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The table, it was that if there is that degree of disruption, that lack of certainty, that lack of trust in the u.s. sitti signature, it would mean massive disruption the world over and we would be tipped again into massive rupture. that was that tip at the big table. >> in 2008, the great recession, as it's called, this would mean another recession from your point of view? >> if it wasn't resolved, yes, that's what the risk is. >> you know, there are some figures in our government and congress, senator rand paul, others who say, you know, this is overstated. the treasury can do things that th...

They serve as the financial watchdog and rescue agency. last night i sat down with the head of the imf, christine lagarde, in this exclusive interview. as we sit here, there is no deal. the american government is barelying toward inin inin ini default. how concerning is this to you? >> it's very concerning. i spent the last three days with 300 finance ministers and banks from across the world, and the world was doing better. there was recovery in the u.s. in europe at last. japan was turning the corner. the emerging markets were still growing fast and low-income countries were really showing s...

That lack of certainty, that lack of trust in the u.s. sitti signature, it would mean massive disruption the world over and we would be tipped again into massive rupture. that was that tip at the big table. >> in 2008, the great recession, as it's called, this would mean another recession from your point of view? >> if it wasn't resolved, yes, that's what the risk is. >> you know, there are some figures in our government and congress, senator rand paul, others who say, you know, this is overstated. the treasury can do things that the concept of default is hyperbole. >> but creative accounting ...

A calculation having just been reelected that, hey, i'm going to preserve for future presidents an ability not to negotiate over the debt ceiling, even though as senator portman pointed out, previous presidents have negotiated on this. that's why we introduced the idea of having to raise the debt ceiling. does the president bear responsibility? you are a democrat, you work for him, but out of government you can take a step back. does he also bear responsibility by playing around with default by pushing it this far? >> i've been 3,000 miles from washington. i have to tell you, the american peop...

Reelected that, hey, i'm going to preserve for future presidents an ability not to negotiate over the debt ceiling, even though as senator portman pointed out, previous presidents have negotiated on this. that's why we introduced the idea of having to raise the debt ceiling. does the president bear responsibility? you are a democrat, you work for him, but out of government you can take a step back. does he also bear responsibility by playing around with default by pushing it this far? >> i've been 3,000 miles from washington. i have to tell you, the american people are angry, they're frustrate...