police arrested austin lehman yesterday after they got a tip from another student who said lehman was planning ton shooting people at a job correspond in luzerne county. >> kind of a shocker, but the way the world is going, it's out of the ordinary. >> lehman texted a female student and said he idlizes serial killers. the student contacted the director of school security who alerted lehman about that, he is charged with making terroristic threats. >>> several school districts around the condition are banning backpacks as a way to make schools safer. school leaders who made the changes at eastern ohio school are looking to give their students extra time to swap out their textbooks, students will be able to carry small purses and lunch boxes. >>> fire officials are trying to figure out what sparked an enormous blaze in the lehigh valley that canceled classes for students. flames destroyed buses the flames erupted with tires bursting off their rims. officials canceled classes and hope they resume on monday. >>> one teenager turned himself in after a fight in delaware. 18-year-old randy r

officers arrested austin lehman who got a tip from other students who was planning on shooting other people at a job correspond. >> at least someone tipped us off. kind of a shocker, but the way the world is going not out of the ordinary. >> lehman texted the students and told her, he utilized other serial killers. the student contacted the director of school security and reported it to police, he said he didn't want to hurt anyone but is charged with making terroristic threats. >>> fire officials are trying to figure out what sparked an enormous blaze for classes for dozens of students. the blaze erupted at 3:00 a.m. yesterday with fuel tanks exploding and tires bursting off their rims. officials canceled classes, but hope they pick up on monday. >>> one student was arrested stemming from a brawl at a basketball game in delaware. smyrna and copy henlopen on -- cape hen cape henlopen on saturday. he has been charged can assault. >>> the late reverend billy graham coming home to charlotte, north carolina, the casket will make 130-mile trip from a mountain chapel to graham's library. h

derivative -- derivatives was right in the middle of lehman and all those problems in 2008.we trust to sort this all out? jesse: i am not sure we are up to the task of writing about derivatives. there is a lot of criticism of the liquidation authority in this report. of tryinghe direction to keep taxpayers off the hook when a big bank fails. this will bef taken up remains to be seen. republican lawmakers are not happy that the liquidation authority is sticking around under a republican president. the financial services committee chairman kept coming statement, saying many had been pleased about the treasury's previous reports. disappointed, and was inconsistent with the president's principles. the reasons given to justify keeping this? givent were the reasons to justify keeping this? this goes west, do you break up too big to fail banks, or keep them around? you could run a much smaller bank during the bankruptcy process. you could split up jpmorgan and goldman sachs. it becomes less daunting to run a bank that size through the bankruptcy process. have theseyou massive insti

wolves ended the unbeaten start to wigan to the season with a 16—10 victory at home, tries from tom lehmans helping warrington take the lead early on against wigan side playing their first game since returning from down under, despite a late fightback from wigan with a last—minute try, it was too late to rescue the match. warrington went on to play for victory. in the championship tonight, hull city's match with sheffield united was suspended for two and a half minutes because of a protest by the home fans against the club's ownership. manchester city manager pep guardiola has been charged by the fa for wearing a yellow ribbon which shows his support for those imprisoned in the fight for catalunyan indepencence. he revealed in november that he wears it in a show of solidarity towards the politicians imprisoned in his native catalonia where he was born, played and managed. the football governing body said he was in breach of its kit and advertising regulations. arsenal will face ac milan in the last 16 of the europa league. the first game will take place on march the 8th ahead of the return

i had lunch with david lapierre, chris cox and david lehman of the nra. i could tell they want to do something. i said, fellows, we have to do something. we're going to do strong background checks. very strong. we have to do background checks. if we see a sicko, i don't want him having a gun. he know there was a time when anybody could have. even if they were sick, they were fighting. and i said, fellows, we can't do it anymore. there is no bigger fan of the second amendment than me and no bigger fan of the nra. these guys are great people. they're going to do something. and they're going to do it, i think, quickly. i think they want to see it. but we don't want to have sick people having the right to have a gun. plus, when we see somebody like this guy, they didn't do a good job but they had restrictions on what they can do. we have to give immediate access to taking those guns away so they don't just leave and you sit there with seven different weapons. you have to give them immediate access. don't worry, you're not going to get any. don't worry about t

