again I understand hedging and you know we don't want to be our problem of them don't know the really fun any American don't know I don't -- -- -- whatever apathetic and -- that.

I would agree I think you know you're hearing more talks of regulation and I don't think that makes anybody on Wall Street happy or comfortable that that's turning into the main talking point.

The last few days what candidate talking point being.

While I think if you're Wall Street in -- looking at the two candidates and you have one candidate.

Obamas seem more regulation you have another candidate Mitt Romney who's been in this business community he's talking about invest in the United States increasing energy production I think -- -- Wall Street.

That's a candidate that you're gonna -- all right so this he get the Wall Street money.

Colleges and Iran to get the well.

I don't think he's got to get -- they're not going to be like eighteen year old voters who sit home because I didn't feel motivated.

Right meanwhile he's gonna vote they're gonna have a horses -- of who gets there on I think that's going to Mitt Romney I think you'll see Wall Street -- really coalesce around.

-- just think okay let's talk when he.

Load More