And that's the thing--the con is all about spinning the tale. The way he just dribbs and drabbs the new information into the story, taking advantage of the incongruity of it all and the belief cops have that the world is pretty much fucked anyway is masterful. He sells them a story they can almost believe while making it super clear the cops had no more access to the guy who could become his client in a heartbeat--best to leave it be. That's a beautiful blowoff.
Actually
making the video, though, was pure hubris and overstepping the ethical line like it was a giant "don't flip the switch" sign. Note when he was telling Kim all about it, that was where he lost her--he sold the cops completely but lost his girlfriend's faith when he could have stopped short and in all probability kept both. That's Jimmy's overwhelming flaw, the tragic trait that turns him into Saul and ends him up as Cinnabon Gene, afraid to open an alarm door. All it took to make him jump into this situation was an open ended request from Mike--that Jimmy just can't pass up, it's too much fun and he's a sucker for the con.
And Mike's tragic flaw is his hubris over his own abilities and a soft spot for a dumb sucker. He underestimated Walter and it bit him in the ass--this is how he got to that river bank.
I'm sure hoping that the reason Kim is not in the picture when BB comes along isn't because she died tragically--I really love her character.
