Sunday, July 14, 2024
Hawai'i Free Press

Current Articles | Archives

Friday, July 16, 2010
VIDEO: Djou on CNBC Worldwide Exchange
By News Release @ 3:38 PM :: 13678 Views :: Maui County, Education K-12, Energy, Environment, National News, Ethics, World News, Family

DJOU ON CNBC’s “WORLDWIDE EXCHANGE” 

Washington, DC — Congressman Charles K. Djou (HI-01) appeared on the CNBC program “Worldwide Exchange” this morning to discuss, among other things, the flawed financial regulatory reform bill that passed the U.S. Congress, the ballooning national deficit and debt, and Congress’ failure to pass a budget.

CNBC.jpg

 

 

On the flawed financial regulatory reform bill: (Watch clip HERE)

“There’s no disagreement that there is some need for financial service regulation reform here in our nation. The problem is the bill that the Congress passed is at best inadequate and incomplete. I’m concerned that a large part of what triggered the financial meltdown we had in the fourth quarter of 2008 was from the housing market, and the fact that we did not reform Fannie Mae or Freddie Mac is a big gaping hole in this measure.

“Even worse though, this bill dramatically expands the size of our government and expands the reach of the government with further regulation, that’s not necessarily the right way to approach this. I think what we should have been looking at is dramatically reforming the bankruptcy code so we have an orderly liquidation of banks when they fail. I think it would have been a better approach to look at, rather than what the Congress put forward.”

 

What investors are saying to the United States Congress: (Watch clip HERE)

 

“I think the big concern out there is a lack of confidence in the American economy, and more importantly, the lack of confidence right now in the direction the United States Congress is taking our nation. The American people are very legitimately concerned about these ballooning budget deficits, enormous national debt, and the fact that the U.S. House of Representatives, for the first time in modern history, is failing to pass a budget this year.

“So there’s a lot we can do, there’s a lot of work that Congress needs to have done, and I think the investors are telling the U.S. Congress loud and clear that the current direction we’re taking our nation is wrong and we need to recalibrate.”

 

On Congress’ refusal to pass a budget: (Watch clip HERE)

 

“Since the modern budgeting rules were adopted in 1974, the U.S. House of Representatives—in every year—has at least passed some form of a budget. We’ve had continuing resolutions, but a budget sets the overall framework of how much we should spend and where. This year, for the first time since modern budgeting rules were adopted, we’re refusing to pass a budget, compounding already fiscally irresponsible behavior on Capitol Hill.”

 

On reckless spending in the past: (Watch clip HERE)

 

“What the previous Administration did was wrong. Running up a half-trillion dollar budget deficit is wrong. But you don’t make it right by running up a 1.5 trillion dollar budget deficit. And I also want to make the point here that what Warren Buffett is saying here is nice, but the real, true key marker is: ‘What do the American people feel?’ And what the American people see is the national unemployment rate approaching nearly 10%.”

 

On Chinese currency revaluation: (Watch clip HERE)

“I like the idea of Chinese yuan floating a little bit, but what I am concerned about here is the Chinese government is still seeking to intervene and manipulate its market, and—by extension of course—the U.S. market. Overall, the most important thing for individual Americans is what’s happening here in our own nation. The Chinese are important, but it’s not going to be nearly as important as what the U.S. Congress does.”

 

###

 

 

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii