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Barack Obama held his first press conference as President-elect on November 7, 2008. He started the morning with a meeting of the leading economic advisers from across the nation. They filed in first and stood in front of a bank of American flags and were joined a few minutes later by Obama.

The transition economic advisory board was a collection of business men, academic and government leaders. They included Lawrence Summers, Michigan Gov. Jennifer Granholm, Google CEO Eric Schmidt, former Federal Reserve Chairman Paul Volcker and executives from Xerox Corp., Time Warner Inc and Hyatt. Warren Buffett joined the group via teleconference.

Obama made an initial statement that focused heavily on the economy and then took questions from reporters. The entire session lasted about 20 minutes. Check out the videos below.

First tape: “We only have one President at a time.”

Second tape: Reporter Q&A

Third tape covers: State of U.S. Intelligence, Cabinet Posts and 1st Dog: