Jack Welch: $450 M. for Consumer Protection Is Too Expensive

Former GE CEO and legend of American enterprise Jack Welch talked with Charlie Rose about what Republican policies might work.

For starters, he’s not in favor of lavishing hundreds of millions of dollars on Elizabeth Warren and the new Consumer Financial Protection Bureau.

Welch: Do I cut that silly consumer protection agency’s budget when they gave that Harvard professor $450 million to run a consumer protection agency. Right out of the barrel! $450 million for a budget! Are you crazy?! You can’t do that!

Rose: You’re not in favor of consumer protection?

Welch: For $450 million as a budget?! … Maybe for $50 million.

Welch is also opposed to government handouts, and he believes Obama has been bad at creating jobs. Here’s the video: