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Here again -- tonight's markets have monsters Larry McDonald and John Brown Larry let me get into this housing issue review I mean doesn't matter how low it goes all the people out there that can actually qualify for a loan.
This drives me crazy because -- here but the here this in the press all the time than what people don't understand especially Washington in the starting to get the message from Washington.
It's it's like that the plumbing so the heart is pumping blood but the blood isn't getting through the body and -- that's the same thing low interest rates.
Low interest rates are low but people don't have access to loans because the securitization.
In the United States has been broken for three years there's been a -- break the strike -- the translation that is.
Hedge funds investors all around the world there were buying up these mortgage backed securities billions and billions of dollars a month -- have been not -- -- -- on strike.
Once that comes back.
Which a bill in Washington that's coming through -- Scott Garrett committee once that comes back.
And if they're probably -- years that'll bring back securitization and billions and billions of dollars.
Of loans can get to buyers that's what we need -- thing.
Alright Larry I -- wanted to get to this question that not on housing.
An op -- in the you know Wall Street Journal suggesting Britain.
Concentrate on reviving economic relationships John.
We've North America instead of Europe I think that's a good idea forget Europe.
Apps and learned I'd -- -- -- all my time in parliament in fact.
If I had a one -- is debate on the city institutions which was investigated by former prime minister Wilson.
Have a lot of interviews private interviews with him and I Austin this very question.
And he said the day in the mid sixties he when he was prime minister he proposed this idea to president Johnson.
Announced -- -- result what is that I compound on that but I'm wasn't there anymore and I mean it was a serious idea that Britain should actually join the United States has one or even up to four states depending on the negotiations.
We have strong cultural ties with America very strong legal particularly.
Well we have the onus approve your innocent until proved guilty which is totally different Europe we have paid this corpus protections totally different -- We have a -- system totally different Europe.
And we have a real rights of appeal which is much diluted in Europe.
And proof of that the graves of -- graves of British and American.
War dead lie next to each other almost all over the world an economic certainly show via an economic -- John very quickly it would also make sense.
Absolutely well look at the financial institutions of London and New York's Arabic -- -- maligned.
Not nothing like it anywhere else in the world the common language the everything -- in the basically the culture is the same.
And we have the same -- in nine Grimes -- same towels everything coming back a but -- -- democracy was restored in Britain.
Interpreted by the aid American revolution bid did revenues today -- been successful in the United States or Britain should join and catch up with.
-- -- the -- big bad John Brown thank you so much Larry McDonald thank you gentlemen for joining us today almost the -- thank you.
Systems are coming --