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To package mortgage derivatives or crappy mortgages, if you will, back before the last meltdown. that will always come up with the clever devices that do more harm than good. >> yeah, collateralization helps the subprime market completely implode. we're seeing the same thing right now were the stock market. i agree with black rock. you need real tangible asset that you can trade. i understand these are professional investors. the problem is it sets off a cascading effect with technical algorithms in trading. now you are retailers selling when they shouldn't and affects the average americans. i...

John layfield, my fear is that it exacerbates trends, compounds them what do you think? >> i agree completely. you're talking about the credit sweep, the xiv company you short the fear index. you're betting on a derivative of a derivative. that's what happened in the subprime crisis. this set off a cascading effect of al gor rhythm traitin tradin. the markets love this. you're having more trading. 60% is computers on the symptom market. once this reverse vix got blown up, lost 92% of its value in one day. set off the computer trading. this was a technical malfunction -- >> neil: and feeds on i...

Made particularly those involved in wad judgment, we want that to come to light. we want the temperature to come down as far as the political discussion. >> when you say that you have this fear of the cascading effect that the general public will sew doubts about the fbi and less willing to participate and help out with investigations, is that your -- have you seen any evidence of that or is that just today your fear? >> i think it's too new to have empirical data from fbi employees about an immediate negative effect, but one thing that my colleagues would tell me day-to-day when we go to work...

I made the difficult decision to leave a career i love, an organization i still love and will always love in order to defend it. >> so, josh, you know, we've heard the president say the rank and file are great. we've heard republicans say this isn't an attack on the fbi. these are just questions about the leadership. what is the mood inside the fbi of all the tens of thousands of agents? >> so the criticism as i mentioned -- criticism itself is fair. if someone wants to say we did something wrong. that is fair. in fact, it is incumbent upon our leaders to hold us accountable. what you see with...

>> we are going to see cascading effects. folks are going to work less hours. that's going to cause a cascading effect where, on the long term, we'll have health issues, family issues that can arise. so, yeah, it's pretty severe. >> you attribute this, you know, it's a climate related story, it's not just a city that didn't have, you know, capable system or water system for its people. >> correct. yes. definitely. yep. >> we thank you so much for joining us. thank you so much. >> thank you. >> let's talk with derek van dam with more on capetown's water dire crisis. he has lived there, has fami...