it was absolutely nothing and the enron case, the whole enron task force, every case they actually triedt it took to try was reversed in some part, in whole or in part for some form of prosecutor overreaching. >> we started with a view that talked about political opponents and people were disfavored and targeted for that reason. in this case you see prosecutors going after corporate folks who may be unpopular at times. the problem is you may be unpopular at some point. david knows this better anyway else. prosecutors have gone after gun owners in a lot of cases. and in those cases you're not always protected by a vigilant judge in the courtroom because there may be a mandatory minimum applies that takes away the judges discretion to bring justice. there's a case in florida we've been following, a 22-year-old guy came out of the park was being harassed by bunch of people as he tried to leave. he was with his girlfriend. he was an lawful gun owner. he felt threatened for his life. he did want to hurt anyone but he wanted to remove himself from the situation. he took his gun out, he fired s

it was about enron, went bankrupt because of corrupt accounting.ard the idea of a basket of companies but what did enron really do? it defrauded investors because it was corrupt company, many went to jail. i don't have a solution for that kind of individual stock risk and etf doesn't do it and more investors wanted to have sector exposure because they thought the sector was going higher and they didn't want to take the risk they might be playing to play it with the wrong stock. again, when i find this reasoning to be sick lcircular, the best name in a sector growing. you don't want to be in a group that will pull down the high quality stock you've chosen. what's really going on here? i think the move of the financial industry. so there are all sorts of etfs from wind power to european stocks and exposure to cybersecurity, biotech, retailers. again, i rebel against these. if you think you can pick the best, i suggest you might not know enough about the sector to begin with. so if you can't pick them, can't pick the best, you know, you're going to be

to say this is bush's fault, and enron's fault, and it was -- was rich people or wall street that did this. there was a difference in -- i don't know how to explain that other than i don't need any other background other than secure the border, we want the better secured. that's not a slogan. john: it's a slogan earring mob, not a violent mob. >> it's the image that is important. all of this is described in my book, post the french revolution where all of this came, from the nazis are now and the stalin. john: from the french revolution? >> that was the first real manifestation. there is no connection between the french revolution and the american revolution, they were just peasants running around. >> the french revolution is like the democratic mob? >> much more like that, in the sense it's always to the barricades, where occupy wall street, the worship of rulers which you absolutely do not see on the right. nobody worships george bush. and i don't say that in a bad way. john: the way people worship obama. >> the way they worship clinton. have you people writing sex dreams about obam

upon thetainly do look hope for as the best bringing enron into -- of an into the position of being a responsible, nuclear, non-armed country. we supported the deal and we support it now. i'm not sure where the american position has landed on it at the moment. we will be seeking to convince the administration that this isn't the right to deal to do. lot of onuse is a on the ukrainians themselves -- iranians themselves to make of themost of the freedoms -- listing of some of the restrictions that it exhibits five and in bodies. that i expect-- has a way to go. -- some of the restrictions that embodies.ts and in that when you ask the question, can you therefore see you ron behaving more nponsored believe -- irann behaving more responsibly, i think the answer to that is not very much. i think the situation in syria is no extreme and they haven't chosen to play in that arena in a way that means we cannot see just now. i think it will be for the next ran ision to work out if i living up to its side of the bargain. >> ambassador. >> thank you. i used to be at a nato. can i press you a bit m

everyone remarked on how successfully he had done on enron around the press using television. president trump has done the same thing using twitter, he has managed to break out of constraints that presents either choose to impose on their communication, because they want more elegance. charlie: he is on it to his own detriment, many would argue, including people within his own close advisers, who, because it takes them off message and creates a whole distraction. that does not allow for what may have been after that speech, a positive. steve: think every political consultant in the country would agree with that. disconcerting that the power of that platform, the way he uses it to reach into your pocket, you wake up in the morning, flickr phone on, there is the president of the united states saying, look what he is done again! strategy ofopulist being able to speak directly to without gatekeepers, advisers, consultants, that has been his conceit throughout. he is a professional entertainer. he knows how to control a stage and a live set, he knows how to use competition to creat

