he was subprime mortgage bond trader at morgan stanley, a fellow named howie hubler, who manages to lose somewhere between--it's hard to know-- but $7 billion and $12 billion in a matter of six or eight months, more than any single trader has ever lost in the history of wall street, and no one knows his name. >> according to lewis, at the end of 2006 and the beginning of 2007, when the commercial bank j.p. morgan became the first to recognize the danger and fled the subprime market, hubler was gobbling up $16-billion worth of subprime mortgage bonds that would be worthless in nine months. >> he did not understand the forces at work in his own market, and he was supposed to be the smart guy. i mean, what were the dumb guys doing? so i think that it's really clear that the firms themselves did not understand the machine they created. >> what happened to howie hubler? >> he's allowed to resign from morgan stanley, and he takes with him millions of dollars in back pay, tens of millions of dollars in back pay. it was all hushed up, basically. >> did most of the people who made these terrible