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Tear. we still are. it's been a bull run, super charged by tax cuts, by deregulation. in large part, the markets have ignored a lot of president trump's rhetoric which often gets talk back. they have ignored chaos in the white house. in the last couple of days, i'm reading a lot of wall street commentary, saying maybe the noise out of the white house, the revolving door, is simply getting too loud. and maybe the president is looking to change some position, in that white house because he wants trump loyalists there. why would he want trump loyalists there? because of robert mueller investigati...

Irreverent kind of wall street firm not in the club, not in the super club of, say, goldman sachs, jpmorgan. always sort of fighting to get in. >> but because these were fast and loose -- >> absolutely. >> they went down. >> they made a lot of money. they had a huge fixed income business. they were one of the leading underwriters of mortgage-backed securities. many of which we've come to learn were not quite what they were cracked up to be, what the rating agency said they were. they were filled with mortgages that probably should never have been written in the first place. they were using tho...

Quite scary. >> would you agree? >> i would, except you can't lower interest rates much more, number one. sort of at the limit fiscally because we've just created this $1.5 trillion tax law. and, you know, there's -- the treasury and the fed will claim they have wine down authority. i assure you that there's no way this government, any government, any u.s. government, is going to let any of our national champion banks fail, regardless of what kind of trouble they get in. the fed was designed in 1913 to bail out wall street. to be the lender of last resort. to bail out banks. that's exactly wha...