>> Stephen: HEY, EVERYBODY,
WELCOME BACK TO THE SHOW. FOLKS.
LADIES AND GENTLEMEN, YOU KNOW MY NEXT GUEST
AND HER WHITE BOARD FROM ASKING THE TOUGH QUESTIONS
AT CONGRESSIONAL HEARINGS. PLEASE WELCOME BACK
TO "THE LATE SHOW," CONGRESSWOMAN KATIE PORTER.
♪ ♪ [CHEERS AND APPLAUSE]
NICE TO SEE YOU AGAIN. I HAVE INTERVIEWED YOU BEFORE
BUT NEVER IN PERSON. OVER THE ZOOM.
YESTERDAY WE WERE TALKING ABOUT JUSTICE CLARENCE THOMAS AND THE
LATEST REVELATIONS ABOUT HIS ENJOYMENT OF THE HALF-MILLION
DOLLAR TRIPS TO THE SOUTH SEAS AND THE YACHT LIFE.
AS ONE WHO TALKS ABOUT ELITISM IN OUR GOVERNMENT, DO YOU HAVE
ANYTHING TO SAY ABOUT HIS PENCHANT FOR FINE CIGARS AND
MOUNTAIN RETREATS? >> Congresswoman Porter: I
THINK THE HYPOCRISY IS RICH. HE TALKS ABOUT ENJOYING THE RV
LIFESTYLE AND I WOULD PRESUME THAT HE DRIVES HIS RV TO THE
PRIVATE AIRPORT WHERE HE GETS ON THE PRIVATE JET TO GO TO THE
PRIVATE ISLAND. I THAT IT'S EVEN A PRIVATE RV.
>> Stephen: WHAT IS THE PRIVATE JET BUT THE RV OF THE
SKIES? >> Congresswoman Porter: IT
IS. HE IS LIVING THAT LIFESTYLE AND
MEANWHILE I'M IN A MINIVAN. >> Stephen: YES, WE'LL GET TO
THAT JUST A MOMENT. THE NAME OF YOUR BOOK IS CALLED
"I SWEAR: POLITICS IS MESSIER THAN MY MINIVAN."
[CHEERS AND APPLAUSE] YOU HAVE SERVED IN THE HOUSE
SINCE 2019 AND NOW YOU'VE ANNOUNCE THAT YOU'RE RUNNING FOR
THE SENATE. [CHEERS AND APPLAUSE]
WHY WOULD YOU WANT TO BE A SENATOR INSTEAD OF A
CONGRESSPERSON? YOU DON'T GET TO RAISE MONEY
CONSTANTLY AND YOU DON'T GET TO RUN FOR OFFICE EVERY TWO YEARS.
>> Congresswoman Porter: I THINK RUNNING FOR OFFICE IS THE
MOST FUN PART OF THE JOB THAT WAS A SURPRISE TO ME.
I WENT TO WASHINGTON, I WANTED TO BE A POLICY NERD AND I
THOUGHT I WOULD LOVE WASHINGTON AND I SAY IN THE BOOK OF THIS IS
TRUE, WASHINGTON, D.C., IS WHERE TIME GOES TO GET WASTED.
THE REALLY VALUABLE WORK I DO IS THE CAMPAIGNING, LISTENING TO
PEOPLE, KNOCKING ON DOORS, TOWN HALLS, ALL THAT STUFF,
KICKISSING BABIES AND PUPPIES AD THAT'S PURE JOY IN
WASHINGTON, D.C., IS THE PRICE YOU PAY FOR THE FUN OF
CAMPAIGNING. THE OTHERS SAY ABOUT WHY RUNNING
FOR THE SENATE, IN THE SENATE DO YOU TO SERVE HIM TWICE AS MANY
COMMITTEES. YOU GET TWICE AS MANY COMMITTEES
AND THAT'S DOUBLE ROASTED COFFEE.
DOUBLE ROASTED WHITE BOARDS. THINK ABOUT THE FORCE
MULTIPLIER. >> Stephen: DO YOU EVER FEEL
INSULTED THAT NO ONE IS TRYING TO BRIBE YOU?
>> Congresswoman Porter: YES, YES.
THINK HOW FUN IT WOULD BE TO TELL THEM OFF.
