did you hear that testimony? did that trouble you?>> id did trouble me that that was his view, yes. >> he testified that some of the bankers have complained to brian clarkson and that he was asking too many questions. it wanted him to be removed from their deal reviews and they got their wish. did you hear that? >> i did not think he heard them say that they got their wish. >> he said he was taken off the case, right? >> i do not know of a case where he was. >> you did not hear him say that he was no longer to work with a couple of banks? >> in fact, he worked with at least one of those banks. >> did you hear him say that he was taken off the case with those two banks? taken off the client list for those two banks? >> i did listen to this testimony. i do not recall. >> was it true that he was not told -- told not to work with one or more banks? >> i am not aware of that. >> were you there the time? >> i was there the time. >> so you were not aware that he was restricted in any way from working on cdo deals with certain banks? >> i was

did you notice them? -- did you notify them? >> the market was aware. >> did you know whether or not investors were notified? >> investors were notified of the risk characteristics of the loan. >> were they notified of their risk, a $1.5 billion of loans were selected because they were option arms, and that with your option, that option arms were going to go delinquent in greater numbers? were they notified specifically of your findings? >> no. >> now, those option arms, in 2007, that's chart 1-b if you'll take a look at it, they show the delinquency rates for a number of wamu scaurts, is that arm, which is where you put these delinquency-prone option arms -- and by the way, option arms are supposed to be current. now up won't be able to see that. you'll have to look in your book. they now have a delinquency rates of more than 50%, which means more than half of the underlying loans are now delinquent, more than a quarter of the underlying mortgages are in foreclosure. >> is this truthful information? the investors knew everythin

did you see the movie? >> yes, i did.and i were brothers. he used to call me a lot, you know, whenever -- because i'm always telling him dirty jokes. >> larry: what a surprise. >> whenever he needed a laugh or pumping up or something, he would always call me to get a new joke. >> larry: what was he like to sing with? because if ever there were two distinct voices in american popular music, country or otherwise, it would be yours and johnny cash. you could not hear either one of you and say, who is that? what was it like to sing with him? >> well, it was great. every night -- in fact him and waylon and kris, i was their biggest fans. i got to stand there every night and watch three of my heroes sing and me standing over on the other side of the stage and joining in every now and then. but, no, i loved john's singing. and waylon and kris. >> larry: when the highwaymen worked, how did you choose how many minutes each man would do, and what percentage did you sing all together? >> kris was here, john was here, waylon was here

tavis: you did not go to school to learn this. how did that happen?> you cannot go to school to learn it, but i learned it on the streets. i learned how to survive. i think one of the great things about growing up was i had a lot because my parents were great people, and my dad was a loving, great guy and a fantastic salesmen, and my mother was a wonderful, nurturing, terrific mother. in those days, mothers stayed home. it was always food, fresh milk and cookies and so on when i came home from school. i live in a neighborhood that was a whole different thing from life today. i went to the university of hard knocks, but i learned how to survive. my mother loved the movies. she loved books. she read to me all the time. she lived her life through film, because she was afraid of everything. she was afraid of travel. she was a very cloistered woman in new york city. my dad traveled the world and did a lot of things when he was a young man, so he started traveling when he was 14 years old. i think i got a lot of that from them, and intuition and savvy and k

and so did i. >> and i told him about it. he did not follow up with it.d leonard padilla, leonard padilla, will you help me with the search? i don't have money, myself. and my goal in life is to find haleigh. that's all that matters to us. >> and my -- >> wait, wait, wait. back to chelsea croslin, what did you tell police where they should search? >> i told them that joe, when he was staying in satsuma with us, i lived in crescent city, a little bit farther, but it's all in the same area, he stayed at tommy's house for a few days until him and ronald had that falling out regarding the gun he had stolen which was recovered. from there, he went and stayed at another house. there was a car accident and he was airlifted off to gainesville. >> so are you saying that you believe joe overstreet is involved in haleigh's disappearance? >> i do believe joe overstreet is involved in the disappearance. i don't know if joe is the one that actually did do the harm and killed her, or whatever this horrible news that's out there. >> but wait a minute, chelsea, there's on

who did you vote for?had voted for barack obama and represented she had a good sense of humor about it but she says she was crazy that her own daughter representitive generational split were some did go for hillary clinton but just as many did not. >> host: at illinois from the republican maligned. >> caller: good morning. i have been listening to this ms. kornblut and she has called sarah palin a bimbo and has given hillary clinton praised then says she is not partisan. the reason that i think you have that to coast and then the center part of the nation. sarah palin represented most the at common everyday person. this is a person mayor of a town than was put into the governorship because of her own work and what she had done. hillary clinton and barack obama had machines behind them. it was all theatrics. that is what most of the campaigns are any more. >> host: do think sarah palin will run doors should run in 2012? >> guest: i think she will try. when she announced the vice presidency the press and the

