mohammed ceo of pimco and alexis glick has experience working on wall street and covering it and the ceo of the gen youth foundation. diane, start with you, bottom line, are there lessons from 2008 that can be applied today to avert another global financial crisis? well, we re already seeing them applied. the fact that central bankers are not really talking to each other before the financial crisis actually emerged in august of 2007 or july of 2007 was a major detriment to them dealing with it know and it became a shock in august of 2007 and they really didn t have the communication going. they ve. been planning different scenarios. the problem is they have fewer tools but the coordinated move this week shows that they actually are trying to learn from the lessons to continue to provide liquidity in a place where it has completely dried up in europe. alexis, does it show it is the central banks trying to speak with one voice, not the politicians? it looks like they re t
the iranians are referring may be a u.s. unarmed reconnaissance aircraft that had been flying a mission over western afghanistan late last week. the operators of the uav lost control of the aircraft and had been working overtime to determine its status. so in fact u.s. officials are saying the crew reported right before they lost this plane, unmanned plane, that they lost flight controls right before it went down. but so far the key thing is they re not saying it was shot down. they re not saying what kind of drone it is. but shot down or not, the real question here is the real bottom line, do the iranians now have their hands on classified u.s. technology. the u.s. knows it is not going to get it back. in this particular case, barbara, the u.s. can t go in retrieve it or destroy it as it might be able to do if this material would have ended up in another country. well, that s absolutely right. when helicopters or drones go down in places like afghanistan, and they want t
millionaires to pay for it. republicans say they could live with extending the current rate, but only if spending cuts offset it. last night in the senate both parties plans were voted down so there is work to be done before the end of the year. in california, powerful winds are still in the forecast for parts of southern california. nothing like the winds that did this though. did you see this damage? gusts topping 140 miles an hour were measure in the mountains outside los angeles at 140 miles an hour. that equals a category 4 hurricane. also you can imagine power lines were just no match for some of this. a lot of people, tens of thousands of them, are without power still today. also honda has expanded a previously announced recall to nearly 900,000 vehicles. the problem is potentially dangerous air bags. the global recall affects several cars in the line-up the accord, civic, odyssey, crv, pilot as well, models 2001 to 2003. most of the cars tartgeted are n the new
the buying and selling of stock by corporate insiders who have access to nonpublic information that could affect the stock price can be a criminal offense. just ask hedge fund manager raj, who got prison for congressional lawmakers have no doing it. corporate responsibilities and have long been considered exempt from insider trading laws. even though they have daily access to nonpublic information and plenty of opportunities to trade on it. we know that during the healthcare debate, people were trading healthcare stocks. we know that during the financial crisis of 2008, they were getting out of the market before the rest of america knew what was going on. steve croft from 60 minutes is going to join us in a moment. what was going on was gop congressmen like spencer back us of alabama and fellows of the house financial services committee were getting dire top secret briefings on the crisis from treasury secretary hank paulson. at the same time, according to 60 minutes
hoping to take on the candidate who may pose the greatest challenge to president obama. we are talking about mitt romney. herman cain is live with us here in the situation room this hour. we will talk about what is behind declined in the recent polls. criticism of his 9-9-9 tax plan and much more. i m wolf blitzer, you re in the situation room. he s the only candidate whose been consistently at the top of the polls in the volatile republican race for the white house. that has mitt romney increasingly targeted by president obama s supporters. now in an unusual move, the democratic national committee is targeting romney in an effort to sway the gop nominated contest pmt cnn s joe john says working the scene for us. joe, what is going on here. it raises the question, whose primary is this anyway. it was much easier to keep track of this when it was just republicans fighting among themselves. the latest in the republican battle comes from the democratic national committee,