whether it be the enron corporation or what's gone on in terms of collusion between russia and the trumpistration, you have to keep going. >> you think sally was right, what she said about watergate? >> at the very beginning, she's absolutely right and she was there. carl bernstein, also your guest tonight and bob woodward, were regarded as lowly police reporters pursing a third-rate robbery and they were demeaned by the president of the united states and all his men and then they stuck with it. other journalistic organizations, including "the new york times" were asleep on it and look what happened. >> you say people will start to care more about this depending -- so far there's no evidence. there could be nothing there. >> there could be nothing there however they are behaving as though there is a coverup. >> i want to ask you, your latest new york magazine article says devin nunes has delegitimatized the house's probe. why is that a good thing? >> because it gives every sign of protecting trump and instead he's stepping in it and revealing that there's something off there because if h

can you guarantee that enron will not have undue influence or even control over some parts of iraq?e minister: iraq is for iraqis. iraqis are nationalist. they don't accept anybody controlling them. >> chris: put it around plays a big role in the shield parts of the country. >> prime minister: the neighbors play a role. we want to pretend that -- prevent the bad side. >> chris: finally, ever since we talked saddam hussein, it seems that the different parts of the country, the sunni section, the shia section have each pursued different interests. how comfortable are you that iraq will remain a stable and democratic nation? >> prime minister: is happening. there's a freedom of election, we hold elections every four years. this is going on despite all our difficulties. east support and west support of it. it was important to remove saddam hussein from power. he killed the people. people are sharing the new iraq. >> chris: mr. per minister, thank you, and safe travel home. >> prime minister: thank you. >> chris: and we will be right back with a final word. you're here to buy a used car,

mclean's 2005 interview on the investigation of enron.tchen morgan said discussing her book, reckless endangerment, how outside ambition, greed, and corruption created the worst financial crisis of our time. you can watch these anytime or search our entire video library at c-span.org. announcer: this week is c-span's anniversary week. 38 years ago on march 19, 1979, the house of representatives opened its debates to tv cameras for the first time, and the cable television industry launched c-span to bring the congress into america's homes. >> gentleman from tennessee. >> mr. speaker, on this historic day, the house of representatives opens its proceedings for the first time to televised coverage. i wish to congratulate you for your courage in making this possible, and the committee, who has worked so hard under the leadership of the congressman charles road to make this a reality. television will change this institution, mr. speaker, just as it has changed the executive branch, but the good will far outweigh the bad. from that day forward,

sweeping reform we have said since the new deal in the great depression and there will be no more enron. we are in a shiny new future. i fear that we are going to look not just that foreign policy, not a success at all area i would characterize libya is a very important failure as well as giving donald trump a loaded gun. things -- badfive things happen, we will think of that behavior worse than we currently do even as we remember the guy the kind of like. thank you. that closes the debate. please look at your cell phones, vote on the resolution. undecided >> i give my concession speech now. we give you minutes or two. >> is a very unpredictable. the advantage.ve votes, you have a little bit less than five minutes actually. european the vote as it is coming in. >> the polls are still open. >> talk to your neighbor get advice. shortly jonathan is going to be over there signing books as well. those of you who ask questions can get your questions asked -- answer. >> israel foster in this room? camille foster ended the house? -- in the house? we have verified. camille, state where you are.

sweeping reforms that we've had since the new deal and the great depression and there will be no more enrons. that's it. we're done. we're all in this shiny new future. so i fear that we're going to look not just at foreign policy, which i don't think has been a success at all, i would characterize them like jonathan, libya as a very important failure as well as giving donald trump a loaded gun on a lot of different ways. i think we're going to look five years from now when the next bad things happens, and we're going to see, what did this guy do for us to help prepare that bad thing and we're going to think of that behavior worse than we currently do now. even as we remember the guy that we kind of liked as a dude. >> thank you, matt. ok. that closes the debate. [applause] please, come forward. please look at your control phones. vote on the resolution. for, against. or undecided. we will give you -- go i'll -- >> i'll give my concession speech now. >> give you a minute or two. you never know. these things are very unpredictable. arguably you have the advantage, jonathan. because one of tho

