police say lehman continued advancing towards the home-owner who shot lehman a 2nd time. they say lehman fled the residence and a short-time later found at cape fear valley medical center seeking treatment. police say the home-owner 58 year old james facing any charges. we are just we are just getting started here on eyewitness news. still to come -- carolina to cuba. steve daniels is i us the incredible struggles cubans face in their daily lives. plus -- queen city tornado. the destruction left behind when a twister touched down in southwest charlotte. and eager beaver. the mess this little guy made to christmas decorations inside this store. it's our must-see video of the night. but first... a live look outside of the raleigh eyewitness news so we're here at the mouth of the cave that no one has set foot look, there's signs of an ancient civilization. let me see if i can translate it. now all this looks like some type of a calendar. hi, just came down here to leave you a little note. new scratch-off tickets come out the first tuesday of every month. new scratch-offs? ye

brothers issuance in this settlement given that barclays did not buy lehman brothers until january of '09. maybe barclays feels they shouldn't be on the hook for anything lehman for anything did before that time. >> it took took time in the past for settlements. when looking at deutsche bank, they have assets of 1.6 trillion euros, give or take. hsbc's around 50% greater. still one of the top ten banks in the world. do you fear we will see ramifications in terms of contagion from the bad loans and high debt levels we're dealing with? >> i think it's receding. i think there was so much concern around deutsche bank in september, they had 500 billion of deposits, 2 00 billion liquidity. still a strong balance sheet, the problem was their capital situation. most of the larger banks can now cope with what's hitting them in terms of some of the litigation. it's taken a long time compared to u.s. banks, but they are step by step getting away from what occurred during the crisis. i guess i'm more sanguine about it. >> looking at deutsche bank shares at the moment, investors relieved but still

about the fact that some of the issues the doj are dealing with is lehman brothers issues. saying we didn't the bank until we acquired it in 2009. maybe theyising, but think the number is ridiculous. this could end up in a settlement, rather than going to court. let's talk about where this leads both credits and the equity side when it comes to deutsche bank. john cryan needed to get this done by 2016. 2017 being aut downslope. how gradual is that downslope because of the litigation risk that deutsche now faces? are we over the worst? >> i think we are. this week, goldman sachs for $150 million for manipulating in the unitedndex states. i said to my sales team, that is a lot of money. but if we look at back in terms of what we have seen in litigation, we are starting to -- see the payoff here. plenty on the play for their lawyers teams. but nothing like we have seen today. guy: how does the market price that? christopher: to say we have got away from the emergency issue funding, whatever, that would have been necessary if it would have been 14. it was a postulant position b

gets a participate in at the end she said not only will i sign up, but i am going to have senator lehman sign also. and that's just an amazing woman, so thank you for writing those incredible books. >> thank you so much. >> but i mean the books were incredible. we presented them to her children and they are all your heroes. >> we have time for one more question in the front row. >> i noticed that you called the years 1933 to 1938 in your previous volume the defining years for eleanor, my sense is that there are also the defining years for franklin. i wonder if you have any insight as to how he moved from the 1933 franklin to the 1938 franklin in your work in writing? >> is the new deal unfolded and as he saw what was possible, especially about housing and firm security, there are so many changes they were wonderful, i think there is henry wallace and he was very important, so i think fdr just, i did not write that, the editor called the defining years but i think that was apt. it really is who can we be in this country? can can we really be a democracy? can we have opportunity for everyb

timothy lehman broke into a home just before 3:00 yesterday morning. investigators say the home owner shot lehman twice before taking off. police plan to charge him with first-degree burglary. >>> autopsies will be performed to figure out how a mother and daughter died. dawnn elizabeth ward and her daughter taylor lynn carroll disappeared sunday. their bodies were found yesterday afternoon. it took hours to recover the they already have evidence to open a homicide case but no arrests have been made. >> hundreds gather to honor the fallen police officer in washington state. jake gutierrez was shot and killed responding to a domestic call wednesday. it was after a 12 hour standoff when people honored and remembered gutierrez outside the tacoma police substation with music, speeches, and prayer. >>> a protest 200,000 people overnight. this is the second major protest against the minority christian governor who is being prosecuted for a budget plus a me. they were calling for protesters to leave when a video circulated online at the governor criticizing de

