mr. blankfein is. he's a big name for us in the business world. know what wall street is, but once you get passed wall street, the names elude them. >> he does look like a kind uncle if you talk to him. >> yes, he is a very congenial witness. he's improved his practice the second time around, of course. >> yea yeah, he's gotten better. >> meantime, the defense is pivoting around what you call the spaghetti theory? >> yes, they are going to attack everything that the government pupts puts in there, raise a reasonable doubt in the minds of the jurors. this remains a circumstantial case without any direct evidence of leaking of information. but the circumstances are coming in. there was one taped conversation between the defendant. no inside information was revealed that was traded upon. but it shows that the two of them were talking about what happened inside of the goldman boiler room. >> become more substantial beyond sort of a celebrity witness play for the jury. >> well, that's up to the defense counsel. the question for him is a strategic one.

goldman sachs yesterday mr blankfein and he was she saying that he wishes to stay on forever so only his bank but he will be staying on forever and this reminds me that when we had our debate unfortunately i did not know that goldman sachs was advising greece not for the sake of greece but for the sake of goldman sachs so it was advise in greece of telling them how to hide some statistics to hide the real bad shape of the economy but on the other hand there was the same time apparently betting against the bonds of greece there would be two types of countries no longer developed and underdeveloped no longer rich and poor you're going to have two types of countries in the world today emerging countries and submerge countries emerging countries that will be growing musings read economy get in a way of such bankers that are playing their future at risk there are using high frequency trading to have make shift profits and on the other hand real bankers bankers that come to you and say hey you want finance what do you want to do with this money what real projects do you want to friend is h

mr. blankfein with him. mr. pandit. in this case it is a solo effort.hat does change the dynamic a bit. >> he has said with regard to the volcker rule that he does agree with parts of it. namely the no proprietary trading part. he has said in the past market making is an essential function of how markets operate in this country. we'll see if he changes that view. >> some have suggested he needs to come out swinging. because this is a point at which if there's too much mea culpa the penalty in greater regulation for the entire sector could be huge. he needs to not be so much -- a new jamie dimon is one that has so far resisted regulation. >> there's still a school of thought the only people he needs to apologize to are the shareholders of jpmorgan. we'll see how that's reflected today, too. mary thompson is covering this for us down on the hill. she's going to talk to jamie dimon. your thoughts going into this? >> reporter: undoubtedly, carl, jamie dimon is the most respected banking ceo in this country. in his prepared remarks he said the losses that st

mr. blankfein, while everything was going down and the caca and everything was going down that willie geist kept his eye on the prize. i still want my job. >> we are the 1%. >> if you can get us through that door -- >> you have to be the .01% to work at goldman sachs. >> it was in our mission statement. >> here's what's it's going to be. >> to inform the people but also to get a job at goldman sachs. >> he really is -- i thought steve ratner's talk last night about the small businesses that they're partnering with was -- it was very revealing. he said, hey, listen, we came in with this idea that we were going to be patrons and sort of had a -- he didn't use the word condescending attitude but it was kind of like here, take our money and look at us. he said at the end of this process and i've heard warren buffett and everybody else say it, too, you look at the small business owners and what they're doing on the ground and he said not only do you have more confidence in the program and more confidence in these individuals but you know america's going to be okay. the entrepreneurship on the gr

mr. gupta. >> >> reporter: mere yeah, after finishing up with lloyd blankfein's testimony, a they intend to puthe defendant on the stand. he says it's highly likely that rajat gupta will take the stand next week. of course, he reserves the right to change his mind. >> bertha coombs, thank you. >>> if regulators were better funded, would they have caught bernie madoff before his ponzi scheme did so much damage to so many people? we're going to do a reality check. stay with us. at u.s. trust, our expertise extends well beyond investment advice and research analysis. it includes proprietary offerings like our eldercare program, which helps provide for those who came before you. and our financial empowerment program, which helps prepare those who come next. resources like these have made us the number-one trust company. that's why generations of families have come to us to help build their own legacies. if you made a list of countries from around the world... ...with the best math scores. ...the united states would be on that list. in 25th place. let's raise academic standards across the nation. le