Recently we call it success. U. S. Economy that used to be the envy of the world is in the most serious problem since the great depression. Inflation is rising. There is not much growth. Ta we were not in a great depression, but the United States was in the dumps. On wall street, it was cold, gray, wet, and miserable. There was no comfort to be found outside. For investors, there was not much inside either. The tickers carried almost nothing but bad news. People were skeptical of the stock market. It was a sleepy wall street back then. Most expect a serious recession with two million more americans losing their jobs. We are in the worst economic mess since the great depression. From the first moments of his presidency on, president reagan let it be known that his top priority is the nations economy. I put a freeze on pending regulations and set up a task force under Vice President bush to review regulations with an eye towards getting rid of as many as possible. The philosophy is markets worked better than government controls. This represents the first step in a financial program. Introducing deregulation began to get much more creative and profitable, too. In money matters, wall street where leadershiping stocks have investors jumping. When the markets open for trading, the dow jones average will stand at the highest ever. Stock and bond prices soared in a frenzy of activity. Optimists on wall street are talking about the beginnings of economic recovery. The supporters of deregulation point to the stock market that a deregulated economy makes money for everybody. The stock market took off like a rocket and the public saw this happening and they would read about it. All sorts of people who used to have nothing to do with this world started pouring their own money into it. Thats in large part also which drove prices to go even higher. The motorcade went on the new york stock exchange. The last five years we moved from melase to hope, confidence and opportunity. The volume of shares hitting record highs and more americans thereafter ever before participating in the market. Were bullish on the america. Reagan shows up and they were like Ronnie Ronnie that was a way of saying america is back. He was able to link economic faith with faith in america. It seemed to say no recent president would beat mr. Reagan for the honor if a vote had been taken. They gave him round after round of cheers. We are going to turn the bull loose. The whole world from reagans white house on was saying wall street was the engine of our economy. It represents growth. It represents opportunity and the american dream. These guys were basically saying we are going to go do it. This is the big draw on wall street. The smell of money. This is where the action is. Over the counter for lehman. Involving millions of shares and millions of dollars made and lost and its a game for young people. When you look back at what you have done sitting at this desk, what gives you a sense of satisfacti satisfaction . I guess making a lot of money. For yourself . The economy started to recover and become more vibrant, there was a great sense of exhilaration that we survived this miserable period. Lets celebrate and party. We have money to spend. The fad is to have big salaries, fancy clothes and fast cars. They are yuppies. Who are the partiers with portfolios like this. A yuppie owns a mcintosh and eats quiche and drinks white wine. A 29yearold makes a million a year and two million the year after that. Capitalism is no sin. Its in. Is money the number one goal . Yes. In a world where mere millionaires are a dime a dozen, there was a billionaire in town. He is 40 years old and made his money in manhattan real estate. He said its a symbol of quality. Others say its hype. Donald trump is the brand and he is the symbol of a swash buckling approach to conspicuous consumption. People have become celebrities just from being rich. Their celebrity is that they are rich. Donald trump ventured into gambling and professional football and could negotiate with the soviet union. The power is nonsense. I love the creative process. What are about the name of trump city. Trump plaza. Trump castle . It sells. It has nothing to do with the ego. All i know is it sells. What do you do . Security. We dont need security. There are people outside. Leona helmsly was much bigger than trump Real Estate Developers in new york. I asked for something and did not get it from you. I want it. Leona was the queen of mean. The idea was she was so mean because she wanted you to have a great experience at one of her hotels. Really . Seemed like she was just mean. Oh, my. Its paradise. He stands here and said im taking inventory. I own this and this and this and that one and that one. He plays monopoly with real buildings. 26 acres and 28 rooms for just the two of them. This building structure is just what . Its the enclosure of the swimming pool. And up top . Up top we are going to have of course a tennis court. And an Old Fashioned way. Leona hemsly was a symbol of the excess of the 80s. I make a living. Alright, i brought in new max protein. To give you the protein you need with less of the sugar you dont. Ill take that. [cheers] 30 grams of protein and 1 gram of sugar. New ensure max protein. In two great flavors. I never count the wrinkles. And i dont add up the years. But what i do count on. Is staying happy and healthy. So, i add protein, vitamins and minerals to my diet with boost®. New boost® high protein nutritional drink now has 33 more highquality protein, along with 26 essential and minerals your body needs. All with guaranteed great taste. The upside im just getting started. Boost® high protein be up for life boost® high protein hey, what do you guys wanna listen to . Ooh, hiphop reggaeton. Edm. What about bubble trance . Bubble what . Bubble trance. Its a thing. man oh. My point is, everyones got different taste. Thats why verizon lets you mix and match your family unlimited plan so everyone gets the plan they want, without paying for things they dont. And