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Are pretty good steps. these are also complex issues and john paulson is on one side and it was the german bank on the other and who is to say, and i agree with the concerns about regulators. >> gregory, thank you so much. kyra, thanks to you. i'll be letting everyone know i'll be following your tweets and facebook messages throughout the day during the next couple hours of "the newsroom". you can watch live hearings going on right now, just go to cnn.com/live. world's biggest retailer and world's biggest class action lawsuit. the question, has walmart been shafting women on their paycheck...

Jersey heating repairman. jack fell behind on his mortgage, so far behind that he lost the house to a foreclosure. on monday it was put up for auction at the county hall of records. >> thank you for inviting me to appear today. >> reporter: this is hedge fund manager john paulson, he bet that jack and thousands of other americans would not be able to pay their mortgages. paulson bet right and made $1 billion. this is goldman sachs, the nation's most prestigious investment firm. goldman sachs set up the bet for john paulson. jack's house was one of the cards and goldman sachs was supposed to be...

Known throughout goldman sachs and up and down wall street. they said can you create these kinds of transactions and it's sichl liftic to say the dice were loaded and what happens is it's give and take and they are potentially toxic mortgages and it kicks them out in conjunction with the investors. so it's a little more complicate hand that, but we like insights like that from washington today. >> you know, you mentioned hedge fund king john paulson and you wrote in your book that there was a senior trader at bear stearns. he was month those at the investments bank who sat through a meeting wi...

Whether the officials that we're watching here can actually be trusted to make a difference. gregory, what i would like to do is show you a question that we got from one of viewers. i would like to know what john paul son's role was in the derivatives if i afshg on and why the sec did not discover the presumed fraud by goldman sachs much sooner. gregory, let's keep in mind they're coming off the madoff scandal in which america saw this profound failure by the sec and we're talking about an agency that missed this massive ponzi scheme even though someone came forward and said hello? ponzi schem...

Misleading their investors by not telling them that john paul son and his team played a role in selecting some of this underlining securities for this deal. so it's more of a misleading rather than a conflict of interest charge. >> all right. so you know this from covering this for a long tile. we know this. that people are mad about what happened in the economy. they think it's not fair dealing. goldman has been one of those names that continues to pop up as having made money on something everybody else has lost money on. and i guess my concern as we go into these hearings tomorrow is that it...