to talk about the potential impact on wall street and his view on the markets on our economy, michael holland the holland balanced fund. >> great to be year. lou: one of the funniest lines today. you watch the computer read all of the seine. he approves. i love that. it's like george washington saying he liked his picture on thdollar bill. does he like it? >> no. no. i think the intent that he wanted to my he should approve of thentent, but the actual mechanism they're using or mechanisms or lack of mechanisms , but before the late 1990's we had a system that had worked for 70 years and was simply that the banks could not use the customer's money that was insured by taxpayers to gamble. lou: a better idea. >> yes, he did. he got it through congress. instituted.n its wisdom, now to get out of the nest that 2008 brought us we are ending up with -- i think the solution is worse the problem because we're now having a situation where the regulators will be much more involved deciding who is doing what to whom and what is right and wrong. lou: what aut those people saying it was the investment bank

joining us now to discuss this .s michael holland the lawsuit is for $1 billion.department of justice for $13 billion over bad mortgages. the numbers are not as significant as the symbolism of this move. what does this tell you? >> the symbolism is so clear. it shows how far the silliness has gone, how overreaching the regulators have become. you have the institution that was pursued by fannie mae and freddie mac and the fdic and to save the008 largest martial bank failure in history. they came in and several years try tothe regulators extract more money from them. case.s a straightforward they did everything very quickly in the panic days of 2008 in a straightforward exchange. many of the things were left undone. this is one that was not left undone. i believe the document is clear that the fdic receivership agreed to indemnify and hold jpmorgan for any liabilities of washington mutual. >> did jpmorgan win here? will that help them pay off some private lawsuits? think it is more than that. i think they finally said we want to put all of this behind us. jamie dimo

he hit rocks under the snow while skiing hollanded on his head. michael shumacher's accident is bringing out safety experts warning us skiing can be a very dangerous sport. especially in the early part of the season. poppy harlow has more on that. >> reporter: hi there, jim. it is ski season and special avalanche advisories have been issued for the holiday in colorado and wyoming. so some skiers out west may be spending a little more time at the lodge than on the slopes after a series of scares. trails are closed at this utah resort after an avalanche temporarily buried several skiers monday morning. >> it's nothing to play with. it's serious stuff and you know, it's -- >> do their best to control the environment but mother nature and you can't always predict what's going to happen. >> they were lucky to get out. near the wyoming is, idaho border two people died in the last we can when a skier and snowmobiler were buried in two separate avalanches. >> look at this unbelievable video captured as brothers edwin and david were off trail skiing in colorado. >

holland. juan gutierrez, el paso, texas. we saw the santa predicament by telling our daughter he works for jesus. michael from virginia. a way to get my mail read. mention the bolder, fresher tour. bingo, mike. we'll see you in charleston friday, march 28. knoxville saturday, march 29. tickets sell fast. get them while we have them. they make great christmas gifts. 50 tickets left in san diego for the february 21 show. nick from wooim.reilly.com. i'm the freshman class president and enjoy your books. i have benefitted from your leadership. i appreciate that. merry christmas. happy holidays to everyone there. finally the factor tip of the day, saving you money again. you know, we don't like to endorse big companies. it's not what we are here to do. however, if you become a prime member on amazon.com, you get big discounts on everything they sell. it costs $79 a year but you don't have to pay for 30 days. ungd safe you could save money on christmas stuff and pay later. factor tip of the day. check it out. that's it for us tonight. check out the fox news factor website which is different from billoreilly.com. we'd like yo