Too Big to Fail?

" Jeff in Los Angeles hi Jeff your on the council."

" And I how are you -- break guys are these guys kidding mean. If you want to politicize. The Federal Reserve go ahead and put it under the the guidance of congress Octavia wonderful example. Let's say he now we have the Democrats in office and they want to pump up the economy before the next election to make. Things look real -- for the Democrats. All they have to deal with nick at nite phone call to the Federal Reserve Chairman and say you know what cranked up the printing presses were gonna. We're gonna increase the money supply and and boom. You know increase not stock market prices bet that prices through the -- the -- larger amount of dollars. Second -- the continue to do under presidential election this is having an independent. Federal Reserve is an absolute. Requirement. -- have a national bank controlled by by a political. Entity. Is that certain."

" But the whole problem behind his -- I'm you're speaking to the -- just the whole -- behind this is congress is the one who gave the Fed their independence. To get it out of the political games that are played. Between the dams and Republicans. And they have always reserve the right to bring it back and that's put Barney Frank is seen the opportunity. And he's going forth."

" Well they that they. It ought to give an example they they were they always have the right to go ahead and and pulling back up Fannie Mae and Freddie Mac and Sallie Mae and let's take a look at what's happened with those Kennedys both were totally politicized do they put all their cronies on the board yeah. There was so much crap so much corruption. It it's it's the deplorable and you know you talk about trying to sneak one by this is apple absolutely. This event which -- the American people right here let me it's it's it's the --"

" You have a guy that represents. One a year neighborhoods in LA Brad Sherman he's a Democrat. Known Brad for 25 years -- CPA and his -- first met him. But he is absolutely outraged about this as well so you got. You know -- Brad Sherman call him and asked him what you candidate to help on this because he is also looking at this ago. This is nothing but trouble for the future you talk about. This is looking how we look back now and you bring up -- Freddie and Fannie we look back we played it takes about how. They manipulated Freddie and Fannie and look where it led to go boom -- and lots of bad hands in the beloved but it led to a disaster. This will lead to. 88 financial disaster down the road of congress is in charge of that reserve. I'm with you a 1000% jump I gotta run per clock I appreciate your call."