and mark lehman. the confetti is ready.be used for new year's eve frankly if we don't get the 20,000 number. barry, second highest level on the dow. there seems to be real resistance to hit that level. what is behind this? >> i think it has been the strong run we've had. the s&p is up about 9% from the election time. and it is only natural for the market to have a little bit of a pull back. also, a lot of folks taking whatever losses they can this year because they may not be as worth as much next year with tax cuts. i think that we're in a hope rally. it's strong. these tend to happen after elections going back to 1952. you get strong rallies up through the end of january. we're just in this. you tend to get a bit of a settling after that. i'm not really worried about this level. i remember back in 1980, we said dow 3,000 when it was 800, and people thought we were crazy. we'll hit 20,000, but probably slow down especially for large stocks. we think small stocks are the place to be. cheryl: only two trading sessions after

after two straight losses kevin lehman doing his thing. he struggled early down by 10 points but battled back. spencer hawley men knocked down for triples that will cut the lead to four. later in the half jordan ashton gets into the action. attack better they think the floater george mason get the win 54-50. stock if there's about marsh more -- >>> if there's a mount rushmore a basketball notre dame's on them. the irish undefeated in the number one team in the country and have never lost to the hawks. but that didn't stop them from alley finish the game by 18 and then with time running down kathleen dishes it and she beats the buzzer another double double from her but the hawks never let the game. i will falls 73-58. >>> last season the xavier boys finish their season like every other team dreamed up. winning the last game. now the golden season to get the saints are ready.>> xavier made history last season but today that state title is just a memory. >> it was incredible and a feeling i will never forget.>> we won't think about our succes

another lehman brothers type of moment?lint: i think you saw the markets react very well to individual institutional ignorance in 2016. extraordinary parts of the referendum in june was people went to bed that night with markets, commentators, pundits, pollsters predicting one result and woke up in the morning with a different outcome. market volumes were six times normal, huge volatility. banking stocks predominantly based in europe with european customer bases suffered 20%, 30% declines, commodity prices were all over the place, and everything worked. everything settled. all the trades could be executed. there was liquidity to do everything. you stand back and say the system has been built that can thattand the system, so gives you confidence that the system in aggregate is a great deal more resilient than it was. francine: what worries you now about brexit? mr. flint: just the uncertainty. you could model almost every option that you think might happen. the sooner there is some clarity means you can discard some of the o

another lehman brothers-type of moment? mr.lint: i think you saw the markets react very well to individual institutional events in 2016. one of the extraordinary parts of the referendum in june was people went to bed that night with the markets, commentators, pundits, pollsters predicting one result and woke up in the morning with a different outcome. market volumes were six times normal, huge volatility. banking stocks predominantly based in europe with european customer bases suffered 20%-30% declines, commodity prices were all over the place, and everything worked. everything settled. all the trades could be executed. there was liquidity to do everything. you stand back and say the ecosystem has been built that can withstand the system, so that gives you confidence that the system in aggregate is a great deal more resilient than it was. francine: what worries you now about brexit? mr. flint: just the period of uncertainty. you could model almost every option that you think might happen. the sooner there is some clarity and d