didn't need to get roiled, former ceo, what went down which was kind of minuscule stuff compared to enronr corporate implosions. neil: right. >> i would say this, the markets always react to these sort of headlines. again i know a hedge fund that was put out of business based on a headline of fbi going in and -- neil: you remember rudy giuliani, would raid offices and greg guys out and a lot of them were completely vindicated. >> some were, some were not. neil: that is always the risk. >> this is the thing wh businesses. what is weird, the breadth of the investigation. you have the fdic what the hell are they doing there? right? neil: someone, seed their fund allotment? >> counterargument if you know anything about these sort of government agency, their powers have expanded greatly on the investigative side. like the pose office has major -- post office has major investigative units. neil: caterpillar, it is a huge conglomerate. the one the of world's largest manufacturer of truck and equipment. >> the federal reserve has investigative unit. this is post-dodd-frank and 2008 financial cris

citroen put out a short report asking if it was the pharmaceutical enron causing controversy and causing it to start its fall. then in march of 2016 pershing got more involved adding streiff fraid in and ackman joined later and mike pearson stepped down and joe papa joins as ceo in may 2016 in an appointment orchestrated by pershing's bill ackman and hoping they would turn around. in january 1017 at the investor conference valeant announced they had made some asset sales worth $12.1 billion and investors thought that would be the beginning of a turnaround that's been promised for so long then, of course, march 13th was yesterday and david faber announced that valeant was exiting causing shares to fall quite a bit. as folks steck late maybe there isn't a turnaround to come here at valeant. guys. melissa, back to you. >> we spoke to andrew and asked about valeant after this news came out that ackman exited the position and what he thought about the stock and he said he still thought it could go bankrupt. what's the credit situation look like right now because bmo makes a good point. at thi

was a partner at pw back in the '90s, i saw the bust, i saw the very real regulatory exposure that enron gave light to, it had to be fixed. i'm not against all regulations, i'm against regulations that prevent the little guy from getting a job. and i think if we don't form capital, we don't create jobs and we don't grow our economy. we don't reduce the tax burden. there's a right size to regulations just like there's lean manufacturing techniques and lean process techniques that the private sector uses. and i hope that you'll go in there and look at this organization and right size the regulations, come up with schemes that promote capitalization. there are a lot of people in this congress that want to just beat down job creators and employers, and i just decided on the fly and i'm glad my staff's able to respond to my request, but take a look at goldman sachs. they want to demonize them, that's an easy thing to do. an institution that's committed to -- let me look at the general numbers here. they had 36,500 employees. there's probably a lot of little guys in there. they've contributed

i saw the very real regulatory exposure that enron gave light to. it had to be fixed. i'm not against all regulations. i'm against regulations that prevent the little guy from getting a job. and i think if we don't form capital, we don't create jobs. and we don't grow our economy. we don't reduce the tax burden. there's a right size to regulations just like there's lean manufacturing techniques and processing techniques that the private sector uses. and i hope that you'll go in there and look at this organization and right size the regulations, come up with schemes that promote responsible capital formation. you know, there's something else that i feel like sometimes i'm living a reality tv version of atlas shrug. there are a lot of people in this congress that just want to beat down job creators and employers. and i just decided just on the fly and i'm glad my staff's able to respond to my random requests. but just take a look at goldman sachs. people want to demonize goldman sachs. that's an easy thing to do, right? beat up on a financial institution. an institution

in the early 2000s there were cases against individuals in the case of tico and enron.nel at columbia university explained on friday, they thought, maybe this is more systemic and it's behavior within the firms and it's not individuals, so maybe we should shift the emphasis of enforcement towards companies, rather than towards individuals involved. >> but is part of this -- and you're both right. people are walking around, how come nobody ever went to jail. everyone gets that. but is part of it the confusion, the definition between -- what is a hedge fund and what is a bank? >> well, they are very different but they are part of the same ecosystem and they live off of one another, but hedge funds are private pools of money, largely catering to very wealthy investors and institutions. they are lightly regulated. in changes for only taking money from very wealthy sophisticated invest o, they are given a lot of flexibility by regulators to invest how they want. bank is the official kamticapit market system to help channel money to businesses and they have become increasingl