on september fifteenth two thousand and eight the death of lehman brothers the fourth largest u.s. investment bank marked the beginning of a huge financial and economic crisis that would spread worldwide. the likes of it had not been seen since the great depression of the thirty's a wave of corporate bankruptcy was followed with considerable loss of jobs. to people blame the bankers like here in iceland where eighty percent of the banking system collapsed and even more so in greece where the state teetered on the brink of bankruptcy. with the crisis of public debt skyrocketed as did household overindebtedness a veritable scourge that would affect one person in twenty in europe especially in the u.k. . five years ago me and my husband split up. i actually kicks my husband out and miss out a big impact on my children so i think i fell at the time then i had a lot of making up to do to them and at the time i thought that the way i needed to make up to them was financially so i would just throw money at them and christmases i would go ridiculous find ridiculous amounts of money like th

darkseid street at this hour the lehman brothers investment bank of the year is heading toward bankruptcy in two thousand and eight the poorest homeowners unable to meet their mortgage repayments began to massively sell off their properties the real estate market collapsed and along with the banks who become embroiled in these subprime loans. on september fifteenth two thousand and eight the death of lehman brothers the fourth largest u.s. investment bank marked the beginning of a huge financial and economic crisis that would spread worldwide. the likes of it had not been seen since the great depression of the thirty's a wave of corporate bankruptcy is followed with considerable loss of jobs. people blame the bankers like here in iceland where eighty percent of the banking system collapsed and even more so in greece where the state teetered on the brink of bankruptcy. with the crisis of public debt skyrocketed as did household overindebtedness a veritable scourge that would affect one person in twenty in europe especially in the u.k. . five years the guy me and my husband split up. i actu

until the day the bubble burst this has been a historic sunday asked at this hour the lehman brothers investment bank it appears heading toward bankruptcy in two thousand and eight the poorest homeowners unable to meet their mortgage repayments began to massively sell off their properties the real estate market collapsed and along with it the banks who become embroiled in these subprime loans am on september fifteenth two thousand and eight the death of lehman brothers.

on september fifteenth two thousand and eight the death of lehman brothers the fourth largest u.s. investment bank not the beginning of a huge financial and economic crisis that would spread worldwide going on the likes of it had not been seen since the great depression of the thirty's a wave of corporate bankruptcy is followed with considerable loss of jobs. am people blamed the bankers like here in iceland where eighty percent of the banking system collapsed and even more so in greece where the state teetered on the brink of bankruptcy.

it was after the sale of lehman brothers.the ability reinvent himself in the asset management or investment management business. and if he is -- again, this is hypothetical. if he is bumped out of the white house, i would not be surprised if he did it again. scarlet: he has a knack for reinventing himself. erik schatzker and marty shanker , thank you for joining us on this fast-moving front of the oval office and its members. julie: let's take a break from politics and get you caught up on the markets. abigail doolittle has more. abigail: we have the dow as the only average that is trading higher. the s&p 500 slipping between small gains and losses. the dow all day has been higher. the nasdaq pretty decent divergence there. the bank really helping the dow -- tech dragging on the nasdaq. let's take a look at oil. oil recently moved back above the $50 barrel mark. and right now, above it by $.19. it's not clear what behind it from a fundamentals and point. but it is worth noting -- from a fundamental standpoint. is worth noting

but given what happened in 2008, and you know the collapse of lehman brothers and the run on the bankhe old—fashioned bank that's been there for hundreds of years because you believe it will get bailed out by governments if things go wrong and your savings will be 0k. go wrong and your savings will be ok. but monzo bank maybe not? well, the changes that were introduced as a result of those two big to fail banks rbs and lloyds, which cost the taxpayer tens of billions of pounds in bail outs. the government responded by saying actually we want more banks with more competition so if one or two fail, that's ok. that's a sign of a well functioning market and the way we will protect consumers is the financial services compensation scheme. so your deposits are guaranteed up to £85,000. that's the hassle though. it is easier if you're bailed out by the government and your savings is not touched? i'm not sure as an economy we can afford another £47 billion bail out. i'm not suggesting we go that way. we talked a lot about the uk and clearly with europe pds 2 will change how we bank. what plans

