were they overleveraged? yes.ut everybody wanted them to be overleveraged, and congress was as guilty as everybody else. and of course we live in a world where somebody else has to be guilty, it can't be you, it has to be somebody else. so we go after the bankers, which we have always done. they are hardly without sin, the worst thing they did was none of the documentation and those kinds of things. but they were just part of something that everybody wanted. you wanted the world to keep expanding and the good times to keep rolling. until one day they don't. ♪ warren: if you look at 2008 and the institutions that failed or came close to failure. if you take aig and citigroup and you take wachovia and washington mutual and you take freddie mac and fannie mae, the stockholders of those companies lost hundreds and hundreds of billions of dollars. citigroup did not go under, but when the stock holders lose 90% of their value, it really does not make much difference, if you have $1000 invested, whether you end up with $

were they overleveraged? yes. yes.anted them to be overleveraged, and congress was as guilty as everybody else. and we live in a world where somebody else has to be guilty, it can't be you, it has to be somebody else. so we go after the bankers, which we have always done. they are hardly without sin, the worst thing they did was none of the documentation and those kinds of things. but they were part of something that everybody wanted. we wanted the world to keep expanding and the good times to keep rolling. until one day they don't. ♪ warren: if you look at 2008 and the institutions that failed or came close to failure. if you take aig and citigroup and wachovia and washington mutual and freddie mac and fannie mae, the stockholders of those companies lost hundreds and hundreds of billions of dollars. citigroup did not go under, but when the stock holders lose 90% of their value, it really does not make much difference if you have $1000 invested and you end up with $100 or not. so there in my view, there has been no mor

so the message was clear, we'll get control of this overleverage situation and the capital outflows.he shanghai down 0.6%. all sectors declining except the defense sector. we saw resource firms on the hang seng index, with that index also down. in australia, the asx 200 down 0.4%. but the mining index hitting a two-month low, down 1.6%. in the broader region, we saw caution in the asia pacific area with the nikkei ending flat and the kospi up 0.10%. >> pauline, thank you very much. >>> shares of gopro getting slammed. the company posting weaker than expected sales for the latest quarter and releasing soft outlook for the current period. gopro blaming wider losses on a tax related charge and a nearly $37 million charge tied to restructuring costs. >>> chipotle's quarterly earnings coming short of wall street's targets. sales falling 4.8% during the fourth quarter but they expect same-store sales to rebound this year. >>> amgen posting a higher than expected fourth quarter profits. sales of a rheumatoid arthritis drug driving the product. >>> it's super bowl weekend and a big one for a

dodd-frank you may want to keep the stress -- testing not letting fjz into proprietary positions overleverageere is runs the occ will walk into mid sized obtaining you could have a performing alone never missed a payment say we don't like that alone, put it in the nonperforming category, and increase your about reserves. >> then the tax -- talking to morning about o polar of adjustment tax congressman brady joined me yesterday on "sunday morning futures" what he said about border adjustment tax. >> our current tax code favors foreign products over american products drives these companies offshore, so we are determined to end that a so we are going to have a tax code at the end of the day let me make this prediction we are going to have a tax code at the end of the day that no longer favors foreign products over american products, we are going to end the tax on made in america exports so we can compete and win anywhere in the world and we are going to not julinate we are going to obliterate any tax center of these to move american jobs overseas. >> so the tax the board adjustment tax things go