your second longest serving tea shock after lehman. you have the shock could negotiated from the irish say the the good friday agreement. how much of a risk is the bricks of process to that crucial agreement that brought peace to the whole idea was to try and make. the island of ireland one economic yunus. so that we could move freely without any restrictions without any regulations whatever that trade was true a frictionless border. which meant because now there are so many arguments about it at the time it was a boarded up was free of any security a free of any checks and free of any passport or reg the two controls of any kind then leave had fifteen years plus. of niland was developing and i lent out how do you cannot make links and was poor compare fickling and unfortunately breakfasts and so many ways and the owner mind and you think in the way that almost two decades of peace. of practical peace has made keep politicians in the u.k. complacent about the solidity of the good friday agreement in this threesome mayo david davis even

wolves ended the unbeaten start to wigan to the season with a 16—10 victory at home, tries from tom lehmanrst game since returning from down under, despite a late fightback from wigan with a last—minute try, it was too late to rescue the match. warrington went on to play for victory.

barbara lehman once thought she'd never get duped into paying a scammer. >> why would anybody fall forstuff? oh, my goodness. now i know. >> reporter: but she did, when a caller told her he was from the american electric power company and asked her to pay 350 bucks as part of a new policy on deposits. at first she was suspicious. >> i said i'm going to call the company and check on this. >> reporter: so the scammers gave her a direct number to call, easing her fears and when she thought she was speaking with another employee from the electric company, she gave up her credit card number. >> he said well, i'll tell you what, if you don't pay this, we're shutting off your electricity. >> reporter: according to the better business bureau, if you feel pressured for immediate payment or personal information, hang up the phone and call the customer service number on your utility bill. authorities also want to remind people to never give out personal information, like bank account and credit card numbers if you get that call. tom. >> some good tips tonight. thank you, stephanie. >>> up next, w

she has been an architect of that and if you go back to the lehmans brothers crisis, it would be fairood job steadying the markets. arguably the job growth we have seen is down to her policies. donald trump is claiming credit but probably hasn't contributed much. choppy waters all the time, we are back on that deadline for the us budget. will they be thrown back into chaos? the markets, note the conciliation in the state of the nation. the senseisit in the state of the nation. the sense is it will be easier to get a solution this time around. thank you. still to come. this week, we've seen a drop in user numbers for facebook, and the price of bitcoin has yet again taken a tumble. later in the programme we'll get a review of the week with our tech guru rory cellan—jones. you're with business live from bbc news. amid all this tech news, telecoms giant bt has also published its results, reporting a 3% drop in sales in the third quarter, although pre—tax profits were up. our own theo leggett is here to tell us more. what should we make of these figures from bt? they are disappointing but

and your board and lehman bit economy are trying to find will go. on to good in front of the school was the father of the school years could soon force. should needs a moment of these evasive each new suit me if if.

second longest serving the shock after lehman. you have the could negotiated from the earliest say the the good friday agreement. how much of a risk is the bricks process to that crucial agreement that brought peace to the whole idea was to try and make. the island of ireland one economic yunus. so that we could move freely without any restrictions without any regulations whatever that trade was true or frictionless barter. which meant because now there are so many arguments about at the time it was a boarded up was free of any security of free of any checks free of any passport or regular to controls of any kind then leave had fifteen years plus. of niland was developing and i learnt that how do you cannot make links and was poor compare fickling and unfortunately breakfasts and so many ways and the owner mind and do you think in the way that almost two decades of peace. of practical peace has made keep politicians in the u.k. complacent about the solidity of the good friday agreement in this threesome mayo david davis even the n

i think by the summer of 2007, we never really encountered with lehman or bear stearns or any of that. house prices were already falling. i think it was becoming clear that credit was growing quite tight. while the unemployment rate was very low, we had tightened monetary policy, inflation had risen a little bit above 2%. i thought, downside risks to the economy and the labor market were beginning to dominate the outlook. certainly by 2008, after lehman, even though later on there was another surge in oil prices that took inflation up, we had a real economic situation that was a simply becoming so dire that to my mind, there was no question that that was the dominant matter of concern, and that if unemployment rose to the levels it looked likely to rise, and i think we are lucky rose no higher than 10%, if you had not done all of the interventions that you supported, god knows what would have happened to unemployment. i had no doubt that was the primary -- what our primary focus had to be. inflation surely would come down in that kind of context. ben: after those interventions, trying