>> we did have a conversation, yes, we did. >> what did he say?> i was disappointing myself too. >> larry: billy payne except in rare circumstances being universally wrapped today. what did you think of what he said? >> he deserved it. he was a disgrace. it's embarrassing. the hypocrisy this man exhibited by giving this speech, i can't get into that. i mean, this is a man that ostracize -- this is a club that ostracizes women. before tiger woods, there was a debate as to whether or not african-americans would ever be invited to augusta, for crying out loud. and this man is going to sit here and talk about how our kids have been disappointed in all of this stuff in mind you, it's the timing of it that rakes my nerves. simply because he could have giving this soliloquy, this sermon, he's not the priest, he's not the pope. considering the sermon that he gave, he could have given it on monday, heck, he could have gave it on sunday. no, he chooses to wait until two days after tiger woods spoke to the media and was trying to put this past him to sit her

in 2003. >> tell us what you did? where were you and what did you cover? >> i have arrived toward the end of november, 2001. i connected with a gentleman who would always correct me. he thought i wasn't pronouncement directly. after calling him breaux. >> how did you connect to him? >> it was by chance. i had an interview. his uncle was part of a de-mining team trying to clear afghanistan. he spoke english. was working through a translator. i was pretty much on my own. i had to fend for myself. he told me that his nephew could speak english and that he would be able to help. that is how we meant. breaux was a little reluctant and suspicious of me as an outsider. we got together. as i describe he was the sancho panza to my don quiote. he had never transmitted before. we stumbled our way to the country. >> what type of stories were you writing? >> i was really talking about where the country was after the television had left northern afghanistan, what the country was like, how people were attempting to rebuild, the efforts to create a new government, which i

>> i did not.the time that they came in august 2008, i think the practice may have been lessened. i cannot remember exactly. from our stand point, they rode down the and secured a loan to a value that we were comfortable with. value that we were comfortable with. >> okay. and the practice as you understand it has been modified by the legislation effective 1/1/2010. >> the way that you account for securities now, they are all on their balance sheet. they have to count for them as if they were a loan. >> right. okay. let me ask you -- let me turn if i can beliefly to this lobbying business which everybody seems to think. i take it that was equal opportunity, bipartisan lob lobbying push. that is there were well conducted people who were either former legislators or former staffers and others from both parties who were retained by these institution to lobby. would you characterize it in that way, mr. falcon? >> yes, i would. >> mr. lockhart? >> yes, they had big groups of lobbyist on both sides of the

he and many, many others did that.nd so if you have access to their papers then you are halfway home. with the americans that i am writing about that was also true. ed murrow wrote wonderful letters. the one who really wrote wonderful letters was his wife, janet. she wrote to her parents virtually every week. so when they were caught in an air raid she wrote this very long letter back to parents in which there is a chapter in the book. it begins with this air raid and having this wonderful dinner in london and strolling home and all of a sudden hearing the planes. almost all of that comes from and janet tomorrow. if you have that, then your job is made a helluva lot easier. in fact and that is what i've relied on most. what i do rely on most. primary sources. >> congratulations. one syllable. okay. back to the sex life. [laughter] >> not really. today we have certain journalists to declare themselves to be fair and balanced and aren't really either. back then it was really crucial. this is the beginning of the spoken w

did that not surprise you? >> it did not really surprise me, because of the way that the previous scandal that involved one of the bushes. we got into this mess, savings and loan, things turned around, then someone came up with the idea that we can be taxed and everybody get their money back. what fascinated me them was the way that a number of guys on the right actually think. now theoretically there should be no government intervention. they think that the market should be free of the government, but every time they have a problem, they come with both hands -- not one hand, they come with both hands, saying, give us some money. we are in trouble. i have found it to be extraordinary that the republican party seems to be absolutely at ease with all of this. that you can say, we don't want big government on one hand, and then say, well, we need nearly a trillion dollars to straighten these companies out that are too big to fail. once they get the money, then they say, you have spent too much money. >> you sound

raider, did you have data? >> the moderate theal is researched in a number of these exhibits we have looked at was a data set that had a significant amount of information on those hybrid pay option type of loans, and the analysis of those loans suggested that we were underenhancing or being overly optimistic, and that was the primary reason for prying to push that model into production in 2004 or 2005. >> because you were trying to test as to whether or not that kind of a product would increase the risk of non-payment, is that correct? >> well, the product started to appear in 2003, but in very small numbers. by 2004 when we welt this database, we had more significant information on those types of products that indicated that how we thought they were going to behave in the initial versions, it was behaving worse than that, and we needed to get the new model in place because it had more data and gave us a better look at how these things might perform. >> was there a delay in putting that new model in place? >> w

