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Of staff, as the group's president and ceo. he will work with jamie diment who is going to be chairing this group for the next two years. what's interesting is that bolden last year led a marnl push to keep donald trump from becoming the republican nominee. now says that was then, this is now, and trump has earned our respect, and we are looking forward to working with the administration. >> just want to give you a little bit of numbers on the last time donald trump held a press conference and now that he has promised on the 11th and possibly the 12th. you know, it's been 160 days since he has...

Trades is no longer good for the money, and then it falls apart. >> everybody panics. >> that's what happens. it happens every single time. will we have another crisis again? absolutely. jamie diment said, daddy, what's a financial crisis, and he said something that happens every seven years. they laughed in the room at the time, but there's some real truth to that. if you think about this last financial crisis starting 2007, do the math, we're not that far away from the next one. >> what will you see then which we could do that we're not doing? in terms of somehow preventing another crisis li...

As all financial crisis are based on debt. too much debt in the system. there was too much debt at the banks. they had levered themselves up too much. the story has now changed. it's no longer about financial institutions. it's about this country. it's about the country you talked about in europe. it's about municipalities. that's what happens. the worst part about it -- i think what hopefully this project will get people to remember is confidence doesn't erode over years and months. it erodes in days and hours. and at some point somebody decides that someone in the daisy chain or the line of ...

>> everybody panics. >> that's what happens. it happens every single time. will we have another crisis again? absolutely. jamie diment said, daddy, what's a financial crisis, and he said something that happens every seven years. they laughed in the room at the time, but there's some real truth to that. if you think about this last financial crisis starting 2007, do the math, we're not that far away from the next one. >> what will you see then which we could do that we're not doing? in terms of somehow preventing another crisis like the one we just -- >> there's two issues. we need to think lon...

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...