Martin O`Malley in CBS 2015 Democratic primary debate

On Budget & Economy: Our economy was wrecked by the big banks of Wall Street

O'MALLEY: Our economy was wrecked by the big banks of Wall Street. And Secretary Clinton, when you put out your proposal on Wall Street, it was greeted by many as "Weak tea". It is weak tea. It is not what the people expect of our country. We expect that our president will protect the main street economy from excesses on Wall Street. And that's why Bernie's right. We need to reinstate a modern version of Glass-Steagall and we should have done it already.

CLINTON: For me, it is looking at what works and what we need to do to try to move past what happened in '08. And AIG was not a big bank. It had to be bailed out and it nearly destroyed us. Lehman Brothers was not a big bank. It was an investment bank. And its bankruptcy and its failure nearly destroyed us. So I've said, if the big banks don't play by the rules, I will break them up. And I will also go after executives who are responsible for the decisions that have such bad consequences for our country.

Source: 2015 CBS Democratic primary debate in Iowa Nov 14, 2015

On Corporations: It's crony capitalism to bail out banks for bad bets

Q [to Sen. Sanders]: Secy. Clinton says she will break up Wall Street that don't play by the rules.

SANDERS: Wall Street play by the rules? Who are we kidding? The business model of Wall Street is fraud. That's what it is. Wall Street representatives will not be in my cabinet. Wall Street today has enormous economic and political power. Their business model is greed and fraud. And for the sake of our economy, the major banks must be broken up.

O'MALLEY: There is not a serious economist who would disagree that the six big banks of Wall Street have taken on so much power and that all of us are still on the hook to bail them out on their bad bets. That's not capitalism: that's crony capitalism. That's a wonderful business model. If you place bad bets, the taxpayers bail you out. But if you place good ones, you pocket it.

Source: 2015 CBS Democratic primary debate in Iowa Nov 14, 2015

On Education: Goal of affordable & debt-free college, like in Maryland

SANDERS [to O'Malley]: In the year 2015, we should look at a college degree the same way we looked at a high school degree 50 or 60 years ago. If you want to make it into the middle class, the bottom line now, is in America, in the year 2015, any person who has the ability and the desire should be able to get an education, college education, regardless of the income of his or her family. And we must substantially lower, as my legislation does, interest rates on student debt.

O'MALLEY: I would agree with much of what Senator Sanders says. I believe that actually affordable college, debt-free college is the goal that we need to attain as a nation. And, unlike my two distinguished colleagues on this stage, I actually made college more affordable and was the only state that went four years in a row without a penny's increase to college tuition.

Source: 2015 CBS Democratic primary debate in Iowa Nov 14, 2015

On Education: Dad went to college on GI bill; kids went on pile of bills

Q: Q: Senator Sanders, you want to make public college free altogether. And you want to have the states pay for about 1/3 of this $70 billion plan, correct?


O'MALLEY: I respectfully disagree with Senator Sander's approach. I believe that the goal should be debt-free college. I believe that our Federal Government needs to do more on Pell grants. States need to stop cutting higher education, and we should create a new block grant program that keeps the states' skin in the game, and we should lower these outrageous interest rates that parents and kids are being charged by their own government. 7% and 8% to go to college? I mean, my dad went to college on a G.I. Bill after coming home from Japan, flying 33 missions. My daughters went to college on a mountain of bills. We were proud of them on graduation day, but we're going to be proud every month for the rest of our natural lives. It doesn't need to be that way. We can have debt-free college in the United States.

Source: 2015 CBS Democratic primary debate in Iowa Nov 14, 2015

On Foreign Policy: We should accept 65,000 Syrian refugees who are fleeing ISIL

Q [to Sen. SANDERS]: What's your view on Syrian refugees?

SANDERS: I believe that the US has the moral responsibility with Europe, with Gulf countries like Saudi Arabia to make sure that when people leave countries like Afghanistan and Syria with nothing more than the clothing on their back that, of course, we reach out. Now, what the magic number is, I don't know, because we don't know the extent of the problem.

Q: Gov. O'Malley, you have a magic number. I think it's 65,000.

O'MALLEY: I was the first person on this stage to say that we should accept the 65,000 Syrian refugees that were fleeing the sort of murder of ISIL, and I believe that that needs to be done with proper screening.

Q: 65,000, the number stays?

O`MALLEY: That's what I understand is the international request.

Q: But what would you want?

O`MALLEY: I would want us to take our place among the nations of the world to alleviate this sort of death and the specter we saw of little kids' bodies washing up on a beach.

Source: 2015 CBS Democratic primary debate on Syrian Refugees Nov 14, 2015

On Gun Control: Baltimore was safer with my comprehensive gun safety law

Q [to Sen. Sanders]: Would you reverse gun manufacturer immunity that you voted for?

SANDERS: Let's do more than reverse the immunity. I have voted time and again for background checks. I don't know that there's any disagreement here.

