blankfein c.e.o. of goldman sachs of course is being accused by carl levin a lying before congress and lying to its clients your thoughts on carl levin's accusation the lloyd blankfein was lying to his clients was he lying to congress both respect to his clients and those are some points that were brought up by levin and also in in math article there was an issue around certain deals for example with hudson where goldman in order to get clients to buy those deals indicated that it would be taking a position on the side of those same clients within those same deals so hudson deal for example was a one point two billion dollar deal goldman was going to take a sliver of a six million dollars position in that deal and because of that that was one of the sort of carrots the bait to bring clients into the deal and as the documents show and as the order cool mentions it turned out that goldman had a two billion dollars short position against the deal so it's sort of like there was this little teeny carrot an

blankfein c.e.o. of goldman sachs of course is being accused by carl levin of lying before congress and lying to its clients your thoughts on the carl levin's accusation the lloyd blankfein was lying to his clients and was he lying to congress with respect to his clients and those are some points that were brought up by levin and also in in math article there was an issue around certain deals one for example with hudson where goldman in order to get clients to buy those deals indicated that it would be taking a position on the side of those same clients within those same deals so the hudson deal for example was a one point two billion dollar deal goldman was going to take a sliver of a six million dollars position in that deal and because of that that was one of the sort of carrots the bait to bring clients into the deal and as the documents show and as the order mentions it turned out that goldman had a two billion dollars short position against the deal so it's sort of like there was this little tee

blankfein c.e.o. of goldman sachs of course is being accused by carl levin a lying before congress and lying to its clients your thoughts on carl levin's accusation the lloyd blankfein was lying to his clients and was he lying to congress with respect to his clients and those are some points that were brought up by levin and also in in math article there was an issue around certain deals one for example was hudson where goldman in order to get clients to buy those deals indicated that it would be taking a position on the side of those same clients within those same deals so the hudson deal for example was a one point two billion dollar deal goldman was going to take a sliver of a six million dollars position in that deal and because of that that was one of the sort of carrots the bait to bring clients into the deal and as the documents show and as the order mentions it turned out that goldman had a two billion dollars short position against the deal so it's sort of like there was this little teeny car

blankfein c.e.o. of goldman sachs of course is being accused by carl levin of lying before congress and lying to its clients your thoughts on carl levin's accusation the lloyd blankfein was lying to his clients and was he lying to congress with respect to his clients and those are some points that were brought up by levin and also in in math article there was an issue around certain deals one for example was hudson where goldman in order to get clients to buy those deals indicated that it would be taking a position on the side of those same clients within those same deals so the hudson deal for example was a one point two billion dollar deal goldman was going to take a sliver of a six million dollars position in that deal and because of that that was one of the sort of carrots the bait to bring clients into the deal and as the documents show and as the article mentions it turned out that woman had a two billion dollars short position against the deal so it's sort of like there was this little teeny ca

blankfein c.e.o. of goldman sachs of course is being accused by carl levin of lying before congress and lying to its clients your thoughts on the carl levin's accusation the lloyd blankfein was lying to his clients and was he lying to congress with respect to his clients and those are some points that were brought up by levin and also in in matts article there was an issue around certain deals one for example with hudson where goldman in order to get clients to buy those deals indicated that it would be taking a position on the side of those same clients within those same deals so hudson deal for example was a one point two billion dollar deal goldman was going to take a sliver of a six million dollars position in that deal and because of that that was one of the sort of carrots the bait to bring clients into the deal and as the documents show and as the article mentions it turned out that woman had a two billion dollars short position against the deal so it's sort of like there was this little teeny

blankfein c.e.o. of goldman sachs of course is being accused by carl levin a lying before congress and lying to its clients your thoughts on carl levin's accusation to lloyd blankfein was lying to his clients and was he lying to congress with respect to his clients and those are some points that were brought up by levin and also in in math article there was an issue around certain deals for example with hudson where goldman in order to get clients to buy those deals indicated that it would be taking a position on the side of those same clients within those same deals so hudson deal for example was a one point two billion dollar deal goldman was going to take a sliver of a six million dollars position in that deal and because of that that was one of the sort of carrots the bait to bring clients into the deal and as the documents show and as the article mentions it turned out that goldman had a two billion dollars short position against the deal so it's sort of like there was this little teeny carrot an

he saw lloyd blankfein who did. he plucked him up out of the masses and made him the next leader of the firm. when he went to washington, it was obvious that he was going to get the job. again, it looks very ruthless. he would say i did what was in the best interest of goldman sachs. if lloyd blankfein wasn't the ceo, they have gone down the tube. instead, they put on the big short and did things to save themselves. at least now they can make a credible argument that they, you know, didn't need the bailout. which is something they have done. i think they would have gone down the tubes in the tsunami like everybody else. clearly goldman was the only one to see it and doing something about it. we now know they did other things, which was continue to sell mortgage-backed security at the same time they made the bet. basically, their clients suffered, i think, financially as a result of goldman's decisions. >> host: well, this is an issue that you bring to the forefront and explain very well in the book how wall street c

