they were talking to the lehman people daily.officed there. >> more of lehman brothers ahead when 60 minutes on cnbc returns. [ticking] hard it can be...how ...to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,... you can get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. sfx: blowing sound. does breathi

lehman brothers got into trouble. wacovia bank got in trouble. >> what about regulating the derivatives? >> you can always second-guess. i am avoiding your question. [laughter] where do we go from here? that was pretty swift. >> i will give you another question to avoid. let's fast-forward and get into the followed 2008 and the crisis hit the fan -- in the fall of 2008 when the crisis hit the fan. lehman brothers, the decision was made not to save it. in your mind, was that the right decision? lehman brothers, handled right or handled wrong? >> i think they made the call with the facts they had at the time. this government should not be the. for every financial institution out there that would encourage the reckless behavior we are trying to avoid. reckless behavior we are trying to avoid. the government was making a courageous statement that has been second-guessed many times. i was sleeping on the couch in my office many times. we are working continuously for six weeks. you are making hundreds of decisions every day

lehman brothers, the decision was made not to save it. in your mind, without the right decision -- was that the right decision? brothers, handled right or handled wrong? callthink they made the with the facts they had at the time. this government should not be the. for every financial institution out there that would encourage the reckless behavior we are trying to avoid. the government was making a courageous statement that has been second-guessed many times. i was sleeping on the couch in my office many times. we are working continuously for six weeks. you are making hundreds of decisions every day. ,ou can second-guess a bunch but in aggregate, i think they did a phenomenal job. >> they did not save lehman brothers, which meant aig went down. >> they did not have a book on the shelf. they had to do -- when you're presented with the facts in front of you, you have to act based on your experience. look at where the economy is. compare this to the great depression. that started in 1929 in unemployment peaked at 32%. it took 12 years for u

lehman brothers was the next one up. we can talk about whether they could or couldn't but in your mind, was that the right decision as when liam fell -- >> and we'll leave the discussion to go for a briefing with the spokesman, rear admiral john kirby. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2014] captioned by the national captioning institute --www.ncicap.org-- >> as you may recall and i talked about this before, a couple of weeks ago, secretary hagel led a task force to accelerate resupply efforts and the central government of iraq and baghdad. secretary hagel will announce today that seven additional ations have committed to helping provide kurdish forces urgently needed arms and question. operations have already begun. the secretary is grateful to each of these allies for working alongside the united states military. this multinational effort which is being coordinated with iraq and baghdad will help them. and the determination of the iraqi people in

. >> an accounting giant hopes to wash its hands of the lehman brothers collapse. ernst and young won the new york state court to agree it was not to blame. they found the company was not liable for the book keeping track that made lehman brothers look stronger than actually was. general motors the latest targets of regulators in china. shanghai gm says talks with antitrust officials are facing penalties for breaking the country's monopoly laws. they are prompting suggestions that china trying to worse down prices. apple says 70% of employees are white or asian. tim cook says he is not satisfied with the company's diversity. >> company news. lots to talk about but that in the chart. >> beginning of company news, we are getting a lot of news from retailers. macy's will be leading the pack. the earnings report comes out later this morning. we will tell you what analysts are forecasting. that leads to the twitter question of the day, what are you willing to pay full price for? treat us. do you pay full price for anything? >> some handbags. .> bowties they do not go on

people said if lehman brothers were lehman sisters, it wouldn't have happened. i wouldn't go that farm. if it were lehman siblings, we would have had a chance. >> reporter: whether you buy that or not, after the crash, women hold 15% of fortune 500 companies and 17% of corporate board seats though almost half of business degrees go to females. >> if it were intelligence or effort, we would have a more diverse team. who bragged the most eloquently, right? who presented themselves the best? who made the best case? and sometimes those are people who have the best results and sometimes they're not. my experience has been that the gentlemen are more likely to come and ask for the promotion and the women are less likely to do so. >> reporter: sallie krawcheck left banking three years ago, determined to push more women into management. she's now started a stock mutual fund which invests only in companies that promote women. >> here is a market-based, capitalist solution to driving investor capital to those companies. >> reporter: the fund is a joined venture with pax w

