can take store if you're taking level move on to that one was in a munich auction to him in 2015 lehman was a professor at the university of holla and also keeping a close eye on antiquities that came onto the market, each listed for a considerable sum, screwed up class. prices started around a 1000000 by whitening they own on the months research often took him to switzerland and important center of our trade. the city of bozza was then home to coast of leon and our dealer, an archaeologist, with over 40 years of experience who had sold many antiquities to international museums. in 2015 leon decided to do something unusual for an art dealer that he opened up to us about what he was seen at international options. this in the past, it's only a few of these pieces, a genuine ink for let's go through them quickly. right. this is a fake, as we'll see how blurry it is now it's called through in antiquity was like that big scoop to meet those kinds of a guessing kind. and no secret from antiquity looks like that. ok with those big bulging eyes. it's a joy. can that be those into closer look at

the archaeologist stefan lehman has spent the last 20 years researching fake antiquities. we 1st met him in 2015 when he was still working at the university of holler in germany. here he was just finalizing a catalogue listing suspicious bronzes for publication. the artworks had come from auction houses, galleries and art dealer's as many had been laundered onto the market by robin symes, the art dealer authorities also sees the alexander bust from lima and believes the bronzes are forgeries, the works of an expert forger or forgeries known in art circles as the spanish master. their identity remains a mystery to this day. the spanish master often makes bronze is of ancient rulers, like emperor augustus. their faces are covered in a convincing path now and so well preserved. it's almost a miracle falling. so must, the north number kind of vanish. monster is just to make shifts name. no one knows who they are or where they're from. it's a name. i've heard a lot in the trade. so the police one was an abundance auction. these head came from robin signs and was on sale in new

quickly -- >> the lehman trilogy. it is this incredible play about the brothers who founded lehman, which was intrinsic in the stock market crash of 2008 and 2009, and it travels back to the 19th century, and it is about how they built this bank, and it is just a brilliant piece of theater. >> we are going to leave you with a glimpse of the play on london's west and -- west end. thank you so much. it has been a pleasure to have you. "blonde roots" is out in french this february. >> your father, founder of the day, and you want to turn it into a club of financiers. the bank is open to everyone. the world is outside of the market. >> quite the reverse. the world is the market. >> well, i have a problem with it. >> they are known for their cuisine and saying hello with a kiss. they only work 35 days a week when they are not on strike, that is. every week, florence tears apart stereotypes. join us for insight into french culture and current events to understand what makes the french so unique. >> "french connections on fr

some are fearing a lehman moment in the country's financial system. fundamentals looked worse and worse. the country announced a second rate cut in three months, and chinese evergrande files for bankruptcy protection last night. my next guest says, take a deep breath, the concerns are all a bit overstated. all right, nicholas, welcome. give me some context here, what is your reaction when you see china head into a possible lehman moment here? >> i think it's a bit overdone. they had 6.3% growth in the second quarter. and i think the economy is doing reasonably well. they have some difficulties coming out of the covid recession, but there are a lot of positives here. imports are growing stronger than they were a year ago, which suggests underlying demand is bigger than a lot of people are saying. people are talking about inflation, but if you strip out food prices, consumer price inflation in july was up at a substantially higher rate than in june. so a lot of the things that people are pointing to could develop, but i think at the moment, it's prematu

i mean, because that happened the weekend before lehman and then, you know, two weeks later that the whole thing was falling apart and tarp was proposed. so let's go back to politics and. this is another question from one of your friends here. do you think that reelection weighs heavier on the minds of congress than the catastrophe of defaulting on the debt? well reelection is very important to every congressman and senator and president and and so it weighs very heavy. i don't know whether really understand the implications defaulting on the debt. you just don't know when you listen. some of the statements they make. but, you know, again, may be just pure politics, but yes, reelection is important. but if we default our debt, there's going to be hell to pay. and many of them might not get reelected. so a final concluding points you did with every great husband. do you dedicate the book to your wife who is here so he could stand up. i don't want to embarrass, but where's the name come from? her name from when she was a baby, she chirped. and so her father called her cricket and she n