crisis of 1997-19 98, the lehman low, the red circle.justing. michael, how would these nations adapt to president-elect trump and what will their currencies do? easy continuing weakness as a tool for these many nations. michael: great question and not a simple answer. thing for at is one currency to weaken in a shock 2015 withn august of the chinese currency moving. that got the vix correlation with the chinese currency -- after that initial shock and all, and you start getting into , more a more gradual weakening it is not so bad for global risk. let's not forget the trump has vowed to fight and ethics were with the chinese. -- fx war with the chinese. how he does that will be an interesting question. moment, theor the world's sole exporting a lot of goods and services to each other. mexicans handed the and chinese a surplus already. tom: we are focusing on turkey as the e.m. disaster of the moment. you have seen the doom and gloom articles out there. when you some all of them fullher, how does that over to global and u.s. financial ins

hansche, drives to the hoop and banks in the left-handed floater... 18 points for the regina grad jenna lehman started to heat up from three-point land... she hit five triples, including this one to end the third quarter... 26 points for her... kohawks win 72-59... on the men's side, pretty close first half... the feed inside to monticello grad spencer williams, count it and one... coe up 12-7... later, dubuque wahlert grad nolan timp drives the baseline and gets the kiss... kohawks up 22-21... big game from trevor haaland, launches a sweeping the doubleheader the big 10 announced their all conference offensive team today.. and iowa o-lineman sean welch, james daniels and cole croston were named to the third team for opening holes for this guy akrum wadley who was selected as a third team runningback.. lashun daniels who went over 1,000 this year was honorable mention along with cj bethard, riley mccarron, orge kittle and ike buttger.tha joe... scattered flurries come to an end overnight bringing a gray and seasonable start to december. clouds will hold tough through saturday. highs also remai

another lehman brothers-type of moment? mr.lint: i think you saw the markets react very well to individual institutional events in 2016. one of the extraordinary parts of the referendum in june was people went to bed that night with the markets, commentators, pundits, pollsters predicting one result and woke up in the morning with a different outcome. market volumes were six times normal, huge volatility. banking stocks predominantly based in europe with european customer bases suffered 20%-30% declines, commodity prices were all over the place, and everything worked. everything settled. all the trades could be executed. there was liquidity to do everything. you stand back and say the ecosystem has been built that can withstand the system, so that gives you confidence that the system in aggregate is a great deal more resilient than it was. francine: what worries you now about brexit? mr. flint: just the period of uncertainty. you could model almost every option that you think might happen. the sooner there is some clarity and d

. >> lisa lehman is here toa an i explain. so, how did the election spurn people to start giving? >> well, it was a little a lit surprising to us.surpng >> uh-huh. >> but the obviously it was a divisive election. >> sure. >> a lot of strong feelings, a lot of passions werf est surfaca in it and what we found in founi this poll is that that has actually driven people to want t to give more to charitableharibl organizations.orzati >> wow. >> they see what we found is that -- and when i say give g that applies both financiallyia and giving of their time whether volunteering orr advocacy e they saw it as a way to have a positive effect on the world eff some way that they can getayha involved and directly impact things that they would like toth see changed and they saw it as an empowering way to do that.tot >> in years past we've seen s financial support drop for ap f lot of charities because ofauseo the economy, because of other extenuating circumstances.ircums does that play a factor? hasacs the tide changed in your observation. >> we saw it in the poll and pollnd we're certainly see

since they bought lehman brothers, at the height of the financial crisis, costs swelled. the company kept losing money abroad. those initiatives focused on cutting employees. most recently, they cut 900 people in europe and the to save 700order million dollars this fiscal year. it looks like those efforts are starting to pay off. the company is on track to post the first profit abroad in seven years they have earned ¥40 billion. turning to other ways to save money, mainly through this waterline project to eke out savings from everything they do. betty: much more ahead on "daybreak asia." japan trying to give more free employees,rworked but can they get their citizens to finally relax? ahead, our next guest says inflation will be the main source of concern in 2017. he is predicting four rate hikes from the fed. ♪ .": this is "daybreak asia quick check of the latest headlines. super mario is taking his run to more mobile devices. it has begunsaid preregistration. until now, the game has only been available on apple mobile. interest has tailed off. super mario run is no long

