fdr refused refugee anne frank. for those of us in the jewish community and those who are not jewish but who simply care about never again repeating what happened to anne frank, when we look at the muslim ban and we look at syrian refugees, we say, let us save every future anne frank that we did not save decades ago. and whether this kind of evil prejudice against refugees was by roosevelt or on theit is a blot american conscious. to stem with all refugees to help them come into this nation. amy: a texas mosque was just burned to the ground, mark potok , and the jewish synagogue said our building is big enough for both and handed the keys or of their synagogue to the muslims in the community. your final comment? what do you think, mark potok, president trump could do to show he is serious about stopping these hate groups? >> i think he can't do much because the fact is that he is not serious about stopping them. the reality is, he has stood by and said nothing while not merely one, but three different mosques were b

earlier today president trump discussed the dodd frank financial regulations, the economy and generates job numbers at a white house meeting with his economic advisory council. the january job numbers show the economy added 227,000 jobs with a 4.8 percent unemployment rate. here's some of that meeting. >> thank you everybody for being here this morning. >> and i want to thank everybody here, as you all have done an amazing job. steve called me up. the day after the election and it might even save the latest, to be honest. >> if i can have a position, maybe one minute. >>. >> so good job. >> a couple things happened this morning, 227,000 jobs to the country right now. we were very happy about that. i think individually we are bringing back jobs, bringing down your taxes. we will give you a presentation and i think it's going to be something a really exciting time. we are doing this, coming up with tax building issues, healthcare bills even sooner. and it's really working and the clinic has been helping us a lot with the veterans and we appreciate that. we've been amazing. and i think all

>> frank and julie, there has not been any shooting for a while. and san pablo police hope it will stay that way. >> reporter: this stretch of interstate 80 is now under surveillance. police say they hope cameras will deter shootings like the one that plagued the i-80 corridor in 2016, including two shootings in san pablo. in many cases they made a speedy giveaway with a few witnesses including the gun battles. >> they are in excess of 55, hard for witnesses to get an accurate description of what occurred or were called in and they were able to witness it. and with these cameras, they will be able to go back to get an accurate vehicle description by what occurred. >> they were less than a mile between two in san pablo. and they would have three cameras on the stretch of i-80 last month. >> they have more than 100 surveillance cameras up along their city streets. this is the monitoring room at the police department, where the video is recorded, then stored 24 hours a day. police say after a crime occur they could find video footage of vehicles leavi

we could have a good deal of simplify kaig around dodd-frank. liz: it seems like college students should look into simplify casings dodd-frank. it's a bear of a law. 2,300 pages. donald trump has already started to try and trim where he is aloud. there is one area -- where he is allowed. public companies that extract natural oil and gas from having to disclose annual reports and paiments whed andpayments when s with foreign governments. that's a small percentage. what else would you remove from dodd-frank to help the market and help stock. >> well, i think again a lot of the apparatus on stress testing is geared more toward the larger banks. we expand the net too broadly on who should be stress tested. i think simplifying liquidity rules would be helpful. the ability of a bank to access funding in times of stress. during the crisis it was a function of the market perception they were insolvent. so prioritizing capital and simplifying some of these areas i think would make sense. i don't agree with everything in jeb's plan because i think on what

we expect to be cutting a lot out of dodd-frank. because frankly i have so many people, friends of mine, they can't borrow money, can't get any money because the banks won't let them borrow because of rules and regulations and dodd-frank so we'll be talking about that in terms of the banking industry. >> but the white house can't do it alone. >> i was so excited to get to the interview. >> well, for more on that we're joined now by congressman jeb hensarling, republican from texas and chair of the house finances committee. welcome, sir. >> kelly, thank you for having me. >> so it's been a very busy time for you. you are pitching your choice 2.0 act to americans and your fellow legislators. what do you think the odds are that this becomes law at this point? >> i'm not a las vegas bookie so i'm not going to give you odds, but i can tell you we stand ready to work with the trump administration using the president's phrase to do a number on dodd-frank because dodd-frank promised it would lift the economy and instead we have the slowest,

