tumble. the u.s. market. by more than 200 points. this is, it could reach here. >> bret, the problem is -- in a sense the problem is greece but it isn't greece. it's greece and beyond. portugal and ireland and italy and spain. it's, you know, the word of the day is contagion. the possibility that this grows. greece by itself, especially if you are looking at the worldwide bond market is not that big a share. not that big a player. but when you start looking at europe and when you start looking at the situation with german banks, then i think you get to the point where, you know, as we heard this could be potentially catastrophic. the more it grows. >> bret: in this environment, president obama is introducing the debt commission that is going to come up with some recommendation by december. but says we're not going to talk about anything before december. >> right. i mean there are huge differences in the scale of our problems and the kind of debt we have. but this should be a warning. we should see this as a warning. if you look down the road and