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Handled well? what was wrong with it? well, i think in 2008 we were dealing with a situation potentially spinning out of control and so we threw a lot of money at it. we were flying blind. we didn t have a playbook. i didn t really like what we did then but i at least understood it better. in 2008 we did have a stable financial system. i am a rip the band aid off kind of person. i think that s when we should have started imposing some discipline at least for sick institutions, making them sell their toxic assets that would have given them a realistic mark. that continues to be a problem with the bank balance sheets. a lot of the assets are created at an inflated value. if you prop the bank up and leave all the bad assets there, what do they do? they nurse their balance sheets. when you get into a business cycle you want a healthy institution willing to go in there and take some risks and to lend. sick banks with a lot of bad assets just don t do that. there was the moral hazard ....
summer. it s hard to look like right at you baby but hear s my number. wow. well there s a surprising fact about the artist. out front next. the ceo gave us all quite a mental image today when he testified in front of the senate banking committee in washington about one of the largest bank in the united states has been open about hits multibillion trade losses. we generally are open kimono with the regulators and tell them what they want to know. open kimono, sure. but maybe he was open kimono about the things he knew about. but not about things he didn t. like how the trade in question had morphed out of control. so, this transaction that you said morphed, what did it morph into, russian roulette? it morphed into something i can t justify. it was too risky for our company. it s almost like he s talking about a physical object. but this was a tried, a tried gone terribly bad. he said he didn t know how bad the trades were until late april. you know wha ....
wow. well, there s a surprising fact about the artist, carly ray jepson. outfront, next. i m erin burnett. welcome to outfront. outfront tonight, jamie dime on opens his kimono. the ceo of jpmorgan chase gave us all quite a mental image when he testified in front of the senate banking committee in washington about whether the largest bank in the united states has been open about its multi billion dollar trade losses. we generally are open kimono with the regulators and tell them what they want to know. open kimono. sure, that sure sexes up that testimony in washington but maybe he was open kimono about the things he knew about but not about things he didn t, like how the trade in question had morphed out of control. so this transaction that you said morphed, what did it morph into, russian roulette? it morphed into something i can t justify, that was just too risky for our company. he couldn t justify it. it was too risky. it s almost like he s talking a ....
me maybe hey, i just met you wow. well, there s a surprising fact about the artist, carly ray jepson. outfront, next. i m erin burnett. welcome to outfront. outfront tonight, jamie dime on opens his kimono. the ceo of jpmorgan chase gave us all quite a mental image when he testified in front of the senate banking committee in washington about whether the largest bank in the united states has been open about its multi billion dollar trade losses. we generally are open kimono with the regulators and tell them what they want to know. open kimono. sure, that sure sexes up that testimony in washington but maybe he was open kimono about the things he knew about but not about things he didn t, like how the trade in question had morphed out of control. so this transaction that you said morphed, what did it morph into, russian roulette? it morphed into something i can t justify, that was just too risky for our company. he couldn t justify it. it was too risky ....
Washington and from taxes and that is unhealthy. if bailouts were so unpopular, why do they come back and buy g.m. cars and buying chrysler cars? it seemed like the american people are starting to by into the new car companies. guest: look, some of the cars gm and chrysler are making are good cars, no question. the company that is doing best of the big let is ford and to in the forget ford did not make a single penny of taxpayer pun is i say the patriotic thing to do is buy a ford car if you buy american. i worry about the moral hazard problem, we created a situation where every big company and bank feels like they have this we system from washington. republicans should respond by saying, the democrats have become the party of corporate ....