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| TIME | SPEAKER | TEXT |
|---|---|---|
| 00:00:32 |
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AFTERNOON I AM PATRICK ROBINSON I DID IT THE RIGHT TO KNOW THE BUT I AM USUALLY A GHOSTWRITER BUT... |
| 00:01:23 |
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HE SAID YES. HE WANTS TO BLOW THE LID OFF OF LEHMAN BROTHERS HE HAD READ LOS SURVIVOR THAT WAS ANOTHER... |
| 00:04:20 |
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AND HE SAID, -- SO ANYWAY, WE DID THIS. I ACTUALLY HAD TO ASK HIM EVERYTHING. I JUST DON'T KNOW THAT... |
| 00:05:13 |
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BUT WE DID THIS. I REALLY DIDN'T KNOW ABOUT -- WHO DOES UNLESS THEY HAVE SERVED IN A WARSHIP. YOU... |
| 00:06:14 |
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SO, LARRY AND I SET SAIL ON THIS ADVENTURE, AND HE CAME OVER, AND HE WAS VERY -- IT WAS THE HARDEST... |
| 00:18:45 |
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HE IS A TOUGH ACT TO FOLLOW. GET THIS UP A LITTLE BIT. I WANT TO THANK EVERYBODY FOR COMING AND SPENDING... |
| 00:35:17 |
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LOOK AT THE LEVERAGE DOLLAR AROUND WALL STREET AND THE DIFFERENT BANKS. AND THERE BE ACCOUNTABILITY... |
| 00:36:48 |
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WHO IS IT THE U.S. REPRESENTS THE U.S. TREASURY? THAT THEY ARE SUPPOSED TO OVERSEE? THERE WAS A WOMAN... |
| 00:37:28 |
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THERE ARE STATE ATTORNEY GENERAL'S EVERY STATE HAS AN ATTORNEY GENERAL. THOSE OR RELIEVE THE CHIEF... |
| 00:39:45 |
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BECAUSE OF A LOT OF PEOPLE SAY IT WAS A MORAL HAZARD MOMENT SOME PEOPLE WANTED TO MAKE A STAND I THINK... |
| 00:40:27 |
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CITIGROUP? |
| 00:40:32 |
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BANK OF AMERICA, CITIGROUP, JPMORGAN AND GOLDMAN SACHS. |
| 00:40:40 |
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MORGAN STANLEY WOULD BE NUMBER FIVE OF. |
| 00:40:44 |
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HOW HAS WRITING THIS BOOK CHANGE YOUR FINANCIAL CAREER? |
| 00:40:50 |
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A LOT IN THIS SENSE I WILL NOT BE ON THE SELL SIDE WHICH MEANS THAT WILL NOT BE WORKING AT A TRADING... |
| 00:42:44 |
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YOU MADE A COMMENT THAT THE BEGINNING FACT THIS WAS THE END OF CAPITALISM IN AMERICA. |
| 00:42:52 |
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NOT THE END BUT IT HAS BEEN CHANGED FOREVER BECAUSE FIRST AND FOREMOST, YOU HAVE THE FED WINDOW THE... |
| 00:44:31 |
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WHY BEGINNING IN 2005? WHAT HAPPENED BEFORE THAT THAT BROUGHT ALL OF THIS CHANGE JOHN? |
| 00:44:39 |
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IN TERMS OF THE PROBLEM? |
| 00:44:40 |
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DEREGULATION AND? |
| 00:44:45 |
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DEREGULATION IS FINE IF YOU HAVE GOOD LEADERS WATCHING THE REST. WHAT HAPPENED IS YOU HAVE THE DEREGULATION... |
| 00:46:14 |
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[INAUDIBLE] |
| 00:46:18 |
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THEY DID AT LEHMAN BROTHERS BUDS THEY WERE ANNIHILATED AND LOST A LOT OF THEIR WEALTH. THEY DID BUT... |
| 00:46:33 |
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BY VOLUME LITERALLY. |
| 00:46:37 |
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WHAT IS YOUR HANDLE? [LAUGHTER] |
| 00:46:39 |
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I NOTICED YOUR COMMENTS THAT YOU ARE WORRIED ABOUT FINANCIAL CONDITIONS WOULD YOU CARE TO COMMENT?... |
| 00:46:45 |
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YES. I THINK THE PATIENT WAS ON THE OPERATING TABLE AND GETTING LIFE-SUPPORT A COUPLE MONTHS AGO.... |