northern iowa looking to bounce back after 2 straight losses -- hosting george mason.kevin lehman doing his thing on the mic -- panther offense -- struggled early -- down by as many as 10 points -- but battled back -- specner haldamen knocked down 4 triples -- that one cuts the lead to 4 -- haldamen then bennett koch -- turns around and slams it home -- for two of his 10 points -- and later in the half -- jordan ashton -- gets into the action -- he splashes home the three -- panthers shot just 26 percent from the floor. patriots -- a tad better -- marquise moore -- sinks the floater -- and george mason gets the win-- 54 to 50.if there's a mount rushmore of women's basketball -- notre dame is on it -- that's what lisa bluder said on monday about her team's opponent in the big 10 / a-c-c more to say the irish are undefeated, are the number 1 team in the country, and have never lost to the hawks that didn't stop ally disterhoft from doing her thing -- the west high product -- dials long distance and connects from the corner -- ally finished with a game high 18. and then with time winding d

>> if you think about where we were last year, having conversations comparing glencore to the lehmanthers. this is a full on crisis. to scrap dividends, commodity prices are way down the may had in. the company had $30 billion of debt. to engineer the turnaround we have seen, it has been quite remarkable. .hare prices tripled that is being held a lot by commodities prices. they have enacted a big debt reduction program. today announced they would reinstate the dividend. to go from the conversations last year to pay for $1 billion dividend next are is a leap forward for that company. >> i believe it is one of the best performing stocks on the ftse 100 this year. has this been primarily driven by the rebound we have been seeing and commodity prices, which might ask questions over sustainability, or has it been the debt reduction plan and with the management has been doing? definitely both. look at coal and commodities for glencore. both are up 70 send this year. they have sold $6 billion of assets, reduced the level down to $16 billion by the end of the year $230 billion by the and of

for lehman brothers, it took a to tumble.set prices after oil's collapse, we did not see the pain until5, so i would say we are in the first quarter if we were looking at a basketball game of four quarters. tracy: you not playing with the baseball analogy, basketball instead. aree: whichever quarter we in, it seems like we are witnessing secular change? angie., hi, we certainly are. there are reforms and measures that have taken place, countries and economies in the region making long-term structural changes to benefit and diversify economies to the alongside. -- for the long-term. when we talk about middle east and africa, what are talking about here? and how are you wanting investors off these equity markets? >> we are talking east from turkey to morocco and down to south africa, that is the geographical region we look at. that is the space. angie: are they miss priced in your view? of, sorry, can you please repeat the question? angie: do you think those priced right now? >> we certainly are. in general, the markets in the middle east and africa are mi spriced because they are dominat

lehman, it took a year for asset price to really tumble.lapsed this time around, we didn't start seeing the pain until really 2015. would say that we're probably in the first, you know, quarter if we were looking at a game of four quarters. >> you're not playing with the baseball analogy. basketball instead. ha! well, whichever quarter we're in, it seems like we are witnessing secular change. >> yeah. we certainly are. of the reforms and a lot of the measures that have taken place are the economies. a lot of the countries in the region making long-term touctural changes in order diversify their economies for the long term. so a lot of these measures are say.to >> when we talk about middle east and africa, what are we talking about here, and how are warning off investors, off of these equity markets? >> we're talking about all the way east, from turkey, you know, way sideways to morocco, down to south africa. geographic mandate that we look at. so that's the space that we look at. >> okay. are they mispriced, in your view? of -- sorry. can y

then regina grad jenna lehman started triples, including this one to end the third quarter... 26 points for her... kohawks win 72-59... on the men's side, pretty close first half... the feed inside to monticello grad spencer williams, count it and one... coe up 12-7... later, dubuque wahlert grad nolan timp drives the baseline and gets the kiss... kohawks up 22-21... big game from trevor haaland, launches a deep three finishing with a career-high 24 points... coe wins 75-56 sweeping the doubleheader the big 10 announced their all conference offensive team today.. and iowa o-lineman sean welch, james daniels and cole croston were named to the third team for opening holes for this guy akrum wadley who was selected as a third team runningback.. lashun daniels who went over 1,000 this year was honorable mention along with cj bethard, riley mccarron, george kittle and ike buttger. starting off with a live look at . it's thursday, december 1st. here's what you need to know today. today, loved ones will honor the life of a man killed in car crash on i-380. they are holding a vigil for 21-year-

