October 10, 2025 • 8 mins
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Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i
WATCH and SUBSCRIBE on:
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In a fiery endorsement of Treasury Secretary Scott Bessant’s call to dismantle Dodd-Frank, Chris Markowski celebrates a long-overdue stand against “too big to fail.” From the collapse of community banks to the unchecked rise of financial giants, he traces how decades of bad policy—from repealing Glass-Steagall to overregulating after 2008—crushed local economies. Markowski lays out a bold vision: break up the megabanks, restore real competition, and bring prosperity back to Main Street. A passionate Watchdog on Wall Street manifesto for a freer, fairer financial future.
Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608
Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i
WATCH and SUBSCRIBE on:
https://www.youtube.com/@WatchdogOnWallstreet/featured
In a fiery endorsement of Treasury Secretary Scott Bessant’s call to dismantle Dodd-Frank, Chris Markowski celebrates a long-overdue stand against “too big to fail.” From the collapse of community banks to the unchecked rise of financial giants, he traces how decades of bad policy—from repealing Glass-Steagall to overregulating after 2008—crushed local economies. Markowski lays out a bold vision: break up the megabanks, restore real competition, and bring prosperity back to Main Street. A passionate Watchdog on Wall Street manifesto for a freer, fairer financial future.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Take a damn blow torch to Dodd Frank.
Speaker 3 (00:21):
The Treasury Secretary of the United States, Scott Bessen channeled
channeled his inner Watchdog on Wall Street Chris Markowski.
Speaker 2 (00:30):
Yesterday, I am I can't believe it.
Speaker 3 (00:34):
I couldn't. I was like, yes, you know, it's one
of those things, you know, I'm starting. I'm pumping my fist.
I'm like, this is it? This is great. We need
more of this. So Scott Messent is given a speech
and he said, the purpose of Dodd Frank. For not familiar,
remember Dodd Frank was all of the god forsaken regulation
(00:58):
that was put into place after that Great Recession. The
purpose of DoD Frank was to end too big to fail,
but it ended up creating too small to succeed. How
long have I been saying this here? How long have
I been going off on this? He finished what he
(01:21):
was saying. The post two thousand and eight regulatory framework
entrenched the dominance of the largest banks by rewarding economies
of scale by lucrative lobbying operations in Washington. What followed
was a community bank bottleneck that left America's hometown's reeling.
(01:42):
The time has come for a community bank comeback. That's
why the president is re empowering heartland bankers by rolling
back the harmful regulations of his predecessor to drive growth
and prosperity on main street.
Speaker 2 (01:56):
Praise God.
Speaker 3 (01:57):
Yes, one of the things that again, you have to
go back for whatever reason, I can remember all this stuff.
You go back to the Donald Trump's two thy sixteen platform,
go back to his platform, the Republican platform that they
put forward whole section, whole section in breaking up too
(02:22):
Big to Fail in the big banks. I was again, yeah,
I was thrilled with this.
Speaker 2 (02:29):
On my show.
Speaker 3 (02:30):
I was like, this is great. This is something that
they have to move towards for whatever reason it may be. Okay,
you know, Trump got wrecked by the deep state in
his first term. Okay, he ran into I think he
I don't think he fully understood just how crooked and
(02:51):
how entrench some of the powers that are in Washington, DC.
Speaker 2 (02:54):
He didn't know, didn't know. That didn't happen. That didn't happen.
Speaker 3 (03:00):
The big banks are all mighty and powerful, too big
to fail.
Speaker 2 (03:04):
They are.
Speaker 3 (03:06):
If we went back, you understand, you want to talk,
you want to talk about a booming economy. Okay, picture this, Okay,
this is what I've run on. Okay, we're going back. Yeah,
we're going back. We're going back. We're going back. Pre
Graham Leech Blindly now Graham Leach Blily was a law
(03:30):
that got rid of Glass Stiegel, which allowed.
Speaker 2 (03:36):
And they knew it was coming. Okay.
Speaker 3 (03:38):
It was both Democrats and Republicans, both sides, okay, pushed
for this before it was even enacted. It was like
a foregone conclusion. It was one of the last things,
one of the last things that that Bill Clinton signed
into law before he left. I remember exactly where I
was standing when it. I would watch this thing, I'm like,
(03:58):
this is gonna be I was young, was a kid,
and I knew it was going to be a disaster.
Speaker 2 (04:02):
I worked on Walter and I knew exactly what was
gonna happen.
Speaker 3 (04:06):
And again, even prior to Grandly, before them, they were
already had everything in the works with travelers in city
getting together Sandy.
Speaker 2 (04:17):
While back in the day they were all, you know,
you understand.
