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Detroit. he's going through a backdoor process whereby he diverts money already allocated to something else, diverts it to bail out detroit. it is a backdoor bailout, which is politically attractive for the president but not perhaps for the governor of michigan. let's be clear. it is aç bailout. case closed. it's a bailout. >> in disguise. >> the unions representing the retirees of detroit are getting the money. the banks who lent money to detroit, they're not. the bondholders who lent money to detroit, they're not getting the money. this is a bailout of the retirees of the unions of detroit...

High taxes and declining state finances. why shouldn't wealthy people do the same in illinois? taxes are way up there. the state's finances are a mess. they know they're going to call on the rich to pay your fair share. they know it's coming. >>gretchen: some businesses have gone to wisconsin and indiana. >>brian: what you're talking about is if they're going to increase the taxes in the state itself, that's one thing. but -- and this is something you've been hedging for over a year -- there's always a possibility uncle sam's got a big checkbook. let's write a big check to illinois. >> it's ha...

Dividends, you know, being sort of stingy with their shareholders and employees. >> so, dan, look, i'd be thrilled if chrystia called your optimistic, although it's still pretty grim scenario, turns out to be true. >> i would be thrilled if i turned out to be right too. it would be the first time since 2006. >> but here's a -- don't say that. here's a couple things that people are talking about, that at least i would like to get your reaction to. one is potential downgrade of the french government's rating that some say could come early in 2012. and that's related to the broader question that ...

Dividends, you know, being sort of stingy with their shareholders and employees. >> so, dan, look, i'd be thrilled if chrystia called your optimistic, although it's still pretty grim scenario, turns out to be true. >> i would be thrilled if i turned out to be right too. it would be the first time since 2006. >> but here's a -- don't say that. here's a couple things that people are talking about, that at least i would like to get your reaction to. one is potential downgrade of the french government's rating that some say could come early in 2012. and that's related to the broader question that ...

How close you can get to them and hopefully, if you're smart, be just careful enough not to go over them and i think that's what goldman has been doing for more than 100 years some, it's no surprise they have been in and out of trouble their whole existence. this last bout of trouble they have had in the last two years is very much in keeping with their whole history as a firm and that was one of the biggest revelations i found in writing this book, i was a banker on wall street for 17 year, dylan. i had no idea that goldman was in as much trouble continuously as i found out that they were. yo...