Lly Make Case News Today : Breaking News, Live Updates & Top Stories | Vimarsana

They lied. >> the idea that there were people on wall street, that the ratings agencies would play the role of cop, of keeping everybody is honest is how they deflected any idea that there should be government regulation. >> this was the old line self-regulation. we have a mechanism in place to make sure we will not defraud you the public and the marketplace. of course, self-regulation is one of the great oxymorons of all time. but just so it's clear, the rating agencies are insurance that is paid for by the investment banks. so the investment banks can pretend that what they're marketing is g...

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Administration was deemed a failure, which many of us believed broadly that it was, a lot of conservatives said that's true. and instead of trying to moderate the party then, they said the problem was this compassionate conservative guy was too liberal. so they pulled the party way over to the right. the problem they have now is the tea party folks are the folks who kind of got them there in 2010. and it's as if the republicans are saying well, we needed your votes to drive this car to the country club, but we really don't want to let you inside the country club. so they're courting a kind of ...

He says it's unfounded and they're going to win the case. >> floyd abrams was saying it was a first amendment right. show them that they knew what they were saying was not the case is what makes it a fraud as opposed to simply being wrong. being wrong isn't a crime. we're all wrong all the time. lying intentionally in the marketplace is what transforms into an actionable offense. >> i knew you would help me understand this better. eliot spitzer, former governor of new york, former attorney general of norm o new york. always great to have you. will you come back again soon? >> sure. >> all righ...