lehman's can sometimes i appreciate. wife collapse and 9:00 p.m. in three hours, her husband was scheduled to be executed. 800 members of the state police force had assembled outside the prison, armed with machine guns and fire hoses. inside sacco and density sat inside their cells. finally, a very miffed governor of massachusetts granted sacco a stay of execution and gave them 10 days to exhaust their appeals. later that night, holmes releases one-paragraph opinion to the press. he said he lacked the power for a stay of execution. and there was a big difference theeen a lynch mob and prejudice in this case. "i said most differences are differences of a degree. i felt a line must be drawn between external force and prejudice, which could be alleged in every case." >> you can watch the entire program on the case on sunday at 5:10 p.m. eastern here on c-span3 "american history tv. " december 7 marked the 40th 70th anniversary on pearl harbor. up next on "reel america," the from 1942.r, a film the film begins with the japanese attack on pearl harbor a

lehman's consent caps on appreciated. back in boston, the defense committee was panicking. sacco's life collapsed in the committee's office is not a clock p.m. and in three hours her husband was scheduled to be executed. 800 members of the state police force had assembled outside the prison armed with machine guns and fire hoses. satde, sacco and vanzetti in their cells. a miffed judge granted sacco and vanzetti the stay of execution at 11:27 p.m. and gave them 10 days until august 22. to exhaust their appeals. later that night, homlmes released just want -- justice holmes releases one paragraph to the press. he said that was a big difference between a lynch mob in the dempsey case of the sharecroppers in the prejudice in sacco-vanzetti. whatand thompson wrote, was the difference between the allegations in the case? justice holmes disagree. he declined armed police protection. at the supreme court, a postcard labeled "free sacco and vanzetti " arrive. it's an, there's any more trouble within our ranks, they are going to blow up. coast guard offices guarded the others and ca

off the back of lehman, it took about a year for the region to start feeling pain, for asset prices totumble. notr oil collapsed, we did really start seeing the pain until mid-2015. i would say we are probably in the first quarter if we were looking at a basketball game of four quarters. >> you are not going with the baseball analogy, basketball instead. whichever quarter we are in, it seems like we are witnessing secular change. >> yeah, we certainly are. is.e definitely a lot of the reforms and a lot of measures that have taken countries inof the the region making long-term structural changes in order to benefit and diversify their economies for the long-term, so a lot of these measures are here to stay. >> when we talk about middle east and africa, what are we talking about here? how are you warning off investors off of these equity markets? >> we are talking about all the all theast of turkey, way sideways to morocco and down to south africa. that is the geographic mandate that we look at. >> are they mispriced in your view? >> can you review the question? those marketsk are mispri

lehman brothers was kind of the end of the trail. it was pretty ugly there for a while.st happened with the fixes -- so the question is, can you test the hypothesis that the system isn't as fragile? that is what the stress tests do. you implement a mortar coney an element and you show that, in our company's case and others, we come through with as much capital as we started with before the crisis. in general, we have twice or three times as much capital. now the question is, where do we stop and start going forward and have a better trade-off between the safety and soundness and the growth engine? charlie: these things have to do with politics and finance, which is climate. you had the president raise questions about climate change. he thoughtd him say there might be some connectivity between human activity and climate change. then he invited al gore to come in and see him and his daughter. appointed someone who was a huge opponent of epa to run epa. mr. trump is going to be a little harder for us to figure out. but let's step back. if you think about corporate whether i

