good shepherds. this is anything but being a good shepherd when you abuse children and you violate their innocence and their persons. brown: fred de sam lazaro tells the story of vietnamese- american entrepreneurs, returning to their homeland to do business. 35 years after the south fell and became part of the socialist republic of vietnam, the capitalists are back. ifill: and we close with an update on the financial crisis roiling another continent, europe, where markets plunged after greece saw its debt downgraded today to junk status. that s all ahead on tonight s newshour. major funding for the pbs newshour has been provided by: and with the ongoing support of these institutions and foundations. and. this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. brown: leaders of goldman sachs were called to account by irate senators today, but the executives defended their con
priests are ordained to be good shepherds. this is anything but being a good shepherd when you abuse children and you violate their innocence and their persons. brown: fred de sam lazaro tells the story of vietnamese- american entrepreneurs, returning to their homeland to do business. 35 years after the south fell and became part of the socialist republic of vietnam, the capitalists are back. ifill: and we close with an update on the financial crisis roiling another continent, europe, where markets plunged after greece saw its debt downgraded today to junk status. that s all ahead on tonight s newshour. major funding for the pbs newshour has been provided by: and with the ongoing support of these institutions and foundations. and. this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. brown: leaders of goldman sachs were called to account by irate senators today, but t
when markets go up and down, and we as taxpayers have had to bail out bank after bank, so they in some ways are a scapegoat. resentment is key to this whole thing. greg, great to talk to you. thank you for being with me. greg zuckerman is a senior write at the wall street journal, and has written a book, literally on this greatest trade ever. oil mines, leaking volcanos in iceland. what these things have to do with a very possible clean energy alternative. [ male announcer ] if you ve had a heart attack caused by a completely blocked artery, another heart attack could be lurking, waiting to strike. a heart attack caused by a clot, one that could be fatal. but plavix helps save lives. plavix, taken with other heart medicines, goes beyond what other heart medicines do alone, to provide greater protection against heart attack or stroke and even death by helping to keep blood platelets
let s just go ahead with this. bottom line is, goldman bet against the mortgage market and bet in favor of the mortgage market. and we have to decide whether or not we like that, whether it was legal, immoral, whatever it was. it remains to be seen. here s what goldman says. the senate subcommittee, quote, has cherry picked four e-mails from 20 million pages of documents and e-mails provided by goldman sachs. it is concerning that the subcommittee seems to have reached its conclusion, even before holding a hearing. i could go on and on, but i want to bring in the guy who wrote the book on the deals on the guys who brought unwanted attention. the author of the greatest trade ever joins me from new york. greg, what you have written a book about is exactly what the s.e.c. has charged goldman about. a lot of confusion out there amongst my audience. what is goldman allegedly what have they allegedly done wrong? sure. taking a step back here.
greg zuckerman senior writer at the wall street journal talks about john paulson, whose hedge fund a $20 billion by betting against the housing market in 2007 and 2008. mit s sloan school of sloan school of management and cambridge, massachusetts, hosts the 50 minute event. thanks are much. i appreciate the opportunity to come speak about my book, a passion of mine, my baby. and i love discussing it. i still find it interesting so i hope you guys do, too. so i will talk a bit about the lessons from the research behind my book, and i will also talk a little bit about what s going on in wall street with some of the big traders that i cover day today, what they re betting on and betting against. i will leave some time for q&a. out and find in these kind of settings people have an interest in discussing journalism, financial journalism, or have say. perhaps wall street journal, and what we are focused on, those kinds of things. so feel free to ask about the book or any