we wouldn't have needed dodd-frank. >> sir, dodd-frank didn't bail those companies out, the bailout did. dodd-frank and the rule were put into place to protect people out there. the vocal rule is stopping banks from proprietary trading. how is that going to help mom and pop on the street that lost their business or their home? >> it's obvious they didn't take the big banks out. they were the overregulations that came in to address the situation. i want to get back to that. i want to realll of dodd-franknd all that president trump can do with regulations as quickly as he can, i hope he calls congress to step up the pace and repeal all of dodd-frank to go back to the free enterprise system. the thing i especially don't like about dodd-frank, three government entities decide whether an invesment bank goes into receivership. that means the banks have to be in the capitol lobbying or competition will lobby them out. it's too much government involved. >> i want to turn to israel. your guy who said no in the past to a two-state solution, if the president is telling israel, no new settlements,

the trump administration will attack frank -- dodd-frank. >> we want to get the banks working again. we want banks to be back in the lending business. what we think god drank has done -- dodd-frank has done is it has stopped banks from lending to entrepreneurs. urged the u.s.s to stop making the wrong statements on the sovereignty of disputed islands in the south china sea. beijing's criticism comes after the secretary of defense accused it of shredding the trust of its neighbors. james madison reaffirmed the gen. mat said the u.s.t would use diplomatic efforts to resolve the dispute. is iran carried out further missile test on saturday. commander of the revolutionary guard told state media a range of land to land missiles were successfully testfired in the country's north. among those targeted by the new u.s. sanctions are a company based out of iran. we have you covered. global news. 24 hours a day. powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. let's get a quick look at what we can expect with the markets. it is the national day t

frank gary in just a moment. >> frank gary has been called the most important architect of our age. it's thoord disagree with that assessment. throughout his career, he has designed awe inspiring structures that have become must visit destinations. this spring he'll teach his first ever online course through master class.com. as always, i'm honored to have frank gary back on this program. how are you, my friend? >> great. >> good to see you again. >> wh i saw this, i was shocked. i was shock thawed were gone, i guess, reveal some trade secrets. not just because you say it, i could do it. but why do a master class? you are almost 88 1/2. >> i have no clue. the nice people came and asked me to do it the it sounded like something interesting. >> what makes it interesting for you? >> appealing for you? >> the candor of it. they let it all hang out. they ask go g. questionod quest. and i love teaching. i've always done. that. >> what is it about the teaching that you enjoy? >> opening other people's minds. you can see the immediate results. it's great that you're having an impact. >> yea

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so how come they're subject to dodd-frank? the same rules that apply to the people who did do something wrong. either because of incompetence or greed. >> it's not the case that the same rules apply to community banks that apply to larger institutions. and the most severe requirements in dodd-frank apply to the very largest and most systemic institutio institutions. the fed and other banking regulators have tried to tailor our supervision of banks according to their risk profiles, and a large part of dodd-frank does not apply at all to community banks. >> i'm going to go over a little bit, mr. chairman. you're not saying that dodd-frank hasn't imposed new regulations on community banks, have you? >> i said it has imposed some but i said large parts of dodd-frank do not apply. >> right. but many parts do. >> some parts do. >> okay. so the water's not 12 feet deep. it's only 10 feet deep. but you can still drown in 10 feet of water. >> so we have done our best to tailor our regulations so that they're appropriate to the risk pro

dodd frank isn't doing what it set out to do. dodd frank is a disaster, it's absolutely untrue, and donald trump had jamie diamond, the chairman and ceo of jpmorgan sitting across from him at the white house today, and jamie diamond in the last few years has said, dodd frank has made us better and stronger. and if you're in a big bank, that is true. >> so what is the middle ground here? the version you get from the trump administration, and the version you get from republicans is the law has been a disaster. it's hurting the committee, it's unnecessary regulation. the version basically you get from the left is hey, if you touch this thing, we're going to have another melt down. is there a middle ground here? >> let's break this down, why does dodd frank exist? it was the financial crisis. so gary cone, former president of goldman sachs got on the lawn today and he said our banks are highly capitalized banks and are in a position to do great things, but they are being strangled by regulation. the reason these banks are highly capi

