that are very small compared to the crime committed in the damage done because look at this way andrew cuomo says this hour a lawsuit seeks to recover the themes collected by ernst and young while it was supposed to be using accountable honest measures to protect the public so all they're seeking are the fees that are seeing young collected while committing this fraud andrew cuomo of course he's a politically motivated to do whatever he can just like rudolph giuliani was politically motivated to go after lehman brothers and go after a drexel burnham in his day and then launch his political career but of course andrew cuomo we'll see whether he's actually serious about restoring some kind of justice to the system max actually i would say the opposite because you know mike milken went to prison he did it his time he did years of prison he was for bit into ever trained security ever in the existence of his life again ernst and young which helped commit these crimes is there's no suggestion what so ever that any. body will face any sort of criminal charge well this is the remarkable thing with e

and go after a drug to burn him in his day and then launch his political career but of course andrew cuomo we'll see whether he's actually serious about restoring some kind of justice to the system max actually i would say the opposite because you know mike milken went to prison he did it his time he did years of prison he was for bit into ever trained security ever in the existence of his life again ernst and young which helps commit these crimes is there's no suggestion what so ever that any. but it will face any sort of criminal charge well this is the remarkable thing with each ensuing scandal the lessons learned by wall street is how to not get caught the next time they break any of these laws instead of modifying their behavior and not to break the laws it's of their mentality is how do we not get caught next time and again politicians increasingly provide cover for them so what they're doing is the public says oh but we punished ernst and young ernst and young paid a billion dollar fine which is just the billion dollars that they made committing this fraud they think that they've be

he originally voted for carl paladino and then, at last second, decided to switch his vote to andrew cuomoyou can see here. look, at the footage. there's gary. he looks over. what's going on over here, and goes right over. flip-flopper. flip-flopper goes right over to cuomo. unbelievable. i mean, you probably read about it in the papers, right? you guys heard about this? everyone was talking about it and unfortunately it even spawned a negative attack ad against gary frick and the gang. just check it out. it's awful. >> gary frick wants his vote to count more than once. he flip-flopped on paladino, and he'll flip-flop on the american people. these puppies vote with their stomachs, and in a year's time, gary frick and his pals will be five times the size they are now. that's bloated government. [ laughter ] gary frick sniffs butts, sleeps like a frog and, like the rest of his cronies, gary frick once ate his own poop. tell gary and his puppy pals to keep their paws off our politics. >> this mess fe paidor by cats. [ laughter ] [ cheers and applause ] >> jimmy: that's a shame. that is a sham

new york's attorney general and governor elect, andrew cuomo, is reportedly close to filing civil fraud charges against ernst and young. according to the "wall street journal," prosecutors say the firm stood by while lehman brothers misled investors about its financial health. charges are expected to be filed this week, making ernst and young their first major accounting firm targeted for its role in the financial crisis. wells fargo has agreed to provide home loan modifications worth more than $2 billion to nearly 15,000 california residents. the deal applies to high-risk mortgages called "pick-and-pay loans." the bank will also contribute $32 million to california so the state can pay restitution to homeowners who lost their homes to foreclosure. and moody's investors service may downgrade 30 spanish banks. the warning from the ratings firm comes less than a week after moody's said that it may downgrade ratings on spanish government debt. many spanish banks helped to finance a construction boom that went bust. >> this is diane eastabrook at the u.s. post office in chicago, where the b

andrew cuomo called it a house of cards business model designed to hide billions in liability in the year before lehman collapsed. william black, a bank regulator during the savings and loan crisis praised the move. >> somebody finally did something about lehman and about the top tier audit firms that have given clean opinions to every scam in the modern crisis and gotten away with it. >> the case was brought by a state attorney general and not the federal government. >> this filing again raises the question of whether or not this federal regulator, the sec has become an old toothless dog laying in front of the fireplace that has lost its bark and bite. >> reporter: an obvious question, if the auditor is accused of wrong doing, what about the executives who conducted or approved the transactions? >> i think it's pretty clear that there will be an action brought probably by the sec against some senior executives at lehman. >> former lehman ceo dick fold says he did not know of these transactions and has done nothing wrong. his lawyer did not respond to a question for comment. fold has