hubbell for making his way to the lehman library. we appreciate it and we're so excited excited you are here today. >> thank you. [applause] [inaudible conversations] >> up next, joshua muravchik discusses why israel has gone down since the name and 57 war. he says that oil and geopolitics were to blame early on. now the leftists and intellectual activist signed with the palestinians. this is about an hour. [applause] >> thank you, john. in recent days, israel has been attacked and has been compelled to take action to defend it self from attacks from gaza. this is the third time in six years. once again, voices have been raised criticizing military operations in demonizing israel for acts of self-defense that will be no-brainers for just about any other country in the world. this is a sad and tragic time, especially for the more than 1.7 alien palestinians who essentially have been taken hostage by hamas and its efforts to expand its radical agenda. we're fortunate to have with us today, joshua muravchik, who spoke, "making david int

do you equate this to lehman like effects?t worry that we should have in the 2016 and two thousand 17? >> i do not think it is lehman-like. we have much better capitalized u.s. financials right now. to beggest issue is going people getting scared. when the fed starts taking a lot of this cash and it runs down its balance sheet, there is going to be competition. they need to note is coming. the fed needs to set this up clearly. >> this debate will not go away. it affected everyone earlier. it is a big issue for the banks. >> they are trying to get back on track. in terms of setting you up, we want to set you up for your day ahead. we want to get to our agenda. what you get a started? >> minus iraq. -- mine is iraq. now what? that is what it is to a great extent. far less people on mount sinjar. what will be the u.s. policy? it is a real mystery. >> we have already flown over 120 missions in support of people on the mountain. how did we get the intelligence so wrong? why did we think there were 20,000 when there are 4000? >> her

lehman brothers, the decision was made not to save it.in your mind, without the right decision -- was that the right decision? brothers, handled right or handled wrong? callthink they made the with the facts they had at the time. this government should not be the. for every financial institution out there that would encourage the reckless behavior we are trying to avoid. the government was making a courageous statement that has been second-guessed many times. i was sleeping on the couch in my office many times. we are working continuously for six weeks. you are making hundreds of decisions every day. ,ou can second-guess a bunch but in aggregate, i think they did a phenomenal job. >> they did not save lehman brothers, which meant aig went down. >> they did not have a book on the shelf. they had to do -- when you're presented with the facts in front of you, you have to act based on your experience. look at where the economy is. compare this to the great depression. that started in 1929 in unemployment peaked at 32%. it took 12 years for un

they have been closed since may so, federal lehman dated safety zones could be add. part of that is the insulation of pressurable concrete blocks that flow any plane that overshoots that runway. it caused flight delays averaging 15 minutes and reduced the capacity from 100 flights to 85. with this reopening all 4 runways at sfo are back in operation. >>> well, if your morning commute takes you east through the tunnel you might want to leave a little bit early tomorrow. caltrans will be working on the eastbound approach to number 2 all night tonight. but it will not reopen until 7:00 tomorrow morning. and there is going to be residual delay after that. cal trans is realigning it after it reverses direction. another round of closures set for next weekend. union workers with the golden gate bridge district heading back to the bargaining table tomorrow. 450 ferry captains, deck hands and others voted last week to authorize a strike. they are at odds with the bridge district and health care contributions. it is intended to give union negotiators leverage heading into tomo

the worst we have had since 2008, when the lehman brothers collapsed. that is volatile.stically speaking, we might all be happier. reserve bank of australia has already lowered its current forecast. the currency rate is higher. the lowest private sector wage growth on record at the moment. the mining structure an investment boom is winding down. plenty of evidence to back up that number. >> what about the other indices? they are not so bad. consumer confidence and business confidence have held up all right. this misery index is mad. is it just statistical or something -- or could something be materially done about it? >> i am sure there will be some political violence made out of this. particularly with a nice, exciting name like misery index. the government has a plan to reach the tough budget in the toting -- in the coming days get spending under control. the reserve bank of australia has been running his plan as well. asked,stion has to be can they go lower if unemployment picks up? there are a number of rising permites which would them from doing that. onmay get a fe

>> you know, unlike lehman brothers, i think the u.s.-israeli relationship really is too big to fail. but i do agree with dan that there is a lot of dysfunction at the top. there is a lot of mistrust. there is a lot of suspicion. in life, where you stand has a lot to do with where you sit. and benjamin netanyahu and barack obama are sitting in two very different places with two differing set of conflicting pressures. i think when obama looks at netanyahu, he sees a guy who doesn't respect american interests, who is primarily concerned about his own political survival. and when netanyahu looks at obama, he sees a guy who is insensitive if his point of view to israeli security needs and almost bloodless. so you really do need, i think. as danos, we've seen tough times before. george h.w. bush and they found a way to cooperate with each other. and until netanyahu and obama find a common enterprise, kwleen it wi , i think dan is right. it's going to be very difficult for the less than thousand days that remains in the obama presidency to wor