Speaker 3 (04:22):
How how rich it made these awful I was there
was actually a maya culpa several years ago. I know
Sandy Wile had some sort of moment of clarity or
conscience and he realized he did a piece and they
didn't get a lot of press. Realize what they did
was wrong. Now let's go back. Remember, you know, you
(04:48):
can head down the wrong path and do something, but
you know you have to realize at some point in time, Okay,
this is wrong. Okay, I'm heading down the wrong I'm
gonna have to go back. Remember we said, you know,
we'll do the old line Monty Penny. I'm using Monty
Penny from Skyfallgy Teams tells James Bond sometimes the old
ways are best. Yeah, that's pretty much how we run
(05:10):
Markowski Investments. But anyway, neither here nor there.
Speaker 2 (05:13):
Let's go back. Let's go back.
Speaker 3 (05:15):
Let's go back to a piece of legislation. While we're
at it, we get rid of we get rid of
Dodd Frank, we get rid of Sarbanes Oxley, which is
another few thousand pages of nonsensical legislation that happened after
the dot com collapse.
Speaker 2 (05:29):
Okay, get rid of that. We go back to glass Stegel.
Go look up there. How long it is? What is it?
Speaker 3 (05:34):
Maybe thirty pages? Thirty pages? Pretty much worked for seven years,
pretty much worked. We break up, force the breakup, JP, Morgan,
bank of them.
Speaker 2 (05:50):
All of them.
Speaker 3 (05:52):
Well, all it's going to destroy value. Wrong, Okay, you
break those things up. The pieces are going to be
worth more as a whole.
Speaker 2 (05:59):
Just that simple.
Speaker 3 (06:01):
Okay, you want to be an investment bank, you'd be
an investment bank. Okay, you're gonna be an advisory you're
gonna be managing individual's money. You got to break that off. Okay,
you got to break that off. You got to be independent. Wow,
you think about all of the all of them moving
and grooving and things in the competition that would come
into this industry. We'd actually have better price clarity despite
(06:23):
all the blow ups, despite all the blowups during the
whole dot com thing. You got price clarity fairly quickly. Okay,
you figure it out fairly quickly. Which companies were junk
rather than Now we don't even know.
Speaker 2 (06:39):
We got all this.
Speaker 3 (06:39):
We had all this private equity nineteen thousand. Private equity
that gotta have portfolios. They're marking to market at some
valuation that nobody can even understand, no.
Speaker 2 (06:47):
Price clarity whatsoever. Go back, do it the right way.
Speaker 3 (06:52):
This the economy would be so dynamic, so much comp
but it may be fantastic the type of growth that
would see, the type the hiring boom that would take place.
It would be awesome, baby, to quote mister Vital, awesome.
(07:14):
This again Trump wanted to do in his first term.
It's not in the latest Republican platform. It was in
the twenty sixteen platform. Dust it off, Dust it off,
and do it.
Speaker 2 (07:30):
Do it.
Speaker 3 (07:31):
You know, I've given a lot of criticism the scops
and I disagree with them wholeheartedly on what they're doing
with terriffs. I think it's a mess, and hopefully we
can get some clarity moving forward. You know, I don't
know if we'll eventually end up ten to fifteen percent
across the board. Can we just do that, call that
a day and move on. But this, this would be great.
(07:58):
Watchdog on Wall Street dot Com
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Take a damn blow torch to Dodd Frank.
Speaker 3 (00:21):
The Treasury Secretary of the United States, Scott Bessen channeled
channeled his inner Watchdog on Wall Street Chris Markowski.
Speaker 2 (00:30):
Yesterday, I am I can't believe it.
Speaker 3 (00:34):
I couldn't. I was like, yes, you know, it's one
of those things, you know, I'm starting. I'm pumping my fist.
I'm like, this is it? This is great. We need
more of this. So Scott Messent is given a speech
and he said, the purpose of Dodd Frank. For not familiar,
remember Dodd Frank was all of the god forsaken regulation
(00:58):
that was put into place after that Great Recession. The
purpose of DoD Frank was to end too big to fail,
but it ended up creating too small to succeed. How
long have I been saying this here? How long have
I been going off on this? He finished what he
(01:21):
was saying. The post two thousand and eight regulatory framework
entrenched the dominance of the largest banks by rewarding economies
of scale by lucrative lobbying operations in Washington. What followed
was a community bank bottleneck that left America's hometown's reeling.
(01:42):
The time has come for a community bank comeback. That's
why the president is re empowering heartland bankers by rolling
back the harmful regulations of his predecessor to drive growth
and prosperity on main street.
Speaker 2 (01:56):
Praise God.
Speaker 3 (01:57):
Yes, one of the things that again, you have to
go back for whatever reason, I can remember all this stuff.
You go back to the Donald Trump's two thy sixteen platform,
go back to his platform, the Republican platform that they
put forward whole section, whole section in breaking up too
(02:22):
Big to Fail in the big banks. I was again, yeah,
I was thrilled with this.
Speaker 2 (02:29):
On my show.