dodd frank is a disaster. >> we are just hours away from president trump in his first meeting and the advisory council. among them jamie diamond of jp morgan chase. and elon musk of a tesla just name a few. one executive who won't be there members travis colonic. he quit the council abruptly. the white house is preparing to slap new sanctions on iran over its recent ballistic test. after both the president from an economic and his national security adviser officially put iran on notice that's a quote over its actions. in a shift is now warning israel against building the settlement saying it may not be helpful to middle east peace efforts. it'sxpected to come up. they travel to washington later on this month. the new defense secretary has a warning for north korea. the impact on the united states or on our allies will be defeated and any use of nuclear weapons would be the response effective and overwhelming. at the end of a two-day visit designed to reaffirm a strong two-day support. the two also expected to

frank: i'll mention that. although i was a trump supporter, advisor on the campaign, and though i read the post pretty regularly, i'm not aware of anything that was said by the post or "the new york times" that was libelous. as to trump. fleming: do you believe that the truth should be protected by the first amendment? frank: there's circumstances where, as in the david irvine case, where i applaud the result. , i guess a al certain amount of skepticism does make sense. the story about -- [inaudible] -- read the newspaper each day, looking for mentions of himself, for people to sue. he'd say, judge and jury must decide. there are kind of libel trolls that way. mostly the system works pretty well. you don't have people going around looking to sue other people for libel unless you're michael mann. john: or donald trump. he has a long record of suing people and losing. but doing so for strategic purposes. doing so to bankrupt the journalist or to punish someone. bob: it's becoming an increasing tactic. simply to

comply with the dodd-frank act. and come up with a better role that will not put american public companies at an unfair disadvantage and cost us jobs. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentlelady from california is recognized. ms. waters: mr. chair, i yield myself such time as i may consume. the speaker pro tempore: the gentlelady is recognized. ms. waters: h.j.res. 41 would rollback the s.e.c.'s rule that implemented an important congressional mandate in dodd-frank, requiring oil, gas and mining companies to publicly disclose payments made to foreign governments for access to their natural resources. that rule helps fight corruption in the ex trafficive industry -- extracting industry sector, provides vest drble investors with crucial information on the investors and gives citizens greater accountability for their governments for spending that serves the public interest. it also helps to diminish the political instability in resource-rich

what do you think about removing the orderly liquidation authority in dodd-frank? chair yellen: i would not want to see it removed, although i do think bankruptcy should be the main vehicle for resolving the distress. we have put in place detections that make it much less likely that a firm would fail and an sure that if it did, they would thatere would be -- ensure if it did, they would need to recapitalize the firm. i know the choice act proposes changes to the bankruptcy code that i think would be helpful in making bankruptcy work as a preferred option, but i think orderly liquidation is a backup procedure. we do not know what the circumstances might be in which a firm might fail. an issue in bankruptcy is that firms commonly need liquidity. they need access to the equivalent financing -- title 2 provides that kind of liquidity and puts the burden on the financial sector itself, not u.s. taxpayers for bearing any burdens that maybe incurred and i continue to worry with bankruptcy although we are working closely with firms to make sure they have liquidity plans t

charles: peter, you are a dodd-frank expert. small investors, the ability to repay loans that -- those nuggets what were insert the into these laws, seem to have the opposite effect. people, in old days might have scrimped and saved and went to a banker they knew, and convinced them, they could make good on the lon loan and start the business. >> true, that is where the growth in the economy comes from, that is start up businesses that are support by small banks, and the small banks have been burdened by the dodd-frank act, looking at what it has done, it has caused a very slow recovery from the financial crisis, and ththe ensuing reaction because -- recession it made it very difficult for small businesses. this is what the president was talking about today, very difficult for small businesses to receive the financing they need to grow, they are the source of. am and growth -- of employment and growth in our economy. the larger businesses have access to capital market, they can sell bond, and note, but the small businesses need

ordering the review of dodd-frank. us ashould not surprise he always talks about reducing regulations. -- this sounds like a precursor of something to come. this will excite u.s. bank stocks or u.s. markets more generally if this signifies a reduced a regulation of approach. >> it is in line with what he said about deregulation. he has an entrepreneurial mindset. he wants to reduce the barriers. what he said last night is that to be perceived disadvantaged to american banks. same.all part of the anna: what has the fed been agreeing to? >> the financial stability board chaired by mark carney. basically, to hire regulatory capital requirements. manus: is that the case of the administration politicizing the fed? the letters -- a letter like that suggests the federal reserve is no longer independent. >> it is capitol hill making its views known to the fed. anna: your focus is on europe. but there is a lot of excitement about donald trump regarding lower taxes and reduced a regulation. will markets think this is not all abo