let me look at lehman lows. and george bory. i decided to look at the bond market.e's the lehman low, and equity kind of thing, i guess. here's a terrible bond pullback. bond pullback.e we need to put things in perspective. francine? francine: this is my perspective. this is s&p 500 chart back to 2004. ,very time there's a red circle that market pullback was around 5% if not more. you can see it is from june of 2016 that we have not had such a pullback. the week that was last week, well, we know when that happened. but nothing from last week until or since june of 2016. tom: very, very smart chart. what we need is some perspective. we are thrilled, as i've said, what a set of guests we have had over the last 10 days. we have try to match people up to drive an intelligent conversation forward. kathleen fisher with ab bernstein, head of their wealth investment strategies, dispensing of aspirin. george bory is at wells fargo were he still has his job. what a week. what was your thought, kathy, over the weekend as everybody try to disengage for 12 hours? >> in all hones

biggest challenges for president xi jinping so this move is seen as preempting what could lead to a lehman brothers tile type of financial crisis but there are concerns about where the line should be drawn when it comes to regulation and those who call this chinese style capitalism where the government is still the guardian of the markets while it's unclear whether this will set a precedent what is clear is that many companies in china which have been going on international buying sprees amassing debt will start taking notes and be more cautious after weeks of pressure australia's deputy prime minister valenti joyce is stepping down but he'll remain in parliament to keep the coalition governments one seat majority the conservative leader campaigned on family values but he's come under fire since it was revealed he had an extramarital affair with his press secretary he faces a separate sexual harassment complaint which he has referred to police. i'd like to say that it's absolutely important it's incredibly important to be a circuit breaker not just for the parliament but more importantly t

last year it was as have enron and lehman brothers and bear stearns were crashing at the same time because there was a record 2 trillion dollars of quantitative easing pouring into the market by put us on our comfy couches. $2 trillion to $1 trillion. and if the stock market is as it's suppose to be, a forward-look mechanism, it's anticipating the doctor will only give half of the methadone in 2018. we'll anticipate that and fall off. we did see the bond market rally today. david: the bond market is in trouble. what happens when the central bank gives up the assets they have been holding. the marketplace is filled with all these bonds. when there is too much of something, the only way you can make it desirable is to raise interest rates. won't that do damage to the market? >> today he had a individually and i was impressed with his poise, and was very articulate. he made the statement, i'm happy the financial system is so much stronger than it was. allen greenspan came to august august 11, 1987. at least he had a two-month month honeymoon before crash day. the question is, is he going to b

there was a lot of pain, a lot of fears one of the things that clients tell me post lehman, what i keep hearing is what am i missing what you see is a gap in process as people freeze they don't say, he know the fundamentals, i'm going to take advantage. they have paralysis through analysis, and they're always asking, what am i missing? that's something we continually see. >> you mentioned we don't have the systemic risk, but let me push back on that. we have more dead than we ever had. that's the biggest systemic risk and that's what people are missing. >> earnings and growth are starting to pick up. so leverage starts to expand. we're still below 3% and if you look at balance sheets, liquidity is really available. we're not going back to the lows you need to sharpen up year pencil you have to step to that and vice versa why does ever pullback have to be. >> where we don't have a lot of corporate debt, and we have u.s. dollar denominated debt globally as that dollar rises and rates rise, that debt gets harter to service. >> that's what you need to be concerned about. >> i do know what y

officers got a tip on austin lehman who was talking about shooting other students he has been chargedthreats. >>> there's no word on what started a huge fire that damaged two dozen school buses in the lehigh valley. the buses that were destroyed or damage belonged to parkland school district in south white hall. when they firefighters got there they found exploding fuel tanks and tires bursting off their rims. school leaders canceled classes friday, but hope classes can resume monday. >>> an 18-year-old turned himself in after this fight in milford, delaware. the happened at smyrna and cape henlopen were playing at smyrna central academy. 18-year-old randy rickert for assault. there are two additional students who have not been identified, but plan to surrender. >>> 935, special counsel robert mueller has a third member of the trump campaign cooperating with the investigation. rick gate joins michael flynn and george popopulous. >> we have the latest from the white house. >> reporter: outside the federal course house in washington, d.c. a dramatic entrance for this 45-year-old former

