complex financial instruments in this last generation of wall street has, in part, been to stay ahead of regulation to state ahead of even due diligence by people involved at the lower end of the food chain in finance is it >> yeah. it is starting to look, these complex things were supposed to diversify risk, has been glaringly obvious they increased the risk, they concentrated it, they created lots of promises that couldn't be honored in the clinch. so, yeah. it is kind of a running game we have. people talk about, well, we mustn't stopped financial innovation, and you say, well, name a financial innovation that has been beneficial and you are not allowed to use atms. usually that stops the conversation, because nobody can come up with a good idea in all of this vast proliferation of stuff. >> it has made a small number of people dramatically, dramatically wealthy in a short period of time. the wall street billionaires