81. 00 just a smidgen above the more 5 decade low of 79. 00 set in march the last time before march that the index was below todays level was february of 1988 during the sell off that followed black monday in october 1987 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right now i mean once a day and the connections are 1087 black monday the crash of that here is very important because the solution then was to extend Bank Credit Facilities thats how Alan Greenspan Ronald Reagan and robert rubin the plunge Protection Team or their working group of finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks so they did exactly what they were doing but i. Bigger scale and then we have of course another major move down in 1909 we had a bomb crash more or less in
A negative Interest Rate environment that is toxic for banks so the stocks 600. 00 banks and x. Which covers major European Banks slumped 5. 7 percent on monday to close at 81. 00 just a smidgen above the mall 5 decade low of 79 set in march the last time before march that the index was below todays level was february of 1988 during the selloff that followed black monday in october 1987 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right i mean once again and the connections in 1907 black monday the crash of that here is very important because the solution then was to extend Bank Credit Facilities thats how. Greenspan Ronald Reagan and robert rubin the plunge Protection Team or the working group on finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks
Street com they say hit from all sides European Bank stocks swoon to 1988 low leaks about Money Laundering a resurgent pandemic china risks exposure to turkeys financial crisis all in a negative Interest Rate environment that is toxic for banks so the stocks 600. 00 banks and x. Which covers major European Banks slumped 5. 7 percent on monday to close at 81. 00 just a smidgen above the mall 5 decade low of 79. 00 set in march the last time before march that the index was below todays level was february of 1988 during the sell off that followed black monday in october 1907 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right. I mean 1988 and the connections in 1907 black monday the crash of that year its very important and because the solution then was to extend Bank Credit Facilities thats how Alan Greenspan Ronald Reagan and robert rubin the plunge Protection Te
The solution then was to extend Bank Credit Facilities thats how Alan Greenspan Ronald Reagan and robert rubin the plunge Protection Team or that working group on finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks so they did exactly what they were doing but on a bigger scale and then we have of course another major move down in 1989 we had a bomb crash more or less 9093 we had the dot com crash in 2000 we had the 2008 subprime crash and each one of these crashes were caused by the exact same thing over indebtedness too much leverage and no accountability no than foresman of regulations by the f. C. C. And then send in others and each and every time the policy from the Central Banks is to expand credit line and say do it again but do it bigger and now in 2020 we. Of now some more thing happening all over again its entirely predictable entirely preventable but as restraine
Services committee and how the markets may react. Then we will talk a bit about this try yant stake in our Parent Company comcast, what is the behind the thinking at triant and what if anything may owe dur as a result. Teslas battery day, where that stock is trying to recover this morning after yet another tweet from elon musk which is part of the discussion today, jim. Whether or not hes setting expectations in a different way saying that some of this high volume production is a phenomenon still a couple years away. Hes giving us an underpromise, overdeliver, i think, which is highly unlike him, but it could make more a little more pizzazz. Theres been so much talk about battery day, maybe he lowers expectations an blow them out. People come out and want to buy tesla, want to buy amazon, positive notes about apple, positive note about facebook its just become the pattern youre waiting and waiting for when the selling is over and then, david, they cannot resist. Theyre down 15 and 17 p