police arresting and you say continue lehman after they got a tip that he was planning on shooting peoplet keystone job correspond. he was charged with terrific threats. >>> several school districts around the condition are banning backpacks to make the school savers. school leaders made the change at an eastern ohio school are looking to give students extra time to get to classrooms since they have to swap out their books between classes. students will be able to carry small purses and lunch boxes. >> fire officials are trying to figure out what sparktd an enormous -- sparked an enormous blaze in the lehigh valley in the parkland school district in south white hall. the blaze erupted with fuel tanks schoagd -- exploding and tires bursting off their rims. one teenager has turned himself in and police have arrest warns for two additional students stemming from a brawl at a basketball in milford, delaware. fight break out at milford academy. two other suspects have not been identified, but are planning to surrenders. >>> happening today, reverend billy graham will come home to charlotte, no

not being faced so you can have a larger problem than the economic crisis that happened after the lehman shock in 2008 and the effect of that collapse on main street or across the country. they produce the tarp program when it was needed. three months later we had barack obama as president. we lost 750,000 jobs the first year. we were still in danger of going into a depression but we no longer had any cooperation to deal with the problem. president had changed so therefore the republican response had changed. that wouldn't have happened in mansfield senate. it would happened with howard baker, it wouldn't happen with bob dole, it wouldn't happen. >> that leads me too ask the question that you explore in the book, and i think it's so important in such an important observation, you talk about the commitment to make the senate work as a key factor and you just alluded to it were now it's the difference between a collective agenda and an individual agenda. talk a little bit about that distinction and why that distinction is so important. >> mansfield, who i refer to, who reluctantly became s

it was the same day that lehman brothers collapsed. the advantage for the trump administration, it's true, as you were just pointing out. i was told by an adviser this morning, they want the president to keep talking about the economy but not talk about the stock market. it's a very new york-centric thing. but they want him to talk about factories in wisconsin, things in the red state that actually have happened. but there is a long list, but he has been focused and wrapped himself into the stock market and now it's coming back to bite him. >> molly, he likes records. >> the stock market has added more than $8 trillion in new wealth. >> that's pretty amazing. $8 trillion and set every record in doing it. >> the stock market has smashed one record after another. >> the 401 is paying well, the stocks are doing well. >> the stock market is shatter shattering records. >> if you say the fundamentals of the economy are strong and then there's a huge crash, then things look very bad. it does not look like it is heading straight off the cliff

i was calling lehman long before that whole -- >> talking to recession or anything recessionary. trish: right. >> numbers like this now. this is correction. we get these. we've had 1corrections since the '70s. trish: we can handle corrections. as long you're not talking about a systemic crisis that will send us towards a path towards recession. that is not out there, right? >> true. trish: market volatility is good. that gives people a opportunity to get in. you do want people with little bit of trepidation, once it's a party, everybody is back, that is when i get worried. good to be positive. you still need people that don't believe in the market to hold back from getting too far too fast. >> doug makes a very important point. reversion to the mean is very important. we crashed through the 50-day, and 100-day. less than a week we were above the 50-day again. it is not that bad. trish: good, i like hearing that, especially down 200. thanks, good to see you both. >> anytime. trish: do you remember when nancy pelosi said this? i'm sure you do. >> versus the bonus that corporate ame