he did not care. he said what he meant and men 20 thought and remains the most deadly kit for properly restrained government taxation and concurrently for individual economic responsibility and liberty have advocated a rigorously circumscribed federal government that empower the people to be free to do whatever they wanted to be. a simple philosophy it took mankind until the late 18th century to figure out and the washington and adams and hamilton franklin and a supporting cast behind them to make it work. so simple we seem to have forgotten it all but as a glance back on what mr. coolidge articulating realize not only could he clearly ski -- to see what the founders devised but the broader human condition and could see far ahead in to the future where his verities would quickly be discarded and disdain. in january 1914 assuming control with the office of the presidency he told his legislators the normal must care for themselves. a normal must care for themselves. he says if you are a reasonable he me

than we did. they did a rubble of, 29% of their funds felt if they came to madoff and the italian said even higher rate of failure and the brazilians certain countries have massive failures. i think in germany 16% of the funds fell victim to madoff so it is varied by country and it shows that people can hold themselves out as a fiduciary, investment do real and trusted adviser but if you are an investor you need to check and your advisers, you can't trust anybody. you have to do your own checks. >> host: to make sure we have this right, 11% of the types of funds in the u.s. fell into this trap and they put their money with madoff. they did this this service to customers and that is a very high number. >> guest: it is a high failure rate and nothing to be proud about, nothing in this case to be proud about. >> host: now what about big financial institutions. to talk about how some of the big banks mention goldman, you mention morgan stanley, you talk about an individual at citigroup who seemed to b

at what point did you begin to see, at what point did you begin advising president reagan and secretaryshultz that something very significant was happening in the soviet union? >> guest: gorbachev's policies were moving train. and initially i was agnostic. i was, by initially in 1985, when he became general secretary, and i suggested from the very beginning a strategy of what i call pushing the envelope. let's see how far he will go. and one of the first pushes was with the expand exchanges, but he began to bring down the iron curtain? and when he signed on to a very extensive exchanges agreement in geneva, november 1985, we said there may be a possibility here, let's keep pushing. actually, i felt that my own thinking turned the corner, finally in may of 1988 when i read the pcs for -- theses for a party conference that was coming up which had no marxism and it. it was purely a design for democratizing the soviet union. and i told reagan at that point, he was on his way to moscow. i read these theses and i said if he means this, and he must because he is put it out officially, for the

drugs, did drug tests. >> larry: did you do jail time?i went to prison, larry. >> larry: how long? >> one hour in there is too much, but i only went for, i think, the grand total was seven months and two days. >> larry: what prison? >> i went from -- i went to chino state prison in the beginning because they didn't want me, because i was high profile. i went to delano state prison and they didn't want me. and i went to pleasant valley, and i'm not sure if this is good, but they wanted me. >> larry: how did you handle prison? you couldn't get drugs or could you get drugs? >> oh, no, no, i didn't do drugs in prison. i was just -- i focused on not losing myself. there wasn't a lot of fighting. i had to fight a few times and i can handle myself. i'll take a beating, i don't care. but in prison, taking a beating could be your last beating. i did a lot of this, i know shakespeare a lot. i know it well, no man speak, let's talk of graves. i remember full plays almost. i've really great memory. i wrote down as many of the plays i've been in that

but you did. and please, we heard enough yesterday about you starting a line of argument that others, third parties, gave you assurance that they were ok, rating agencies, others. again, how do you get to the top if you don't have any experience whatsoever or is your argument at that point you don't pay any attention to it? what do you get paid for if it isn't having some intuition, understanding, knowledge, or do you just do what everybody else is doing because everybody else is doing it and if you don't do it, then you won't make money? because i do think it's all about money. and it was big money. on the way up. but never at any point is it on the way back down. what i'm saying is that when we get this -- when i get and i'll speak for myself, this kind of an argument as to what happened in hindsight, it's listening to someone blame the inferior quality of lee they are in a pair of -- leather in a pair of shoes based on the feed that some person supplied, feeding the cattle that produced the lea

but how did he work that miracle? the course of writing the "pops" i came to the view that armstrong's triumph was as much a function of his personality as of this musical genius. if you don't understand the one, you won't understand the other and it is armstrong's personality to which i want to introduce you now. so let us start in the best possible way by watching him at work. what you are about to see if all goes well is an excerpt from the earliest surviving film of armstrong on stage. it was shot in copenhagen in 1933. he is singing and playing dina with a band of musicians from europe. would you play the video please? ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ [applause] speier now i've been playing that clip from coast to coast and every time i do, everybody claps. that is the louis armstrong who took the world by storm in the 20s and 30s. the public armstrong. in "pops" i take a backstage to meet the private armstrong for there is war to louis armstrong, much more, than most people know. though he was known the world over for his mill

