here s the theory: greece cannot and will not pay its debts. if that goes over to spain, ireland, portugal, then you ve got european financial institutions, the big banks over there, exposed to trillions of dollars worth of risk. now, those institutions there, the banks in europe, they are hooked very closely into big american companies. there s a free flow of money on an instantaneous basis to and from across the atlantic. if there was a crisis in europe of that magnitude, if greece spreads, then you ve got the seizure of the international flow of money just like we had in september of 2008, and that slows down dramatically economists all around the world, in particular in the united states. megyn: how exactly? how? does it just slow down our stock market? our stock market certainly comes down. that s a side bar effect. the principal casualty is this free flow of money. this is a modern financial