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Ivory coast is edging toward collapse after the president ordered a government seizure of many banks. that declaration has caused a run on bank deposits. many of the banks targeted by the government are from local investors. they had suspended operation this week because of international sanctions against him. he lost the presidential election in november, but he refuses to step down. joining us now is eric. just give us a sense as far as what's happening as far as the banking system. is there any sort of functioning banking system now in ivory coast? >> reporter: it's not sure if the banking ...

The free fall that the financial markets were in in late 2008. the idea was to really stabilize financial markets ultimately to get banks to lend to each other again. when you look at all of the data, it looked like the market was stalled in 2008 and that would have brought down not just financial institutions but ultimately the economy. we have estimates that t.a.r.p. itself has saved about 10 million jobs and i think that's probably right on target. you got to remember the primary purpose of this was to stabilize financial markets and that's exactly what it did. >> all right. i don't have to...