>> why did we wake-up? >> y of the $26 billion is there and you have your board of directors working hard, how do go down finally? was it a loss of confidence? everyone calling in on you at once? >> a loss of confidence. i think people have heard me talk long enough about naked torsos. i do not want to do it again. i think we could not convince the world that -- could not convince the world about the position we were in, that we have collateral, capital, a solid plan, and we did in fact have a solid plan. we could not convince the world. s &p came out with a report a week to 10 days later and asked why lehman was single a? they talked about our strong franchise, have been raised capital, ability to earn money, liquidity. they talk about those things. we lost $25 billion of liquidity in two days. >> thank you very much. >> thank you. mr. fuld, tens of thousands of people in my district are out of work, have lost the opportunity to build classrooms because they invested in the investment-grade lehman brothers

some of these did they stand out most as heartbreaking? what were the stories that stood out the most? >> that is why i use it as a chapter head because there are two things i want to write about, the christian community, and they were the first to leave the country. but i also met a young man who lived in the neighborhood that there was so much for 18 early on about the headings and i know colleagues were terrified they had the idea of beheading to find yourself in the orange jumpsuit and there would be a guy with a big sword that would cut your head off that was very troubling. i met a young kristian man who was kidnapped by a local al qaeda group who said they were followers and they just decided it was their job to try people what they considered traitors crimes working for the americans or what they saw as the apostate iraqi government and this poor young man was kidnapped because he was trying to apply for college leaving the house every morning at 7:00 a mso of your their regular that means you're probably working for the government

c-span: so you did it. >> guest: we did it. we did nato expansion, and our ratings went from this right down in the toilet. c-span: how much do you think the audience understands how the process works and that the numbers are there every day and you can see what works and what doesn't work? >> guest: i don't think they do. i don't think they do. i think they tune in because it's been on the air -- "crossfire" has been going for over 19 years. they tune in because they like the format. they like the guests. they like the fact that it's, you know, lively and they hear both sides of an issue. but i -- i don't think on any show people understand how ratings work or what goes into a show. people -- a lot of people think that "crossfire" is scripted. nothing's scripted about it except the opening minute where we set the topic. some people think it is taped. it's almost always live. so i don't -- i don't think... c-span: are there people who won't come on the show, by the way? >> guest: oh, sure. yeah. there are people who -- once --

i did not find any evidence. nothing was said to me to indicate somebody was deliberately trying to subvert lehman brothers's the ability to survive. we went through twenty-five million e-mail documents. there was nothing to suggest any of that. the interviews we had with individuals, nobody gave us any testimony suggesting that. >> what do you think was so much more stable about bear stearns than lehman brothers? >> in connection with lehman brothers the opportunity to lynn to of lehman brothers was dependent on collateral which was sufficient to justify the loans and they did not as of september 15th have that type of collateral. >> i get the sense that the fed fog that something could be done but since they weren't regulator in charge they stepped back. how do you feel about that? >> i am not qualified to and to that question in terms of what we were trying to do. over that weekend there were efforts being made. there were efforts to salvage some aspect of lehman. i can't comment beyond that. >> in your report

did you think it was him? guest: the only reason i thought it was pat buchanan is that was sort of a romantic interest. i think pat would have been a wonderful deep throat. i wanted somebody to have noble motives. and pat would have had noble motives. >> host: louise is joining us from pittsburgh, pennsylvania, with john dean. go ahead, please. >> caller: yes, thank you for taking my call. mr. dean, i have two comments and a question. first of all, you're right. it is difficult to define the conservative movement. but karl rove gave us is clue. i once read a quote from mr. rove where he said once you think you have us figured out we change like chameleons and go in a different direction. my second comment is, a right wing supreme court ruled that large corporations could contribute to campaign advertising with no limitations. and it's a known fact that during the 2008 campaign most of obama's donations came from lower to middle class people like myself. we gave more than usual and in larger numbers. my questio

did you hear that testimony? did that trouble you? id did trouble me that that was his view, yes. >> he testified that some of the bankers have complained to brian clarkson and that he was asking too many questions. it wanted him to be removed from their deal reviews and they got their wish. did you hear that? >> i did not think he heard them say that they got their wish. >> he said he was taken off the case, right? >> i do not know of a case where he was. >> you did not hear him say that he was no longer to work with a couple of banks? >> in fact, he worked with at least one of those banks. >> did you hear him say that he was taken off the case with those two banks? taken off the client list for those two banks? >> i did listen to this testimony. i do not recall. >> was it true that he was not told -- told not to work with one or more banks? >> i am not aware of that. >> were you there the time? >> i was there the time. >> so you were not aware that he was restricted in any way from working on cdo deals with certain banks? >> i was n

