And the dow jones plunging nearly 280 points. The biggest one day drop across the globe. It started in china with a regulatory move and spread to europe on a new round of greek worries and found its way to the u. S. By the close the Dow Jones Industrial average sank to 17,826 and the s p 500 gave back 24 and it was a losing week for all of the averages. Bob sonny looks at the issues settling the market. A crackdown by the chinese and a greek exit from the euro put pressure on stocks today. It was a selloff on heavier than normal volume. All of the major indices were down as well as all of the s p 500. And the stocks in the internet and the solar space were down more. Everything down 2 to 3 and the biggest moves in greece russia italy and portugal. Everything is up doubledigits as the European Bank has sought to prop up the economy. T of the profit is locked up. A lot of the traders decided to lighten up. After the close in china, there was a crackdown in overthecounter stocks. This is
Span3 out a coverage deal on cspan3. Democrats, dial 202 5853880, republicans 202 5853881, and independents, all others 202 5853882. Also, send us a tweet cspanwj, or jointly cumbers comers asian on facebook. Com cspan, or join the conversation on facebook. Com cspan. It isntolson says president obamas fault that these companies have offered substandard plants designed to be revoked. Clinton has been a good social club soldier, but he should recognize that he is wrong here. Sheryl says they are moving toward total Government Health care that is what they have wanted all along. Says the on affordable obama act is collapsing more and more everyday. You know when feinstein jumps ship, the holding is thinking. I love it. Deb says paving the way for hillary, goes with whatever that centers at the time. We want to get your thoughts this morning. What do you make a president clinton saying to president obama you need to keep your promise on Peoples Insurance coverage . While we wait for your
Volunteers to go when aqua doors of the print flyers that get handed out. I think the idea that the media and political campaigns are living in a symbiotic relationship is not the case. Yes, there is a benefit for the media but it is not the case that the media tries to blow politics out of proportion to get more money. Host a viewer tweets in media will not get behind any effort to limit Campaign Season and spending. Vineland, new jersey. Democratic caller. Caller good morning, greta. Good morning, philip. I wanted to get your opinion, if i may come and make two quick points. You seem very astute with politics and have followed it for a long time. Tell me what you think about in terms of the Supreme Court or saidever court it was that money is also speech and how that figures into your conversation today. And if i might ask you please, bear with me on this a little bit, greta. I am not trying to go backwards, i know he has also studied politics as well over the years. When did it beco
Wrote for slate, you stated that while supporting the minimum wage absent other policy changes, you would prefer other policies because they tend to be more progressive, paid for disproportionately through taxes on the wealthy, on upperincome individuals rather than through higher prices that might be passed along to consumers. In a piece on the minimum wage for the New York Times this march, former cea chair christina roamer made a similar point stating it might be the case that, quote, businesses pass along some of the cost of a higher minimum wage to consumers through higher prices. Often the customers paying those prices including some of the diners at mcdonalds or the shoppers at walmart have very low family incomes. Thus, this price effect may harm the very people whom a minimum wage is supposed to help. Is it, in fact, likely in your opinion that consumers would foot the cost of a higher minimum wage . I think its a relatively small portion of the cost for those businesses. I th
Leave. [laughter] [inaudible] exactly. We had an oped from december 2012 that said, look, the firms should build dabbal, and theyre not able capital, and theyre not able to do it now. All the other questions about the third amendment aside, the firms should be building capital. Jim and i said the profit sweep doesnt make sense. Look at how does the system evolve, right . So more, so hopefully more capital both internally and through the credit link notes, you know, going from 30 to 90 is triple, but 90 is very close to zero on a 5 trillion Balance Sheet. So that seemed like a modest step when the risk transfers are so successful so far. But more private capital. The two firms will continue to be regulated, and the retaped portfolios retained portfolios, the internal hedge funds will wind down. Thats not as far aform as. John softencrapo, but its much better than the system before the financial crisis, thats for sure. So do we need congress to do legislation, or could fhfa, how much cou