how can they are lehman brothers moment be averted? that's a good question.fiscal local government fiscal problems, anywhere else in the world there would be a lehman brothers moment. i have to say that the chinese government has a very very different political system, let me just give you an example. we see that u.s. big banks have been rushing to sell their long sales to commercial real estate projects. in that way, like in china, they will just pretend to extend basically. if the property is no good, we will extend it. local government bonds, it's ok, we will extend that way, nonie does a fire sale and know what he any of their books, and they continue on. that is why that happened recently kicking the can down the road and rolling the ball bigger and bigger until the next decade, i guess. >> is that why you are arguing your latest opinion piece, you are actually telling your opinion piece, china needs its own lehman moment now? is this why china needs this sort of scary echo -- scare? >> i think they do need to stop attending and extending. let me give an

as the guard put it, if it had been lehman sisters rather than lehman brothers, the world might welllook a lot different today. this is bloomberg markets today. i'm anna edwards, live in london with tom mckenzie. mark cudmore, our markets live managing editor, joins us from singapore to take u

cut in ethnic violence, it's the women who are thought of being 5 get that because that childless lehman, i feel that they pay the highest right is because they are being correct. they are being mother. they are being sexually assaulted, the cookie community would choose up the dead on this wall. men and women, young and old. in the capital in fall, women from the majority of the community, like this many see the cookie. people do that as there is drug dealers. grants, they have heard about the sexual attacks on cookie women and claims that some of your own had dated out those effects, which they denied as the woman, i feel sleepy for them, but it is a war. the current situation off money is being war is going on. so that's all these are, you know, it was, it was totally wrong concept. back up in the mountains city side, distressed and displaced, she reached alone for the body of her daughter and for some kind of justice. that was very striking uh those comments from the made a woman in the report. we have journalists to our, our vala, joining us. she has covered at the country's ne, for

and yet we are not facing a lehman moment.k and not a property developer. nonetheless you have these huge property companies no one thought would collapse three years ago, collapse. yet the system is not failing. similarly for the banks, i don't think the banks themselves will collapse. these local government financing vehicles are not really banks, they are more like investment companies that borrowed from the banks. but they have been fueling a lot of the bubble in the property sector and there are several hundred of these. i wrote about them extensively and visited a lot over the last decade or two. they are the ones who are very risky and sitting on the balance sheet of a lot of regional banks because of the lending and that is what i am really worried about. because we are not very transparent it will not be the same as lehman. paul: is the pboc going to end up having to backstop all of this? if so, when you see that happening? andrew: the pboc does not want to do that. they have been very strict about deleveraging in the

i mean, as far as i understand, that the first you know, the bitcoin was launched just after the lehman bust. it was it was launched, you know, the justification at the time was the central banks printing a lot of money and and therefore the crypto might be the way forward. i think the problem is that the crypto currencies became the greatest and the bubble in cryptocurrencies was the greatest symptom of the monetary of the monetary disorder of. last 15 years or so. and without getting into huge debate on the subject, for my mind, the cryptocurrencies don't at least currently constitute looted have sufficient number of the attributes of money to to to to to actually in attach to succeed. and instead of just really being a barometer of speculation. but that isn't say that at some stage a type of digital currency couldn't establish itself and and therefore, you know, as i say, remained one of the of the type of complete private currencies or money that that hayek advocated in the de nationalization of money. i mean, i've done a lot of work on specter bubbles, and one tends to sort of laug

the book so often kind say the lesson of lehman brothers. my lesson, which i think is a bit counter conventional wisdom, is that if you lead an entity to believe will be rescued, it will reject offers to be assisted in. for instance, we know leading up into 2008 that lehman brothers had three separate offers to bought and each time it said no, we won't take anything less than bear stearns got. so you created this expectation of assistance and it made the crisis worse. so i'm happy to say and i don't name names in here, but anybody who wants to google a little bit can figure out who i'm talking. in the book, they were two large servicers who had private equity parents that had pulled literally pulled billions dollars out of these entities in 2019. and again, i have nothing. investors taking returns on their investment, but if you come after you've taken that return and take money out and you come to washington and say, oh, we'd like the government to put money in, then i'm going to be a little more skeptical. and so these were instances where