frank act, and he would save it is hard. you look at wells fargo's, it is -- it is wells fargo walkover via, you look at bank of america, merrill lynch, and there are various places and you can see how many different subsidiaries are under these things, these mega-regional banks are not affected and multinational. host: another tweet, if the economy is so great, or interest rates so low? adding maybe because she many is -- maybe because cheap money is driving the fake market. guest: we had never seen were interest rates are so close to nothing. the fed has hesitatingly brought are they nearre normal. you pass by a branch of a bank, and they put up a sign, go get them, three-year cd at half a percent as if it is a favor, but the banks want, crave the normalized bond curve, where they can borrow cheaper on the short term and mend doubt higher on the long-term and pocket the difference. ain'te seen that approaching normalcy. we don't know what normalcy is since maybe 2005-2006. that is the big question for janet yellen. indepen

i give you richard frank. [applause] richard frank: thank you. thank you, rob, for that generous introduction. pleased thatlarly he did not accuse me of the dignified. [applause] -- [laughter] i was at the conference center a couple days ago, at the end of the conference, there were certain remarks and the explained that at centers, the british army trains lieutenants and he told us about how they have various tactical and other problems that they gave him, but the also like to talk about immoral issue into these problems. one recent exercise involved a scenario very much along the lines of the famous drop on the fortified battery on the night before d-day, it was heavily fortified and had heavy artillery that could threaten transport. it was for a plan for them to drop in and capture the battery. the scenario goes along to that point and instead of having over 700 troopers, the only have hundred 60, and then they suing this, this year, waiting at the rendezvous point, five french civilians appear what do do with them? the tenets come back and an

this week surrounded by leaders in the congress who have been working to reform if not repeal dodd-frank is just the beginning of that effort, and we're going to continue to work hard while we protect consumers along the way. we're going to continue to work hard to advance that kind of regulatory reform that'll make resources and loans available for a growing america. chris: right. but, mr. vice president, the market spoke on friday. the price of wall street firms, their stocks, rose sharply. and the fact is that two of the key players in revisiting the rules are going to be steve mnuchin, the treasury secretary, and white house adviser gary cohn, and they are both former top executives at goldman sachs. that sure sounds like you're aiming at wall street, not main street. >> well, but -- and, you know, i understand that, and we're proud to have both of those men involved in this administration to bring their expertise. but, look, the reality is that you can talk to small business owners across this country, and since the passage of dodd-frank, frankly, we've seen the availability of loan

scaling back the dodd-frank banking bill. banking sector is the big gain sense donald trump won the election. gary: bob diamond the former barclays ceo. an excellent tweak review everything that happened in washington and why the bank stocks have reacted so favably to what is happening. >> if you look at the equity valuations of global equities without financial rvices since the crisis. equity prices are up 100%. until the selection, financials were down 20% to 30%. so you are starting with a phenomenal valuation discount. that's why i think this will be sustainable for a while. i think discussion of rolling back the parts of regulation that have been not effective and by no means am i a proponent of rolling back all regulation. we can see there are portions of this that have been costly and ineffective and slowed the growth of banks. i think there is some wind in the sails here. trish: you couple that are higher interest rates and that's feeding this as well. >> i don't think there is any business that won't benefit from hig

when he was turned away, he retaliated and stabbed frank in the jugular, in the neck. >> reporter: frank was a long- time coach in san jose, a mentor to young men. many from humble backgrounds who needed baseball to keep out of trouble. >> frank did everything for those kids. he also set up friends for those who could not afford it, for those who didn't have gloves, who don't have the equipment but needed it. so we would set up fundraisers so these kids could