we now have a misery index of 9.4%, which is the worst of that australia has had since 2008 when lehman brothers collapsed. it is ad say that one-off because of the and implement figure and the unemployment here is notoriously unpredictable. but then again, if you consider some of the background, with the reserve bank of australia already lowered its growth forecast, the certainly high currency, the often talked about end the mining moon and wage growth, private sector wage growth on the lowest on record -- i guess there are a few reasons to feel less happy than usual. so the >> the misery index is bad. what can be done about it? , it is a can imagine good headline grabber. you can ensure that some political capital will be made of it. of course, the reserve bank of australia is desperately trying to stoke the housing construction boom. we will be hearing more from when stevens this week when he addresses parliament. more of the rba plan to stimulate the australian economy. but it is not all that bad. if you look at the misery index as a whole, australia is all the way down at the botto

we hope [speaker not understood] lehman market sometime in august. thank you. >> congratulations for getting to this point. no question right now. we'll move on to our budget analyst report. >> yes, mr. chairman and supervisor mar. on the bottom of page 69 of our report, we report that for the series 2014 c bonds owner with a residence of [speaker not understood] would pay average annual additional property taxes of $12.54 per year. for the series 2014 d bonds, this is on page 70, the owner of a residence were an assessed value of 500,000 assuming the owner exemption of 7,000 would pay average annual additional property tax to the city of $22. per year. we recommend you approve the proposed resolutions and ordinances. >> okay, thank you, mr. rose. supervisor mar? >> yeah, i wanted to thank deputy chief [speaker not understood] for being here, former police captain from the richmond. i think that the bond will really help with the upgrade through the district police stations. also the relocation of the medical examiner facility and the upgrade to the

the new mint -- misery index reading for australia was 9.4, the worst reading since 2008, when lehmanthers collapsed. so, i guess if you are looking for an upside to all of this, it is at least notoriously volatile. we may or may not be seeing a trend. -- find ourselves a lot happier next month. the rba has lowered its growth forecast for australia. currency remains high. wage growth in the private sector is the slowest on record. the mining boom is winding down. on this very wet and dark day in sydney, there are plenty of reasons to feel miserable, angie. >> yeah. i'm feeling miserable just looking at the scene behind you. you are talking about the misery index here. it's bad. rba governor is going to answer to parliament sometime this week, on wednesday in an off-schedule session. a lot of people wondering what can be done about it. >> well, this is the kind of thing that a bit of political mileage always gets made of. we can look forward to a bit of to and fro on that from the country's politicians. but as you mentioned, the reserve bank of australia governor, glenn stevens, will b

> if we cut them off, we can force a rapid adjustment of the fine in 2008 in global markets after lehman fail. >> blocking access was instrumental in the sanctions regime forces iran to the table over its nuclear programme. russia has deeper ties. it would not be painless for the west, european economies, that rely on russian energy, and which so far failed to match u.s. sanctions blow for blow. >>> russia is preparing to send a second convoy of aid to eastern ukraine. the cargo will be delivered to pro-russian separatists in donetsk. it's unclear how many trucks and how many cargo. russia's foreign minister claimed kiev gave preliminary approval and it would be coordinated with the red cross. the other issue on the table is how to stop the islamic state group. the rebel fighters are gaining ground, threatening to spread across the middle east. >> the threat is not only to the region, but the spill over affecting europe. it's not because of the danger of foreign fighters. we need to work within the european union as well. >> australia prime minister says the country's military will trans

collapse of lehman brothers. real events that we can really point to that panicked investors. why did the market rally today? what will investors react to tomorrow? your guess is as good as mine, and mine is not worth all that much. that's our show for today. i'm ali velshi. thank you for joining us. ♪ >>> the united states of america, the national guard, tanks and tear gas and a community dividedded. ♪ ♪ >>> hello and welcome al jazerra. we are live from doha. i am martin dennis. we'll have the latest from ferguson in just a minute. also on the program. another day to work things out. palestinians and the israelis agree to extend the ceasefire for 24

collapse of lehman brothers. real events that we can really point to that panicked investors. why did the market rally today? what will investors react to tomorrow? your guess is as good as mine, and mine is not worth all that much. that's our show for today. i'm ali velshi. thank you for joining us. ♪ >>> hello, everyone. this is al jazeera america. i'm randall pinkston in new york. john siegenthaler is off. flash point ferguson, missouri's governor lifts the curfew on protesters. back up. the national guard is now on the scene as police make more arrests in the streets. unanswered questions, a private autopsy says michael brown was shot at least six times including twice in the head. and weapons of