preocupa son los incendios que se van estar presentando todavÍa en el norte, en washington y oregÓn, lehmanbado83 el domingo, prÓximo miÉrcoles regresan frÍo >>> 83 estÁ muy agradable, para adaptar a una mascota >>> bueno muchas gracias, vamos otra informaciÓn, los precandidatos republicanos se vieron las caras en el primer debate y votaron chispas como entre los temas que causaron controversia, pero que todos estuvieron de acuerdo es en la necesidad de tener una polÍtica migratoria mÁs dura, vamos con randy serrano que nos trae la Última informaciÓ. >>> si termina el debate, en milwaukee esta noche,ataques directos los precandidatos que aspiran a la casa blanca >>> entre los temas principales como la economÍa, los precandidatos acusaron el presidente joe biden de la inflaciÓn, pero la Única mujer en la tarima llegÓ el pe bajÓ su propio partido. >>> diciendo que los republicanos tambiÉn tienen la culpa para probar miles de millones de dÓlares durante el covid-19 los republicanos sostuvieron estoy de acuerdo. tambiÉn se pro del cambio climÁtico solamente dos candidatos aseguraron que no apoy

dominance is slipping but will china have a lehman moment on its way to superseding america? peter st. onge is with us on that. going public, the list is getting longer and longer. we have sarah kuntz to break it all down, because guess what there will be good names out there but some bad ones you want to avoid as well. you don't want to miss "my take" on this headline, old people are the worst. really? all that and so much more on "making money." ♪. charles: all right. we're holding on to gains grudgingly. at this rate we could give it all up. nevertheless a good start to the week but there is still so many unanswered questions out there and contrarian investors might like the market now because we're actually heading what is typically the weakest month of the year. this is september over the years. you can see the last few septembers have been absolutely horrendous. everyone is kind of worried, everyone is kind of anxious about that. another thing that contrarians may want to leap on the fact that retail investors, main street investors returned to a bearishness. you see th

dan: i went to work for lehman brothers. david: so you were an investment banker.g did you do that? dan: three years. david: then you went into the higher calling of private equity, right? dan: a firm that became oak hill partners. david: so you did that for how many years? dan: 14. david: all right, so how did you become close to, or get to know mike bloomberg? dan: it's actually a funny story. so, back in 1994, i was sitting in the stands of the world cup semifinal game out at the meadowlands in new jersey. it was italy versus bulgaria. a friend literally dragged me to the game. i didn't want to go. it was like 100 degrees. we took the bus. it took forever. but i walked into the stadium that day and i thought it was the most amazing sporting event i had ever seen. everyone was painted in bulgarian and italian colors. you couldn't sit down. so i was standing there through the match thinking to myself, you could play this game in new york with any two countries in the world and it would feel exactly the same. and then i started thinking about the olympics, which i

companion for the dying, which means that i'm always standing at the crossroads between life and death lehman. i've been doing this for 7 years now and i have to feeling this way cuz put way more intensity to how i'm living. because without death, that's no life and also stuff along. on top of that, i've also lost in siblings. so death is always played a big role for me. and then with my grandfather, goose i was 11 when he died and saw this decline, the other really alive man. so did so many things changed within just 2 months. i was there for all that. so that's been my experience with that so far. how you say you were at the funeral to be adding home about i was at the funeral and i saw him for the last time for the 2 weeks before he died, i visited him for the last time. it was already pretty far gone. he'd regret a lot, he talked about his mother. he didn't really recognize any one any more, but live and still present somehow. or why his own grief helps us to see feelings more clearly. i'm sense most subtle and you always get me because again, with the death of a person so grief, all the

progress. >> i am delighted to be in conversation with the secretary of civil rights, catherine lehman. welcome back. to start us off, tell us what the office of civil rights do at the department of education. if you justice -- >> give you justice. -- they emphasize vigorous i -- emphasize -- i emphasize vigorous. we were created by congress after the 1954 civil rights act was passed in congress created our office to enforce that short proper -- promise that no person shall experiences formation on the basis of race and national origin in public foundations and since that time, congress has added additional jurisdiction basis on our charge. we have disability this cremation and age discrimination, are big topics. we have 12 offices around the country and 600 staff dedicated to enforcing federal laws and our mission, our charge is to investigate whenever we have information that the law has been violated is a frequent occurrence for us. i can hear you but i think the rest could not. [laughter] we take seriously that no person should experience discrimination and we try to move as quickl

