out of business in 2007. a lot of, i'm not saying . three years after the company went out of business? so, how do you define that? >>shepard: some of the big, big, big banks, bank of america just lost $8 billion in the first quarter. >>guest: that is the mortgage market. >>shepard: now they are about to be the second biggest bank in america right behind wells fargo. >>guest: in terms of mortgage market. they had countrywide and that was a problem for them and they have tried to write off that debt and now in the market, prices are going down yet again creating more problems. >> is there a lack of regulation or the banks ... how do you describe what is happening? >>guest: the reality is it is at a local level, courthouses across the country. so thinking there is a great magic cop who will come along and solve this problem ain't going to happen, it is judges in