| 00:48:01 |
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IF WE BEEN-- LEHMAN BROTHERS GOES BACK TO HAVE ANY SENSE HOW WILL BUT TODAY IF IT BOTTOMS OUT AND... |
| 00:48:15 |
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I AM GLAD THE U.S. THAT I DESPISE THE BAILOUTS BUT WHEN THEY I HAVE DONE MY BEST TO MATHEMATICALLY... |
| 00:51:44 |
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HOW LONG WILL THE BE BEFORE THE MARKET RECOVERS? |
| 00:51:47 |
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HONEST TO GOD WARREN BUFFETT IS THAT EVEN KNOW THE ANSWER BUT. |
| 00:51:53 |
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10 YEARS? |
| 00:51:57 |
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IT WILL NOT BE A THE SHAPE RECOVERY PEOPLE SAY IT WILL BUT IT WILL BE MORE LIKE A W SHAPED RECOVERY... |
| 00:52:07 |
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OR 10 YEARS? |
| 00:52:08 |
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IT COULD. THE S & P 500-1972 WAS 810 AND IN 1982 IT WAS A HUNDRED 10. YOU HAVE SOME PERIODS WHERE... |
| 00:52:32 |
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IF YOU THINK HAVING THESE BOARD OF DIRECTORS IS SO IMPORTANT AREA ARE ON U.S. TREASURY CANNOT FOLLOW... |
| 00:53:10 |
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MAKING MOVIES WITH SPENCER TRACY. [LAUGHTER] |
| 00:53:19 |
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ON OUR BOARD OF DIRECTORS. [LAUGHTER] IT IS OBVIOUS WHAT THEY WERE DOING. THEY WERE SITTING ON TOP... |
| 00:54:24 |
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WHEN NEXT QUESTION IS IF THEY WERE BAILED OUT BY THE SAME? |
| 00:54:29 |
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THAT IS THE PROBLEM I HAVE WITH MERRILL LYNCH. IT IS DISGUSTING. MERRILL LYNCH WAS DESTROYED BY KEN... |
| 00:55:43 |
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[INAUDIBLE] WHAT ABOUT THE MOVIE? [LAUGHTER] |
| 00:55:52 |
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PATRICK IS WORKING ON THAT. WE DO HAVE THE AUDIO ON CD. [LAUGHTER] HOW DO THEY COMPEL SUCH A PART ... |
| 00:56:20 |
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IS A BIT AMAZING? I DON'T KNOW IF YOU THOUGHT THIS BUT DARRELL ISSA HAD THESE HEARINGS OVER THE LAST... |
| 00:57:23 |
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THAT WOULD DEFEAT THE PURPOSE BUT THE POINT WAS TO CONVINCE THE MARKETS THEY WERE WORTH THAT MUCH.... |
| 00:57:32 |
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IT IS A POKER GAME THE GOAL WAS TO LET EVERYBODY ADDIE'S THEY WILL LET THEM GO BUT NOBODY ELSE AND... |
| 00:58:05 |
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WILL WE BE GOBBLED UP THAN JUST HAVE THREE BANKS THAT WE ARE CONTROLLED BY? |
| 00:58:12 |
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THAT IS ONE OF THE PROBLEMS. THAT IS ONE OF MY GREAT ALLIES IN THE BOOK THERE IS A SCENE WHERE THERE... |
| 00:59:33 |
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THAT WOMAN'S SAID BECAUSE WE'RE SUPPORTING THE AND I AM GUILTY, CHASE CITIGROUP AND J.P. BECAUSE WE... |
| 00:59:50 |
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YES. OF THOSE OF THE GREAT THINGS THAT HE ARTICULATES SO BEAUTIFULLY AND SIMPLY THE SECURITIZATION... |
| 01:00:46 |
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THAT IS ONE OF THE CLASSICS KNOW PEOPLE WITH NO INACOM OR NEW JOB OR NO ASSETS. [LAUGHTER] |
| 01:00:55 |
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$400,000 PER YEAR BUS DRIVER HE DID NOT HAVE TO PUT HIS THEN COME DOWN AS THE OCCUPATION BUS DRIVER?... |
| 01:01:41 |
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I WAS LISTENING TO PATRICK AND HE WAS VERY INFORMATIVE AND VERY EDUCATIONAL PRESENTATION AND THERE... |
| 01:02:58 |
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ALSO AROUND THE WHOLE PLAY IS. THEY QUICKLY REALIZED SOMETHING WAS NOT RIGHT WHEN THEY WORKED OUT... |
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.