Trump Sets Up Next Great Recession - YouTube

FOR ALL OF THOSE REASONS AND MORE,

IT NEEDS TO GO ACCORDING TO

REPUBLICANS.

SO THEY WILL LAUNCH THIS INVESTIGATION INTO HOW IT CAN

BE PARED BACK, YOU WILL SEE DONALD TRUMP EARLIER TODAY LAYING

OUT WHY THIS NEEDS TO HAPPEN, IN THE WAY HE TALKS ABOUT IT THERE

IS NO ATTEMPT TO HIDE THE PERSONAL INTEREST AND CORRUPTION

INHERENT IN HIS APPROACH AND YOU WILL SEE IT IN THIS VIDEO.

TO WHAT WE HAVE TO DO IN TERMS OF REGULATION, WE HAVE SOME

BANKERS HERE, THERE IS NO ONE BETTER TO TELL ME ABOUT DODD-FRANK, THE WE

EXPECT TO BECOMING A LOT OUT BECAUSE FRANKLY THERE ARE SO MANY

PEOPLE, FRIENDS OF MINE, THAT HAVE NICE BUSINESSES THAT CAN'T

BORROW MONEY BECAUSE THE BANKS JUST WON'T LET THEM BORROW BECAUSE

OF RULES AND REGULATIONS SO WE WILL BE TALKING ABOUT THAT.

GENERALLY WHEN THE SORT OF DEREGULATION GOES ON WE

UNDERSTAND THEY ARE DOING IT FOR THE DONORS AND PEOPLE INSIDE THE

BUBBLE BUT THEY ALWAYS PITCH IT AS BEING FOR THE NATIONAL GOOD,

BUT HE SAID I HAVE FRIENDS WHO HAVE BUSINESSES WHO CAN'T GET

MONEY FOR BANKS, THEY NEED TO CHANGE IT SO THEY CAN GET MONEY.

THERE IS AN INTERESTING DISCONNECT BETWEEN THE MESSAGING DONALD

TRUMP PUTS OUT AND THE MESSAGING OF SEAN SPICER, BECAUSE SEAN

SPICER, THE PRESS SECRETARY, HAD A PRESS CONFERENCE ABOUT THIS

AND I THINK HE DID A GOOD JOB IN MAKING IT SEEM LIKE THIS IS

FOR CONSUMERS, WE ARE LOOKING OUT FOR AVERAGE AMERICANS.

BUT DONALD TRUMP CAN'T HELP HIMSELF, BECAUSE HE'S NOT AS --

I DON'T KNOW, HE'S NOT AS GOOD AT HIDING WITH THE UNDERLYING ISSUES

ARE, OR UNDERLYING INDIVIDUALS WHO WILL BENEFIT FROM DEREGULATION.

HE IS LIKE I'M LOOKING OUT FOR THE BANKERS WELL SEAN SPICER I

THINK HAVE TO DO SOME CLEANUP AND DAMAGE CONTROL.

AND ALSO HE'S A WEALTHY NEW YORKER AND ON HIS LEFT THERE

WITH STEVE SCHWARTZMAN, HEAD OF THE BLACKSTONE GROUP, ONE OF THE RICHEST

MEN IN THE WORLD, WAS ALSO SOMEONE WHO IS REALLY CRITICAL OF

DODD-FRANK AND FINANCIAL REGULATION, WHEN ALL THIS STARTED UNDER

THE OBAMA ADMINISTRATION HE WAS CRITICAL.

AND IT MAKES IT DIFFICULT FOR THEM TO BORROW MONEY SO IT FORCES

THEM TO GO TO PLACES LIKE RUSSIA TO BORROW MONEY IN ORDER TO MAKE

THEIR BUILDINGS HAPPEN -- THAT'S WHAT A LOT OF PEOPLE THINK.

IT WAS SO DIFFICULT FOR TRUMP TO BORROW MONEY IN AMERICA

BECAUSE OF HIS HISTORY OF BANKRUPTCY, THIS IS SPECULATIVE,

THAT HE WENT TO RUSSIA, AND THAT IS WHY HE'S NOT SHOWING HIS TAXES.

WE REPORTED ON THAT.

HE ALWAYS TALKS ABOUT I HAVE FRIENDS HERE, HIS MUSLIM FRIENDS,

REMEMBER THAT?

I BUY THAT HE HAS BANKING FRIENDS THAT ARE MUSLIMS.

BUT THERE IS NEVER A SPECIFIC, WHERE HE SAYS STEVE

SCHWARTZMAN, ONE OF THE RICHEST MEN IN THE WORLD, HAS HAD TROUBLE

BORROWING MONEY, I DON'T BELIEVE THAT.

AND

WE KNOW THE MAKEUP OF HIS CABINET, WE HAVE THE RICHEST CABINET POSSIBLY

IN WORLD HISTORY FOR ANY GOVERNMENT, HE'S GOING TO PURSUE THEIR INTEREST.

THIS IS A GUY LABELED AS A POPULIST, WHO WILL DO WHAT IS NECESSARY

TO HELP OUT THE REGULAR PEOPLE.

OF COURSE NOT, HE WILL SURROUND HIMSELF BY THE WEALTHIEST

PEOPLE IN THE COUNTRY AND WORK TO ADVANCE THEIR INTERESTS.

YOU SAW IN THE BEGINNING OF THAT VIDEO A SPECIAL BIT OF IRONY,

HE'S TURNING TO JAMIE DIAMOND, THE BEST EQUIPPED PERSON TO

EXPLAIN BANKING --