things that banks were asked to do during the financial crisis and actually it was
. interesting because recently with the news that bear stearns with there being
a civil suit having to do with some fraud we had the opportunity to ask jamie dimon
about this deal which you were very incredulous about in your book and so i want to
play you what our our producer asked him in his response. now that there's
a civil lawsuit for bear stearns related to related fraud. do you regret
participating with the federal reserve to buy bear stearns in two thousand names.
of the federal reserve because we were asked to by the us
a favor to finance some of the no no we did them
a favor and we look at this one exactly right we were asked to do it we did it to
great risk to our souls. first obviously the government backed this transaction
whether it and it asked j.p. morgan to do it or not so it wasn't j.p.
morgan participating with with the fed why did everybody last laugh when we asked
that question...