but he knew anything hank paulson wrote down, hank paulson would have to answer for. coming up next, words on why we may want to follow hank paulson's example. heroes charge! ♪ (explosion) ♪ (explosion) ♪ (explosion) ♪ lead your heroes in the hit mobile game! download heroes charge now! winter is hard on your face. the start of sneeze season. and the wind-blown watery eyes. that's why puffs plus lotion is gentle on sensitive skin. so you can always put your best face forward. a face in need deserves puffs indeed. and try puffs softpack today. >>> joined now by host of the gist and jeff smith assistant professor of politics at the new school. okay. so there are powerful people and regular people. let's start with regular people. my fear is, like, you know, between the snowed in revelations to just litigation to gmail, we are all creating through the day this unintentional permanent record of stuff that we are not thinking about as creating permanent things. and it's all going to be there. right? it's going to be there for lord knows what purposes. but once it's out the

ben bernankey three times appointed by bush, hank paulson came to the democratic congress and said the economy is about to fall apart and we've got to do something that the public isn't going to like and we respond by helping them pass the tarp which goes down in history as the most unpopular successful thing the government ever did. >> rose: we conclude with benjamin scheuer who wrote and stars in a one-man musical called the lion. he reflects on cancer and his father. >> we get dealt those cards. wanting one thing and getting another and how we deal with that is the kind of person we are. i've had the unfortunate circumstance of losing a parent at an early age and being diagnosed with a very serious illness at an early age and i felt the way that i could get through it was to make art. >> rose: when we continue, anthony cordesman, al hunt on the story with barney frank benjamin scheuer all of that when we continue. >> and by bloomberg, a provider of multimedia news and information services worldwide. captioning sponsored by rose communications from our studios in new york city, this

but he knew anything hank paulson wrote down, hank paulson would have to answer for. words on why we may want to follow hank paulson's example. hey, girl. is it crazy that your soccer trophy is talking to you right now? it kinda is. it's as crazy as you not rolling over your old 401k. cue the horns... just harness the confidence it took you to win me and call td ameritrade's rollover consultants. they'll help with the hassle by guiding you through the whole process step by step. and they'll even call your old provider. it's easy. even she could do it. whatever, janet. for all the confidence you need td ameritrade. you got this. oh boy, this always happens to your father. you're clean. you got that right! bam! just gotta check your bag. huh, charmin ultra strong. you're cleaner than i thought. charmin ultra strong cleans so much better it meets even his highest standards of clean. with a soft duraclean texture, charmin ultra strong is 4 times stronger. and you can use up to 4x less. are you good to go hun? cleaner than ever. rotorooter approved. charmin is clog-free or

the thought apparently in looking at the memoir of the secretary of the treasury of the time, hank paulson, there was the thought that a large financial institution failed. he would drag down a lot of creditors and what was happening beginning in 2007 and then into 2008 is that as these mortgages began to fail financial institutions that were holding mortgages and mortgage-backed securities had to write down their assets very substantially and when you write down your assets your capital declines. then there was uncertainty whether in fact they had done enough writing down and whether they were not in fact solving. investors were very worried about this. and as we approached the first few months of 20081 institution in particular who had done a lot of investing in the housing business, bear stearns which was an investment bank and still is in fact an investment bank looked like he was going to fail. the government stepped in and rescued it by providing $29 billion in risksharing funds that were provided by the fed to jpmorgan chase and buried large bank that bought bear stearns and rescued

hank paulson, bob ruben. this is not a new thing.special treatment towards goldman in particular among all the investment banks. but what is interesting is ted cruz is a republican. we are seeing this hatred of investment banking still prevalent within politics on both sides of the aisle. this may be one way ted cruz can differentiate himself from the other republican candidates. betty: facebook plans to unveil tools at its developers conference today that will allow developers to reach an audience and also boost revenue. facebook shares broke an all-time high last week and trading now at $85. some of that has to do with how well facebook has done on mobile. that has been a driver for revenue and also the share price. lisa: which is why they are putting an emphasis on this. they want app developers to use their platform to develop the next big thing so they do not become obsolete. alex: win-win, app developers want the 1.4 billion person audience facebook delivers. betty: exactly. there is apple, that is number one. number two, catch

olivia: i'm so grateful you told me this morning that hank paulson not only saved the financial system-- tom: massive leadership on this. let me go to the monitor quickly. alan krueger with us from princeton. broad dollar, price adjusted. this is a meeting with a bunch of financial ministers. strong dollar -- why are we talking about a jack lew dollar? >> because it is euro weakness. there is no question the dollar has gotten stronger. it is also yen week. tom: he says we will shift to analyzing strong dollar. do you agree? >> i think the fed will start to move back monetary policy. olivia: i look at this and i think collateral damage from the currency wars. 17 central banks cutting rates. tom: let's get to our top headlines. olivia: can you barely wait -- we will see what the economy does for an encore. the government release its february jobs report. the best three-month hiring spree in 17 years. economists say employers added 235,000 jobs last month and the unemployment rate fell by .1%. how much did bad weather hurt hiring and where is wage inflation? another twist in the story of