. >> i was mostly interested in the bank called indy mac. is the first big bank to fail in the housing bust in fact it was the biggest since the great depression the government ended up holding this disaster of a bank. this man is famous not only for reverse mortgages but also ninja loans that were popular that meant no income no job no assets no problem. disneyland loans who claim to make $90000 they just approved it with no paperwork. that was indy mac when the housing market softened they went bankrupt and then there was a dramatic run on the bank that was out of the depression people were pushing and shoving on the streets of pasadena but now the pictures were in color. now stephen nguyen who is now a treasury secretary stepped into brought on - - by the bank for nothing and then the government made a deal with him we would subsidize his foreclosures that he could not take a loss. initiative foreclose with the bank because you lose money. we agreed to pick up 90 percent of the tab and i got records we paid his group more than a billion d

that recent regulations have reduced the risk of a mega bank failure of the likes of citibank and indy mac. in 08. the consolidation and mergers are the state of play these days with companies getting hitched left and right in order to cut hefty cap ex costs exploit synergies and process optimizations companies are doing all they can to drive efficiencies now in the face of a slowing economy and the trade war headwinds so on the latest bring in t.v. watkins director of stocks at simpler trading so we all remember what happened in 08 when giants like citi group they were required an epic bailout to save them so with the creation of this giant are there concerns of a potential risk to financial stability and in the event of a failure who would be big enough to acquire them. well you know what i really pay attention to is that history doesn't repeat itself but it sure and so something like this if there is going to be a problem in the future it's not going to be like 2008 where was the financial mortgage subprime housing loan issue it's going to be something different that's what we're going