the collapse of lehman brothers triggered. the 2008 financial crisis displayed what the world now identifies as financial contagion. there was a worldwide recession you know the value of real estate plummeted people lost their homes you could go through. southwest side of chicago to see foreclosure foreclosure foreclosure home after home after home they were going belly up as a result of that. numerous businesses went out of business. this is a fraud but if this is not random it's not hoops. everybody got hurt i mean the impact across the world was measured in the trillions of dollars the value of. what was was turning up here in time is almost incalculable we've never seen anything like that since 1920 and. this crisis has changed the whole world to many long last a while. without the crisis would not have happened and donald trump would not be president of the united states this is a major turning point you never know what it will be but the thirty's transformed the world. because of course it brought us the 2nd world war it

myself some of whom died before the book was finished and in the world these presence by ntl lehman brothers only sister my uncle joe january of this year and the swiftest below my oldest brother who died the day after this book appeared in the

calling other banks and various back back of the curtain political decisions that were made over lehman brothers and bear stearns specifically and you're about to have a reprise of it because there's so much leverage in the system collaterals not being trusted in between banks and counterparty insurance firms and yet the fad and very counter democratic and counter a capitalistic practices is keeping its mouth sealed over who's in trouble how they're in trouble why they're in trouble how many further tens of billions of dollars per night is being put into the overnight lending a repub market in order to bail out already bankrupted firms because they know better nobody else in the in the in the that's all it is is that evil of understanding their lucid ation that's what they said in prior to the 2008 crisis here alexandria hi kind of got ahead of me here and what i wanted to ask is that there is a common criticism and i think it's an interesting characterization is that there is socialism in america and it's for the rich and it's the it's the really everybody else has to go through the rigors of c

as an aside, i struggle with american express, having worked at lehman brothers.ry. barry: i could tell along one. alix: thanks so much to betsy gray sick. barry knapp, thank you as well. viviana hurtado is here with first word news. viviana: we begin in iran where protesters over the shot down jet have turned violent. protesters say they fought with police. teargas was fired at crowds. reversingeekend iran themselves, admitting the country's military mistakenly shot down ukrainian check. donald trump warning the ukrainian government not to kill the protesters. in the philippines, and erupting volcano forcing thousands of people to flee their homes. authorities morning it could get worse. there have been scores of earthquakes. that could signal another corruption is imminent. has beena airport suspended. the british economy unexpectedly shrinking, in november gdp falling .3%. that is casting doubt if the fourth quarter had any growth. also adding to concerns in the bank of england. officials debating if an interest rate cut is needed. global news 24 hours a day, o

myself some of whom died before the book was finished and in the world these presence by ntl lehman brothers only sister my uncle joe january of this year and the swiftest below my oldest brother who died the day after this book appeared in the world good afternoon. thank you for coming to our last 4:00 o'clock panel world war ii this will last about 45 minutes then we will have 15 minutes for q&a and responses for the panel first commercial bank representatives to we have any in the room? let's thank them. [applause] now i have the pleasure of introducing our moderator not only an attorney with the jackson law firm but recently retired as brigadier general with the mississippi air national guard. thank you for your service. [applause] >> welcome everyone to the final panel of the afternoon we hope to extend a special welcome to those watching us on c-span. i'm not sure how i ended up being the moderator in the area bookstore i have purchased many books of world war ii suggested i might be an appropriate moderator. so i think john for that. born april 24, 1944 during world war ii and six wee

>> it is a development, but black swan is lehman brothers, so i do not think that it is in the same vicinityrd, after we get through all of this and hopefully sooner rather than later, earnings and interest rates, my friend. interest rates are low, easy money throughout the globe, and i expect earnings are accelerating and so is the economy, not only here, but i'm seeing a little bit around the globe. if that continues, we will be in good standing. the only thing bad about the market is we were up three years returns in one year in 2019, not so sure you can continue that type of move. >> neil: pull flynn for oil, are you confident enough that we don't go crazy? >> i am confident that we won't go crazy. i might go a little bit crazy. but i think the markets are fine. let's face it right now, it depends on what iran does next. we know that they like to attack oil facilities, we could see another spike, but the u.s. producer will save the day. >> neil: every time we have had a drop off, people left been upset they did not take advantage. he appreciated, gentlemen. a lot of people are looking at

after leaving congress in 2000, k sick worked at lehman brothers where he helped company secure their resources they needed to succeed and create jobs. and the author of four new york times bestsellers. and his last that reflects on his run for the primary presidential run in his hopes for future. his latest book entitled it's up to us. was just released. ladies and gentlemen please join me to welcome john k sick. >> thank you. thank you is it possible for anyone to turn these lights on a little bit because everybody is so attractive. that is the queue. turn it on just a little bit. thank you. i am so excited to be in ohio. i live in ohio i used to be governor of ohio did you know g that? that was a wonderful experience and i had a great time. the let me just tell you a couple things to give you a better sense of who i am. after eight years that you would really know me but i don't know if you know what makes me tick or how i got to where i am. i was raised in pittsburgh just ah, little town outside pittsburgh and my father carried for 28 years. and my mother was in and out of the wor

>> 16, 17 cold calling with lehman brothers.traded with wells fargo. >> wells fargo. charles: along the line, this always gnawed at you? you looked around the room. >> i had this idea, 16, 1years, always strange to me, knowing family members, friends, hunger, talent intelligence, raw i.q. but in the front offices of wall street it wasn't represented. i always thought friends of mine, get them in front of monopoly would kill everyone in sight, but there was a disconnect. charles: for me, i started at e.f. hutton in '85. i saw a clique. the germans, the jews, the english. it was interesting. everyone had one thing in common they knew to get in the door. >> social capital. charles: social capital. the people also have to want to get in the door. >> that's right. charles: you have the dual process having to convince people, hey these folks can be great traders. but these folks can be be a trader. is that a dual. >> that is fair statement. a lot of young people i work with, meeting in the college system, for a lot of them wall street

it was the collapse of lehman brothers many say precipitated financial meltdown and everything else. is this potentially that? >> no. this is not potentially that at all. i mean, if maybe we're world war or something like that, would be potentially that, but this is not of that level of magnitude. when you consider the size of the u.s. economy, the prosperity of this happening, total employment, all of that, the markets reflect the future of the economy, not the past, they reflect economics, not military action. this is not enough to destablize the u.s. what is enough, neil, in november, the election could be enough to destablize the economy dramatically. much of the same way as it did in november of 2016. when, excuse me, november of 2018, when the election swung to obama. that was a huge destabilization, brought about by a change in the election prospects and economics. i don't see that happening now at all, until we get close to the election. if elizabeth warren will be the nominee, if she is going going to win i think that will affect the markets dramatically. neil: you talking a