Detailed text transcripts for TV channel - CNN - 20100420:00:14:00
>> their defense is the european bank is incredibly sophisticateded. it doesn't matter to you if i made the decision or somebody is standing in the corner. don't pretend to us that's a material fact. only now in retrospect does it appear material because you lost a lot of money. the problem for goldman is that most materiality decisions are made after the fact. when somebody who lost money claims that something wasn't disclosed to them, in this case, the fact that john paulson made these decisions. john paulson, as you already said, he's somebody who bet against the sub prime parkt in a big wa...
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