philip mudd: i think it's a net inevitable.mean, if you look at globalization and the way economics is moving, you can't anticipate that 1.3 billion chinese are going to live at the level they lived 30 years ago, and then you start to see 10 percent growth every year. so like it or not, you can sit here and talk about american exceptionalism, which i thought was quite surprising, 70 percent of americans still subscribe to that. but you're going to have to accept decades ahead when the brics and others compete economically and also are going to look at that economic performance and say "i want a bigger slice of the pie." you just have to look at the u.n. security council, five nations that represent world war ii powers, to say that paradigm can't live forever. so like it or not, it's going to change. the only other thing i'd say to echo what general hayden said is, sitting at the threat table at both the cia and the fbi, i'm surprised how much americans think about past wars. you know, historians always say the past doesn't dict

[laughter] amid this very dangerous period, and he had appointed a new ceo, dan mudd, son of roger mudd, the tv newscaster. he was an ex-marine, decorated for a dangerous mission in lebanon, now he was to be into another minefield. he saw his job as clean up the accounting mess, making nice with the critics of fannie mae, meeting the hud goals which have been increased even further under president bush, and competing with walter in the mortgage market because by now, wall street was also crazy about mortgage, especially the rescue guys because they were very profitable. wall street was taking away more and more of the business from fannie and freddie. mudd and his colleagues are worried that fannie might become irrelevant. so what should they do? should they go out and buy the same kind of crazy mortgages that wall street was buying? or should they step back from the market and wait for a new outbreak of sanity? mudd and his colleagues knew that the risks were growing in the housing market, but they underestimated how much worse things could get and they were red-blooded american busine

we asked phillip mudd who helped direct the cia division responsible for drone strikes. >> isn't therethese overhead attacks. critics say every time you drone someone and accidentally kill one of their friends or relatives, you've just created more enemies. >> you've got a fundamental choice here. you're looking at someone and you can't get to him because you know eyes in no-man's land. the choice is binary. shoot to stop the plot or don't choose to stop the plot. and if you don't, you have to take the consequences. >>> a little later in the broadcast, a remarkable new therapy that could change the treatment of chronic pain and the love story that resulted. >>> and next, in the midst of a scandal, a rare window into the lives of this country's top military leaders, from the extraordinary privileges to the pressures that come with the enormous power. whatever it takes, get to sears super saturday with friday preview! with 60% off sweaters for the family. this led tvfor just $119.99. and this craftsman impact wrench, for $89.99. this is how to gift. this is sears. >>> you're watching "ro

did actually sue individually daniel mudd he was support for c.e.o. of fannie mae and that that lawsuit is going forward in court the f.c.c. beat the motion to dismiss to dismiss i mean there's a little bit of hope there but there should be much larger penalties for all of those g.s.c. executives who allowed this to happen because who's paying for it max the american taxpayer care so what so now we're paying the f.c.c. to like not do their job basically well yes you see famously surfing the internet for porn all day so we're subsidizing a bunch of bureaucrats to whack off to porn while the banking system implodes due to massive fraud now imagine suntrust by a bank i immediately thought of my days on wall street in one nine hundred eighty s. because i used to work with i have clients of executives at sun trust when they were embroiled in massive banking fraud and scandals back in the eighty's so this is a story bank that. you know seems a break will break the law you know going to the bathroom we can't seem not to break the law the famous of course for