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Will be a little bit of a lift. so democrats decided to do a procedure vote strategy, cloture vote strategy they hope to repeat the money and raise money on the democratic national committee website and make good commercials be they hope some republican will drop off and join them and they will proceed to the vote. that leads to a partisan bill. i don t think they want a partisan bill. if the economy goes off the cliff again they will be the ones holding the bag. i think the problems is the moderates they hope to pick off are now getting really furious about the politics they see in the process. the strategy looked good 48 hours ago but doesn t look so good anymore. bret: senator reid, tucker, said he is upset it s not transparent that the negotiation is happening behind closed doors. of course, after the healthcare back and forth people raised their eyebrows. the democrats think this is good for them and they can put the republicans in a position to defend the big, bad bankers. a. ....
Take a listen. 2-22 is the date of this e-mail. boy that timberwolf was one [bleep] deal. how much of that [bleep] deal did you sell to your clients after june 22, 2007? mr. chairman, i don t know the answer to that, but the price would have reflected levels they wanted to invest. they don t know you didn t tell you thought it was a [bleep] deal? i didn t say that. no. who did? your people. internally. you knew it was a [bleep] deal and that s what your e-mail showed. you re trying to sell a [bleep] deal and it s your top priority. c mon, mr. sparks. bret: well, it was one exchange. charles? when the incas had a crop failure they would take someone up on the hill and execute them. this process is the same expect it has a little less dignity. i m sure the language was ....
There are a lot of democrats. in fact, who are squirrely about this. who aren t excited to vote for something along party lines for legislation that no one understands. how many people do you know what is in the legislation and understand it? bret: again, we re over 1,500 pages again. the bill is more complex than the healthcare bill. if you want evidence this is a political process, check the tivo for the hearings today where the goldman execs were grilled. watch senator kauffman get up there and say things like it was obvious that the sub prime mortgage thing wasn t going to work out. really? it wasn t obvious to anyone else. kauffman owns moody s stock which raided the abacus deal and he owned the stock. long on moody s. it s insane. nothing with reality. pure politics. bret: great transition. exec from goldman sachs. ....
Chairman carl levin issued a sweeping indictment of goldman accusing them of pushing the economy in crisis. the misuse of the complex financial structures help spread toxic mortgages throughout the system. when the system finally collapsed under the weight of those toxic mortgages, goldman profited from the collapse. reporter: senator called it gambling, pure and simple. you are the bookie, you are the house. you have less oversight and less regulation as you began the wild, wild west. the reality for millions of americans is lost homes and disappearing jobs. reporter: the chief complaint was goldman sold investments in package or derivatives of mortgage loans, even though it sometimes bet the same investments would lose value. a process called shorting. senator levin quoted e-mail with an offering with a common expletive starting ....
Cleaner in the inca process. and the idea that the goldman sachs deal, what you had in the goldman deal was sharks trying to outsmart other sharks. these were not securities sold on the street to individuals you and me. it was one institution holding a security that it thought was not good. therefore it sold it. when you sell a house or a car, you have your reasons. you may have moral obligation, but nobody expects you always to disclose every single reason why it s being sold. apparently if goldman didn t, it s a crime of some sort. this is absurd. congress is as culpable as wall street and the whole exercise is a way to imply it s all big bad bankers in wall street and not congress. which is hugely responsible for the entire collapse. bret: a.b.? in the end, unfortunately perception is reality and no one is going to read the bill. the mail i get says republicans and democrats need to come together and beat up the big banks. what people will watch tonight is watch the goldman ....