it not a rolling back of dodd frank. it just an executive order that is asking of the treasury secretary regulatory agencies to examine it and come back in the next few months with a list of basically regulations that the administration might see as burdensome. either way that's part of what is driving in the market on this day. it was issued by the present here dealing with the fiduciary role. it was put in place by the obama administration. was supposed to be rolled out in april dealing with client investment and brokerage accounts. the president also putting that on hold as well with the stroke of a pen today. just a little while ago from the white house. we are assigning the court principles to regulate the financial system. liz as you know it is a law which means if any of that main portions of it want to be change that well had to go through congress. if the white house would be working with congress on that there would be some legislative back and forth. i also asked him is a full repeal possible. he did not want

they moved to undo dodd frank this morning. and one of the rules that he's you cannot rollback is a fiduciary role and that was aimed at making sure that advisors in the best thing in terms of their interest for their clients. many has argued that it has hamstrung the very advisers. this is a table at center for many things to come in terms of them going and looking at the financial stability oversight council. to wind down the giant financial institutions. a lot of it. they haven't even finished writing the rules. it is so unwieldy like the proprietary trading rule is one. i do want to go to fiduciary status. whatever they do. a lot of companies are so far along the disc and a stick with it they're acting in their clients best interest but for regular folks out there with all due respect don't believe them. your advisor should be a fiduciary. this is very complicated stuff. it's easy to sell you a suitable product which is the oldest in appeared i talk to people all the time. his advisor put him in a rhode island 529 plan. if

since dodd-frank's been around. so this is also been a huge cost to the banks, which drives up the prices that they have to charge customers. so this is a real win for main street. wall street's rallying but it's a win for main street today. liz: your point's well taken. we have to go but some have argued, oh, the obama administration did create some jobs. these weird compliance jobs having to deal with regulatory bureaucrats vegetative universe out of dc right, jeff? >> it's true. those are the only jobs that have come out of the obama at all are bureaucracy. it grew the bureaucracy. and that's what we're going to roll back. president trump promised to roll back regulation. this is following through on yet another promise, and it's a great day for america as evidence by the stock market. liz: we love having you go on the show. please come back. >> thanks, liz. liz: next up, we have another terror attack in paris. this time at the world famous louvreuseum. it could have ended way worse. more people could have been h

. >> we expect to be cutting a lot out of dodd-frank. there are so many friends of mine who have nice businesses and they can't borrow money because of the rules and regulations of dodd-frank. we'll be talking about that in terms of the banking industry. and moment away... with every click...call...punch... and paycheck... you've earned your medicare. it was a deal that was made long ago, and aarp believes it should be honored. thankfully, president trump does too. "i am going to protect and save your social security and your medicare. you made a deal a long time ago." now, it's congress' turn. tell them to protect medicare. why pause a spontaneous moment? cialis for dailyse treats edand. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more th

but if he goes after dodd-frank. i think gary cohn is smart enough to know the stuff in dodd-frank that needs on taken out immediately. so that's a positive. taxes, we need more disclosure on exactly on what is his tax plan. does he do the business tax first? and the timetable of that. nafta is another story. one of the problems with trump is the friendsy of doing so much, you don't prioritize. one of the priorities the market was looking for is tax and regulatory reform right off the bat. >> you said you were talking to investors. and one of the reasons the stock market stalled out was this wasn't something -- so did they get what they wanted friday morning? >> i think if you look at the market, they got some of what they wanted. bank stocks responded positively. i just think it's one day and you have to see how this pans out. is there not a lot of daylight into what they are going to do. there is no daylight into what they are going to do with taxes yet. liz: paul ryan would say maybe by august. if they maybe cut c

regulations of dodd-frank. regulations of dodd-frank. we'll be talking about that in man: i wanted to start that i was passionate about. something i absolutely enjoyed and believed in. my name's steve allen. i run radcab in tulsa, oklahoma. starting a business can be incredibly confusing. score really helped me steer the course. from business-plan software to insurance, if you get a solid foundation laid, everything else falls in place. it really feels amazing to create jobs here in my city. i could not imagine doing anything else. get your free business mentor at score.org. and happiness♪ ♪but above all this i wish you love♪ ♪and i will always love you, i..♪ lou: a few thoughts on a country that is truly undergoing what someone once called a fundamental transformation. and this transformation started the day president trump was he atlanticed. he's the change agent he assured us all he would be in the campaign. he brings to the presidency the commitment to make america great again. not even the posh l

