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Published: Mon, 26 Oct 2009
Description: Barney Frank vs. the free-market economy
Automatically Generated Transcript (may not be 100% accurate)
" America. -- we have a couple of questions that we Afghans answer. But one what is our exit strategy on all of these things that we're facing what is the end game what do we look like at the end. Of this game that we're playing in. Washington do we really want to free market. Or do we want a market that is controlled even more by government. You know the government is going for. Even more businesses the New York Times is reporting that Barney Frank chairman of the house financial services committee teamed up with the Treasury Department. And is -- entered his new live legislation I can tell you all about it or acted. Just like to hear from the man himself who. If I'm not mistaken has never held down any other job and a government job. And listen to what he has said he's going to do."
" We will be providing a mechanism. For. Putting. Non bank financial institutions. Battle of everybody's misery. There will be death penalty. Connected by this congress but they will be for non bank financial institutions. That will not be included too big to die. And I say that because we have this euphemism that we are going to be resolving these institutions. It has not been my experience and when someone says they are gonna result something that killing. And we are talking about dissolution not resolution. We are talking about making it. Unpleasant. For the entity."
" You know I think I said in January in. By this Christmas united and recognize your country. I don't think I do at this point art -- former Reagan economic adviser hello art power. How are you how are you glad I'm good I'm good I'm you know iasis as pessimistic as I may sound right now I'm actually optimistic because people are standing up and waking up where they weren't a year ago that's for sure this is on the believe global talk coming from Barney Frank who singlehandedly has done more damage to this country than. Then I think you know probably 25 people. Put together could do. What does this means."
" It's amazing I mean he's just taking over and he's doing what market should do and I don't know where he gets the -- but it did that. -- but but that's what he's doing and it isn't it amazes me. We have the government taking over industry after industry after industry in the last nine months ten months and that you said it won't be recognizable by Christmas. And you're right it's really amazing."
" Okay but tonight I am also very optimistic if you are okay. They are kind of lying I had to be -- I'm kind of not to the American people to myself and kind of lying. If if I think if we art if if we if we don't move forward. And we don't demand. Answers and demanded that these people. Rumbled he's our new manufacturing czar. He doesn't believe in the free market -- Barney Frank doesn't believe in the free market system. Tim Geithner I don't know what he believes and John Podesta doesn't John Holdren doesn't Anita Dunn doesn't. Mark Lloyd doesn't. Robert McChesney was -- he's not with the administration but he's -- hanging around an awful lot Van Jones doesn't. I mean it. How do you fix an economy with a bunch of people who don't believe in the system that we have."
" While they were elected and that's what that would Barack Obama. I -- he really doesn't believe that it either. And you know he doesn't mean he was elected as account -- foil to George W. Bush and people ultimately deserve the government they get -- I had you know it's our job at tellem but that with our job to tell what's right OK you do the best you can have done a great job by the way."
" Then help me out on this art I'm gonna play a clip from a movie I know you've seen in a million times watch this clip. You want actors I -- titled you're Mott and handle the truth. That's what politicians thing the average person I love it that you cannot handle the truth here is the truth art Laffer if if if we continue to expand. -- Moody's said we're gonna lose our triple -- credit rating six months ago they said we would lose it within ten years if we don't change -- ways. They just came out last week incident will lose it in three to five years what is that going to be in six months from now tell me the truth so we can prepare. How do what is what the exit strategy here."
" While the exit strategy clearly is not by this administration if this administration continues -- this congress. The exit strategy will be bankruptcy of the US we will have to default on these bonds we will lose our position in the world but there's a much better exit strategy. If the politics returns do something like Ronald Reagan. Literally I cannot do that what these people have done and if you give me a long weekend planned."
" Okay I can undo the damage they've done okay but -- tell me have you along -- can only get along what used he -- hit a three day every tank every. -- every -- for any raise I can cut okay. So every -- every company they've nationalized -- can sell off in a weekend we get. Lots lots of them in the UK would Margaret Thatcher. We have lots of them that she lay down their you can. You keep them on do all of these problems it just takes politics and people need to know and they need to make a good garden. Where is Ronald Reagan today. Well he's out there I just don't know who he has -- to see that. Neverland because we don't have anybody on the right but I mean why did you ever read Pravda. But it's. Yeah I did read probability that read -- like what is wrong with the Republicans. If we're we're watching it. What happened to Russia. That gives us more truth than the entire foreign threats -- and it means truth."
" By the way too but but that -- never did say here is a media it's not Republican or Democrat it's not liberal -- conservative it's not left or right -- it's a belief that markets plan."
" And that belief that markets can occur to the Democrats are the Republicans. And frankly who who knew what Ronald Reagan was before he was president. Because as governor he wasn't very good governor and he really what the raise taxes he did everything that you and I would think was wrong but he was the greatest president we've seen. Bill Clinton as bad as he -- is a personal a great president. Jack Kennedy what was he cut taxes on capital gains he put the welfare reform he cut government spending as a share -- GDP by pac three -- percentage points."
" Jack Kennedy I'd like would do that he would not be allowed in the Republican Party today because they say he's too foreign rights -- back and I'm. -- met amazing thanks a lot --"
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