Jason Johnson: How did the banks let this happen? So explain. He says there are ways in capital markets to take really extreme bets. And essentially what happens is, as the stock goes up and down, you're going to have to pay difference between these two people. This guy had taken one point six and spun it up to 36 billion, and beaon he went like 20 in it in a year. But then he ada levered that up again, and he had a hundred and 60 billion dollars of gross exposure.Johnson: What this is is a poorly regulated part of the market that has very little oversight.