scaling back the dodd-frank banking bill. banking sector is the big gain sense donald trump won the election. gary: bob diamond the former barclays ceo. an excellent tweak review everything that happened in washington and why the bank stocks have reacted so favably to what is happening. >> if you look at the equity valuations of global equities without financial services since the crisis. equity prices are up 100%. until the selection, financials were down 20% to 30%. so you are starting with a phenomenal valuation discount. that's why i think this will be sustainable for a while. i think discussion of rolling back the parts of regulation that have been not effective and by no means am i a proponent of rolling back all regulation. we can see there are portions of this that have been costly and ineffective and slowed the growth of banks. i think there is some wind in the sails here. trish: you couple that are higher interest rates and that's feeding this as well. >> i don't think there is any business that won't benefit from h

one will direct the treasury secretary and regulators to come up with a plan to revise the dodd-frank law, which was put in place back in 2010 after the financial crisis. the administration says this will not undo the law. mr. trump will also force the delay of an obama arrow rule into prevent conflict of interest among retirement advisors. critics say the regulations a president is looking to scrap are supposed to help prevent another economic meltdown. meanwhile, we are keeping an eye on the u.s. stock market for you, look at that, the dow is back above the 20,000 mark, it is up 162 points are now. and according to the experts over on the fox business network, right now that is on pace for the best day, the best gain for the u.s. stock market in two months. we will keep watching for you, and we will bring you the executive action signing as soon as it happens. >> and a busy day with this fox news alert as well, we are awaiting the white house press briefing, where sean spicer, the press secretary, expected a comment on the administration's new sanctions against iran. you know this i

. >> we expect to be cutting a lot out of dodd-frank. there are so many friends of mine who have nice businesses and they can't borrow money because of the rules and regulations of dodd-frank. we'll be talking about that in liberty mutual stood with me when i was too busy with the kids to get a repair estimate. liberty did what? yeah, with liberty mutual all i needed to do to get an estimate was snap a photo of the damage and voila! voila! (sigh) i wish my insurance company had that... wait! hold it... hold it boys... there's supposed to be three of you... where's your brother? where's your brother? hey, where's charlie? charlie?! you can leave worry behind when liberty stands with you. liberty stands with you™ liberty mutual insurance afoot and light-hearted i take to the open road. healthy, free, the world before me, the long brown path before me leading wherever i choose. the east and the west are mine. the north and the south are mine. all seems beautiful to me. wheyou wantve somto protect it.e, at legalzoom, our network of attorne

in terms of regulation.we have some of the bankers here, there's nobody better to tell me about dodd-frank but we expect to be cutting a lot out of dodd-frank because we have friends of mine can't borrow money, they can't get

. >> hi everyone, i'm frank frank mallicoat. a restraining order is in effect for donald trump's travel ban. >> we are gauging reaction at sfo to the latest legal development >>> and super bowl weekend. preps are underway. >> we have a live look in houston in a couple of minutes. to talk about the big game and how fans are getting ready. pats and falcons will be going at it shortly. rain was falling last night. >> i think spitting was the meteorological term this morning. will we get a break? the weekends have been parity d cent. last weekend was pretty nice. rosemary orozco might be working on another nice one? >> ish. [ laughter ] i will see what i can do. we have more coming. we will dry out just some. we will not be in the clear. but, we are going to dry out just a little bit more as we get into the afternoon. giving you a live look over oakland. overcast skies and plenty to come around. we have the shower hitting the ground. let's look at storm tracker 2. we will view what is going on here at the moment. heading into the no

foras blamed dodd-frank keeping loan origination down, but loans have risen 75% since dodd-frank was enacted, and ending is at a 70 year high. the s&p financial sector got a trump bump friday on the news. up, trumpht, coming takes aim at tokyo, saying the yen is too weak. we look at what it means portions obvious meeting with the u.s. president later in the week. this is bloomberg. ♪ shery: this is "bloomberg markets: asia" i am shery ahn. honda shares rising after it boosted profit forecast for the second time this fiscal year. it sees operating profit at $7 billion, an increase of 21%, thanks largely to a weakening yen. trump has slammed japan's currency moves and called trade between the tubing countries unfair, but honda hopes prime minister shinzo abe will settle the issue this week. a chinese veteran dealmaker one step closer to buying a warehouse owner. he has won the backing of google logistics properties in his bid to buy the company. it would be the biggest buyout deal and asia. madetors are said to have nonbinding bids. glp shares jumped to a 20 month high. deutsche bank