mark lehman. >> thank you, mister president. from russia, china, for a moment, you that as your successor spoke by phone with the president of taiwan the other day and declared subsequently that he wasn't sure why the united states needed to be bound by the one china policy, he suggested it could be used for a shift to get better terms and more corrupt -- cooperation on north korea. there is already evidence tensions between the two sides of increased a bit, just today the chinese have seized an underwater drone. do you agree, as some do, that our china policy could use a fresh set of eyes and what is the big deal about having a short phone call with the president of taiwan or do you worry these unorthodox approaches are sitting at collision course with our biggest geopolitical adversary? >> that is a great question. i am somewhere in between. i think all our foreign policy should be subject to fresh eyes. i think -- i said this before, i am proud of the work i have done, i think i am a better president now than when i started.

2008, deeply divided investment banks faced backgrounds, as they started to doubt solvency when one, lehmanallowed to go under, regulators are the biggest firms are so interconnected that only massive bailouts kept dozens more from failing around the world. here's the argument -- democrats vowed to defend dodd-frank, saying it is slowly producing better banks. republicans and the former fed chair say it would be better to check the ever thicker roll block and make banks rely on heavy capital reserves. you can read more about bank regulation and olive quick takes at ni quick on the bloomberg. head to bloomberg.com for more stories. president-elect donald trump promised to crack down on undocumented immigrants during his campaign. since collected, yes softened his stance but policies could have an impact on business in the country. in an extensive interview detroit, bloomberg businessweek d megan murphy sat down with about --alysts asking and asked about how he expects the regulatory policies in america to change. jaime: i go to j.p. morgan chase and i told them that if you are black, jewish

got to participate in the day and she said not only will i sign up but i'm going to have senator lehmaned also. just an amazing woman, so thank you for writing those incredible books. >> thank you. >> thanks so much. >> i presented them to my children and you were and you are all their heroes. >> we have time for one more question. >> i notice that you called the years 1933 to 1938 in your previous volume the defining years for eleanor. my sense is they were also the defining years for franklin and i wonder if you have any insight as to how he moved from the 1933 franklin to the 1938 franklin in your work and riding? >> i think as the new deal unfolded and as he saw what was possible especially about housing and security there were so many changes that were wonderful and i think there was henry wallace and he was very important. i think that fdr, i didn't write that. the editor called the book the defining years because i think that was apt and it really is, who can we be? what can we be in this country? can we really be a democracy? can we have opportunity for everybody, housing for ev

>> first, banks after the lehman crisis have been recapitalized much quicker than any other market. the large structural advantage is the huge domestic market that offers opportunities for scale and respective cost advantages. on top of that there's a dramatic difference on the earnings side. the american banks have much higher commission income than we see in comparison to german banks. german banks are at 73% of the income interest based. the u.s. competitors have some 60 60%. >> thank you very much. >> pleasure. >> so, another interesting ecb day. another day where probably german banks will step out afterwards, say this low interest rate environment is destroying our business model. and, of course, looking at the profitabilities as we were just talking about, they have a point here. back to you. >> thank you for now. of course we'll be checking in on you here later on because we have you all covered. the ecb rate decision is happening today from 13:30 cet. we'll get questions from that press conference. >> let's get another voice on this, charlie diebel joined us around the desk

lehman brothers was kind of the end of the trail. it was pretty ugly there for a while.hat happened with the fixes is -- so the question is, can you test the hypothesis that the system isn't as fragile? that is what the stress tests do. you implement a mortar coney an element and you show that, in our company's case and others, we come through with as much capital as we started with before the crisis. in general, we have twice or three times as much capital. now the question is, where do we stop and start going forward and have a better trade-off between the safety and soundness and the growth engine? charlie: these things have to do with politics and finance, which is climate. you had the president raise questions about climate change. then you had him say he thought there might be some connectivity between human activity and climate change. then he invited al gore to come in and see him and his daughter. then he appointed someone who was a huge opponent of epa to run epa. brian: mr. trump is going to be a little harder for us to figure out. but let's step back. if you