look at lloyd blankfein. you know, he grew up in the south bronx, he move today the east new york part of brooklyn which is not the greatest part of town, you know, for a better life. his father was a postman. lloyd told me -- i thought this was fascinating -- that his father was then, you know, after he retired was replaced by a machine. so, you know, the job that his father was doing was outmoded, and a machine could do it better. and his mother worked in an alarm security company which he described to me as a growth industry in that part of brooklyn. and he went to public high school and, you know, where harvard happened to recruit, found him. he was clearly one of the smartest kids in the class and gave him a full scholarship to go to harvard where he found himself surrounded by, like, prep school students. he didn't feel like he fit in, but he eventually did well at harvard, went to harvard law school. and as he said, i went from being an underprivileged child to a child of privilege because he had acces

i mean, lloyd blankfein's, the ceo's sons both work at goldman. lloyd had to pull himself up by his boot straps, but not his kids. there are plenty of people there who have privileged backgrounds. but even the people who make it to the top, look at lloyd blankfein. you know, he grew up in the south bronx, he moved to the east part of brooklyn for a better life, his father was a postman. lloyd told me, i thought this was fascinating, that his father was then, you know, after he retired was replaced by a machine. so, you know, the job that his father was doing was outmoded, and a machine could do it better, and his mother worked at an alarm security company which he described to me as a growth industry in that part of brooklyn. and he went to public high school where, you know, harvard happened to recruit. found him, he was clearly one of the smartest kids in the class, and gave him a full scholarship to go to harvard where he didn't feel like he fit in. but he eventually did well at harvard, then went to harvard law school and, as he said, e went f

blankfein in fact could you call lloyd blankfein as a witness as part of your case it sounds like he's an expert witness and fraudulent double dealing and maybe he make an excellent witness but it was exactly the same good bad game that did play in the in the usa some years ago very getting the same gate and same game here you know now they were nor i would do the same get me in the united states soon a two thousand and eight and now they're doing exactly the same here so. if they will be called here in greece but not only hear me about that my doctors were goldman sachs or other investment banks you were on this game and this is a decision of the procedure goes more power to susan i think they would go in the parable ligaments. colicchio at least stool to some simple questions anytime you're talking about these european monarchs of course germany's name comes up because there is a main focus point on all the bond dealings in europe and of course in germany the biggest bank is deutsche bank so. is that. possible that they also are complicit in the racketeering the financial terrorism t

blankfein in fact did you call lloyd blankfein as a witness as part of your case it sounds like he's an expert witness and fraudulent double dealing and maybe make an actual witness but it was exactly the same good god game that explaining to us some years ago they're repeating the same gate and they're saying game here you know now we have a federal law and you nor i will go to the same gate going to united states you know two thousand pay and now they're doing exactly the same here so. if they will be called here in greece but not only hume you got out them out of this or goldman sachs or other investment banks you form this game this is a decision of the procedures not part of the susan i think may. well the immense. look here or at least to some simple questions anytime you're talking about these european bond markets of course germany's name comes up because there are a main focus point on all the bond dealings in europe and of course in germany the biggest bank is deutsche bank so. is it. cost of all that they also are complicit in the racketeering the financial terrorism the f

blankfein the c.e.o. of goldman sachs they believe he committed perjury when he first appeared talking about the role of goldman sachs and selling securities the head of their customers and profiting from double dealing to their customers engaging in the kinds of fragile behavior that you're describing right here they want him to dig down a little deeper into his memory banks to see if he can dredge up some of that with some of the more the facts the case but good lloyd blankfein in fact could you call i blankfein as a witness as part of your case it sounds like he's an expert witness and fraudulent double dealing and maybe make an excellent witness but it was exactly the same the game that the cleaning do you say some years ago they're getting the same gate and same game here you know now they have the formula north. going to united states you know two thousand and eight and now they're doing exactly the same here so. if black fan will be called here in greece but not me but out that model just for goldm

blankfein the c.e.o. of goldman sachs they believe he committed perjury when he first appeared talking about the role of goldman sachs and selling securities ahead of their customers and profiting from double dealing to their customers engaging in the kinds of fragile behavior that you're describing right here they want him to dig down a little deeper into his memory banks to see if he can dredge up some of that some of the more the facts the case but could lloyd blankfein in fact could you call i blankfein as a witness as part of your case it sounds like he's an expert witness and fraudulent double dealing and maybe he may can actually win this. it was exactly the same in the double game that they play in the in the usa some years ago barry pitting the same gate and this same game here you know now because the formula you nor i would believe you do the same gave me in the united states you know it's a thousand pay and now they're doing exactly the same here so. if the team will be close here in greece bu

blankfein the c.e.o. of goldman sachs they believe he committed perjury when he first appeared talking about the role of goldman sachs and selling securities ahead of their customers and profiting from double dealing to their customers engaging in the kinds of fragile behavior that you're describing right here they want him to dig down a little deeper into his memory banks to see if he can dredge up some of that some of the more the facts of the case but could lloyd blankfein in fact could you call i'd like to learn as a witness as part of your case it sounds like he's an expert witness and fraudulent double dealing and maybe make an excellent witness but it was exactly the same good that the game that the plane in the usa some years ago very pitting the same gate same game here you know now we have a formula you nor i would do the same game going to united states you know it's one thousand paid and now they're doing exactly the same here so. if fain will be called here in greece but not only she moved ou

