and kenneth and i presented a short-term paper at the american economic association in january of 2008. and what that paper did -- it is a chapter in the book that talks about the antecedents of financial crisis and with the paper did it was a short paper. american economic association is the largest meeting of economists so you see a lot of people that look terribly boring congregating together and early january of each year, and with the paper did was took the worst financial crisis of the post world war ii period so we were not even going into let's gloom and doom depression, great depression 1930's lost decades, we focused on the worst financial crises of the post world war ii period and let's not make it too dramatic and naughty include the emerging markets. let's just focus on the crisis in the wealthy economies. so we focus on what we later call and you will see in the book the big five. the big five were the crises, sweden, norway, finland spain in 1977 and the biggest of all in the world's second-largest economy, japan which began in 1992. and the date basic -- this is not sin

but in a speech before the american economic association's annual meeting, bernanke defended the fed's actions, calling the links between low interest rates and rising home prices, quote, weak. ♪ ♪ i don't need dime to be on to you ♪ . >> imagine losing your job just a week before christmas. well, it happened to this woman, and now she is singing about it, and why her song is so catchy.  >>> a u.s. embassy shuts its doors over concerns about terrorist threats. where it's happening, and why the u.s. is focusing more attention on that particular country these days. >>> she has been missing for weeks. now friends and family of a missing mom are turning to the internet to help find the woman they love. >>> plus, a shocking new report. one in 50 americans lives in a household that survives on nothing but food stamps. and the number of people stuck in the situation is on the rise. hln news and views. hello, i'm holly firfer. the u.s. embassy in yemen is closed today bse now the embassy is not saying if there is any specific threat, and it's unclear when it might reopen. the british embassy

american economic association is the largest meeting of the economist, so you see a lot of people that look terribly boring congregating together in early january of each year. and, what that paper did was it took the worst financial crisis or the post world war ii period, so we were not even going into gloom and doom the depression, the great depression, 1930's, lost decades. we just said okay, let's focus on the worst financial crises of the post world war ii period and let's not make it to dramatic so let's not even include the emerging markets. let's just focus on the crises in the wealthy economies. and so, we focused on what we later khaldun you will see it in the book, the big fight. the big five for the famous nordic crises, sweden, norway, finland in 1991, spain in 1977 and the biggest of all, in the world's second-largest economy, japan which began in 1992. and, the basic-- and this is not saying it with hindsight. at the time we said we really are following the script here. these crises were preceded by a big asset price balloons, the equity markets and the real estate marke

. >> it's just that the american economic association convention in atlanta you had a lot ofç peopleng the unemployment rate down? i seeç a story in which we will probably see growth very, very weak growth and we're likely to see the unemployment rate hoveringç around 10%. >> woodruff: you're focusing on unemployment whereasç mr. barbera was focusing on the banks. >> i mean my concern is jobs. for most people thatç is the economy. they're happy to know that the financial system is relatively sound so we aren't going to beç reading about a big bank going bust tomorrow. that's of course good news. what really matters to most people is are they secure in their job? d that's not a good story for most people. >> what about that, mr. barbera? >> iç agree with dean very much in the sense that jobs are key. the take i have which is not the conventional wisdom right enveloped the economy late last year or early lastç year and throughout much of year was a panic about cash. you thought your banks might go bankrupt. you thoughtok they might pull your wires and so you slashed inventories

for which reason seems to be no match >> brown: ase said, paul shot that story at the american economic association annual meeting st january. the group will gather agaithis weekend in aanta and paul will be there. >> suarez: now, a yearnd discussion on litics. gwen ifi recorded this yesterday. after ten years of -wars a tas and economic booms and busts, we ta a look back tonight the decade in politics and governce, througthe eyes of three newshour regulars who ve helped ucover it all. amy walt, editor in chief ofhe hotline national journalsolitical daily, andrew kohut for the peoe and the press d presidential historian michael burbve. arting with you, michael. whatould you say is the signal event of this decad >> it would ve to be the attack oseptember 11th -- 001 because not only h thataused all sorts of obvious changes inmerican society but look at ththe kind of even that led to. george w. bush declared a war on terrism, lead us to a war in afghanistan, aq, used very harsh measures against rrorism. in 2004 i ink andy would agree with thi george bush s re-elected largely by ople who may have been

he spoke at atlanta in the meeting of american economic association. this is just under an hour. >> welcome to this event. it's an honor and pleasure to introduce this morning's speaker, ben bernanke. he will speak for about 40 minutes and take four or five questions and then try catch his plane. ben and i have similar academic pedigrees, we both have the same undergraduate thesis advisor, dale mortingson, and our thesis on the same subject. we both learned academes at m.i.t., and then ben became one of the most powerful people in the world and my only claim to fame is having been briefly ben's landlord. a decade ago ben and martin published a definitive paper claiming how decreasing values affect the society. and that claim is an outpouring to events, and take a look at that paper when someone tells you that macroeconomics were result of the problem of 2008. ben, thank you for joining us today. [applause] >> thank you, bob, and dale for coming as well. the financial crisis that began in august, 2007 has been the most severe of the post-world war ii er

policies of the first year of the obama administration are discussed by a panel at the american economic association donald kohn assistant treasury secretary alan krueger and economist martin feldstein are among those talking about the economy. >> this is the andrew brimmer economic policy forum. we are described in the handbook on page 81. this for elma was organized in the spring of 2008. the forum itself a start in boston in the year 2000 and since that time the association has been good enough to sponsor this four of every year since so this is the 11th occasion. excuse me is there a light of here? why can't see. [laughter] this year's for rahm was titled the national economic policies of president barack obama evaluation after one year on the trail. the speakers in the book will appear as the order in which they are listed in the book except a few days ago christine a romer sent me an e-mail saying because the work of the council of economic advisers and the president's state of the union message economic reports and so on she couldn't possibly come today. so, she instead asked the program, ass

this event was held in atlanta at the annual meeting of vanderbilt university's a american economic planning association. it is about an hour. >> welcome to this important event. is an honor and a pleasure to introduce this morning speaker, ben bernanke. he will speak for about 40 minutes and then take maybe four or five questions and then try to catch his plane. academic pedigrees, we both have the same undergraduate thesis advisor, dale mortingson, and our thesis on the same subject. we both learned academes at m.i.t., and then ben became one of the most powerful people in the world and my only claim to fame is having been briefly ben's landlord. a decade ago ben and martin published a definitive paper claiming how decreasing values affect the society. and that claim is an outpouring to events, and take a look at that paper when someone tells you that macroeconomics were result of the problem of 2008. ben, thank you for joining us today. [applause] >> thank you, bob, and dale for coming as well. coming as well. the financial crisis that began in august, 2007 has been the most severe of the post-world

economic enterprise overwhelmingly do so in the corporate form and with increasing frequency in corporation is chosen by those to associate to defend and promote particular ideas, such as the american civil liberties union, the national rifle association, parties to this case" -- in other words, these are entities that file briefs in the case before the supreme court at that time. and so, again, what we have the spectacle of in essence was an attempt to promote a film, a so-called documentary -- i don't know how wonderful it was or how bad it was -- and they said it couldn't be shown because it was near an election time and corporations had given some money to putting it on. and i think that's not healthy. in fact, the whole approach to constricting and limiting people in pooling their money and running ads is, i think, pretty clearly in contact -- in conflict with the first amendment. i would just say this: the supreme court ma made clear that all of the limits on corporations about giving to political campaigns, those were not instruct down. and didn't apparently deal with any of the individual rights. but we've had a number -- we've had a debate over this for a long time. it's r