prospective homeowners to get a mortgage, car buyers to get a loan, and right before election day, lehmanrothers collapsed, unleashing a real, actual fear that the whole financial system could come crashing down. it's hard to remember that right now, thank goodness. across the country, people are rapidly losing confidence in the government's ability to stem pan ic and the government was the ability to save the financial system. we have to remember the real lives of millions of american households and businesses outside of wall street, off of wall street. this month eight years ago, we had already lost 695,000 jobs. good paying, middle-class jobs. when barack and i placed our hands on the bible as we were sworn in on january 20, 2009, we had already lost almost 700,000 -- at that moment -- and we ended up losing 800,000 by the end of january. unemployment would eat at 10%. saw-term unemployment historical highs. the poverty rate exceeded 15% -- that's the highest level in decades. the stock market plummeted. it's hard to believe it now. it was going to fall below 6000. that was the debate.

let me bring in former lehman chief financial officer, brad hint. teaches at nyu school of business. brad, the banks don't like this. big names, morgan stanley, jpmorgans moved higher. now they're not doing so. what should we infer pertaining to stocks what janet yellen did hour 1/2 ago? >> what yellen said the economy is doing well. she is going to raise rates. in that you will find that a portion of the banks will do very well. you will be, the banks deposit bases are worth more. so in rising rate environment, you get rising net interest margin good for the banks. in the initial part of a rising rate environment foreign exchange and fixed income guys do very well. so you kind of look forward into q1 and say trading businesses will probably do reasonably well in that kind of an environment. longer term the issue is, certain parts of it slow down. mortgages, right? as rates rise, mortgages will begin to, mortgage origination will slow, more costly to do mortgages. people don't do refinancing. that will slow down people like wells fargo, right? much

how much do think we lost in the nine quarters after the lehman crisis?ple guess $5 million, $10 million. we made $20 billion. we helped. we bought wamu. we saved 30,000 jobs, and in doing so, helped governments, cities, schools. i understand the concept. the american public saw a disaster. it wasn't their fault. it was generally wall street and washington. they absolutely have the right to say that we want a safe banking system that does not take down my economy. that does not mean there for all these rules and regulations are good. they are unrelated. the american public has been told that. what ever the banks want, don't do it. strength dodd-frank, that is not accurate. a lot of these things in dodd-fnk had nothing to do with the crisis, zero, just certain democrats who put things in because they felt like it. if it had the name of a senator on it, that was the bad part. barney frank and i agreed that some of the thing should have been in there. any time you have done major legislation and major regulation, and they are different by the way, it is perf

car buyers to get a loan and right before election day, lehman brothers collapsed unleashing a real, actual fear that the whole financial system could come crashing down. it is hard to remember that right now, thank goodness. across the country, people were rapidly losing confidence in the government's ability to stem panic and stabilize the financial system. we have to remember that the turmoil in the financial sector led to crippling conditions in the real economy, the real lives of millions of american households and businesses outside of wall street, off of wall street. this month, eight years ago, we had already lost 695,000 jobs. good paying, middle class jobs. when barack obama and i placed our hands on the bible, we were sworn in on january 20th, 2009, we had already lost almost 700,000 at that moment and ended up losing more than 800,000 that month of january. unemployment would peak at 10%. long-term unemployment saw historic highs. poverty rating seeded 15%. the stock market plummeted. was it going to fall below $6,000? trillions of dollars in wealth lost, decades of retir

