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Freedom Fighters Liz Claman, Sascha Burns, and Jacob Hornberger on the Fed’s latest “solution” for preventing another crisis.
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Government has granted 1433.
Waivers for obamacare.
And fewer than 100 waiver applications have been denied.
Outlet the White House party is coming to -- After September there won't be any more waivers granted -- about for the government sets.
If it has already given all of its friend and -- friends and supporters have asked does this new hardline approach really matter.
Here now to discuss in my freedom fighters Fox Business Network at Fox Business Network anchor of sorry has not brought my colleague let's blame the democratic strategist Sacha -- And future Freedom Foundation.
Founder and president Jacob ohrnberger.
Why the president sign on to a law that gives them the power ms.
burns to exempt so many people from the -- on how to -- decide who to exempt.
-- -- The Republicans -- -- and three congressional investigation and had what does it follow the Republicans.
Sought a Republican voted for this law they have all said that there's nothing untoward about the companies that have been granted to labor what kind of -- law.
Is this is everybody wants an exemption from any gives it to people from as desperate as Chris Christie.
-- conservative Republican governor of New Jersey to the head of UAW in Detroit.
14100 it.
That's not very many companies -- thousands and thousands that we have well what additional kind of comment of 15100 -- asked for.
It's well that's true but -- thousands of companies that there are in the country it's about companies that have transient workers.
Or have other reasons that makes sense for them.
To not be able to comply with the regulations until the subsidies for the tax credit to that sort of thing and what.
As the effect on Wall Street in the Wall Street community.
When there's a law that nobody seems to like but they all think there's a way that -- that well obviously they're going to be people who game the system -- -- I would look at this and I would say you know what.
These are companies that good game the system or they felt that they needed this at this point I'm Sasha I think that war there are millions of companies out there who could've applied for this waiver but they didn't they felt it was OK my problem with that.
Is it you had people rushing this into getting these waivers like -- -- -- Beatles reunion concert or something and all of a sudden yet people.
Opting out of this what does that say about sort of the -- But it may cost too much to comply except that the numbers are relatively small when you look at how many companies are out there Jake what -- Says tell you about a statute when the president decides who can be exempt from the statute.
What about equal protection under the law what about the faithful enforcement of the -- I've never heard of a statue like this we -- go to your friend of the white -- and he says don't worry you don't have to comply with that.
-- this is a perfect example of the rule of man rather than the rule of law.
It's a battle hallway all acknowledged that but it's the law and auto applied it everyone across the board that's what's fair.
Now he got this campaign season.
Where the president's handing out the goodies and the people that receive the goodies what incentive do -- now have to get this law repealed.
So the rest of it at that the ad business -- have to suffer under the law while the -- get out of it but kind of justice is that.
It's the decision to grant a waiver to someone like governor Christie no friend of the president -- about a personal level obvious -- -- on a political political level.
Intended to keep governor Christie or folks like him -- -- highly critical of this and don't -- to have to comply with it -- Day.
For awhile while the president asks in whatever -- -- and to increase his poll numbers.
When nine Chris do you think that that wouldn't be enough to keep them on -- put him on Obama's it's a bad example that you understand -- understand like to say.
Note this only applies to companies that provide a maximum of 101000 well so yes it -- did very list arrow -- one of the one of the entities local governments right.
Right the state of New Jersey does not have to begin constructing.
The medical insurance exchange as early as the other states I think four states were granted exemption.
So 46 at the start right away and Ford don't have a decide who does and who doesn't.
They choose.
According to what they see as the criteria and what I know is that the GAO is completely nonpartisan it went in it did and audit pattern and it said that -- -- -- -- about mcdonalds with hundreds of thousands of employees or also the small boat company that got the exemption so you can't just summarily say friends of the president kind of thing -- -- an amount that's -- there.
I think these are companies that looked at it and said we need the waiver to figure this out and again.
It doesn't look good that people are applying for this waiver because it makes one or whatever but if you worked so stringent that it was one size fits all.
It get criticized for that -- Except that's what the constitution requires -- -- -- -- getting myself the last word.
If you haven't -- and I think.
That's the Federal Reserve of New York on the Office of the Comptroller of the Currency -- teamed up to prevent another US financial collapse so they say.
They're doubling the number of embedded regulators -- big banks.
To keep a closer eye on their activities but is that a proper model of regulation have government agents watching over your chart looks at chart.
Shows that the number of federal agents inside the banks have increased every year Jacob Warburg have you ever heard -- -- And anything like -- -- like having an IRS agent with you -- -- dining room table as your filling out your tax forms.
Well I have heard about it they do it in Cuba they have let -- neighborhood monitors and monitor buys activity.
And that is -- showed you this is the nanny state gone wild.
Where they've the government purports to take care must protect this and that has -- -- now running banks and nothing's gonna change.
You know so we're gonna have the scandals and the frauds.
For a for a while -- -- -- -- federal agents have been present but now their presence will really be felt.
A because Dodd-Frank -- is so much heavier and -- because there's now so many more of them but the public is becoming aware of -- does the public want federal agents inside banks telling the bank has had to do their business.
-- well I I think I think they did that that that that's what the paternalistic state has inculcate in the American people.
We want the government to take care of us.
Whether it's what we're doing in our homes -- what we're doing our banks.
Do you want a federal agent in your business making sure you fill up the paper work the way the federal agent want to -- them.
I would assume it's a small business and that the banks and the financial industry had ten years to police themselves and build -- -- -- -- that the Fed can send their people of any bank they want it doesn't have to be.
Doesn't to be sitting back and begin.
You can be mob cost savings and loan.
Right but it's not I mean it's the biggest banks -- -- -- -- right now.
And when you talk about doubling the number is.
We're gone from a couple thousand OK to -- about ten or message does this send that the bank the same it listen it's the same under several different administrations during Fannie Mae's growth okay both Republican and democratic presidents there were 200.
People.
Paid to police Fannie Mae and Fannie -- still blew up.
This is not going to work necessarily however I would argue that yes I agree with -- that it that the people do want this because there -- now suffering.
Millions of people jobless.
Because the banks didn't police themselves and didn't look at their own risk properly just -- fifteen seconds I didn't think Democrats like Big Brother -- -- -- Republicans.
Definitely don't like Big Brother.
But it's like that's would ask these federal agents are there Big Brother right they're sitting next and the alternative would be the banks being allowed to fail Aaron -- -- -- the government can save the banks Jacob ohrnberger -- burns -- claimant thank you for joining us.
Back with the GOP's change of heart on farm.