yet it did continue. just bite the extensive two-year long tightening of monetary tightening that began in mid-2004. in addition to tightening monetary policy and warning of gse risks, the federal reserve exercised oversight of consumer protection risks, under the home ownership and equity protection act, and it's general supervisory authority. in 2000 the board held hearings around the country on implement its transfer of authority, focusing on expanding the scope of mortgage loans covered by hoepa on prohibiting specific practices come on improving consumer disclosures, and of educating consumers. thereafter, we adopted rules that lowered the trigger for hoepa coverage and increase consumer protections including limitations and flipping. the use of balloon payments and the sale of single premium credit insurance. more broadly, the federal reserve carefully monitored in the subprime market and adjusted supervisory policy to meet evolving marketplace challenges. in march 1999, the federal reserve issued i

guest: i think it did. i saw senators from both sides of the aisle trying to break the result -- like a bunch of youngsters from goldman sachs, like a frat boy, pretty boy image, the whole tableaux, and a couple of senators like they were applying spankings. but claire mccaskill -- the clear mccaskill soliloquy was so shattering because it ties in that too smart for you, too smart for wall street and main street language to the suffering of her constituents back in missouri. that is where senators want to keep the discourse. saying what you guys did with all of the smart bells and whistles and digits, in wall street's vernacular, really a band of the day was just plain wrong. to the extent, especially for the democrats, that they keep the debate on those terms, it is a winning equation for them. host: maureen dowd rights and "the new york times" that the people who've testified in the first panel, one of them being mr. fabrice tourre, fabulous fab, that he calls himself and refers to in e-mails the committe

i did not meet personally with mr. paulson. i did talk to mr. paulson on the phone. >> let me ask you some other questions. i am kind of new at this. >> to think we heard this morning stated income loans or loans to which information is put on application, where a customer tells us what their income is then than it is not verified. >> how did it develop? >> again, that product or that feature has been around for many many years. i think what we are all dealing with is the housing crisis, excuse me, the housing boom grew and as the competition grew, the use of limited documentation and no documentation on loans certainly expanded and as we were commenting earlier, as we became more concerned that the housing market had increased in risk, i think that is one of the elements we all started to take a look at so in our case we started to cut back on our originations. we eliminated some of the product offers. we tighten underwriting and as we heard from david schneider earlier this morning at one point we also decided limited documentation loans were

always was his. >> kroft: did he talk about what he did for a living?gotti: no, he didn't sit at the table and say, "you know, by the way, my take from the numbers rackets are up this week," you know? it didn't go like that. >> kroft: and he didn't have conversations like that with the... with some of his friends. >> gotti: no. other than my father being away from home, you know, being incarcerated, and the hours that he kept, our house was a pretty normal house. >> kroft: gotti says it wasn't until he was 14, when he was shipped off to boarding school at the new york military academy, that he found out exactly who his father was and what he did. and he learned it while watching a news program with his fellow cadets. >> gotti: and i remember it was 1979. and we're watching a show, and they're saying, "this man's a captain in the gambino family," and this, that and the other thing. and they're talking about him. and i'm mortified. i'm in the back row, and i'm watching this. i'm not saying nothing. and they says, "john gotti," and they... and they're talk

did you have any interactions with the vice president? >> guest: i did. used to laugh and i actually saw him after the fact. he was going on an up escalator and i was going on a down escalator in palm springs where he retired. he and i sat down -- he waved me come up and i did and we talked about our last visit which is on the government's small planes where we went -- i think we were going to chicago. they couldn't get the landing gear down. and we thought this might be our last flight. but i was -- i was fairly surprised that what happened to him. . >> guest: if nixon did have to leave or something happened to him, he was a competent man, but they wouldn't want to shove him out just to get ford in. >> host: tanya's joining us from virginia beach. go ahead, please. tanya, you with us? >> caller: oh, yes. >> host: please, go ahead. >> caller: oh, so wonderful to talk to you, mr. dean. >> guest: thank you. >> caller: you know, when i watched watergate, i was in my early 50s, but one thing i haven't heard anything is martha mitchell. because i used to watch

what did we do to the germans after world war ii? they did start the war. they were defeated and yet we insisted the french, british, the others once they had gotten rid of nazis bring them into the european family. with full partners including military arm seemed we had nato for that we had no strategy in the 90's to bring russia into at least european security to make them part of it given responsibilities as well as -- they were going to be very serious crisis, we were stronger but we should have lived in the direction and led the europeans to bring them into it by excluding them we did not even give them consideration week gave the germans after world war ii. and the results have not been nearly as damaging as you might say nazis were after world war i. nevertheless that did contribute to the policies that you see putin having carried out. i would go further and say that much of the economic advice given based on what george soros calls free-market fundamentalism was probably that advice and also the russians are grown-up and responsible for whatever ad