collapse of lehman brothers.are real events that we can really point to that panicked investors. why did the market rally today? what will investors react to tomorrow? your guess is as good as mine, and mine is not worth all that much. that's our show for today. i'm ali velshi. thank you for joining us. ♪ yem ♪ >> announcer: this is al jazeera. ♪ hello and welcome to the news hour, i'm in doha. the battle for iraq, heavy fighting between iraq forcesen islamic state group near dekrete. gaza cease fire is extended once again as human rights groups say they have been barred from investigating war crimes. the missouri authorities claim police have come under heavy fire in ferguson,

. >> this event, this invasion the best risk indicator, we have this lehman risk indicator. the best one we have, last wednesday we put a note out on declineance. the vix future, you went from contango towards vacuation the clients the hedge funds were buying up the short term ball they were selling that long term ball. that has been the best risk indicator t. bottom line is the risk curb is moving towards contango. >> larry mcdonald, we have to leave it there. hits to the s&p 500 should putin invade, guy, what do you think? >> in astate levels, first, maybe he's right, maybe not. you could easily see that 15% level. but again i'm not trying to be geopolitical here. to me it's all levels, a breach of 1866, i think larry is right in the ballpark. >> you lived in russia for a long time. what do you think the odds are that would happen? in there larry says an invasion, what will happen. it will be a humanitarian effort to save ukrainian lives. so it's not going to be a traditional boots on the ground. there is no way that can happen or geopolitically putin would do that. i don'

i think unlike lehman brothers, this relationship is too big to fail. there is. suspect david will agree, a lot of dysfunction at the top. >> david, how cross do you think the relationship is? the personal effect the political and the security? >> it's probably the worst relationship between a leader. united states and leader of israel since all the way back to the eisenhower days 50, 60 years ago, these men haven't liked each other from the beginning. obama thinks that netanyahu is bullheaded. and netanyahu thinks obama is week. neither trusts the other. we have this incident a couple years ago, 2011, open mike sarkozy couldn't stand netanyahu, told obama that, and netanyahu's a liar. and obama returned to him and said, look, think about me. how frustrating? i have to deal with him every day. i think the relationship has gotten rockier over this period during the war. and the relationship with john kerry has also moved. at one time obama played a good cop -- obama played the bad cap to kerry's bad cop. the israelis think kerry played something to the bad com thi

. >> josh said 73% said country was on wrong track the week after lehman brothers bankruptcy, today 71%, we have not come that far. charles: about this one u79% of people think that their kids, their children will not be as well off as they are. saying that my kids are not going have to the america that i have. >> that is a real problem, the growing income gap, growing wealth gap, making sure that everything 35 thrives. >> and the children seeing their parents struggle, they grow -- up? all right, president obama, will be speaking in any moment, we'll take you there as soon as he begins to speak. podium set up, president, in the same poll his numbers are down. i guess to low points of his obamadministration. that is not good. >> to about what matt said about parents and seeing parents struggling. charles: sometimes people say, my mother neve scrubbed floors,o not like the demonization of successful people. >> student loans, when you leave college or universities, you straddleed with $200,000 of loans, that is a almost unbearable, and makes it difficult to succeed, that is an issue as we

after lehman collapsed, hank paulson, the treasury secretary, reached out to brief obama, and obama was as supportive as he could be in terms of rallying them together for that solution and i am going to break all of this comedy with a tease and make one partisan point, which is democrats, in large numbers, came to the support of president bush, and it was a very tough vote. it was a time of crisis for the country, and i think that was a good example that is worth following. >> my transition is that the second term is about getting ready to pass the baton, and a good president will make sure that the baton is not dropped the day it is passed, not being a lame duck president, getting ready to support a president you may not like what you will respect. >> how do you stay relevant? >> you govern as if it was your first day in office, not your yes, we had the major hurdle of iran-contra, but before that, we also had tax reform with marty russo, and one of the most fundamental tax bill is in american history, and it took place in the second term. so did immigration reform. so did welfare ref