. >> again, i'm not -- i do not have any kind of expertise or even much lehman's study of the ocean die nat micks and the climate change issues. >> white has suggested that climate science is a hoax to and i quote her here, decarbonize human society. she once said that coal helped end slavery. in a rare moment of sanity, the senate declined to consider her nomination originally in december but now guess what, the president has gone and renominated her. and then there's taylor, a fresh faced 24-year-old former trump campaign worker who obviously was fired from a law firm for missing work but nonetheless, ascended to a top spot at the office of national drug control policy which supports efforts to curb the opioid epidemic. 116 people die every day from overdoses in 2016. 64,000 in a year. one of the most pressing issues the country is facing. he is now stepping down after the "washington post" revealed misrepresentations on his resume. the list goes on. the man in charge of the office of refugee resettlement anti-abortion crusader scott lloyd reportedly discussed trying to use a controve

and chrish with wayne cox and david lehman of the nra. they want to do something. said, fellas, we've got to do something. it's too long now. we've got to do something. we are going to do very strong background checks and very strong. we have to do background checks. if we see a secco, i don't want him having a gun. there was a time when anybody can have one. even if they were sick, they were fighting. i said, fellas, we can do it anymore. there's no bigger fan of the second amendment than me and a bigger fan of the nra. these guys are great patriots and great people. they're going to do something. they're going to do it i think quickly. they want to see it. but we don't want sick people having the right to have a gun. plus, when we see somebody sick like this guy and when the police want to see him, they did not do a good job, but the have restrictions on what they can do. we have to give them immediate access to taking those guns away so that they do not just leave and he sits there with seven different weapons. got to give them immediate access. [applause] don't

i had lunch with chris cox and david lehman of the nra. and i want to tell you, they want to do something. i said, fellows, we have to do something. they're great patriots. they're great people and they want to do something. they're going to do something. and they're going to do it i think quickly. i think they want to see it. don't worry, you're not going to get any -- don't worry about the nra. they're on our side. half of you are afraid of the nra. there's nothing to be afraid of. if they're not with you, we have to fight them every once in a while. that's okay. they're doing what they think is right. >>> all right, lots to break down this hour. our msnbc reporters, hans nichols at the white house, tammy is in parkland, florida. let's talk more about this event with the nation's governors and what president trump had to say. some of the comments raising some eyebrows but give us the context what was taking place there. what else did he have to say? >> he's glossing over the differences while potentially girding for battle. a president i

he worked for lehman brothers. he learned what not to do., when he was 22 years old, now he has risen in the firm. >> he recognizes the market environment and recognizes changes. what did he say about the market environment? >> i think the technical term was -- eh. in terms of volatility. he said it feels pretty normal. one of the things he said was if you look at the economy, it feels very good. business confidence is high. the market had been going up and up. this correction of sorts we have seen seems like it may be good and may be good for people like blackstone who are out buying companies may bring valuations down a little bit. scarlet: he is in the camp of healthy correction. what about the company's growth plans? he outlined a plan. thisey have pointed to idea that there are roughly around $400 billion in assets. they could get to 800 billion. part of what will occupy schwarzman's time now that tony james is still around, john gray is in this new seat, is these new expansion plans. i did ask about how that happens. they have made str

. >> i had lunch with wayne lapierre, chris cox and david lehman of the nra. i want to tell you, they want to do something. i said, fellows, we got to do something. it's too long now, but we got to do something. we're going to do very strong background checks. we have to do background checks. if we see a sicko, i don't want him having a gun. i know there was a time when anybody could have one. even if they were sick, they were fighting. and i said, fellows, we can't do it anymore. there is no bigger fan of the second amendment than me, and there is no bigger fan of the nra. these guys are great patriots, great people. and they want to do something. they're going to do something. and they're going to do it, i think, quickly. i think they want to see it. >> he's pretty upbeat about that. go ahead. >> first of all, isn't it amazing that they had lunch with the president? talk about access to the president of the united states. i mean, i think lots of lobbyists would kind of like to have that access to get in and say, oh, i'm going to have lunch with the president

and so, you cannot have a larger problem than the economic crisis that happened after the lehman shock in 2008. and the effect of that collapse on main street across the country. in 2008, at the end of 2008, the senate played a commendable role in producing the tarp program. when it was needed. senator mcconnell played a key role in that. he was proud of it. it is that i senators and leaders ought to be. then we had barack obama is present. we lost 750,000 jobs the first year. still in danger of going into a depression. but we no longer had any cooperation to deal with. the president had changed. therefore, the republican response had changed. that would not have happened in mansfield senate. it would not have happened with howard baker. it would not happen with bob dole. it would not have happened. >> leaves me to ask a question. you explore this in the book and i think it is so important. such an important observation. you talk about the commitment to make the senate work as a key factor in that period of time and just elude to it. right now it is difference between a collective agen