lehman says, but often the middle often surprisingly that isn't always. that's within line one's as we discovered and somebody lot of this machine is blending polyester and gotten to its diploma fabric. but the story is to try it on me directly from petroleum. it's sourced from the cycles be the buttons fit board is an engineering plastics. ok, how you may be squared less taking offence when you stretch it. i get a 5 minute red borders of data plenty. so why not? they make a 5 or 10 waters. india alone consumes $1400000.00 tons of be plastic every year. along with that comes with responsibility to handle that plastic waste and an efficient manual sheet and got all the most located at code in the south indian state of the gunboat speed the bought was to f as is it all starts with the rack because we collect the boxes and give them to an agent. the agent converts these borders into stack compress plastics, which i have at this crushing facility the every month because $800.00 tons of the plastic b, b. d bought those go to various pages of sorting, slip be b

and who did everyone come running to up to lehman brothers went bust to the 20th a price is not the g $7.00 because it was the crime was committed for which settlement advocate settlements were made. were in g 7 countries, but it was a g. j a n d meeting that really came to the forward to try and desperately save the from the predatory capitalism that includes worldwide recession and slum. so absolutely, i think the, the, it's clear that the g 20 is more representative and i should just say a british engineer walks fans of the g $70.00 is the global south, 13 trillion dollars in development in climate assistance. so actually the g 7 wouldn't be the g 7 if they did use. what would you 7 do, is the daily us for deaf debt from the 4th countries in the world, at a rate of $232000000000.00 a day in refigured debt, but saving to call the trillions they owed for what they've done to the developing world countries, they wouldn't be g 7, they wouldn't be the 7 most powerful economic countries in the world. they'd be debt to even more designations than they are now. a. yeah, excellent point on

things, commanders and soldiers for conducting successful offensive operations in the cross need lehman area. one of the commanders presented a swedish infantry fighting vehicle recently captured in battle. donald trump has been released from court under strict conditions after pleading not guilty to charges of attempting to overturn the outcome of the 2020 presidential elections are 2, corresponded rachel blevins reports. the former president faces for selling the accounts, including conspiracy to defraud the us government and conspiracy to have struck an official proceeding. now the most serious chart here carries a maximum prison settings of 20 years. but trump is accusing the u. s. government of trying to put him behind bars for up to 500 years. that's because this is also the 3rd time that trump has submitted a not guilty plea in less than 6 months. he's also facing charges in new york, a falsifying business records during his 2016 presidential campaign, and he's facing 40 felony counts in florida, where he is accused of a legally retaining classified documents at his estate. notab

your st commanders and soldiers for conducting successful offensive operations in the across the lehman area. one of the commanders presented a swedish infantry fighting vehicle recently captured in battle, drawing attention to the lack of spare parts and tools supplied by western countries in armour, vehicles, making it impossible to carry out repair work in combat areas. russia has called out the west for exacerbating food and security in the global south. the message came during the latest you and security council meeting with moscow's deputy envoy accusing the you of hypocrisy when it comes to the food crisis. as the world deals with disrupted supplies and higher prices, brushy is now approaching vulnerable countries with bilateral offers of grain shipments a discounted prices, pretended to solve a problem, it created itself. this is a cynical policy of deliberately using the food as a weapon to great and you dependencies by accessor, bit an economic vulnerabilities, and a global food and security. what's the use your colleagues from developing countries do not flatter yourselves be

in lehmans terms, how do you reach that prediction? how has that figure arrived?d? ,, . ., ., , arrived? the specific observations we have made _ arrived? the specific observations we have made as _ arrived? the specific observations we have made as part _ arrived? the specific observations we have made as part of- arrived? the specific observations we have made as part of the - arrived? the specific observations| we have made as part of the study arrived? the specific observations i we have made as part of the study is that four out of five colonies have failed. that's the first time we've seen a loss on this scale of individual colonies failing. in terms of looking forward, it's hard to predict what will happen to sea ice and how penguins may respond but this study provides the first empirical evidence that widespread failures are happening. so we could be looking at an example of what the future antarctica will look like. and explain why sea ice levels are so crucial for penguin colonies. emperor penguins are almost completely dependent on sea ice is a platform

