. >> my last name is lehman. jessica lehman. thank you. hello councilmembers. thank you so much for having us here today and congratulations to our new chair. >> thank you very much. >> okay. let me know if the sound is okay. is that close enough? okay. great. so i understand we have about 10 minutes. is that right? >> yes. >> okay. i'm going to try to take about just five minutes of our time because we have two board members here who i want to introduce them and a chance to speak as well. so senior disability action was technically formed last summer through the merger of senior action network and planning for elders in the central city. both are ork niegzs that have been around for 20 years and had similar missions for supporting seniors and people with disabilitys in san francisco and our mission is about empowering people with disabilities and seniors to improve our community as a whole and we have a strong social justice focus and about fighting forms of oppression so we work through individual support and collective action that we think it's important to

never say anything about company policy but david tried to force microsoft to fire the ceo and shorted lehman brothers brothers, so what is wrong with the shareholder activism? >> nothing wrong totally but i think it takes it too far. he could get a position on the board or he could apply. here is the issue, the cash position has been like this for quarters it is not just a blowout quarter. gerri: so what? what does that make a

check that, jake lehman, he's feeling it. count it, lehman a lot of face time. four three-pointers today. and the miss and the move we've been waiting all night to see. lenn finished with twelve, and maryland takes down the demon deacons 86-60. >>> georgetown, hosting st. john's at the verizon center. pick it up first half. hoyas out to a ten-point lead off the missed three. bowen coming in and throwing down. take another look. a bigtime dunk from bowen. hoyas led by 11 at the half. second half georgetown up nine. otto porter doing something he doesn't do that often, the miss. but nate lubick has got his back with the tip-in and led the way with 16 points georgetown wins 68 >>> you're watching "book notes" on c-span. next on "book notes," author paula broadwell discusses "all in," her in depth study of the li

this is jessica lehman again. i am embarrassed in the director's report i was remiss of mentioning something in the senior action report which was extend a sincere thanks and recognition on the mayor's office on disability staff and the installation of phone jacks in the sro's. i don't think through the land use committee and the first reading of the board of supervisors unanimously without all of their work, particularly carla and joannaa, for thinking through the issues and putting grab bars in bathrooms in sro's and working on the technical assistance manual which will be invaluable to make sure that property managers and landlords can put in the grab bars that work best for the buildings and seniors and people with disabilities that need grab bars so they're safer so thank you very much for all of your work. >> thank you. and this is public comment for items that was not on today's agenda. thank you. >> hello. i am barry ed man. uc ed mand and i am a ambassador for 10 years today and today we losing a case wor

the failure of lehman brothers is five pages. i'm trying to tell the whole story. >> charlie: let me stop there. you say the failure of having lehman brothers fail, failing to stop the fall, was a disaster. >> i think it was. charlie: and that they could have allowed baer sterns to fail. >> i think if we could rerun history and do the experiment, it would have been better to experiment with letting bear go under. i'm not saying it was wrong. i don't think if i was pulling the levers i would have the guts to say let's just let them go as was layer done with lehman. but the conjecture of saving bear and lettinglyman twice the size fall six months layer, chaotically was i think the seminal moment in this crisis. >> charlie: of course as you know the people who were in charge including hank paulson said them didn't have the authority to... >> absolutely. ben bernanke has said the same thing. there's truth to it. what that means is you would have had a stretch. right after lehman failed hank paulson suddenly discovered he had a $50 bi

jeannie lehman just performed "almost home" so beautifully. we were all in tears for vicky, her son, gill, and lisa miller. also with us david friedman, composer. good job, buddy. and our friend david wilde, who is taking hollywood by storm. >> what do you think of your song? >> we were all sitting here crying. it was just beautiful. it was the way we feel. >> it was poignant. >> my son is still in afghanistan. he'll be home shortly but -- >> almost home. >> definitely written for a military mom in mind. >> we have something to help your organization. we were moved by your story, so we're going to give a contribution to your charity. $2,000 to full circle home. ? that's help so much. >> we really want to encourage everyone else to. if you feel like there's no way you know to thank our military and boys and girls who are literally many of them still boys and girls and the families and everything they're going through, please consider their charity. especially with mother's day coming up. thank you so much, again. thank you. >> let us know, gill

lehman was out of business. so that is a poor excuse. now whether we've -- seen the department of justice in los angeles just bring a case against standard and poors, the credit rating agency, for activities leading up to the crisis. so there may be activities trickling in, but there are going to be no major cases brought against j.p. morgan, merrill lynch, for any -- lehman, bear stearns, for any of their activities. and that leaves us with a big question on what led up to the financial crisis. >> jesse eisinger, thank you. >> thank you. >>> why 700,000 miles are close in space, and why there were so many stars in the sky. bill nye the science guy will join me. male nouncer ] wow. a brave choice. okay, focus. think courage. think shaun white. think how perfect they'll be for outdoor crafts. mr. white. [ male announcer ] they're good for circulation. plus, they're totally practical. yeah, freedom. scan me. stride on, pale-legged, short-shorts guy. ♪ all stations come over toed, mithis is for real this time. step seven point two one two