lloyd blankfein and its former executives you have it suggests they lied about cheating their clients out of millions of dollars so how are these banks toure's able to pull off the scheme meanwhile the koch brothers university funding programs are spreading right wingers using their own cash to change clothes staff and ideas over five. universities billionaire oligarchy succeeding reshaping our country's worldview and could there be a fifty first state i'll tell you why thousands of arizona liberals are pushing for a session from the radical republicans are on the north of the state. yesterday raj rajaratnam a billionaire hedge fund manager was convicted of fraud and insider trading he faced twenty years in prison the jury found him guilty of making more than sixty million dollars based on insider information one of the only cases in the last twenty years where a big time bank was facing the music for high crimes on wall street will rogers crime had little to do with the financial meltdown back in two thousand and eight and more to do with a culture of corruption that seems excess ste

lloyd blankfein and its former executives you have it suggests they lied about cheating their clients out of millions of dollars so how are these banks toure's able to pull off this scheme meanwhile the koch brothers university funding programs are spreading right wingers using their own cash to change both staff and ideas and over five. universities the billionaire oligarchy succeed in reshaping our country's worldview and could there be a fifty first state i'll tell you why thousands of arizona liberals are pushing for secession from the radical republicans well in the north after the strike. yesterday raj rajaratnam a billionaire hedge fund manager was convicted of fraud and insider trading he faced twenty years in prison the jury found him guilty of making more than sixty million dollars based on insider information one of the only cases in the last twenty years where a big time banks are facing the music for high crimes on wall street alone raj's crime had little to do with the financial melt. back in two thousand and eight and more to do with the culture of corruption it seems e

lloyd blankfein said we did not have a massive short bet and we did not bet against our clients but we know both of those things are true i think there's going to be a lot of pressure on the justice department to do something about it about some of these things. and at some point because they can't just let it completely go the same time when you yourself have written about how the justice department department is so reliant on the f.t.c. because the stuff is complicated there's difficult details here to sort of hard to dig through all the leaves on the fox do you really think that there's going to be some sort of action and prosecutions of the folks who are supposedly the backbone of our economy. well i'm not going to hold my breath obviously but i mean that's why we we focused on the line to congress aspect of the speech because. yes the whole question of lying to investors and what's legal and what's not legal and can you sell somebody something while betting against it at the same time what you have to disclose when you do that all that stuff is definitely complicated and prosecuto

get him to squeal and then work their way up to food chain toward the big copper to cop out like a lloyd blankfein or jamie diamond correct yes that protrudes tool keep their days as well nor beside organizational and it will be the justice of this crowd that but we are for them to let the filaments their love for the local for proof. of everything to proceed to make their names to stop calling people who'll coke and that for them it will be easy to fry a prior to the end or this disease to circle or for it's a vicious circle of kratos ok so you mentioned proof what form does the truth take ok the firm's over the proof very easy to understand for somebody who. cares if it pleased him and got a notice or whatever to mike it's unclear whether he's a criminal lawyer here in greece for example. when you turn in international markets. but i'm dealer of the government once where the greek state and the same time you cannot say oh c.d.s. against the government balance if you do run game you cannot do also the opposite so we say against the interest of your customers and. your country of greece.

blankfein tried to explain to senator levin that requires huge amounts of capital, the balance sheets, lots of leverage and lots of risk. now goldman thinks of itself as being the best manager of risk on wall street. these all the risk coming in the mortgage market and uniquely did something about it . everybody else didn't see the risk and let it take them down. goldman saw something about it comes all the risk and did something about it but at the same time it created a huge conflict for themselves. the other tenant of their philosophy is they believe they are great at managing conflicts whether it is with their clients or internally. we are in the business of managing conflict. lots of conflict in the business of managing them. well, i think that has gotten them into a lot of trouble and you can see as i write in the book during this crisis is, they were very smart about see in the trouble coming in the mortgage market and then making a big proprietary bet against the mortgage market. very smart move, and made them billions of dollars while the cost of the deals billions of dollars

. >> all of the casting, the guy that plays lloyd blankfein, i thought lloyd blankfein was playing lloyd blankfein. >> isn't that the guy from "sex in the city?" >> i appreciated it was not a partisan film. it didn't one side or the other except for greed is what got us there and lack of regulation. >> in addition to this film, you're back on stage playing franklin roosevelt. tell us how that is going. >> it's going well. we've done 50 cities, 100 performances in boca raton for a week in the first of june. >> i love that president. i think this country has not done him enough honor. >> you love a live audience, as well. >> oh, yeah. >> you had them with the mary tyler moore days. what sitcom do you like? >> no. >> do you watch television? >> no. >> you and betty white, all you do is read scripts. i just want to breathe your air for a while. >> alec baldwin is becoming the male betty white. >> and we both agree "up" is one of the greatest movies. how is our mary doing? she had surgery. >> i haven't found out. i was delighted to hear it was not major. >> we wish her all the best. >> that m