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FBN’s Lou Dobbs on the impact of the Ex-Patriot Act on entrepreneurship, particularly in technology.
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But the news -- -- quite a stir from Washington to Silicon Valley.
Could this actually scare off entrepreneur -- in -- -- Lou Dobbs host of Lou Dobbs tonight is here.
-- great to be with you and I -- I can't imagine Silicon Valley.
Being quite so filled with true formula spirits that it would -- this kind of selling -- Washington DC disturb -- even for a moment but.
Let's examine that shall we I mean here's a guy who's got a dual citizenship.
We're that we're the folks who said -- circuit have a dual citizenship.
Olivetti's befriending the United States -- -- -- and then he went to Singapore he's from Brazil.
I -- a lot that.
You know he's gonna if he helped.
To whatever degree you -- -- how -- up create terrific little startup that's gonna make a few box.
So what when -- say thank you but once stood -- sure we're going around clarkin what you have to start here is really important -- Silicon Valley entrepreneurs and anybody with the entrepreneurial spirit doesn't scare that easily.
What had saffron is doing got -- Singapore get Cayne who cares the fact -- I don't know why -- -- -- -- -- -- -- -- -- -- Are now you can but -- that -- -- rescue find do what you want but this is still a great places it not to start a business you -- It's a pretty you know this is one of the things that drives me nuts -- I listened to these morons talk about well we're gonna have a RMB we're gonna have a one as the world reserve currency.
And our genius Brothers and sisters across the pond.
Talking about how the Euro they think should be replacing.
That dollar because they are so strong so sophisticated so -- -- except the united kingdom of course.
The fact is.
Their money is for lying to us right now we are talking about a ten year note -- we've discussed that it's headed to one and a half percent here.
I mean who are these idiots I -- and and no offense to senator Schumer who is a very bright -- but he's lost his mind on this issue.
-- for -- the United States what is wrong -- cut off also whenever you have that tax law that applies to one individual worsen or even a group of individuals like -- Alternative Minimum Tax eventually it ends up hitting millions does it not it you're exactly right in the other part of that is.
These guys the senate hasn't passed -- but just.
And over all 11100.
Days more than three years.
And they have time to do the boulder -- -- ex-TAC treeless there examining Jamie Dimon now in in -- -- -- Now who in the world is gonna -- the translation for that.
Jamie diamond banker with out here.
And United States senate.
Basically goof balls on the issue because they are the ones in charge of regulation they have no idea what risk is -- they have no idea of what the tier one capital apparently was.
That at chase I mean this is ludicrous and and there are talk.
Through -- -- though three days and hair but flip it around though Lou that the what's that thing that's what the Fed that came up with the bank stress tests which actually when you look at that weren't good idea because JPMorgan past they just got stressed.
And they will absorb these losses on -- They were also served so brilliant as to JPMorgan Chase did need a bailout and insisted that they take -- this is bull.
They have embedded regulators in those institutions the major money center banks.
There is no excuse for not understanding.
-- chase took a risk made stupid as Jamie Dimon said stupid sloppy mistakes.
That's his oversight.
That was implement a -- not in place but the fact is no one has heard here other than those who appropriately should be.
When risk goes -- Ended and now we've got people walking around clucking like -- That somebody actually lost money and my god there's trembling.
This is stupid.
And it is and it should be called precisely what -- news.
Overreaction.
And way too much -- yeah you just did call by the way.
You just did -- on record now.
You got Lou Dobbs -- thank you sir talk of Beirut which is more stupid this are calling Roger Clemens before.
But congress -- -- candidate.
That the -- requirements that there aren't this country is very got to grab hold of ourselves it's a popular thanks a lot.