lehman was out of business. so that is a poor excuse. now whether we've -- seen the department of justice in los angeles just bring a case against standard and poors, the credit rating agency, for activities leading up to the crisis. so there may be activities trickling in, but there are going to be no major cases brought against j.p. morgan, merrill lynch, for any -- lehman, bear stearns, for any of their activities. and that leaves us with a big question on what led up to the financial crisis. >> jesse eisinger, thank you. >> thank you. >>> why 700,000 miles are close in space, and why there were so many stars in the sky. bill nye the science guy will join me. [dog barks] [grant barks] there's a nice silver one over here... let's take a left here at the... or we could chase that squirrel. it's okay. once you sit in a subaru, you'll stay. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at

lehman brothers and bear stearns and. merrill lynch and all these companies that won one under one after the other everybody started worrying because they couldn't see the assets so what we need to do is. get rid of this faith based banking we need to have. no leverage and we have to have transparency the government has to disclose what the assets are the government has to do verification and disclosure we should have a government agency verify that somebody has mortgage is actually. a reasonable mortgage that that person has a job that person has an income that person's house which is collateral to the mortgage actually has this value so we should not have any liar loans and then we should also have all the. the banks be become what are called mutual funds which gesture sell shares. to these funds so that they've taken all the money on an equity basis they don't borrow money they just sell shares of stock the money comes in and then they buy these disclosed assets the mortgages for example and then if you have equity bas

. >> narrator: the president-elect was told that in the two months since lehman brothers crashed, the panic on wall street had only gotten worse. >> what we were facing was something that, really, he had never contemplated, never experienced. >> narrator: unemploymenwas nearly seven percent and climbing. the stock market was down more than 6,000 points. >> there was a growing sense of calamity. this could be the most climactic economic crisis in all of american history, that we were thatlose to a complete meltdown. >> obama at that moment gets a real glimpse of the future: disaster is coming. >> at the end of the conversation, there is basically no bright spots. and i say to the then president- elect, "wow, that had to have been the worst economic briefing a new president's had in, you know, almost a century." and the president says, "that's not even my worst briefing this week." >> narrator: there were the wars in iraq and afghanistan, the pursuiof aqaed and above all, a huge political challenge. >> we can finally bring the change we need to washington... we are ready to take this co

this is the example of lehman brothers and bear stearns and merrill lynch, where no one knew how much risk they had on their books. it turns out they had all sorts of risk and nobody in the market knew or understood them. this is the big danger of business being done in an opaque fashion, in the dark, in a very complex nature. i would argue that ultimately you need to bring began pulling out of the dark room and bring it back into the light. in exchange, where everyone can see what is going on. to continue a little with the analogy. this is what i think is the most dangerous part of the way business is done on wall street today. the dealer. when you are playing blackjack, i think everyone knows the rules. if you get more than 21 you are bust. there are certain statistical probabilities you should and should not bet on. when you go to a casino, does anyone in the audience expect the dealer to give them bad information? for example, where the dealer is actually telling you when you are on 19 that you should take another card? no one would expect, at least when i have been to casinos, --

. >> anne lehman, director of policy at the department of status of women. i am less than halftime position and i having there for almost 20 years. i am here to tell you that you get a lot of bang for your buck when you have staff at department. we are a very small staff, but we're a very creative group that has gotten recognition for our novel programs around domestic violence and other areas, not just locally or nationally, but internationally. this year in particular, we're going to new york to share with the u.n. commission on the status of women some of our work that we have done around domestic violence, so that women from around the world. we have received rewards nationally, internationally and on the association of counties on a number of occasions. susan had to leave, but you have this in your packets about the one billion women on v-day, valentine's day, 4-6 right here at city hall. it basically represents the figures of 1-3 women having been raped, coerced into sex or abused in their lifetime. i know supervisor avalos likes to know where the stat

we, it was september of '08 so a long time ago lehman brothers went bankrupt. and there was lot os of discussion in corporate america about uncertainty. and that was what was keeping corporate leaders from investing. and i am one. i have 30,000 employees, and we manage business that looks to the future. that's what we worry about in the insurance business, was's the future going to be. and i couldn't put my finger on what that uncertainty is, and that lead us into a deep dive into the numbers. that is who we are. we are numbers company, very data oriented. and we did a deep dive. and the numbers are-- are stunning. and i don't use that word lightly. but it raised to me a real sense of urgency to become an advocate, an advocate at the very least trying to help people understand the size of the issue and what confronts us. >> rose: so what has to happen? >> well, everybody will have their own political and social view, and i have my own. we are a democracy and i will go with the 51% wherever it leads us. but i believe those three programs are part of the american

seven, senior and disability action, a presentation by jessica lehman. eight, action item, cochair election. nine, report from the physical access submit. 10, a presentation from the sfmta advisory committee. 11, public comment, items not on today's agenda but within the jurisdiction of the mdc. again each speaker is limited to three minutes. 12 correspondence. 13, discussion item, council members comments and announcements. 14, adjourn. >> >> thank you. i have made some changes to the agenda. team six will be prepared before team five at 115 to accommodate our speaker's schedule. can i have a motion to a -- approve the agenda. >> i move it. >> second. >> okay. public -- so we're -- we're back on public comment. oh i am sorry you guys. this is my first time. we are definitely going to agree. we had a second. >> i second the motion. >> thank you very much. we all agree? >> aye. >> next is the public comment, and i have our public comment cards in front of us, so up for public comments you guys, and we might have to cut it a little bit short for our guests

