everybody, all the pieces -- even like last year third quarter we settle the case around the merrill lynch transaction -- we settled a case around the merrill lynch transaction. this year there are other things in there. the biggest part of it is mortgage related, mortgage related activities that took place in the mid-2000's. we settled some discrimination suits hanging around for years and things like that, so there have been other things. >> you paid what for countrywide, $2.5 billion? >> that was -- >> is that one of the most memorable acquisitions of all time, could we put it that way? >> i am not sure that anybody could have known that mortgages would have done the same thing. the reality is nobody knew. >> so you do not fundamentally dispute the government's case, what seems to be the public's view, that wall street behaved pretty outrageously touring that -- during that period between 2002 and 2007. and some of those practices, whether direct lending practices of companies like countrywide, or the bundling of securities and investment banks, you do not dispute that a lot of things went bad? >>

their banking revenues, the merrill lynch transaction reinforces that they stole that.ike the fact that they are settling, also. >> yep. to that last point, what they don't have is jamie dimon. and the fact that they did indeed steal merrill lynch and the fact that they have now settled up and paid this, i think this does have that upside. i would love to see the huge upside call buying in the weeklies. this has been a gold mine. >> coming up next, sit a silicon valley company that has all of wall street talking and google is one of its big investors. and coach, the man behind the 2013 ncaa title is here on set. we will talk the business of college ball ahead on fast. >> turning now to the commodities trade, gold could drop by 15%. they say iron ore is the most susceptible. >> i think supply in the second half is heavy. i do believe the last time we flashed pmis in china they were lower. having said that, i have been taking profits in the last couple of days. we need the next round of demand. selling gold into next year is a slam dunk. dan, you're into this trade? >> i

but everybody, pieces -- even like last year third quarter we settle the case around the merrill lynch transaction -- we settled a case around the merrill lynch transaction. this year there are other things in there. the biggest part of it is mortgage related, mortgage related activities that took place in the mid-2000's. we settled some discrimination suits hanging around for years and things like that, so there have been other things. what forid countrywide, $2.5 billion? >> that was -- >> is that one of the most memorable acquisitions of all time, could we put it that way? >> i am not sure that anybody could have known that mortgages would have done the same thing. the reality is nobody knew. do not fundamentally dispute the government's case, what seems to be the public's view, that wall street behaved pretty outrageously touring that and 2007.ween 2002 and some of those practices, whether direct lending practices of companies like countrywide, or the bundling of securities and investment banks, you do not dispute that a lot of things went bad? that i agreeure with the premise of the question.