BUT THAT NEVER HAPPENS TO ME. WHEN I FIRST GOT TO WASHINGTON I
HAD SOMEBODY, LOBBYIST SAID OH, YOU'RE ONE OF THOSE.
>> Stephen: WHAT DID THAT MEAN?
COULD YOU I DON'T KNOW. I THOUGHT ATTRACTIVE, SINGLE
WOMAN. HE SAID NO, NO, SOMEONE WHO
DOESN'T TAKE CORPORATE MONEY AND I DON'T TAKE LOBBYIST MONEY
EITHER. HE SAID DON'T WORRY, WE'LL BREAK
YOU. AND HE HAS NOT.
HE HAS NOT. BUT THAT WAS A POWERFUL LESSON.
>> Stephen: YOUR KNOWLEDGE OF CEOs COMES BEFORE YOU WERE IN
CONGRESS, YOU WORKED IN BANKING REGULATION.
LET'S TALK ABOUT SILICON VALLEY BANK.
DO YOU SEE THAT AS A FAILURE OF REGULATION?
A, WHAT SHOULD THE GOVERNMENT BE DOING?
AND DO PEOPLE SEE THAT COMING? >> Congresswoman Porter: I
THINK IT IS A FAILURE OF REGULATION IN THE SENSE WE
MIGHT'VE BEEN ABLE TO PREVENT IT WITH BETTER REGULATION BUT PART
OF THE GOAL WITH REGULATION OF BANK FAILURES IS TO HAVE THEM
FAIL AS LEAST BADLY AS POSSIBLE. IT'S LIKE A STUDENT.
THE DIFFERENCE BETWEEN A D- IN AN F IN WHAT WE WERE TRYING TO
DO WITH BANKING REGULATIONS IS WHEN BANKS GET INTO TROUBLE TO
TRY TO MAKE SURE THEY FAIL IN A WAY THAT DOES THE LEAST DAMAGE.
WE PUT SOME GOOD REGULATIONS AND PLACE AFTER DODD-FRANK AND THE
FINANCIAL CRISIS. DECIDE TO ROLL THOSE BACK AND
THAT WAS THE TRUMP WHITE HOUSE, TRUMP CONGRESS.
TO BE CLEAR ABOUT 45 DEMOCRATS JOINED IN DEREGULATING BANKS THE
EXACT SIZE OF SILICON VALLEY BANK.
>> Stephen: MARTY FRANK MIGHT'VE BEEN ONE OF THOSE
PEOPLE. DOES THAT SURPRISE YOU?
>> Congresswoman Porter: PEOPLE GET TALKED INTO THINGS BY
LOBBYISTS. THEY GET TOLD WE DON'T REALLY
NEED THIS REGULATION. LET ME BE CLEAR, THE WHOLE POINT
OF BANKING REGULATION AS YOU HOPE YOU DON'T NEED IT.
I WILL TELL YOU THIS, WHEN IT'S YOUR MONEY IN THE BANK, ANY
MONEY, ANY BANK WHERE I HAVE MY MONEY IS A BANK THAT IS TOO BIG
TO FAIL AND I THINK MOST AMERICANS WOULD FEEL THE SAME
WAY. >> Stephen: LET'S GET BACK TO
THE BOOK."I SWEAR: POLITICS IS R THAN MY MINIVAN."
IT DETAILS YOUR LIFE IN CONGRESS AS A SINGLE MOM.
YOU SAY IT'S A BIT CONTROVERSIAL.
WHAT'S CONTROVERSIAL? >> Congresswoman Porter: THERE
IS THIS EFFORT AND POLITICS TO TRY TO PRETEND THAT CONGRESS IS
GLAMOROUS AND WE ARE POWERFUL AND IT'S ALL THIS REALLY
WONDERFUL, AMAZING THINGS IN THE TRUTH IS IT IS LIKE YOU'RE HOT.
YOU'RE LATE. YOU'RE SWEATY.
DON'T KNOW WHAT'S GOING ON. YOU'RE FLYING BACK AND FORTH AND
I THINK WE SHOULD BE MORE HONEST WITH THE AMERICAN PEOPLE.