but 25 per 30 years later they are tied for the of fluctuation in the stock market news twa and lehman brothers. swire the company's so fragile? but the cities are so resilient? so to understand that everybody understands what the hell happened here? that was too close to home. generated by cities so they are the origin of these problems but there also the solution precisely because is debris in the smartest people that are attracted to cities with all the great wealth that is created in the urban environment. so now i will switch gears and talk about biology i'm using it because it is a large part of the book but also a segue back into the city also what do you mean as daylong discussion but on that quantitative side it would be wonderful to the extent you can calculate anything so for example, in no the motion of the of planet of the degree of accuracy that we can do that because we've understand that a great detail so not only with that city work so in physics that is the cross screen description in and of question whether the part of the book talking about aging and mortality so it is in an

but 25 per 30 years later they are tied for the of fluctuation in the stock market news twa and lehman brothers. swire the company's so fragile? but the cities are so resilient? so to understand that everybody understands what the hell happened here? that was too close to home. [laughter] so this is what is discussed in the book so the book by the way i tried to put all the equations into english so you could read it and understand it so one of those amazing things is that despite the fact to live in quite different environments of the elephant if there is anything you could measure about them or anything about the i'd like history how long it takes to richer -- mature but just to give you an example age your metabolic rate or how much food you need to eat to stay alive so here is how much you need to stay alive because if you put a mouse on the table and you put it on a linear plot so putting it up by the factor of 10 you go by the factors of 10 but then something remarkable appears with extraordinary irregularity with this process that potentially is the most complex phenomenon and furthermor

we lose the twa, lehman brothers and so on. why is that? why are companies so fragile in human beings and organisms regularly fragile but resilient? we understand that. and we want to understand this -- what the hell happened here? all too close to home. i don't have time to discuss this but this is what is discussed and i tried to get us understanding. the book by the way is non-technical and i tried to put all the equations, so to speak, which are implicit into english so that by mom, in principle if she were still life, would be able to read it and understand it. one of the amazing things about organisms, about us, mammals, is that despite the fact that they look different and live in quite different environments, the whale in the ocean and the elephant with this long trunk, we are one of those. in terms of anything that you can measure about them, physiological parameter and i'll show you some in a moment. you can measure about them or anything about their life history like how long will they live; how many children do they have and so

or what happened with of lehman brothers bankruptcy?ose stories would be similar so then you take a the common thread it is always up process when you figure out what is going on you will never get all whole unvarnished truth but you have to put it all to gather and read as much as possible. >> host: are you into podcast?. >> i may be starting one soon. it isn't quite ready but i am thinking about that. is cool and then the way to communicate with your audience and allows you to do a song different stuff with the work that i do it is pretty tough to do comedy or book reviews and i think there's a lot of interesting things with that. >> host: middletown new york. >> caller: afternoon. i have a question and i could touch on just about every single thing but first your dad was my news guy. the first 25 years of my life. i spent many years in manhattan brooklyn but you are definitely your father's son. but this last caller from the nonprofit radio what a caller 80 years old still kicking tail the you were mentioning you were at a trial and

the last time was december 2, 2008, 2 weeks before lehman brothers filed for bankruptcy.will see more on the central bank front this week on what that can mean for monetary global policy. >> absolutely. thank you for that. let's get you up-to-date with paul allen and first word news. paul: china said to have deposed the party chief, a man considered a rising star ahead of the leadership shuffle later this year. sources say he is under investigation for violating already regulations and severely damaging its interests. takenficials say he was away friday night while he was in beijing for the national financial work conference. the top democrat wants further investigation into donald trump's election campaign amid concern about russia directed misinformation. pointed tok warner the way false stories about hillary clinton were circulated. the president launched a fresh attack on the media as a new poll showed falling approval ratings. the ecb is on track to unwind its stimulus program next year. economists say it will drag the process out. a survey shows most think policymak