in 2008 the metastasizing subprime mortgage crisis brought down lehman brothers and triggered a financial crisis. to the guider, two other people went to be with the leaders and they said if we don't act now will have an economy by monday. mcconnell plays a very strong role and he steps up immediately and stands the urgency of it. he helps the senate get the smallest distillation of pass. when the house with the feckless performance rejects the legislation mcconnell goes to the senate floor and guarantees the senate will come through and they do come through in the house we versus themselves and we get the legislation which was sorely needed. he takes pride in it, as he should. three months later january 2009 nothing has changed except there's a new president, barack obama. the crisis has spread from wall street to main street. only government action can make up for an economy that has lost three quarters of a million jo jobs. mcconnell's against anything. new president is more worried about the president's approval ratings than he is about the jobs and the people there losing. he opposes

. >> i had lunch with wayne la pierre, chris cox and david lehman of the nra. they want to do something. i said, fellows, we have to do something. it's too long now. we have to do something. we're going to do strong background checks. very strong. we have to do background checks. if we see a sicko, i don't want him having a gun. don't worry. you are not going to get -- don't worry about the nra. they're on our side. half of you are so afraid of the nra. there is nothing to be afraid of. you know, if they are not with you we have to fight them once in a while. that's okay. they're doing what they think is right. i will tell you. they are doing what they think is right. but sometimes we have to be tough and we have to fight them. we need strong background checks. for a long period of time people resisted that. now people, i think, are really into it. >> joining us now, cnn chief political correspondent dana bash. we hear from the president there is nothing to be afraid of with the nra and sometimes you have to fight back. is there an appetite for it in washington

. >> so this is not like, i don't think it's lehman brothers -- [laughter] you know?ront on that prediction. >> yeah. liz: thank you very much. we're looking at berkshire hathaway. boy n24 hours -- less than that, we're going to get the release of the most anticipated shareholder letter that every investor in the market reads or should read. what will the oracle of omaha have to say? well, don't wait til tomorrow. wall street veteran mike holland worked with the oracle. he's going to read warren buffett's mind ahead of that release next on "countdown." don't go away. ♪ ♪ . . . . ♪ liz: you might want to set your alarm clock for 7:55 a.m. tomorrow as the dow jumps 319 points, the markets are on fire right now. it's warren buffett who will release his annual newsletter to berkshire hathaway investors, anyone else who wants to read it by the way. 8:00 a.m. sharp it comes out. the company is planning to release its earnings. it is on track for the worst month in nearly eight years. bet buffett is not worried about that. our next guest used to be chairman of the company th

from a lehman's perspective with the russian memo investigation, the partisan politics of who russiad our relationship with them, it's gotten a lit. muddy. i want you to spell out who russia is when it comes to the syrian crisis, their role and how our relationship continues. >> there are jens running on the ground, russia responds to their guidance. assad's forces. iran motivated the russians. they motivated the russians to intervene in the fall of that year with air power. why are the russians in syria? eboni: what do they get out of it, jen. >> they're in syria because they want a strategic foothold in the middle east and it's critical for them. they've got arms deals going with the arabs. they want to deal nuclear power plants and what they're about is trying to replace the united states as the most influential country in the region that's outside the region itself. that's what they want. and the geopolitical influence that comes with that. the fact that they backed up an ally who is assad gained them significant representation in the region. people don't like the russians but th

canada took gold in the men's ski cross competition brady lehman went skating skiing with switzerland's market push off burger after the other two competitors in the final collided early on on the way still top the medal table in germany and canada are a second and third respectively still more golds up for grabs on day twelve of the games but the man is u.s. ice hockey team won't be getting one the czech republic beating them three two in a shootout to advance the semi finals and face the olympic athletes from russia next. you lose one game in regulation and i don't think you're disappointed wondering what's wrong with your hands i think you proud of what your players did you proud of how we put this team together and sometimes the results don't always indicate exactly you know what you think your team and i take this team to go to battle against any team anywhere any ice surface love our guys how hard they play how they competed represented our country and. that's probably. gulf now in usa ryder cup captain jim sheridan has confirmed tiger woods will be a part of this year's event as