it really did. people here over the years are extremely respectful, but today was something that touched my heart pretty good. i would also like to, i guess, make another little comment before we start. i know that the players over the past few months have been bombarded by questions by all of you and the public as well, and i would like to tell the players hopefully after today -- after answering questions in this press conference, the players can be left alone to focus on the masters, and focus on the game for not only this week, but going forward as well. so i apologize to all of them for having to endure what they have had to endure the past few months. a lot has happened in my life the past five months. and i'm here at masters to play and compete. and just really excited about doing that. and i missed the competition, i missed seeing the guys. a lot of my friends i haven't seen in a while. it's great to play golf with freddy and jim, two of my best friends. i played with mark yesterday for nine

what did we find? we found that the number one predictor for employment stress is their participation in an activity such as sports, followed by a strong family and the child's belief of the american support of the war. sports as a diversion makes sense. youth sports programs are relatively easy to create. strong family is expected but that is a long-term social problem. the strength of a child's perception of the american support for the war would be associated with their deployment stress would -- is a surprise and much more complex to deal with. we shifted to another question not looking at the everyday stresses but at the ability to cope with the life of deployment. for this, we look at what predictors help the child survived the life of an army brat. we found the predictors were a strong family, a strong stroud -- spiles, but the largest -- a strong spouse, but the largest was to believe that soldiers are making a difference in the world. that is surprising and intuitive. these adolescents grew up

>> actually i did not notice that many japanese did not know. but part of the reason my book was very welcomed in japan because people just forgot. and they never connected this military -- militarization of cherry blossoms to other meanings, so cherry blossoms. and so, i started out by actually going to a cherry blossom viewing. but the interesting part about what i call poly focal symbol is as you know, one is the symbol, which started out actually by mrs. taft. in the last year this very time i was so called a distinguished chair of modern culture of congress. so i gave a talk when the cherry blossoms and the tidal basin with full bloom about this. mrs. town inaugurated so much, giving cherry blossoms were sending cherry plants all over the world. >> that was in 1911? >> yes, yes. >> wherever you point? >> japan. >> and when did you come to the u.s.? >> in the stone age. [laughter] >> were you at all to life during world war ii? >> yes, i was little so i don't remember anything except my mother who was always protect did and never ever had to

in fact, i did think about it. i thought about how they spoke when i was writing them, the characters, and they are a character who uses pro fanity at all. >> who is that? >> michael burke, the doctor. he doesn't use farrah fanity. but there is a character, steve, who exists in the story and in the real world to run around and insult people on wall street. that is how he sounds. so i couldn't remove it. i just simply couldn't remove it. it was too much a part of it. he is on a lot of payments, and when he talks, that is what comes out of his mouth. >> in the end of your book, not actually the last chapter, but you have lunch with a former leader of a company that you worked for? >> yes. >> how do you pronounce his name? >> john goodfriend, the c.e.o. of of solomon. i worked a couple of years there. >> your f-ing book, why did he say that to you? >> he said that book destroyed his career. he kept repeating that line. he was just emphasizing how intensely he felt about it. it was an awkward moment. i don't completely

how did you get to that? >> this is a very good decision for us and for the internet community and for consumers. it is a clear repudiation of the legal foundation beginning in 2002 that the fcc put together, relying on what they call ancillary authority to govern and police the activities of internet access providers for doing the wrong kind of things. in 2002, the fcc said that cable modem services, and later they said that telecommunications services that provide internet access were not telecommunications services, they were information services. many thought that was the wrong decision at the time. one of the assumptions that led to that decision have not panned out to be the case. in 2002, many policy makers thought that by 2010, consumers would have many more choices for internet access. you would have broadband over power lines and satellite and wireless. what we have come to learn is that for the foreseeable future, most consumers will have one or maybe two choices for high-speed internet access. the

at what point did you begin to think, at what point did you begin advising president reagan and secretary shultz that something significant was happening in the soviet union? >> guest: gorbachev's policies were a moving train and initially i was agnostic. by initially 85 when he became general secretary, and i suggested from the very beginning a strategy which i call pushing the envelope. let's see how far he will go and one of the first pushes is will he expand exchanges, will he begin to bring down the iron curtain. and when he signed on to a very extensive change agreement in geneva, november 85, we said there may be a possibility. let's keep pushing. actually, i felt my own thinking turned a corner finally in may of 1988. when i read the thesis for the party that was coming up that had no marxism in them. it was purely a design for democratizing the soviet union, and i told reagan at that point, he was on his way to moscow. i read the thesis and i said if he means this and he must because he put it out officially for the communist party this country will never be the same and so at th