/israeli relationship, unlike lehman brothers is too big to fail. it's driven by wealth and affinity on the part of americans towards israel and israel's neighbors provide the most effective set of talking points for painting a pro israeli case. but there is dysfunction at the top. barack obama and benjamin netanyahu do not get along. you know, where you stand in life has a good deal to do with where you sit. and benjamin netanyahu and obama are sitting in very different praises. israel is a small country living on a nice edge in a dangerous neighborhood. and, you know, the president -- pet netanyahu once said to me, don't second guess me on security issues. you live in chevy chase, maryland and i'm here. literally they fish through the east and west and don't completely comprehend. so this dysfunction between these two is not going to stop. it's probably going to characterize the remaining less than 1,000 days that the president has in his presidency. >> aaron david miller, thank you so much. >> always a pleasure, shannon. >>> well, new development

scenes is a brazilian billionaire that no one is even heard of in the united states, jorge paolo lehmanhe and warren buffett have gotten together on this deal. they also own heintz. they took them private. they own anheuser-busch. there on a path to privatize and reduce the taxes paid by major u.s. companies that we all know and love. i like to ask warren buffett how he felt about the tax value and exactly where he thinks burger king is going to add real value. >> some are calling for a boycott of burger king because of the merger. democratic senator sherrod brown of ohio issued a statement that -- both wendy's and white castle are based in ohio. brown also called for the creation of a global minimum tax to eliminate incentives for companies to move. toould like tim dickinson comment on this. he's written extensively about these kinds of deals and others for "rolling stones" where he is a computing editor. talk about this and then what you called the biggest tax scam ever. >> the inversion trend is just the tip of a very destructive iceberg that is seeing the hollowing out of our corpor

i guess the other thing we do would be to mandate smaller banks and lehman brothers precipitated a crisisand i don't know what it would take to spend one dollar more than lehman. >> there's no clear definition of systemically important and if we knew what we were trying to regulate and in order to strengthen the economy we'd be much better able to do that. the u.s. is the largest economy in the world and no bank is in the top five largest in the world and only three in the top 20 and systemically important is a function of interconnectededly, complexity and things of that nature. i agree with representative frank and they're on your own will bahhance sheet, yes and if you're an asset manager or insurance company where you're not holding the cash, you're simply a custodian for other people's cash, and that is absolutely, not only is it ludicrous. it's chilling because it tells everyone else, gee, you behave because you might be designated specifically important and if you're not taking advantage of the deposit subsidy, by being designated systemically important and you're in a serious comp

stuff that we heard out of italy about a triple -- a triple dip recession, three recessions since lehman. that's really vexing to the markets. i think that's why you're seeing a bid for precious metals here. >> what is veshgs vexing is also going on in germany. on top of that the dax down what, 10% over the past month. in correction territory. for the german markets. the largest, most important -- >> nobody wants to steer us towards emerging markets, go to europe, the best opportunity, go to china. it's still the united states. still the best spot to go and there are areas, been pockets i think can still work and outperform. i don't think you have to go run to the areas now in the marketplace around the world globally, that are getting sold off. a lot of those names are sold off for the right reasons. >> the argument there is no other place to put your money sounds valid. if you look at the bun, paying 1.09%, ten year, 2.44%, look around the world, don't want to invest in equities around the world necessarily. the u.s. market can arguably be the safe haven? >> i agree and said that all a

. >> i was in rome when it happened, because it was a lehman moment for europe, and very bad luck on the timing when it comes to s&p. they do the downgrade at a moment it looks like europe is just trichet and bur lis cone any a cage match. it was bad. what you learned that weekend, when people were terrified, they bought u.s. treasuries. and the timing was so bad for s&p. they just looked completely like -- >> context of the move, yes. >> in 2011, the market was only up a couple percent, but performance of funds severely lagged that. we've seen so many funds that imploded. forget europe. that was a disaster, but if you look at august, september of that year, you had the market that was down double digits as a combination of those two months. >> uh-huh. >> so -- people did follow suit. people did get from inn front of it and made the wrong move. >> the treasury finished up by the end of 2011, up 34%. >> fabulous buy. >> one of the best buying opportunities. >> ever. >> ever for that asset class. i think the takeaway is, if it's the credibility of standard & poor's versus fighting the

september 17th, 18th, 19th, when the bottom dropped out of the stock market, lehman brothers goes up, you know it's going to be tough. but you also believe i can do this, it can be done, because so many times in history people rose up against the odds. if you don't believe in yourself and at least wrap yourself around the job in front of you and take it on -- >> i like that, motivational words. >> we are problem solvers. >> if you're a good politician, hey, i can sleep after the election and i can do all the analysis i want after the election. >> or you'll sleep when you're dead. thank you both. >>> up next, we're getting a little nostalgic here bringing back the gaggle. don't forget, you can always go to our website for all things tdr 50. it won't go away when i leave. from the kansas political al gory and the wizard of oz, all of our tdr 50 segments are on our website. we'll be back in three minutes. you owned your car for four years. you named it brad. you loved brad. and then you totaled him. you two had been through everything together. two boyfriends. three jobs. you're like "no

