Page 42 - Vicky Ward News Today

Point. >> exactly. louise, do you think they can break through to the american public tomorrow on capitol hill with the argument were already hearing from goldman sachs? >> thats the struggle for all these investment banks. they did have a duty to their own shareholders but, you know, the question now as we look ahead is given that they were bailed out by the government and enjoyed government backing now, what duty do they have if anything new to the broader society? is there a broader duty they...

They lost 1.2 in 2008 and theyre going to say senator levin is being political. theyve been under it for the last week and i think tomorrow youll see lloyd blankfein, you know, fight back. >> to bring up what vicky is saying these are just a few e-mails and goldman sachs can point to what they lost but when you look at the polling you have people who want overwhelmingly some kind of reform and when you hear things like we made some money and this kind of language, were making serious money, and ...

Some money related to similar assets those bonuses werent given back so it is relevant how much money they made on this deal and also relevant what they were telling clients at the same time that they were getting negative on housing and thats one thing that this hearing will focus on, what they told clients versus what they did. >> vicky, you want to get in? >> yeah. i would say their argument will obviously be that their job is to hedge and that they were actually arguing risk well as opposed ...

But i think the people around him have warned him that when he turns up the populous rhetoric, it doesnt help matters. >> vicky, he gave us neither the rhetoric or -- today. a lot of people like dylan might say its time for the president to clearly identify himself as a lobbiest for the people against the best lobbiests in the country who are against him. >> sorry, chris, whats the question? i mean, i agree with dylan on almost everything he says. >> both the rhettic and realitity of this progra...

Vicky, your thoughts on what the president did or did not accomplish today. >> i still feel he hasnt addressed the real key question, which is how to stop too big to fail. we know everything he said. wall street already knows that. the people he needed to be speaking to werent there. this issue of language on too big to fail, a $50 billion resolution fund, it still is not making sense. >> steve, your thought. >> well, you know, chris, these things are not thought about the details of the financi...

Their reputation is on mean street. theyre not working for main street. and they sincerely believe they didnt do anything wrong. they believe they have an excellent case. theyre going to prevail in a court of law. they dont think they have anything to apologize for. theyre doing what they prompt to do, theyre making tons of money. thats what their shareholders want. thats what their customers want. so they feel defiant. >> and vicky, theyre also circling the wagons. youve done some reporting on ...

That there were. lloyd blankfein was not on this call. he basically acknowledged the lawsuit in a statement saying -- thanking their clients for their business and for a good quarter. >> yes, there is a massive pr problem here, the arrogance that you were referring to there, vicky. suzy, let me ask you first. the average people out there, im not talking about wall street insiders. its hard to wrap your head around the fact that most of america is still really struggling right now. and they are, ...

>> all right. guys, thank you very much to vicky and christine, and i know suzy welch is going to stay with us. and also the revolving door between wall street and washington. nothing new here. but nobody does it better, frankly, than goldman sachs. and coming up we are going to name some names on that front, right after this. and you have a heart attack. thats what happened to me. they said the quick thinking of chewing an aspirin probably kept me alive while i was on the plane. im on an aspiri...

Double-take in his relationship with president clinton there and then our town square today the devils casinos, ed, to vicky ward taking us inside of our new book with her insight into the toppling of lehman who may be one of the chief propirietiors. lehman brothers had an interesting business model. for highway safety calls it a "2010 top safety pick." consumers digest has called it a "best buy" two years in a row. and with a 100,000 mile powertrain warranty... we call it...peace of mind. chevy...

Unfortunately all too similar behavior in a new book "the devils kasino" for the first time ever reveals how four working class guys from long island, more from wall streets good guys to some its most corrupt players whose actions nearly collapsed the entire u.s. economy. joining us now the author of that book "vicky ward" also a contributing editor for "vanity fair." congratulations on the bill. >> thank you, dylan. >> and i will quote from the book "ceo dick fuld neither a leader but a dazzlin...