you did not have to do that, but you did.ase, we heard enough yesterday about you starting a line of argument that others, third parties, b. du assurance -- gave you assurance that they were ok. how do you get to the top if you do not have an experience whatsoever? or your argument is that you do not pay attention to it? what do you get paid for, if it is not having some intuition, understanding, knowledge, or do you just do what everybody else is doing because everybody else is doing it and if you do not do it, then you will not make money? because i do think it is all about money -- big money -- on the way up. but never at any point is it on the way back down. when we get -- when i get, i will speak for myself, this kind of an argument as to what happened in hindsight, listening to someone blamed the inferior quality leather in shoes, based on the feed some persons applied to cattle that produced the leather. explain what it was that you did with products. it makes it very, very difficult, notwithstanding a paragraph or to

rarely did he give up. he would wander on and off the senate floor and in and out of meetings, and someone would be arguing, and he would make a comment about, i am see we are making progress. he knew just when to bring humor into the room when things were getting to a crawl. and when -- getting difficult. mark hattfield had a longstanding and firm point of view on issues around the death penalty, and on of variety -- vietnam -- and dole would know the line you could not cross a bridge the new members who have views that were formerly held. -- he knew memebebers have views that were firmly held. dole was trying to work out a consent agreement with senator byrd. he was the majority leader at the time. senator byrd was in the minority. senator dole gave the senator byrd the consent agreement. -- agreeing to a set of rules that would allow us the order of amendments and so on. senator byrd, who is a very formal person and felt strongly about personal relationships, took the consent agreement and went into his

>> they were bets that were made. >> why did henry pahlsson and ben bernanke, why did the two of them -- >> why did they want to pay off the gambling debt? >> yes. they said the whole country would collapse. >> because all the wall street firms were on the other side of those bets. and if a.i.g. didn't pay off the bets, the firms would have experienced the loss. think of it this way. goldman-sachs had lost on its bet to michael berry, but it wasn't just that they thought they were brokering the bet. they paid off michael berry, and they are out of pocket. they want to get paid off by a.i.g., and if they aren't paid off, they have a $13 billion loss. i don't defend this. this is what they are thinking. they are thinking if we don't make the wall street firms whole, the wall street firms are going to collapse. >> some of them did. >> yes. and they would have all collapsed >> who got hurt? >> who got hurt from the collapse? >> yes. >> not the wall street people. the rest of the country got hurt. the rest of the country got hurt from what the wall street firms had been doing the previous

did guillermo -- did he get deported or something? is he gone? oh. stands. it's like he disappeared. all right, well, we'll move on. you know our first guest from "bottle rocket," "old school," "the royal tennenbaums," and other delightful films. starting friday, you can see him at his very whitest alongside chris rock, martin lawrence and tracy morgan in the new comedy "death at a funeral." please welcome luke wilson. [ cheers and applause ] >> jimmy: what's happening? >> thank you. how is it going? good to see you. js >> jimmy: i'm doing all right. you have the same look on my face i feel like when i walk out on a talk show. it's weird to have somebody yell your name and -- >> it goes from quiet to chaotic. >> jimmy: it's embarrassing. >> i'd like to do it a little cooler but i'm afraid i -- >> jimmy: have you ever tried to moonwalk? >> or maybe just drink. some kind of -- >> jimmy: push a bar cart out here. >> jimmy: how's everything going? >> everything is going well. just kind of hanging around, working here and there, doing press. watched the s

where did you grow up?guest: i grew up in pittsburgh and went to the university of pittsburgh but somehow went astray and went to harvard law school, said after i got out of law school and went back home and i teach currently and i am the interim dean at duquesne university school of law and its work. >> host: how long have you been teaching and what do you teach? >> guest: constitutional law primarily. i've been teaching pretty much about 20 years. i did practice law too but during that time i kept waiting. i've done writing throughout my career. i find it keeps me kind of energized so these projects take a little bit of time. they are different than writing for newspapers and magazines and things like that but i enjoy it a lot. >> host: have you done that, writing for newspapers and magazines? >> guest: i've done that throughout my career in fact early on in the career i would do a feature stories for newspapers and pittsburgh and kind character studies and actually i found it helped in tackling these big

i bet you did not know that, did you? i bet you did not know how literate you were. to think you are. they have called on americans -- that would be you and our neighbors -- did not laugh at this. this is the serious part -- and do not laugh about this. this is the serious part. educate themselves about basic concepts, how to balance a checkbook, save for a child's education, steer clear of deceptive financial products and practices, a plan for retirement -- and i like this one -- avoid accumulating excessive debt. [laughter] get -- i ask you all not to laugh at that. there are serious. -- they are serious. the president who broke a world record by raising the debt ceiling a few short months ago by $1.90 trillion tells us he wants to educate us on how not to create excessive debt. now, all i want to know is, what part of the $14.30 trillion debt he has created does he not think is excessive? [laughter] we clearly have a lot more to learn. [applause] you've got to write this stuff down. you cannot follow it. you have to write it down. in place of this administration's

