again, that would limit to this country s exposure to systemic risk,, knowing that as we lesson that risk, we also lessen some of our capability worldwide, in terms of the financial markets. i think for sure, we need the apparatus proposed for systemic risk regulation. i think that is very important. i think possibly the most important thing being discussed is to recognize, despite every good intention, despite trying to see around every corner, you just will miss the stuff. to make sure that the system is better able to absorb the consequences of missing something, to make sure that institutions like ourselves have appropriate levels of liquidity and capital, which by and large means more of both. you might have us have certain types of contingent securities. there are a number of proposals out to do it. in general, the system would be made safer if financial institutions had more capital. loans will be more expensive. there will be less of credit. but after the last few y
closer today. i wanted to remind our colleagues to focus in time just over a year ago this congress passed the american recovery and reinvestment act. as a result of that, more than two million jobs were saved or 2 r this january we lost 20,000 jobs. we don t want to lose any jobs. we want to be on the upside. we want to be creating jobs. the point is following the passage of the american recovery and reinvestment act and other initiatives taken by the boirks and this congress obama administration and this congress, a difference of over 250,000 jobs. 779,000, january, 2009. 25,000, january, 2010. in the final quarter of 2008, in the final quarter of 2008, the final quarter of 2008 before president obama took office, america s g.d.p. shrank by 6.2%. g.d.p. for that quarter was negative 6.2%. just one year later, the g.d.p. grew in the same period by 5.9%. over 12% change in the growth of g.d.p. thanks to the american recovery and reinvestment act and, again, other actions
welcome to the show. the headlines today which is a monday, it s all about china today that overtakes germany as the biggest exporter of goods as last month they blew past expectations. in the u.s., earning season kicks off with acola early today as they look at reports on heavy metal profits. welcome to worldwide exchange. it s 5:00 p.m. here in the evening. this is where the markets are trading or have traded today. japan was closed for the coming of age today today and let s get closing numbers for you. shanghai market up 0.5%. a lot of it export and import numbers from china blowing past expectations. caution because of lingering concerns about monetary tightening. housing is up 0.5%. kospi a bit higher and the market getting a lift on china trade data because of the resource linked. chinese demand would fuel the resource link companies. the cnbc global 300 is up 44 points. hi, ross. good to have you back. nice to be back in the saddle for 2010. hello. it s just