canada two gold in the men's ski cross competition brady lehman went ski to ski with switzerland's market push off burger after the other two competitors in the final collided early on. the united states won a cross-country skiing medal for the first time and it was a goal they clench the women's team sprint for advance norway to bronze and that meant that a march on your in became the most decorated winter olympian of all time with her fourteenth medal noway won the corresponding men's event to take their gold medal tally to thirteen they're top of the table in germany have just won gold in the women's bobsled they are second canada the now the lens and the u.s. a complete top five. the men's u.s. ice hockey team won't be winning gold at these games the czech republic beating them three two in a shootout to advance to the semifinals will face the olympic athletes from russia next. it is one game in regulation and i don't think you're disappointed wondering what's wrong with your head i think you proud of what your players did you proud of how we put this team together and sometimes the r

. >> share price continue to tumble in the termath of the lehman collapse. >> reporter: it was mycuritization that brought the global econoo the brink of collapse almost a decade ago, mortgage-backed securities flooding the housing market th easy money, driving prices up and up. orin the movie "the big sht," a jenga tower helped to explain. t and then that hap >> what t? >> that's america's housing market. >> what i saw dung the financial crisis made me sick. because i sahuge amounts of money being completely destroyed by bad decisions, bad risks, bad business models. we didn't have the crisis betuse those techniques did work, the crisis occurred because those techniques, they werked way too well. these are ul tools. bnance is the ultimate tool for crowdsourcing, ang able to pull together large amounts of resources for focused purposes. >> reporter: lo wants to e securitization for cancer cures instead of liar loans. his ideal rtfolios would be financed with both equity, for the big risk takers like hedge funds, and debt, for the risk averse. >> they want to take their money and earn maybe a

the monetary policy in the united states at the time these problems were developing, and lehman was getting boxed into a corner was way too tight. we had a huge appreciation of the u.s. dollar. the dollar was soaring at this time, suggesting monetary policy was too tight. so if we go to the second slide, how do we fix this? well, we fix it, , the second slide i like to call my -- because bob mondale as a group of friends and associates visit him every summer outside of siena and the group usual suspects including former central bankers such as paul volcker is a steadfast member of the group. talking about stability. stability might not be everything that everything is nothing without stability. in general, ticket with regard to exchange rates. so here you go up at the top, you can see that he quit up there when the dollar was very weak and then we had the summer of 2008 where the thing appreciates massively and comes down. that was a big move on the first slide that i had. it's out of this range of 120-140. when it's above 140 it's very weak and when it is below it is extremely strong and t

markets, but it's certainly not large enough to be systemic everybody wants to think, what's the next lehman brothers moment. when i look around the world, i don't see that type of excess that has built up in the system. if people were to ask me what do i worry about, i worry that we may become too concerned about inflation before it sustains itself over 2% for a long period of time and could bring forward fed tightening to the point where the ten-year treasury rate says now you've tightened too far and start to flatten or invert the yield curve and the dollar strengthens if that type of environment were to happen, then i would be more concerned about markets. but a look around the world right now, i don't see anything that i feel would be a systemic risk to bring down global markets. >> and jeff, brian alluded to the fact that we're no longer worried about deflation, it's inflation. it seemed as if the markets this time, after they bottomed a little bit here or started to rally, we are starting to talk about four interest rate hikes again from the fed here, or at least a 25% chance of that

. >> i mean listen, we have spoken a lot since you know the lehman crisis where i spent you know a fewthis is not that type of crisis this is not where on a one directional down trade everyone should be nervous that type where contagion coming this is a opposite you have a balancing equation right now between the bears and you bulls we spoke about between a regulating raising rate environment versus very good corporate earnings and growth the question is who wins, and we have not seen a rising rate environment for decades when i started in 80s we were 12% we have been one directional, you know for three decades, so at the end of the day we will be in an environment where we are not sure who is going to win it feels to me that short term short term because of he tax reform corporate profits in global growth will outperform for the equity market versus a rising rate environment how it feels but there is going to be incredible volatility. >> i agree with that what i will say going back to your initial point about this isn't lehman brothers days, we have credit availability actually spread

