Greg Lippman News Today

First episode in special series talking to senior figures in the CLO market

House Speaker Cameron Sexton wants to create a new kind of “opportunity” charter school option in Tennessee for at-risk youth.

HOMBRE Magazine - The worlds leading publication for Latin men.

going up. i cant refinance and all of a sudden im defaulting. >> and steve eisman and others mike burry and others are sitting there watching this -- betting that it will all collapse. >> right. betting that it will all collapse. >> are they risking very much? i mean you go into the billions of dollars that they have invested in these bonds and then they -- let me finish this paragraph -- >> all right. you kind of hung up on this. >> well, i did because the paragraph here -- >> dont gi...

there was an argument that credit card companies were charging some poor guy 25% interest on overdrafts. if we can get that same guy. that same guy owns a house. he has equity in a house. we can justify limiting to him at a much lower rate because our loan is secured by the house. it will be good for everybody because he can pay off his credit cards. >> who is getting scant at this point? >> nobody should have been. in theory, it could have worked. the problem was, the consumers were p...

>> charlie ledley and greg lippman. >> but why did they -- did they tell you why they were only going to focus on him? or did steve eisman say im not going to participate? >> steve eisman said, im not going to participate. all of the characters were -- i had a very -- i had a privileged access to wall street because of liars poker and other books that people were willing to talk to me who werent willing to talk to other people. and i developed relationships with these subjects over a l...

>> jack: welcome to the broadcast. to want, michael lewis, author of the new book "the big short, it chronicles wall streets financial crisis through the eyes of some people who saw it coming and the question is why didnt? >> they arent creators of wealth, the people on wall street. thats right. and theyre supposed to have... theyre supposed to have a useful symbiotic relationship with productive enterprise, not a destructive one. i mean, again, if you back away from it, what are these...

>> jack: welcome to the broadcast. to want, michael lewis, author of the new book "the big short, it chronicles wall streets financial crisis through the eyes of some people who saw it coming and the question is why didnt? >> they arent creators of wealth, the people on wall street. thats right. and theyre supposed to have... theyre supposed to have a useful symbiotic relationship with productive enterprise, not a destructive one. i mean, again, if you back away from it, what are these...

>> jack: welcome to the broadcast. to want, michael lewis, author of the new book "the big short, it chronicles wall streets financial crisis through the eyes of some people who saw it coming and the question is why didnt? >> they arent creators of wealth, the people on wall street. thats right. and theyre supposed to have... theyre supposed to have a useful symbiotic relationship with productive enterprise, not a destructive one. i mean, again, if you back away from it, what are these...

>> jack: welcome to the broadcast. to want, michael lewis, author of the new book "the big short, it chronicles wall streets financial crisis through the eyes of some people who saw it coming and the question is why didnt? >> they arent creators of wealth, the people on wall street. thats right. and theyre supposed to have... theyre supposed to have a useful symbiotic relationship with productive enterprise, not a destructive one. i mean, again, if you back away from it, what are these...