CONGRESS IS A MESS AND THAT'S BECAUSE DEMOCRACIES KIND OF
SUPPOSED TO BE MESSY. THAT'S OKAY BUT WHAT'S NOT OKAY
IS LYING TO THE AMERICAN PEOPLE ABOUT IT AND PRETENDING THAT
IT'S ALL EASY AND CUT AND DRY BECAUSE THE TRUTH IS, IT'S HARD.
IT'S HARD TO GO TO WORK EVERY DAY WITH MARJORIE TAYLOR GREENE
AS A COLLEAGUE. [CHEERS AND APPLAUSE]
I MEAN, MOST PEOPLE WOULD JUST FIND A DIFFERENT CUBICLE,
DIFFERENT JOB. IT IS HARD TO COMMUTE
3,000 MILES TO YOUR JOB. IT'S HARD TO WORK IN AN
INDUSTRY -- BEFORE I WAS A POLITICIAN, I WAS
A PROFESSOR AND I ACTUALLY USED TO BE RESPECTED AND MY JOB.
ONE OF THE THINGS THE BOOK TRIES TO GRAPPLE WITH IS THE
LONG-STANDING -- CONGRESS HAS ABOUT THE SAME
POPULARITY AS THE AMERICAN COCKROACH.
I THINK WE SHOULD THINK ABOUT, WHY IS THAT?
WHY DON'T PEOPLE LIKE US? WHY DO PEOPLE TRUST US?
WE ARE NOT STRAIGHT WITH THEM ABOUT WHAT IT'S REALLY LIKE,
WHAT THE CHALLENGES ARE AND ABOUT WHAT WE CAN DO ABOUT IT.
>> Stephen: A COUPLE PEOPLE THAT YOU ARE RUNNING UP AGAINST
I HAVE ALSO INTERVIEWED. ADAM SCHIFF, BARBARA LEE.
DO YOU WANT TO SMACK THEM AROUND RIGHT NOW?
>> Congresswoman Porter: ABSOLUTELY NOT.
THE SENATE RACE HAS A POTENTIAL TO BE REALLY GOOD FOR CALIFORNIA
AND THE COUNTRY. IF WE DO THIS RIGHT, BARBARA AND
ADAM AND I WILL HELP TURN OUT VOTERS ALL AROUND THE COUNTRY
AND HELP ENERGIZE PEOPLE TO UNDERSTAND WHY IT'S SO IMPORTANT
THEY VOTE. THERE IS NO PATH TO A DURABLE
MAJORITY FOR CONGRESS THAT DOES NOT RUN THROUGH CALIFORNIA.
I AM GOING TO RUN THE SENATE RACE IN A WAY THAT NOT ONLY
SENDS ME TO THE SENATE BUT SENDS DEMOCRATS INTO THE MAJORITY FOR
YEARS TO COME. [CHEERS AND APPLAUSE]
>> Stephen: THAT WOULD BE CERTAINLY INTERESTING.
THAT WOULD BE AN INTERESTING CHANGE OF PACE.
I KNOW THAT THE REPUBLICAN PARTY HAS MANY FAILINGS, BUT ALL
PEOPLE ARE PEOPLE. WE ARE ALL JUST HUMANS.
WHERE DOES THE DEMOCRATIC PARTY FALL DOWN ON THE JOB?
>> Congresswoman Porter: FOR ME THE FACT WE DIDN'T PASS A
CONGRESSIONAL BAN ON STOCK TRADING WHEN DEMOCRATS WERE IN
POWER TELLS YOU SOMETHING ABOUT JUST WHO HAS AN INVESTMENT
PORTFOLIO AND WHO IS TRAINING STOCK.
DEMOCRATS AND REPUBLICANS WHO DON'T WANT TO GIVE UP THAT BIT
OF POWER TO EARN THE RESPECT AND TRUST OF THE AMERICAN PEOPLE AND
I THINK WE SHOULD CALL OURSELVES OUT, HOLD OURSELVES ACCOUNTABLE
AS DEMOCRATS FOR THAT. >> Stephen: CONGRESSWOMAN,
THANK YOU SO MUCH FOR BEING HE HERE.
HER NEW MEMOIR, "I SWEAR: POLITICS IS MESSIER
THAN MY MINIVAN," IS OUT NW. REPRESENTATIVE
KATIE PORTER, EVERYBODY! WE'LL BE RIGHT BACK.
