Host and guest don't always connect, but when they do it's a lot of fun. WFB:

"Well, you say it's been obvious for a long time, but if so, how come all these bankers bought these bonds, and how come they sold them to all these people? It obviously wasn't obvious to them, right?" JB: "One of the shocks everyone's been getting here is just how dumb bankers can be." WFB: "How about journalists?" JB: "Journalists can be very-- That we know. I think we've assumed that for some time." WFB: "But I mean, there wasn't a front-page story in any journal you or I write for, was there?, saying, a year ago, 'Don't buy New York municipal bonds, because they're bum.' " JB: "No." WFB: "Why not? What about our great sources of investigative journalism? Are we brighter than the bankers? As a matter of fact I am, but how about you?"