O'MALLEY: Oh, yes there is. I think we do need to repeal that immunity that you granted to the gun industry. We have a lot of work to do and we're the only nation on the planet that buries as many of our people from gun violence as we do. SANDERS: I think it's fair to say that Baltimore is not now one of the safest cities in America

O'MALLEY: But it's a lot safer. It's saved a lot of lives along the way, Senator.

Source: 2015 CBS Democratic primary debate in Iowa Nov 14, 2015

On Homeland Security: Nature of warfare has changed: focus on intel, not armies

Sen. SANDERS: We're spending over $600 billion a year on the military and yet, significantly less than 10% of that money is used to be fighting international terrorism. The Cold War is over. And our focus has got to be on intelligence, increased manpower, fighting international targets.

Gov. O'MALLEY: The nature of warfare has changed. [The war on terror] is not a conflict where we send in the third divisions of Marines. This is a new era of conflict where traditional ways of huge standing armies do not serve our purposes as well as special ops, better intelligence and being more proactive.

Secretary CLINTON: We do have to take a hard look at the defense budget and we do have to figure out how we get ready to fight the adversaries of the future, not the past. But we have to also be very clear that we do have some continuing challenges.

Source: 2015 CBS Democratic primary debate in Iowa Nov 14, 2015

On Immigration: Our symbol is the Statue of Liberty, not a barbed wire fence

Q: Republicans say securing borders is a top priority.

O'MALLEY: We've actually been focusing on border security to the exclusion of talking about comprehensive immigration reform. In fact, if more border security--and more and more deportations-- were going to bring our Republican brothers and sisters to the table, it would have happened long ago. The truth of the matter is, net immigration from Mexico last year was zero. Fact check me. Go ahead. Check it out. But the truth of the matter is, if we want wages to go up, we've got to get 11 million of our neighbors out of off the book shadow economy, and into the full light of an American economy. That's what our parents and grandparents always did. That's what we need to do as a nation. Our symbol is the Statue of Liberty. It is not a barbed wire fence.

CLINTON: It is a fact that the net immigration from Mexico and South has basically zeroed out.

Source: 2015 CBS Democratic primary debate in Iowa Nov 14, 2015

On Jobs: Maryland was first state to pass a living wage of $10.10

Sen. SANDERS [to O'Malley]: You have no disposable income when you are make $10 or $12 an hour. When we put money into the hands of working people, they're going to go out and buy goods & services and they're going to create jobs in doing that. I believe that over the next few years, not tomorrow, but over the next few years, we have got to move the minimum wage to a living wage, 15 bucks an hour.

O'MALLEY: This was not merely theory in Maryland. We actually did it. Not only were we the first state in the nation to pass a living wage. We were the first to pass a minimum wage.

Q: You're calling for a $15 an hour wage now but why did you stop at $10.10 in your state?

O'MALLEY: $10.10 was all I could get the state to do by the time I left in my last year. But two of our counties actually went to $12.80 and their county executives would also tell you that it works. The more our people earn, the more money they spend, and the more our whole economy grows. That's American capitalism.

Source: 2015 CBS Democratic primary debate in Iowa Nov 14, 2015

On Tax Reform: Wealthiest should pay more but not as much as under Reagan

Q [to Sen. Sanders]: Let's get specific. How high would you go on tax rates? You have said before you would go above 50%.

SANDERS: We haven't come up with an exact number yet, but it will not be as high as the number under Dwight D. Eisenhower, which was 90%. I'm not that much of a socialist compared to Eisenhower. But we are going to end the absurdity, as Warren Buffet often reminds us, that billionaires pay an effective tax rate lower than nurses or truck drivers. That makes no sense at all. There has to be real tax reform, and the wealthiest and large corporations will pay when I'm president.

O'MALLEY: May I point out that under Ronald Reagan's first term, the highest marginal rate was 70%. And in talking to a lot of our neighbors who are in that super wealthy, millionaire and billionaire category, a great numbers of them love their country enough to do more again in order to create more opportunity for America's middle class.

Source: 2015 CBS Democratic primary debate in Iowa Nov 14, 2015

On War & Peace: ISIS is an evil in this world; deal with them as evil

Q: Should the US lead the response to ISIS?

O'MALLEY: This actually is America's fight. It cannot solely be America's fight. America is best when we work in collaboration with our allies. America is best when we are actually standing up to evil in this world. And ISIS, make no mistake about it, is an evil in this world. And we do have a role in this. Not solely ours, but we must work collaboratively with other nations. The great failing of these last 10 or 15 years has been our failing of human intelligence on the ground. Our role in the world is not to roam the globe looking for new dictators to topple. Our role in the world is to make ourselves a beacon of hope, but also to confront evil when it rises. We took out the safe haven in Afghanistan, but now there is, undoubtedly, a larger safe haven and we must rise to this occasion in collaboration and with alliances to confront it, and invest in the future much better human intelligence so we know what the next steps are.

Source: 2015 CBS Democratic primary debate in Iowa Nov 14, 2015

The above quotations are from CBS Democratic primary debate, in Iowa, Nov. 14, 2015.
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