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Fareed Zakaria GPS

April 28, 2019: What we learned about ISIS after the Sri Lanka Attacks; plus the Financial Crisis, 10 years later

Fareed Zakaria GPS

CNN

News

4.32.9K Ratings

🗓️ 28 April 2019

⏱️ 7 minutes

🧾️ Download transcript

Summary

NYPD Counterterrorism Chief John Miller tells Fareed what it means that ISIS claims credit for the Sri Lanka attacks, despite no longer controlling any territory in Syria or Iraq. Then, Fareed sits down with former Federal Reserve Chairman Ben Bernanke, and former Treasury Secretaries Hank Paulson and Tim Geithner, for an exclusive look back on the financial crisis, a decade later. Guests: John Miller, Ben Bernanke, Hank Paulson, Tim Geithner, Jared Cohen.

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Transcript

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0:00.0

When the conflagration that became the financial crisis began more than 10 years ago, Ben Bernanke,

0:08.6

Hank Paulson and Tim Geithner didn't know each other well at all.

0:12.7

But the crisis demanded they come together.

0:15.3

Bernanke is Fed Chair, Paulson is Bush's Treasury Secretary, and Geithner as Obama's.

0:21.1

And together they put out that fire.

0:23.6

They've now written a book about their experiences called Firefighting, the financial crisis

0:28.7

and its lessons.

0:30.1

And they joined me for an exclusive interview.

0:32.5

The German pleasure to have you on.

0:35.5

Tim, one of the things you write in the book that is most worrying is we're another crisis

0:41.8

to happen.

0:42.8

And we know that these kind of crises happen in the history of capitalism periodically.

0:48.5

The United States government collectively does no longer have the tools to do the kind

0:53.7

of rescue that you guys did 10 years ago.

0:57.7

We're in better shape in many ways in the sense that the financial system is more stable.

1:01.9

And the post-crisis reforms are much tougher and applied a much broader share of the system.

1:07.8

And if those are protected and not eroded or weakened over time, that'll bias a measure

1:13.3

of stability.

1:14.3

But it is true that if we go into another crisis, we will not have the things any country

1:22.4

has to use.

1:23.4

In 0809 to protect the country from a panic and a great depression.

1:28.2

Those were either expired or were taken away by the Congress in the understandable and

...

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