i had lunch with wayne lapierre, chris cox, and david lehman of the nra. i said, fellas, we got to do something. it's too long now. we got to do something. we're going to do very strong background checks. very strong. we got to do background checks. if we see a sicko, i don't want him having a gun. i know there was a time when anybody could have -- i mean, even if they were sick, they were fighting. i said, fellas, we can't do it anymore. there's no bigger fan of the second amendment than me, and there's no bigger fan of the nra. these guys are great patriots. they're great people. and they want to do something. they're going to do something. they're going to do it, i think, quickly. i think they want to see it. but we don't want to have sick people having the right to have a gun. plus, when we see somebody as sick like this guy, when the police went to see him, they didn't do a good job, but they have restrictions on what they can do. we got to give them immediate access to taking those guns away so that they don't just leave and he sits there with seven

in 2008, the metastasizing subprime mortgage crisis brought down lehman brothers and triggered a financial crisis. henry paulson, ben ber thanky, timothy geithner went to the hill to meet with leaders. if we don't act now, bernanke told them, we won't have an economy by monday. mcconnell plays a very strong role. he steps up immediately. he understands the urgency of it. he helps the senate get the legislation prepared. when the house in its feckless performance rejected the legislation, mcconnell goes to the senate floor and guarantees the senate will come through. and they do come through. then the house revers uses themselves and we get the t.a.r.t. legislation that we sorely needed. he takes pride in it as he should. three months later nothing, january 2009, nothing has changed except there's a new president, barack obama. the crisis spread from wall street to main street. and only government action can make up for an economy that's lost 750,000 jobs. mcconnell is against anything. there's a new president. he is more worried about the president's approval ratings than he is about the j

i had lunch with wayne lapierre and david lehman of the nra. they want to do something. i said, fellas, we have got to do something. and we are going to do very strong background checks. very strong. we are going to do background checks. if we see a sicko, i don't want him having a gun. there was a time when anybody could have one. even if they were sick they were fighting. i said, fellas, we can do it anymore. there is no bigger fan of the second amendment than me, and no bigger fan of the nra. these people are great people and they want to do something. they are going to do it, i think quickly. we don't want to have sick people having the right to have a gun. when we see somebody sick like this guy, when the police went to see him, they did not do a good job. they have restrictions on what they can do. where going to give them immediate access to taking those guns away so they don't just leave and they sit there with seven different weapons. got to give them immediate access. [applause] you won't -- don't worry about the nra. they are on our side. half of you are so af

believe they didn't figure this one -- because i had lunch with wayne lapierre, chris cox, and david lehman of the nra. and i want to tell you, they want to do something. and i said, "fellas, we got to do something. it's too long now. we got to do something." and we're going to do very strong background checks -- very strong. we got to do background checks. if we see a sicko, i don't want him having a gun. and, you know, i know there was a time when anybody could have -- i mean, even if they were sick, they were fighting. and i said, "fellas, we can't do it anymore." and there's no bigger fan of the second amendment than me, and there's no bigger fan of the nra. and these guys are great patriots. they're great people. and they want to do something. they're going to do something. and they're going to do it, i think, quickly. i think they want to see it. but we don't want to have sick people having the right to have a gun. plus, when we see somebody is sick like this guy, when the police went to see him, they didn't do a good job. but they have restrictions on what they can do. we got to give

come this , stepping back from looking at midpoint lehman brotherses, can we draw a line into how this might be securing elections? >> well, this is a big problem for the u.s. officials from 50 states were briefed this weekend by homeland security, the and intelligence services, on threats, potential what they can do to secure their elections. but you have to keep in mind the elections are run by the states. all 50 of them. oversight offederal that. they choose their methods, their eans, and the best the u.s. government can do at this point is provide some advice and protection and warning. >> i want to switch gears really quick before we let you go. a couple of hours ago president trump made a move on gun control he's going to address bump stocks. tell us about this and what he talks about. >> right. are the devices that are attached to semiautomatic rifles an onvert them to fire like automatic weapon. las vegas sed in the massacre, and there was some talk at the time about regulating them. so he's asked the attorney eneral to draw up some legal framework that would classify those mod