. >> dodd-frank in 2010 kamd after chris dodd and barney frank in the wake of the financial crisis and of it a lot of different bills that became one and no part of the financial system it didn't touch. republicans have hated this from the beginning, said it was an overreach and preventing business from being done, it's really curtailing business. they wanted to get rid of this for a while. mitt romney campaigned on getting rid of it entirely. i think what we'll see in the executive order because it's a bill there's little that the president can do about it. seems he'll direct the treasury secretary to speak to the various agencies regulatory agencies that deal with everything to d with finances and have them lk at ways in which it can be rolled back. it's not clear whether they'll completely do away with the bill, try to pair it back. donald trump wants 75% reduction in regulation. coprobably get it by getting it all out of dodd-frank. we have to think about there are protections in dodd-frank including the consumer financial protection bureau which sean spicer was talking about. >> h

michael, we knew that he was going to look at dodd-frank. the fiduciary rule is probably the one thing that we knew may come but we didn't know the timing. michael: and you've heard some of trump's advisors talk about this rule as something they want to address, but trump himself had not explicitly talked about it. the fact that he's looking at it is somewhat new. this is something the industry was not a fan of, but it has been in the works for so long that some of the banks have made the changes already, or have pledged to make the changes already. it will be interesting to see if they roll some of those back, or go ahead with the moves they've already done. francine: from a european standpoint, if you are protecting your clients less, doesn't it mean you are getting rid of regulation or just trying to impose something that is better thought out? michael: i guess we will see. they're going to do the review and then this is one of those devil in the details situations. the industry would tell you that clientle would limit choice. it would de

frank act, -- frank act. president trump has called dodd frank a disaster and vowed to "dismantle it." he started down that road when he should -- issued a executive order and put two men, steve , who haved gary cohen spent a combined 42 years at goldman sachs, in charge of rewriting the roles -- rules for helping big banks at goldman. chair yellen, i know you and the fed spent an enormous amount of , so looking at actual data i want to follow-up on senator brown's questions and get your take on some of the administration's main reasons for calling dod frank and it -- a disaster. president trump said he hoped to frank lot out of dodd because friends of mine who have nice businesses can't borrow money." now, i am aware of the small business survey you cited earlier. but i am going to look at the bigger range of data. what does that a show about business lending since dodd frank was enacted in 2010? lending at this point, it has grown and exceeds since 2008 after declining. --e on inflation ingested inflation-a

says he wants to do a number on dodd/frank. will you be able to repeal dodd/frank? >> i certainly hope so, led by jeb henserling and others. that law has done so much damage at the local level. it's hard to quantify it all. i'm encouraged by that. by the way, number of things president trump has done on the regulatory side. you never know if the tax regulations are holding them back. we have to address both of them. >> kevin brady, ways and means. >>> a lot more done. lot more still to do ahead. live reaction from iran and the president's plan for more sanctions. >>> plus snap chat filing to go public, could be the biggest ipo in years. what you need to know. forget the game on sunday. jane wells found out just how much the pats and falcons players know about the marks and the economy, and one stock having a very ugg-ly day. stuck around for much more power lunch. door?ed, th cradeso i c pt deea cooror. hat t -appppt on thisw ly atd deea cooror. hat t anhiursupreed, harda an aipproyour weag gy te ooror. hat t anhiursupreed, harda an >>> another big headline today, s

frank, julie? >> all right, cristina, thank you. >>> and on ktvu.com, we will post the very latest on this developing story. you can also check for updates on facebook, twitter, and our ktvu mobile app. >>> now to more developing news out of the south bay where tonight, residents are being allowed to return home after water from coyote creek flooded three san jose neighborhoods. here is a look at the area where the evacuation order was lifted late this afternoon. it's an area in green including east julian street and east santa clara street and 24th and 28th streets. the area in orange, which includes east william street and south 19th street. that area is still under evacuation orders. two other neighborhoods in san jose also remain evacuated tonight. >> we have live team coverage, ktvu frank mallicoat spent the day at one of the evacuation centers. >> let's go to ann rubin live on the flooding, ann? >> and we are in the area off the road. and the water here has gone down just a few feet as you ca