. >> anne lehman, director of policy at the department of status of women. i am less than halftime position and i having there for almost 20 years. i am here to tell you that you get a lot of bang for your buck when you have staff at department. we are a very small staff, but we're a very creative group that has gotten recognition for our novel programs around domestic violence and other areas, not just locally or nationally, but internationally. this year in particular, we're going to new york to share with the u.n. commission on the status of women some of our work that we have done around domestic violence, so that women

dollar since lehman brothers collapsed. the yen has been high, but now it is rapidly collapsing. the problem with a currency war, even without declaring one, by taking certain actions, you can make others countries feel they're being attacked. >> one thing the emerging inntry are putting blockages the way of additional currency of appreciation of their exchange rates. brazil has done that. china intervenes in the currency markets. switzerland puts a cap on its rate. they're trying to defend themselves. each of those distortions in the market forces action somewhere else. it is a dangerous situation. >> if we do get into a currency ar, the united kingdom -- sterling fell by 20%. the bank of england was pleased by that. here is the thing, sterling is falling again. why? >> sterling is falling because it is likely to lose its aaa rating%. -- a rating soon. the bank of england is likely to print more money. it is likely to be undesirable from an international investor perspective. the general economic outlook is poor. >> beads have always been used for money. this is the currency fro

as part of a 2010 case, lehman's debt holders brought against jpm, the lehman side has asked for the right to depose the london-based one-time jpmorgan trader who allegedly masterminded the london trade last summer. as folks will remember, it was a strategy taken by the chief investment office and when it went sour, it was because they moved against it and costing several people their jobs. in a filing just yesterday, jpmorgan's lawyers argue that bruno has no bearing on the originally man suit which hastens the demise. it's an event to make the bank look bad. there's a hearing on march 13th. as for jpmorgan, it's like the frustrating blowback from the whale situation continues. >> the story that will never end. right, kay? >> absolutely. it was a very rare misstep and a pretty senior and expensive level as you know, they did very well through the housing crisis. and as we all know, they also bought bear stearns in a distressed situation. they were certainly a survivor. with the whale situation, it was a very rare, risk situation failure getting into liquid positions that didn't make

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[laughter] remember what happened to the accountants who opened lehman brothers' books. [laughter] point is, i believe when it comes to our economy, there are things we just shouldn't know. here to know them at me is financial writer and washington bureau chief of the "new york times," david leonhardt. dave, good to see you again. how are you? [cheers and applause] you are the author of new e-book "here is the deal" available on electronic everywhere. dave, why are they going after s&p? do they have the goods on the agencies in. >> they may have the goods. the huge housing bubble and the banks were packaging together the mortgages. >> caused by poor people being greedy go. head. >> and s&p comes in and said they are aaa rated they cannot go bad and they are perfectly safe. they did go bad. the government has e-mails with standard & poor's telling how they rate the thicks. they look bad. is it criminal? their defense is they are no different from journalists. >> why not put financial writers like you in jail for telling us things are bad which undermines consumer confiden

peterson served as secretary of commerce under richard nixon and went on to serve as chair and ceo of lehman brothers. he co-founded the private equity firm the blackstone group. joining us is john nichols whose latest piece is, "the austerity agenda: an electoral loser." it is part of a major exposÉ based on a new website called pete peterson pyramid. lisa graves is an editor of the site, which links billionaires like pete peterson to the campaign to fix the debt. john nichols, lay out who pete peterson is and how he fits into this picture of sequester that we look like we're about to see by the end of the week. >> pete peterson is an old school moderate republican. he is not some sort of hard-line conservative. he is a very expensive suit, a private jet, mineral water kind of guy. he has been obsessed for a number of years with restructuring the u.s. economy, in particular, u.s. fiscal policy. this is important. pete peterson and the people around him do not want -- i was a just particularly interested in fixing the dead were dealing with deficits. what they're really interested in is tak

he survived lehman. he is now more than a survivor. larry mcdonald, new edge senior policy strategist. >> thanks liz. liz: good to see you. closing bell ringing in about 6 1/2 minutes. the dow fighting to keep its streak of positive weeks for the year. right now still in the red for the week for the dow but possibly green for the s&p and nasdaq. we're looking for a close above the following level, 14,009, as the dow inches back toward that very important sort of psychological level of 14,000. we're taking you through the last minutes of trading on this friday. looking out the window, not that bad yet here in new york city. ♪ . . . .. ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get strai