Thank you so much for speaking to bloomberg tv. It is always a great pleasure. What lessons have we learned . Mr. King i hope we learned the lesson that this was bigger than financial crisis. It represented a serious problem in the world economy. I think that is the most important lesson. Second, we learned we need to worry not just about the amount of Equity Capital banks issue, we need to limit the leverage, but we also need to tackle the problem that banks are inherently unstable. People take their money out, or they dont roll over there letting, and we need to do that. Francine did we see early signs of it . Mr. King i think we saw signs in the world economy, and we should have given more weight to the rise of leverage in the Banking System. At that point, the banks themselves were deeply reluctant to admit what was going on was not sustainable. Francine at what point in the lead up to the financial crisis did you think there was something seriously wrong . Mr. King i give a speech
Rates to near joining me on zero. Leaders with lacqua, former bank of england governor mervyn king. Mervyn king thank you so much , for speaking to bloomberg tv. It is always a great pleasure. What lessons have we learned . Mr. King i hope we learned the lesson that this was bigger than just a this was bigger than just a financial crisis. It represented a serious problem in the world economy. I am sure not everyone sees it that way, but i think that is the most important lesson. Second, we learned we need to worry not just about the amount of Equity Capital banks issue, we need to limit the leverage, but we also need to tackle the problem that banks are inherently unstable. People lose confidence in them. They take their money out, or they do not roll over their lending and we need to do that. , francine did we see early signs of it, or will relate to the game . Mr. King i think we saw signs in the world economy, and we should have given more weight to the rise of leverage in the Banki
Lacqua, former bank of england governor, economist and author mervyn king. Lord king, thank you so much for speaking to bloomberg tv. It is always a great pleasure. What lessons have we learned . From the financial crisis . Mr. King i hope we learned the lesson that this was a lot bigger than just a financial crisis. It represented a serious problem in the world economy. Not sure that everyone sees it that way, but i think that is the most important lesson. I think secondly we learned we need to worry not just about the amounts of of Equity Capital banks issue, we need to limit the leverage, but we also need to tackle the problem that banks are inherently unstable. And if people lose confidence in them, they take their money out, or they do not roll over their lending, and we need a mechanism to do that. Francine did we see early signs of it, or were we late to the game . Mr. King i think we saw signs of it in the economy and we , should have given more weight to the rise of leverage i
Lord king it is difficult to exaggerate the severity and importance of these events. Not since the beginning of the First World War has our Banking System been so close to collapse. Francine mervyn king was at the epicenter of the biggest exercise in Crisis Management in modern financial history. He was in charge of the bank of england in 2007, pumping billions of pounds into the economy. Joining me on leaders with lacqua, former bank of england governor, economist and author mervyn king. Lord king, thank you so much for speaking to bloomberg tv. It is always a great pleasure. What lessons have we learned . From the financial crisis . Lord king i hope we learned the lesson that this was a lot bigger than just a financial crisis. It represented a serious problem in the world economy. Not sure that everyone sees it that way, but i think that is the most important lesson. I think secondly we learned we need to worry not just about the amounts of of Equity Capital banks issue, we need to l
Thank you. You are watching the tv on cspan2 with top Nonfiction Book and authors every weekend. Book tv, television for serious readers. Secretary clinton, lets talk about the book what happened. You write the first warning sign was North Carolina. Walk us through that evening. Yes, well it was a poor that in North Carolina coming in pretty quick succession. We always knew North Carolina would be hard for many reasons but we thought we had them, a good lead going into election day because it was early voting in florida so when those numbers started coming in that was quite surprising and disappointing. It wasnt the end, by any means, there were a number of ways we thought that we would get to 270 electoral votes but it was a very long night and around midnight when michigan and wisconsin and sabina came in we knew that we were going to be successful. What was going through your mind . At first i was worried but not alarmed with the early returns because again, as i said, our numbers l