Speaker 3 (02:30):
I was like, this is great. This is something that
they have to move towards for whatever reason it may be. Okay,
you know, Trump got wrecked by the deep state in
his first term. Okay, he ran into I think he
I don't think he fully understood just how crooked and
(02:51):
how entrench some of the powers that are in Washington, DC.
Speaker 2 (02:54):
He didn't know, didn't know. That didn't happen. That didn't happen.
Speaker 3 (03:00):
The big banks are all mighty and powerful, too big
to fail.
Speaker 2 (03:04):
They are.
Speaker 3 (03:06):
If we went back, you understand, you want to talk,
you want to talk about a booming economy. Okay, picture this, Okay,
this is what I've run on. Okay, we're going back. Yeah,
we're going back. We're going back. We're going back. Pre
Graham Leech Blindly now Graham Leach Blily was a law
(03:30):
that got rid of Glass Stiegel, which allowed.
Speaker 2 (03:36):
And they knew it was coming. Okay.
Speaker 3 (03:38):
It was both Democrats and Republicans, both sides, okay, pushed
for this before it was even enacted. It was like
a foregone conclusion. It was one of the last things,
one of the last things that that Bill Clinton signed
into law before he left. I remember exactly where I
was standing when it. I would watch this thing, I'm like,
(03:58):
this is gonna be I was young, was a kid,
and I knew it was going to be a disaster.
Speaker 2 (04:02):
I worked on Walter and I knew exactly what was
gonna happen.
Speaker 3 (04:06):
And again, even prior to Grandly, before them, they were
already had everything in the works with travelers in city
getting together Sandy.
Speaker 2 (04:17):
While back in the day they were all, you know,
you understand.
Speaker 3 (04:22):
How how rich it made these awful I was there
was actually a maya culpa several years ago. I know
Sandy Wile had some sort of moment of clarity or
conscience and he realized he did a piece and they
didn't get a lot of press. Realize what they did
was wrong. Now let's go back. Remember, you know, you
(04:48):
can head down the wrong path and do something, but
you know you have to realize at some point in time, Okay,
this is wrong. Okay, I'm heading down the wrong I'm
gonna have to go back. Remember we said, you know,
we'll do the old line Monty Penny. I'm using Monty
Penny from Skyfallgy Teams tells James Bond sometimes the old
ways are best. Yeah, that's pretty much how we run
(05:10):
Markowski Investments. But anyway, neither here nor there.
Speaker 2 (05:13):
Let's go back. Let's go back.
Speaker 3 (05:15):
Let's go back to a piece of legislation. While we're
at it, we get rid of we get rid of
Dodd Frank, we get rid of Sarbanes Oxley, which is
another few thousand pages of nonsensical legislation that happened after
the dot com collapse.
Speaker 2 (05:29):
Okay, get rid of that. We go back to glass Stegel.
Go look up there. How long it is? What is it?
Speaker 3 (05:34):
Maybe thirty pages? Thirty pages? Pretty much worked for seven years,
pretty much worked. We break up, force the breakup, JP, Morgan,
bank of them.
Speaker 2 (05:50):
All of them.
Speaker 3 (05:52):
Well, all it's going to destroy value. Wrong, Okay, you
break those things up. The pieces are going to be
worth more as a whole.
Speaker 2 (05:59):
Just that simple.
Speaker 3 (06:01):
Okay, you want to be an investment bank, you'd be
an investment bank. Okay, you're gonna be an advisory you're
gonna be managing individual's money. You got to break that off. Okay,
you got to break that off. You got to be independent. Wow,
you think about all of the all of them moving
and grooving and things in the competition that would come
into this industry. We'd actually have better price clarity despite
(06:23):
all the blow ups, despite all the blowups during the
whole dot com thing. You got price clarity fairly quickly. Okay,
you figure it out fairly quickly. Which companies were junk
rather than Now we don't even know.
Speaker 2 (06:39):
We got all this.
Speaker 3 (06:39):
We had all this private equity nineteen thousand. Private equity
that gotta have portfolios. They're marking to market at some
valuation that nobody can even understand, no.
Speaker 2 (06:47):
Price clarity whatsoever. Go back, do it the right way.
Speaker 3 (06:52):
This the economy would be so dynamic, so much comp
but it may be fantastic the type of growth that
would see, the type the hiring boom that would take place.
It would be awesome, baby, to quote mister Vital, awesome.
(07:14):
This again Trump wanted to do in his first term.
It's not in the latest Republican platform. It was in
the twenty sixteen platform. Dust it off, Dust it off,
and do it.
Speaker 2 (07:30):
Do it.
Speaker 3 (07:31):
You know, I've given a lot of criticism the scops
and I disagree with them wholeheartedly on what they're doing
with terriffs. I think it's a mess, and hopefully we
can get some clarity moving forward. You know, I don't
know if we'll eventually end up ten to fifteen percent
across the board. Can we just do that, call that
a day and move on. But this, this would be great.
(07:58):
Watchdog on Wall Street dot Com
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