mr. gasparino, your subject cross-examination. [applause] mr. moore would you like to examine? >> mr. gasparino, good to see you. >> i am sure of that. [laughter] >> you're starting to scare me now. >> you seem bothered by these high executive salaries that some of these ceos are paid. >> i'm not bothered, just stating the facts. >> you have any idea how much money la bron james links? do you know how much money hannah montana makes every year? what a surprise hit 66 >> if i said yes -- >> what a surprise you to know that she makes over $50 million a year? can i -- >> mr. moore don't ask how much the mayor of las vegas makes. [laughter] [applause]@ú o'neill well-managed his company and that o'neal was a great ceo? >> i am asking -- look, i am not here to defend ceos. i think that they should -- >> mr. moore, you are here to defend it yourself. [laughter] >> what i am asking is don't you believe, sir, it should be the boards of directors and shareholders, not members of congress to determine what the salaries are of these companies after all the shareholders are the owners of the compan

mr. gasparino. mr. madrick, your times running short here so please, answer his questions. >> i got -- fannie and freddie were made -- >> they're regulated by the housing and development administration, under the clinton administration which forced them to start guaranteeing subprime loans. >> judge, i may have to do this with both my witnesses, to treat this witness as a hostile witness. >> mr. madrick. >> i'm not surprised. >> mr. madrick, you're five minutes to late. >> oh, okay. >> are we up? >> 30 seconds. >> let me ask, should these investment bank -- why want they able to assess the prices of these securities they bought so aggressively? >> why weren't they? >> well, isn't the -- let me continue. isn't the capitalism system supposed to work through competition to adjust prices in a way that we don't get outsize, crazy behavior that lasts for years? it's okay to say we have to allow some exceptions, but for years, sir, i would tell you that the cure is worse than the diseach if you look at history

mr. gasparino, you're subject to cross-examination. mr. moore. >> mr. gasparino, it's good to see you. >> i'm sure of that. >> you seem to be very bothered by some of these high executive salaries that some of these c.e.o.'s were made. >> i'm just stating the facts, sir. >> do you have any idea how much money lebron james makes? >> i don't care. >> would it surprise you to know he makes $40 million? >> do you have any idea how much money hannah montana makes? >> would it surprise, you, sir, to know she makes over $50 million. >> she didn't blow up the economy. >> mr. moore, don't ask him how much the mayor of las vegas makes, ok? >> now here is my question to you, sir. can we agree that someone who runs a major company with thousands, if not tens of thousands of employees, who has oversight over billions, if not tens of billions of dollars, if that company is well managed and makes a profit for the shareholders, do you have a problem, sir, with that person making as much money as hannah montana makes and a-rod and lebron james? >> are you saying that dan

gasparino. >>> any buyers of capital one following in the footsteps of john paulson? >> no, thank you. >> no, thank you. why? >> why is mr. paulson missing? >> i wouldn't know. far be it from me to say what he's missing. >> that is interesting that here is one of obviously the biggest bears on financials for two years, and what a right two years it was to be bearish on financials, now seemingly more bullish. >> you wonder if there are bets on the other side of these things. in a vacuum, you can say he's doing nothing else but buying bank of america and capital one. there are a lot of other moving parts. >> for instance, you might not know an options position that's being put out in conjunction -- >> we talked about these volumes. more and more folks -- somebody earlier today was talking about putting on a lot of these derivatives in the form of protection. that's really been pushing these volumes. the more people use this the more i'm telling you, this is something that's almost like the par parachute holding on to the market. people don't see this market tumbling over. >>> to another slice of the market that did well to