We live in an era of fraud in America. Not just in banking, but in government, education,...

Mark Baum: We live in an era of fraud in America. Not just in banking, but in government, education, religion, food, even baseball... What bothers me isn't that fraud is not nice. Or that fraud is mean. For fifteen thousand years, fraud and short sighted thinking have never, ever worked. Not once. Eventually you get caught, things go south. When the hell did we forget all that? I thought we were better than this, I really did. [to his opponent, Bruce Miller] Mark Baum: And as fun as it is seeing pompous dumb Wall Streeters be wildly wrong, and you are *wrong*, sir. I just know that at the end of the day regular people are going to pay for all of this. Because they always, always do. That's my two cents. Thank you. Deutsche Auditorium Host: Does our bull have a response? Bruce Miller: Only that in the history of Wall Street, no investment bank has ever failed except when caught in criminal activities. So I stand by my Bear Stearns optimism. Banker in Deutsche Auditorium: Mr. Miller! Sorry. Quick question. From the time you guys started talking, Bear Stearns stock has fallen more than 38 percent. Would you buy more now? Bruce Miller: [unsure] Sure. Yeah. I'd buy more. Why not? Mark Baum: BOOM. [the whole room scramble for the aisles]