how did you find them? >> guest: i met them in -- i guess it was actually the january 1st of 2000 when i finally met any of them personally. >> host: was that exciting? >> guest: oh, yeah. it was also terrifying. i had been trying for a long time to get them to talk to me and they were resistant. it took me a year and a half -- >> host: suspicious? >> guest: i was one in a long line of people who have come to them wanting to -- particularly white people, and they just didn't trust anybody. they had had so many bad experiences. henrietta's medical records were released to a journalist and published in that book about conspiracy. at one point someone came to them and said he was lawyer and would sue on their behalf, and tried to steal the medical records. there's so many things that happened to them they didn't know who to trust, and didn't believe anyone would do what they said they were trying to do. so they were understandably wary of me, so it took a long time to get them to talk to me and open up. >> hos

what you did. is it listen there is a lot of baggage. we have to build a lot of bridges before we can sit down and talk. maybe at some future point when we build those bridges we can do it. right now might not be the best type. maybe we don't have much to say to each other. that is not the case in hamas. the islamic resistance said we would love to talk to the americans and be part of a peace process and come to an understanding with the united states. we are not in any of the united states. we don't target and killed americans. that is all kinds of there are nuances between the groups. muslim brotherhood is different. we do talk to the parliamentarians and egypt and we have. is there are gradations and we've to be sophisticated and nuanced and the approach. >> host: one thing missing in your book, this isn't a criticism but i'm curious why you didn't include it and you may have a reason, israel has a record of negotiating with terrorists repeatedly and inoris prisoners, etc.. and yet in america we

>> why did he agree? a year-and-a-half ago, he felt completely betrayed by the financial world. >> he is on the screen right now. >> he felt neglected. he thought that he had been buried pressured in diagnosing what was going on in the american financial system. he had made a lot of money for a lot of people. it wound up being a very unpleasant experience for him. and then, nobody noticed what he had done. so, when i called him, he was the one character who was very eager to talk to me. he had a story. he had a three years of emails to document every move. the 60 minutes people were reinforcing that. >> you are still number one on an assigned to it but you did not show on the wall street journal today, which is interesting. what about these numbers? >> i will give you a quick -- the way it works generally, there is a bit of a lag with the papers. the "new york times" is based on sales from two weeks ago. the market surprised even me. the market seems to be a vast -- the vast -- be vast. there is clearly a

and it's based on me and my mom. [ laughter ] >> jimmy: now did you -- how did they know?ey had photos. this is -- this is actually me because i have the glasses. my mom was a very little person who gave birth to me. so, she's very powerful. >> jimmy: so when you got to a certain age you would hold your mother. >> yeah, yeah, yeah. >> jimmy: amazing. >> yeah, it's really cool. me and my mom together. and here's a little dude i got in china. [ laughter ] >> jimmy: what is this dude? >> i actually got this dude at a 99-cent store in china. and let me see. >> jimmy: i like him already. >> yeah, he's pretty cool, man. >> jimmy: yeah, i think -- >> he's battery powered. let me see if he works. well, doesn't look like the batteries work. it is a 99-cent store in china. [ laughter ] >> jimmy: does not work. normally what would it do? >> it would dance and sing around. i like him because it's a baby but he looks like he's 85. >> jimmy: interesting, yeah. does look like -- >> one of my favorite pieces. >> jimmy: brilliant one. do you have one more thing? >> you know what, man? >> j

did you see, tiger had a tough weekend. did you hear about that.g guests coming on the show. >> woup, now he's trying to take over the sketch. >> larry: funny, george. funny stuff. >> thank you. >> larry: by the way, do you have any background with conan? are you friends? do you know him well? >> you know, i was on conan's show twice in 2004. in 2003, we co-hosted the emmys together. we've been cordial and honest together. i think it's interesting in hollywood, this deal was brokered the way the deals used to be done. a guy comes in the office, this is my intention, if i have your blessing, this is what i'm going to do. i picked up the phone, called conan on wednesday. he started to mull it over. i talked to him on sunday night, man-to-man, i got his number, picked up the phone. we did it the way things used to be done, face-to-face, phone call-to-phone call. that's the kind of integrity that conan has. he wanted to make sure that i wase happy moving to midnight. that i was okay. he would not have come over if he would even feel a little bit like h

you did the exact same thing that they did. >> you did not have a dual mission.ordable housing. you were just under requirement to your shareholders to make money, profits. >> we had an opinion that the administration wanted everyone in the industry to extend themselves to fulfill the american dream. >> you are making a profit from securitized in mortgages. there was your growth in the residential real-estate market. >> in the later years we did not. did you have some security face or liars loans and selling that securities based upon this? the events of the we can afford did impact us. >> your business over the course of the last decade. your participation of the market did not have anything coo with freddie and fanny, did it? >> we were a client and a competitor. >> >> he said that you never expected a bailout, that is different from other accounts. all of the public accounts said th