it is similar to lehman. we knew lehman had to do something in march of 2008. then over the weekend, we have to stop -- we had to stop it. ecb,han: talking about the they have to make a supervisory decision then a monster -- monetary policy decision. what have they said in the past about the bank and what they could potentially due to maintain financial stability? alessandro: the system is uncharted for the ecb. -- the situation is uncharted for the ecb. usually, the supervisory board, which decides independently from draghi and the monetary policy side, makes their decision, then goes to the council. they usually have two weeks to object. if they do not, the decision becomes binding. and the council usually does not intervene in supervisory decisions because they're supposed to be a separation of power between those two arms of the ecb. it would be quite unprecedented if the council reverses this decision. david: it feels like monte dei paschi is running out of options. if the ecb could -- thought qatar would come in, they probably would not do this. so who wi

let me bring up trade weighted chart that bears witness, a huge plunge in sterling off of the lehmans sterling is on a trade weighted basis, pretty much where it was at the lehman low's, here is brexit showing trade weighted weakness. sterling next year? be at riskrling will year because the start of the brexit negotiations could be pretty tough. britain is drawing of a wrist -- wish list. the eu is not in any mood to grant any of that. touch start of the negotiations may be currency negative and then it depends on how fast written gets real about its position in europe. tom: critical here is does currency drive the debate? if i get the motion of a 119 sterling -- emotion of a 119 sterling does that change the debate or politicians immune to what the market say? holger: from my view i do not think they are immune but this is a matter which goes far be on what could be called potential shirt -- short-term market moves. it would have to be a market move triggering a sense of crisis which i do not think what happened to really have a serious impact on the debate, probably this is for th

a major institution couldn't pay their debt, either they let it go bankrupt, which they did with lehmanthers which caused a terrible economic shutdown or they paid off all the doefts aig and kept it in business. our law says no more of that. if a big company or bank comes to the federal government and says we can't pay our debts and they're so indebted because the law permitted them to be irresponsible, they can't do that anymore. under the law, the federal government would say okay, fine. you're out of business. here is the door. we're taking over your operation. and if we have to pay any federal money to reduce those debts, we're going to assess the other big banks to pay it off. there is this whole set of rules that we put in to make sure that people do not get indebted beyond what they can pay off. because it was that that caused the crisis. and patiently that's what he wants to repeal. and again, the hypocrisy of this man saying i'm for the little guy. wall street hasn't been this happy since herbert hoover made andrew mellon secretary of the treasury that led to the great depressi

lehman, i think someone retweeted me. >> seth, you're just some random kid in high school, who wouldtweet you? [ laughter ] >> kellyann, i just retweeted the best tweet. wow, what a great, smart tweet. >> mr. trump, we're in a security briefing. >> i know, this could not wait. it was from a young man, his name is seth, he's 16 and in high school. and i seriously did retweet him. this is real. >> he really did do this. >> well, sir, you're the president-elect. so i guess you can do whatever you want. but we would really like to fill you in on syria. >> seth seems to cool. his twitter biosays he wants to make america great again. >> that is cool, sir. >> it also says he loves the anaheim ducks. >> there is a reason he tweets so much, to distract the media from all the scary people in his cabinet. >> very clever, sir. >> actually, that's not why i do it. i do it because my brain is bad. >> david, he did not like that skit. he tweeted later that it was sad, if you will. >> yes, he didn't like it at all. i think my favorite moment in that entire sketch is when the actress playing kellyann

crooks, frauds, and mount banks, especially those who got burned owning the old, say, fannie mae or lehman brothers, but, look, that's the wrong lesson to draw from the crash. healthy skepticism is one thing, a total unwillingness to believe in anything positive is something else entirely. if you're going to own stocks, you need to be willing to extend some measure of trust to the people who run the companies that you own shares of. what else could be going on to spur buy something we've had a massive amount of consolidation in a host of industries of late. we've seen it in airlines, rental cars, foods, telecommunications, entertainment. perhaps these executives are buying stock because they hear the footsteps. maybe they've been contacted by some other company and turned that company down. if executives expect they may be next, it could be a healthy and honest reason to buy. of course they have to disclose anything that's a serious bid. a lot of times, they just get a phone call, say no, bye. well, they do that because the company is worth more than they thought. maybe they think the comp