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believe in. >> jay me diamon the near collapse of the banking industry good for the jpmorgan chief burnishing his reputation as a superhero c.e.o.. >> we didn't make huge bets. >> jon: in the financial world, you don't normally hear praise like that unless it's donald trump talking about-- you know. (laughter) people don't expect so someone this handsome to be this smart and rich. (laughter) well, anyway, guess what happened last month. >> lawmakers are taking a closer look at jpmorgan's staggering losses and the shudder it sent through wall street. the largest bank first estimated i...

(cheers and applause) >> jon: it's just received the votes tonight from-- (laughter) i guess the emmissary. anyway, as you remember, i want to take you back a little bit. somewhere around four years ago our economy experienced a cyclical fiscal phenomenon known as a catastrophe [bleep] when our largest financial institutions began to collapse after making incredibly risky bets basically using our pension money to gamble on the value of our houses. because apparently the business is just taking your money and then loaning it out to other people at slightly higher interest rates is jus...