i was going to bring in sergeant mike lehman. what happened? good morning. thank you for talking to us this morning. what were you dealing with and why did you decide to go ahead and reopen the area? >> when we got the initial calls of the possible earthquake in the area. our units responded over and checked the roadways, off rams and whatnot and discovered damage. we called out caltrans. caltrans did respond out. they found some damage. the damage was determined to be superficial. the decision was made to reopen the roadway. >> can you give us a sense of the broader picture? what have you heard about the bridges and the major enter states? there has been damageout the napa area. the roadways, we have some minor damage here and there. >> how do the bridges look? >> they are looking good. they couldn't report any major damage. >> sounds like our roadways are withstanding the test. >> absolutely. absolutely. >> have you heard of any major problems? >> no major problems at this time. >> that's great news. are you done looking now? >> absolutely not. caltrans co

it is like we have survived lehman and gotten over the european crisis.ssues going on in the world and not everywhere is perfect. that is the last couple of months. there has been no bad economic news for 12-15 months and that has made our cut -- our candidates more confident. >> we are present in russia. russia has been strong for you. what has happened in recent -- in question mark >> recent months? >> you have decision-making. and big legal firms. they are not investing much. equally, if you are a candidate, are you going to run from one issue to another question mark >> -- another? >> does this stop you from expanding question mark >> with have a long-term strategy -- from expanding? >> we have a long-term strategy. writer theg to storm. fortunately for us, the rest of europe -- we are going to ride through the storm. fortunately for us, the rest of europe has not seen an impact. there is no doubt that economic growth is impacted. automotive is a harder marketplace to go than a year ago. you have daimler and tougher markets. the backdrop of where we h

hello, lehman fellow. but the real mark of her life as a journalist stands in a simple question. how many of you remember a specific beth macy story? by a show of hands how many of you remember young selena who made it to harvard with a whole community of gainsborough library patriots cheering her on? [applause] >> best award winning story about the somalis band to refugees that were coming to live in our community, where the children were going somewhere that 12 languages were spoken. her series about teen mothers. families are navigating, caregiving their elderly loved ones or may be what comes to mind is what you printed out. now covered in grease stains, and to make the pap smear. this is in 2005. you all remember s o bs, we have a lot of i b be interviewed by beth macy. we were lucky because we knew our story was brought up in good hands. since 1989, she met her beloved husband tom clanton and now has her two children, she worked for the roanoke times telling stories about us. and how much we knew each other. you know journalists are supposed to be objective. let's credit fe

. >> it was the lehman brothers weakness. >> causing a third of american private assets.he fact that retroactively you go back and you sanction them for criminal offense, basically putting them in a corner, i think that in my view is mobbing. that is something that you would expect to have in russia and not america. new york state is in circles. onyou can feet -- keep finding people for $10 million -- $10 billion, of course you will be in circles. taxpayers are more comfortable the government find institutions are having the institutions protect themselves? >> i think we're talking about frenemies, . what is your favorite bank out there? >> we are not i.t. experts. we are investors. i think the u.s. banking system is a good place to be. assets with bad regard to your equity in the reserve itself. , it wenter of peaks down, it is less than 16%. basically, we are close to an all-time low. the quality of the assets has never been as good. there is a significant change in the way financial institutions need to be regulated. from supervision to i am in your room and i look at

that was the collapse of lehman brothers, of course. howdy you see the assets right now?e whole picture. upsee equity trading that is year over year and we see more interest from investors, both foreign and domestic into the russian equity markets. we have 30-40 investor meetings of month and we see a healthy appetite for our stock. hadee a placement -- we millions of dollars a month ago and it went well. it went multiple times. i think there is investor appetite and smart investors are looking at this. >> you told us the positives with the geopolitical tension and the volume going through to the bottom line. you say it makes your business better. you must be experiencing negatives. give us examples of those. higher volatility and extended times of higher volatility affects certain products in more negative ways. they are not enjoying the extended times of higher volatility. we are looking for a recovery. liking bullish markets and do not enjoy being nervous. >> you have the capital you need at the moment? i know some have been unable to raise money on international marke