and pentagon concerning the russian downing of a u.s. drone. new video shows when a pair of russian fighter jets approached the drone and brought it down. let s bring in oren liebermann and jeremy diamond. let s start with what the pentagon is saying about this new video. reporter: the video itself is pretty incredible. a close look at what happened early tuesday morning over the black sea. there are essentially two pieces to it. in the first one, a russian fighter jet makes a pass at a u.s. mq-9 reaper drone, dumping jet fuel. you see the drone itself is still operating. the propeller spinning, in the second clip of the video or the later part of the video, you see a russian fighter jet make another pass. you see the same dumping of jet fuel and this is where the russian jet collides with the u.s. drone, damaging its propeller and forcing it down. it s critical because this is what backs up the u.s. account of how this all played out over the course of 30 to 40 minutes o
Crunch struck, responding by 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 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. 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 for dealing with that. Francine did we see early signs of it, or were we late to the game . Lord kin
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. That 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 amount of Equity Capital that 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 for dealing with that. Francine did we see early signs of it, or were we late to the game . Lord king i think we saw signs certainly signs of it in the world economy, and we should have given more weight to the rise of lev
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. That 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 that we need to worry not just about the amount of Equity Capital that banks issue, we 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 for dealing with that. Francine did we see early signs of it, or were we late to the game . Lord king i think we saw in the world economy, and we certainly signs should have given