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. >> reporter: steve and julie weber, who owned an explorer, objected at the time. >> you had to knowwithin a year you'd beurchasing a new car. and secondly, you would have to purchase that car within a year. because the coupon then expired. >> reporter: the lawyers claimed the coupons would be worth 300 to 500 million dollars to consumers. but so far only 75 consumers have redeemed their coupons, for a total benefit of $37,500. and how much did the lawyers make? $25 million. professor john simms, who represented consumers against the settlement, calls it an abuse of the system. >> the lawyers were able to hijack the case and use it to earn $25 million for themselves even though they didn't get anything that was worth anything for their clients. >> reporter: auto safety expert clarence ditlow initially supported the lawsuit but changed his mind. >> so the consumers -- they just got nothing out of it. the attorneys got $25 million. >> reporter: the lawyers declined to be interviewed but said they did their best. they said they were disappointed so few consumers used the coupons but tha
. >> reporter: steve and julie weber, who owned an explorer, objected at the time. >> you had to knowwithin a year you'd beurchasing a new car. and secondly, you would have to purchase that car within a year. because the coupon then expired. >> reporter: the lawyers claimed the coupons would be worth 300 to 500 million dollars to consumers. but so far only 75 consumers have redeemed their coupons, for a total benefit of $37,500. and how much did the lawyers make? $25 million....
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>> they said i was a blaming the jews for their own fate instead of the whole e weber a scheme in turns of. >> in terms of a rescue. in fact, had a problem with my own parents, who were survivors from the trains to treblinka who thought i was revealing something that should not be revealed. >> host: i do remember the storm of controversy and there were articles coming out. and yet here we are today and it seems as if the jewish community is much more open to it. >> they are open because of course, i have been established in the jewish community, my credentials fight for jewish causes in justice and holocaust manners is now well established. back when i wrote this book originally the zionist organization of america canceled the publication of their american in the american scientist and had a cover story but today the head of the zoa has read the book and endorsed it as a sensitive. >> host: what took you into this line of research? it was your first book? >> guest: it was my first book and prior to that i was a local investigative reporter and had done some international undercover inve
>> they said i was a blaming the jews for their own fate instead of the whole e weber a scheme in turns of. >> in terms of a rescue. in fact, had a problem with my own parents, who were survivors from the trains to treblinka who thought i was revealing something that should not be revealed. >> host: i do remember the storm of controversy and there were articles coming out. and yet here we are today and it seems as if the jewish community is much more open to it. >> they...
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Jan 17, 2010
01/10
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in their interest to buy the securities so what was happening is, merrill lynch, goldman sachs of weber were buying all of these mortgages from florida, california whereever turn them into securities incense them to europe to sell them to german bankers. it was very clever while the last. it was very lucrative. i think we are out of town so thanks very much everybody for showing up. if anybody would like to buy a book, i would be happy to sign it. john cassidy writes for "the new yorker" and sifry krin kojeve gidget to the new york review of books. he is the author of.com how america lost its mind in money in the internet era. for more information visit u.s. macmillan.com/how markets fail. >> every year the national press club has an authors night. tonight author of 14 books including warriors of god and god's of war. he is a new book about called attenders a faith charles the feth in the battle for europe, 1520 to 1536. let's start with the basic question, who is charles the dip then who was sulemon the magnificent? >> charles v was the holy roman emperor ansel leamond the magnificent
in their interest to buy the securities so what was happening is, merrill lynch, goldman sachs of weber were buying all of these mortgages from florida, california whereever turn them into securities incense them to europe to sell them to german bankers. it was very clever while the last. it was very lucrative. i think we are out of town so thanks very much everybody for showing up. if anybody would like to buy a book, i would be happy to sign it. john cassidy writes for "the new...