i'm watching as a lehman. you're watching as an expert. what are you seeing here? >> i'm seeing the same thing. it's a significant episode of freezing. you think of someone as light-headed, they might want to sit down. they're not frozen, per se. this is frozen, both in speech and in body and in his hands. if you look at the video, his aide comes over to him and tries to take his hand and clutching the sides of the lectern very closely. the same thing, there's a long list of things that could possibly cause this. you know, is it a slight, what they call a t.a.i., a transic attack. could it be a parkinson's like thing. if your medication way off. but the aides, they let him continue answering another question as you saw there. they didn't seem that surprised by this. we saw this in july. but they've become accustomed to dealing with this. my thought is his doctors know, as well. this is an unusual thing. he should be seen right away. but that doesn't seem to be the case. there may be some knowledge of what's going on here already by the doctors and aides. >> what do

i don't see worries about lehman-style collapse the first time around with evergrande, but this issuethe chinese property market has been an enormous drag on growth for china. the other element to keep watching is whether we see social unrest. after evergrande default it, we saw this wave of boycotts on payments. that prompted beijing to step in and ensure houses were delivered to people who bought them. country garden has four times as many projects as evergrande. the bulk of those in lower tier cities, so there is a lot of potential for homeowners to be impacted. that's where we will see beijing focus its attention. it's unlikely they will go in with direct liquidity support. they will be worried about managing that social unrest element. dani: rebecca, i feel like the market reaction is telling. i know we're in the doldrums of summer markets. sentiment was bad around property developers, we would rally. maybe it is bad enough that we get government stimulus. then we hear about this reshuffling of local government debt, but it doesn't as wage -- assuage investors. have we thrown in

support growth in economy don't worry about downgrades rating agencies gave aaa to toxic assets by lehman brothers i want to know why can't the fed stop doing what is destroying banks keeping them from lending the fed sets the interest rates the banks have to pay depositors when fed fund rate zero now highs not seen more than 22 years banks simply can't write enough new loans fast enough to stay profitable silicon valley bank didn't hang itself in cell fed killed it insisting raising rates again downgrades just beginning. maria: look. dick bove send me a note said explanation why bank stocks are in trouble doesn't have to do with commercial real estate it has to do with capital. so he is worried about capital the banks are holding you say you don't care about banks but underlying issue is credit tightening? >> yeah who, the capital requirements fed same drivewayed ability to do business raising cost of funding more than 5% in a little bit more than a year taken banks out shot them now commanding corpse banking system to raise more at stocks prize, absolute madness. >> at this point we wil

why didn't they do their job andow these were not weak peopl, they had the means like roosevelt, lehman, low wire. what were they doing and why did they let him doou what they did. he lost all his power with nelson rockefeller and quite honestly, and john lindsay. and if the deal that was made, just so you understand what happened, it's quite an interesting story while he was out of town literally on vacation out of the country, the deal was made at the core of his power was ripped away given to the mta and that's how the mta was created and for that the subway system was taken away from new york city with john lindsay's permission because he didn't have the money to maintain the subway system so that is how the whole thing was put together so by the time moses came back, he didn't have a job and if there was nothing d he could do about it and it ws nelson rockefeller with john lindsay who was able to get that done but had to do it when he was out of town so finally somebody said enough of this. >> they should have shoved him out of town earlier. [laughter] >> and thank god they didn't

we�*ll go to lehman manchester any moment. remove right time? something that sir bob neill wishes mentioning. another, if people are bring guilty they must be made to face court, how can we expect people to take responsibility and acknowledge the harm done if we don�*t make them face the reality of what they have done? it allows those harm to feel justice what they have done? it allows those harm to feeljustice has been done and encourages the guilty party to see the damage caused may be begin to face up to their crimes and make in themselves. let�*s have a word with dave in plymouth, lehman manchester, good morning both. i think liam has dropped off. dave, what are you thinking when you�*re of this? what are you thinking when you're of this? ~ ~ what are you thinking when you're of this? ~ ,, ., , what are you thinking when you're of this? ~ ~ ., , . , this? well, i think any civilised country that — this? well, i think any civilised country that we _ this? well, i think any civilised country that we should - this? well, i th