right now, the whole family can get six months of free apple music on verizon. Oh. So lets play that reggaeton. Old school reggaeton, not the new stuff. vo get 45 million songs with six months free apple music on us. Only on verizon. Switch now and get 300 off our latest phones. Gentlemen, i have just received word the louisiana purchase, is complete instant purchase notifications from capital one. Technology this helpful. Could make history. Whats in your wallet . Need a hair smoother get super fruit moroccan argan oil. With fructis sleek shine. Hair is super sleek, even in 97 humidity. No parabens. Garnier fructis sleek shine. Super fruit. Super hair. Garnier. This is the way we live now. No snow, no rain, no loud noises. Everything is perfect in the mall. You have 16,000 malls popping up like mushrooms and they are the temples of the Great American religion, shopping. Pam and melissa come to the mall almost every day. They call themselves mall rats. I love it. Its only 24. Consumerism took over in the 80s. People emerged from tough Economic Times and said wow, we can now spend. I want to you think about this also. Thats going to set your eyes off. The economy started growing and this was largely a consumerdriven growth for the economy that was funded by debt. The bankruptcy rate is soaring. The annual income is 32,000. They had 12,000 in unsecured debt when is they bought a home and they bought a washer and drier and microwave and beta max tv recorder and went bankrupt. I knew i didnt have the money, but if you have plastic money, nothing is 40e8ding you back. It became acceptable to have a credit card. You wanted to use it. Live from tampa bay, florida, its the Home Shopping club. Every doo dad and choch key. The order has been completed for one of the ruby placements. I have you down for two. There were parties and like minded consumers band to do what comes naturally. I want four of the bird figurines. You dont have to leave your house and stuff comes to you. Welcome to america. Give us 300 more people to call on their credit card right now. If you and enough people will send me 100 immediately, i need quick money. Go to the phone right now. Now quit talking about believing in god without ever acting. In all there are 1600 television minsters and of the 1. 5 million, three of them took in close to 5 500 million. The prime time creatures said they need the money to stay on the air and need to stay on the air to raise money. Money for the kind of electronic equipment any television station would be glad to own. God wants us to have the bills paid in full. It pays the bills if we would all just do something. Telee vanj limp grows, jim baker gets it. He said its not just about standing up and giving a speech, but in the age of television, the Johnny Carson approach and the be more ibtimate showing your lifestyle and beautiful family is essential because it brings people in. He is a brilliant entrepreneur and salesman of himself. Here are jim and tammy the appeal is powerful. Last year a Million People responded to the bakerss constant request for money. How many do you have . About 30. 30 what . Silver 7,000 clubs. Thats 90,000. Praise god. They have been criticized for their lavish lifestyle. I love nice things and we work very, very hard for nice things. The only difference between men and boys is the price of their toys. A fleet of cars and a string of fancy homes from palm springs, california to south carolina. They create the prosperity by them living well and having rolls royces, everyone will think god is shining upon them and thus upon us. That becomes the vehicle for their media empire and theme parks. Thats what the bible said. We are fishers of men. We have been using lousy bait. We built better bait to reach people. You can have a Lifetime Partnership with ptl for a onetime gift of 1,000. Four days of three nights every year for the rest of your life. The mix of god and greed ends up derailing them and breaking the very rules they are preaching about. Jim baker stepped down as the head of the ptl ministry. His resignation came because of a sexual encounter. Jessica hahn is to be paid monthly as long as she keeps quiet. He has been paying off this secretary. It seems to indicate the effort and money. He paid jessica hahn hush money, what else has he been doing with the money . Do you worry about the investigations . Not at all. History will prove the bakers were honest people. We interrupt this program for a special report. Jim baker from the ptl ministry is found guilty on all 24 counts of fraud and experience in charlotte, north carolina. He told Lifetime Partnerships even though he knew they were oversold. The Heritage Grand Hotel could accommodate 25,000 partnerships and 65,000 were sold. For the lower price, about 7,000 were sold for a building that had eight rooms. A caller sent them 15 for 15 years and thought god would ease her pain and the pain of her husband. I dont even have enough to live on. Baker could be sentenced to 120 years in prison and fined over 5 million. I would say i feel sad, but encouraged in god. Tammy baker said she could best describe her feelings in song. Its not over till its over. Or keep tabs on them. He skipped orientation for the beach . He takes after me. Join tmobile, buy an iphone 8, get an iphone 8 on us. Where were changing withs . Contemporary makeovers. Then, use the ultimate power handshake, the upper hander with a double palm grab. Who has the upper hand now . Start winning today. Book now at lq. Com. Introducing the allnew Volkswagen Jetta its not over till its over. Heres something you should know. Theres a serious virus out there that 1 in 30 boomers has, yet most dont even know it. A virus thats been almost forgotten. Its hepatitis c. Hep c can hide in the body for years without symptoms. Left untreated it can lead to liver damage, even liver cancer. The only way to know if you have hep c is to ask your Healthcare Provider for the simple blood test. If you have hep c, it can be cured. For us, its time to get tested. Its