street into a casino. i mean, remember, wall street is supposed to be a place to mobilize capital for productive returns. instead it has been turned into a gambling den and there has not been enough reform to deal with that problem still. you think reform could do it but we have to bail you want to bail these gamblers out. gambling you let people lose. we had no choice but to bail them out. we could have said no. and we could be in a great depression? you you know, let s talk talk about this idea of the casino. if you have gamblers and you are telling them gamble all the money away and we will save you and bail you out each time they are not going to be recognizing the risk. they are going to be taking more risks and this is part of the way that government intervention, government policies made things worse. gave us partially gave us this financial crisis. so as far as the ideas that, you you know, that we prevented a great devotion,
street? well, my fox business colleague charles payne says he knows and he says wall street is great. so what would you have said to the protesters? i spoke to the protesters. it is amazing to me how how many of their parents probably go to work? a factory that was built on money raised and wall street. how many of their grand parents are alive right now because they got a medical device that was created after the company went to wall street and raised money. they don t connect the dots. people don t get that all this money shuffling which is really mostly gambling ends up in money being directed to with luck its best use and the most successful people get rich because those companies grow and those are the successful medical devices? it could be a medical device. ipad, thee the eye pad, the iphone. the fact of the matter is apple is sitting on $80 billion and created 00,000 jobs last year in china. if you were to chance pick
apple away and say describe the company and say it was bank of america it would be evil. but because they create iphones it is a great company. push you with the criticism. iphones we all love but a lot of the money is going to yachts and big cars, cigarettes, booze, destructive stuff. i don t think wealth hp wealth is destructive. i don t think any of that stuff is destructive. interesting you talk about things like yachts and booze. my theory is there is no such thing as trickle down. it s trickle out. check out the day after thanksgiving everyone has their dinner and all of these people thousands bum rush the nearest wal-mart and knock over the security guard to give their money away. is trickle up economics. that is how some people get rich and some people don t. what about the wealth disparity, doesn t that bother you? it inspires me. i love to see people get rich. in this country, 80% of the millionaires are self-made.
waiting for us because there are a lot of banks beneath those that did it right. why shouldn t they be rewarded for doing it right and move up the ranks. do you know at one point a and p supermarkets they were going to break it up because they controlled 70% of the food. now, there is a handful of them and they are in bankruptcy. eastman kodak at one point was $100 a share and it is 78 cents a share. let them fail. not just the protesters. the hedge fund genius retired is upset that nobody is in jail. none of these bankers, somebody ought to be in jail. there probably is a lot of accountability. there was a long-time of fraud from the homeowners who lied about their income from people who probably did things wrong but we know for one thing they spent a whole lot of money on this trying to find people. recently president obama said that it was all legal and that is why nobody is in jail. jail. nd i agree. i think most was just people
created 00,000 jobs last year in china. if you were to chance pick apple away and say describe the company and say it was bank of america it would be evil. but because they create iphones it is a great company. push you with the criticism. iphones we all love but a lot of the money is going to yachts and big cars, cigarettes, booze, destructive stuff. i don t think wealth hp wealth is destructive. i don t think any of that stuff is destructive. interesting you talk about things like yachts and booze. my theory is there is no such thing as trickle down. it s trickle out. check out the day after thanksgiving everyone has their dinner and all of these people thousands bum rush the nearest wal-mart and knock over the security guard to give their money away. is trickle up economics. that is how some people get rich and some people don t. what about the wealth disparity, doesn t that bother you? it inspires me. i love to see people get rich.