i'm frank somerville. >> i'm julie haener. they issued a statement tonight saying the executive order is lawful in vowing to defend it in court. new at 10:00 ktvu jana katsuyama is live at san jose airport after she spoke with muslims at an emergency meeting in the south bay. jana? >> reporter: julie, tonight here at this airport and other airports nationwide this restrange order is in effect. and many muslims here in the south bay are relieved, but wear -- but weary. >> reporter: bob ferguson's victory on friday blocked nationwide enforcement of president trump's executive order signed january 27. that put a stop to immigration from seven majority countries. ferguson argued it caused hard and mandated discrimination joined by the state of minnesota. >> i said from the beginning it is not the loudest voice in a courtroom. it is the constitution. and that's what we heard from the judge today. >> reporter: the white house reacted issuing a statement saying the department of justice intends to file an emergency stay of this outra

it's killed small business lending, dodd-frank has. this agency should be abolished, as should dodd-frank. david: isn't this just the tip of the iceberg? >> the fat salaries are the tip of the iceberg. the problem is they force the banks to hire tens of thousands of compliance officers and you pay for that nonsense every time you walk up to an atm. david: that's right, by the way, e-mack, they're saying that we're saving all of this money, but bill makes a great point, we're paying for it. >> about the job, the government does create jobs in compliance, holy toledo, that's at play. but you know, mike makes a great point. these guys at scscb. they're paid more than the average bank employee, wow. david: it's impossible to get rid of a bureaucracy once it's created. >> absolutely, it's created by legislation, now the republicans control things, they can undo it by legislation. this agency has done enormous harm, unaccountable taking money not only out of the bank being system, but a kangaroo court. you have to pay them off or they have t

but if he goes after dodd-frank. i think gary cohn is smart enough to know the stuff in dodd-frank that needs on taken out immediately. so that's a positive. taxes, we need more disclosure on exactly on what is his tax plan. does he do the business tax first? and the timetable of that. nafta is another story. one of the problems with trump is the friendsy of doing so much, you don't prioritize. one of the priorities the market was looking for is tax and regulatory reform right off the bat. >> you said you were talking to investors. and one of the reasons the stock market stalled out was this wasn't something -so did they get what they wanted friday morning? >> i think if you look at the market, they got some of what they wanted. bank stocks responded positively. i just think it's one day and you have to see how this pans out. is there not a lot of daylight into what they are going to do. there is no daylight into what they are going to do with taxes yet. liz: paul ryan would say maybe by august. if they maybe cut cor

scaling back the dodd-frank banking bill. banking sector is the big gain sense donald trump won the election. gary: bob diamond the former barclays ceo. an excellent tweak review everything that happened in washington and why the bank stocks have reacted so favably to what is happening. >> if you look at the equity valuations of global equities without financial services since the crisis. equity prices are up 100%. until the selection, financials were down 20% to 30%. so you are starting with a phenomenal valuation discount. that's why i think this will be sustainablfor a while. i think discussion of rolling back the parts of regulation that have been not effective and by no means am i a proponent of rolling back all regulation. we can see there are portions of this that have been costly and ineffective and slowed the growth of banks. i think there is some wind in the sails here. trish: you couple that are higher interest rates and that's feeding this as well. >> i don't think there is any business that won't benefit from hig

dodd and frank can only be repealed by congress. if donald trump wants to do this, he needs to do it through his executive branch or through congress or both. there is absolutely no need for an executive order. it actually achieves nothing. >> you were talking about the consumer -- what's -- >> consumer financial protection bureau. hard name, tough name but really important. it was invented by elizabeth warren. she thought this all out to protect consumers. she went to be the head of, this if you recall, and all of the republican senators, every last one, stooped her from doing so. so a guy named richard cordier is the head. warren got the payback is now a senator and now she's in all the meetings. this one had no -- it didn't make sense when they fought it the first time and it doesn't make sense now. i think most consumers will say and realize that left to their own devices, financial services companies can be a little dangerous. we'd like a federal government entity with teeth able to protect us. so, the idea they're moving as on