the only way to know for sure. For us, its time to get tested. Im a small business, but i have. Big dreams. And big plans. So how do i make the efforts of 8 employees. Feel like 50 . How can i share new plans virtually . How can i download an efile . Virtual tours . Zipfile . Really big files . In seconds, not minutes. Just like that. Like everything. The answer is simple. Ill do what ive always done. Dream more, dream faster, and above all. Now, ill dream gig. Now more businesses, in more places, can afford to dream gig. Comcast, building americas largest gigspeed network. Today we travel to the Lone Star State to visit tycoon, entrepreneur, t boone pickening, the highest paid ceo in the country. Wall street is in charge. Green as in money. He reigns over a foyer on that runs the entire length of the house and at the end of the foyer, we find this morning, Boone Pickens. Good morning, sir. How are you . Good morning, harry. Why dont we head into the trophy room, if you dont mind. T Boone Pickens was a Texas Oil Man who became the original corporate raider. He would buy stock in a company and talk about how executives needed to be tossed out and take over the company. Its only 1 20th the size. He buys the stock privately and he lets it be known he wants 15 from the shareholders and gain a seat on the corporate board. One thing i want to put in place. The stockholders own companies and management and employees. They agreed to buy back stock to stop his take over bid. The profit to pickens and his partners, 89 million. It is no secret that you made about a half billion dollars for losing on the attempted takeovers. Do you go in anticipating the loss is going to stand you very well . Are. You never like to lose, but if you lose and make money, it makes it easier. Someplace a guy got up and said i have a question. He said you are making a lot of money out of this. I said the shareholders are, too. He said yes, but you are a fast buck artist. Fast buck artist. Who in the hell would want to be known as a slow buck artist. Its Free Enterprise at its best. He was the first major investors was the first early tilts at golf and services all these famous deals that brought this new reality to the attention of other investors who followed in his wake and sought to imitate what he did. Im an investor and want to make a profit. It is not wrong to want to profit in capitalist america. Its fair. Ivan bosky doesnt want to run the Companies Just to profit from the run up in the stock prices. Forbes magazine estimates his wealth at over 200 million. Where is my share . He gave the commencement speech at berkeley and became famous for one line in the speech. Seek wealth. Its all right. You found wall street, use his words as the basis for the dialogue. Greed is good. Greed is right. Greed works. When Michael Douglas said greed is good, it was a cartoon expression, but there was truth to it. There was a sense it is okay to be greedy and maximize your wealth. What i want to see above all is this country remains a country where someone can always get rich. Big companies gobbling up little companies and little companies gobbling up big companies. There were. This was a leveraged buy out. They borrow using assets as collateral for the loan and in return the Company Issues ious. Because its so risky, they carry high Interest Rates and called junk bonds. You may not have heard of michael milken, but this 40yearold wall street wiz is said to be the most powerful financeur in america. He brought respectability to junk bonds and used the money for corporate raids and takeovers. Without mike milken, they couldnt have rated gulf, union and phillips petroleum. He said if you want to take over gulf, its going to cost 13 billion. He said i can get the 13 billion. Hes the guy that t Boone Pickens goes to. I dont know has heard of him. Here doesnt care about publicity. He just cares about doing deals and having power. He was the shadowy figure that those of us in the press never saw. You just heard. It was milkens genius. That is the correct word. It created the market and fuelled the take over phenomenon. We romanticized the characters. They are fat catss First Cousins to the financial manipulators, robert barons of the late 19th century. They are out there trying to make a buck by doing nothing and putting people out of work. Economists agree that some unemployment and hardship is unavoidable in making the United States lean and mean again, but the specialists are called corporate restructuring. They need a kick to become more efficient, less entrenched and that will probably do the economy a lot of good. Thursday they fended off a hostile take over bit. They took on a huge debt. Plann plants were closed and the company pays interest to 17 banks worldwide. They jump out of the closet and shout and buy up a company with its own assets, dismember it and erode the Industrial Base of this country. Maybe we didnt understand how it works, but we saw a lot of people lose their jobs and a few people getting super rich. The vibe of the culture being how much is enough . Enough what . Enough money. Enough power, enough influence, enough takeovers . This is my work. This is what i do. Let me do what i do. Its not a question of how much. From any one else. Why accept it from an allergy pill . Flonase relieves sneezing, itchy, watery eyes and a runny nose, plus nasal congestion, which most pills dont. Its more complete allergy relief. Flonase. Be right back. With moderate to severe Crohns Disease, i was there, just not always where i needed to be. Is she alright . I hope so. So i talked to my doctor about humira. I learned humira is for people who still have symptoms of Crohns Disease after trying other medications. And the majority of people on humira saw significant symptom relief and many achieved remission in as little as 4 weeks. Humira can lower your ability to fight infections, including tuberculosis. Serious, sometimes fatal infections and cancers, including lymphoma, have happened; as have blood, liver, and nervous sy