jack ablin, joining us in the studio. remember the week that lehman brothers fell one year ago. three men in the middle of the storm and their recollects to me in their observe words. >> there were a number of us there who knew this was not only a question about one company, one firm. this wasn't only about intercompany contracts and whether we will make money or somebody else makes money, but that if something did happen to lehman, it could undermine confidence in the entire financial system. >> going into the first part of this year, we went from bad to worse, worse to worse. and the marketplace was so frightened that people put so much of their free money into cash. >> it was stressful. it was emotional. we knew we were playing for big stakes. so, on one hand, we knew that if lehman went into bankruptcy, there would be huge implications in the markets. >> up next on the "wall street journal report," who is watching america's banks? i will talk to the woman in charge and how she keeps an eagle eye on them. sheila bair joins me. >>> and the cause for global education. my one-on