as for harvard historian, neil ferguson, he has been in his words, a moderate doomster, warning on this program just a few weeks ago that the gigantic budget deficitities of united states could eventually have dire consequences. neil, what should we make of the fact with all of this bad news, goldman sachs had record profits, jpmorgan did pretty well? >> well this goes to show that in the darwinian world of finance there are winners as well as losers and the best-won banks are now in a position to make some serious money, particularly on proprietary trading, which has been one of goldman sachs strong suits. >> which is what to explain to people? >> making trades, transactions with the firms on cal tall. . they are playing this relatively cautiously, interesting to see the other banks, morgan stanley, for example, to report much more disappointing losses and reminds us that the banking crisis isn't over it may be over for goldman and it maybe over for jpmorgan, but there is a whole tier of other banks, particularly regional banks that are still in real difficulty and the losses on real e