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you can blame the bankers that went wild. regulators that weren't minding the store. >> what goes on behind closed doors on wall street? >> we stand strong, and on the other side we'll eat golden sludge. >> could it happen again? >> i don't think anybody realized that we were within a day away from a major international catastrophic and economic meltdown. >> james wood from "too big to fail," andrew ross sorkin, the man who wrote the book on the crisis. this is "piers morgan" tonight. good evening. it's costing dominique strauss-khan $1 million to get out of jail. the judge is gran...

agencies. you can blame congress. you can blame the bankers that went wild. regulators that weren't minding the store. >> what goes on behind closed doors on wall street? >> we stand strong, and on the other side we'll eat golden sludge. >> could it happen again? >> i don't think anybody realized that we were within a day away from a major international catastrophic and economic meltdown. >> james wood from "too big to fail," andrew ross sorkin, the man who wrote the book on the crisis. this is "pierce morgan" tonight. good evening. it's costing dominique strauss khan $1 million to...

>> you can blame greenspan. can you blame the rating agencies. you can blame congress. you can blame the bankers that went wild. regulators that weren't minding the store. >> what goes on behind closed doors on wall street? >> we stand strong, and on the other side we'll eat golden sludge. >> could it happen again? >> i don't think anybody realized that we were within a day away from a major international catastrophic and economic meltdown. >> james wood from "too big to fail," andrew ross sorkin, the man who wrote the book on the crisis. this is "pierce morgan" tonight. good eveni...

The second reason is that this compensation structure in which you get all of the upside but don't have that losses on the down side, if you have a really good year, you have a big bonus. if your firm loses money, there aren't clawback provisions. that presents a lot of risk taking. the third thing is that it's just fundamentally evisiates our system. these people were not making this because they were geniuses. >> what about that we as a society -- i know this is the oldest question in the book -- how we valley oue one david taps much as we value half a million new teachers? >> it's insane. a...

Than other americans who collectively made $25 billion last year. like for instance 1,200,000 first-year privates in the u.s. army. not sure exactly how many chris h hayes' you can buy for $25 billion, but tonight we have the one and only. >> quite a few. i come pretty cheap. >> let's start with the devil's advocate. this is the american apeople's exhibit judge should the judge should why should the rest of us still be concerned about them? >> what ends up happening is that middle class goods, the kind of pillars of a good middle class life, particularly housing and higher education, the price...