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The message has been, you guys in washington don't understand our business. so you should keep it to yourself and let the professionals like us, the smartest guys in the room do what we do best. which is why it was a little embarrassing for jamie dimond had somehow managed to lose more than a billion in credit risks. the position was uncovered and exposed and dealt with quickly enough -- what roar uncovered positions are lurking out there or what the next big wall street screw up might look like. this is the spector that haunts

Doesn't stay in europe. it moves like grease-lightening everywhere. you remember the contagion in 2008 we saw with lehman brothers and it sort of sped around? well if we see some banks in europe have problems it could spread very quickly back to this side of the atlantic and that would be really bad and credit risks would be awful. megyn: we're seeing more european countries move toward social i'll. so they don't seem to be in favor of limited austerity measures in place over there and raises questions about the what the future holds. debt is more than 100% of the gdp, work product out of coun...

Strong growth peer, you do have rising rates, but that does not cut home prices. >> but the action does not have anything to do with mortgage rates, 32% of sales are people paying cash. so people are making monday any in housing. make no mistake, we look at the pictures on the wall and we talk about the tens of thousands of dollars of value people have lost in their home. there are people right now making an awful lot of money in real estate. >> orange county. foreclosures are selling in a month and a half. foreclosures and short sales are the hottest product in orange county. you see this bec...