remains pretty much shut down. a few european airlines did run test flights wednesday. some airports in central europe have let a few flights take off today, but the system still really not functioning much at all. that s right. and you know, they did fly some f-16s through it. they landed safely but did have serious engine issues. breaking news on toyota. just agreeing to pay a record, mark, fine. this is $16.4 million. it s to u.s. safety regulators for the government s claim it delayed a massive accelerator pedal recall in january, and again, to give some perspective, that is a very small amount for a company like toyota. most fines are relative to the reputational issues, but when you think about wall street and the fines, for example, what this may cost goldman sachs, it s always the reputational issue that s much more costly than the actual fine. yeah. plus, now they ve got that issue with their big suv, withdrawing it from sales because of safety concerns. hasn t
alcoa was downgraded today, and that could cut into profit margins there. and earnings season kicks off next week in alcoa. and also, a decent-sized deal with 1.5 billion, and that is what arena resources is being acquired by sandridge energy today. so we had a merge to talk about on this monday. spending home sales, the nonmanufacturing report, and pending home sales were both positive and the home builders getting a bump off of the pending home sales numbers as yo look at standard pa sifshgs and beezer and pullty, and hovnanian and you specifically see it from a regional bank standpoint even though citi was up quite nicely today and you saw some of to smaller regional banks as the outperformers from the financial space today, and this is news breaking in the past show closing bell, with phil lebeau saying that toyota is fined by the federal government of $16.4 billion for not notifying them, and that is the largest fine ever. so we are seeing a dip, but there are reco
all right, we d like to thank our guest host today, senator evan bayh. senator, thank you very much for joining us. it s been a pleasure having you here. thank you, becky. it s been great. you too. carl, you love washington. he s leaving, you re down there. why don t you take the plunge, dude? i will see you tomorrow on set. carl, do you get combat pay for being in washington? i should. osha. we ll all be back here tomorrow. squawk on the street s coming up right now. live from the financial capital of the world, this is squawk on the street. good morning, everybody. i m mark haines. and i m erin burnett, front and center. the health plan passed the house. now, corporate america takes up the bill. this morning, new details on what it could mean for you. yeah, market going to open lower on this, but the market expected it to pass, so now maybe the expectation becomes reality. they really look at it and they go, maybe they don t like the smell. i suspe
focus, we have 4, 5, 6% declines in the material names as well. look at the drop there. the important thing that s going on here, sue, that china gdp is another add-on effect, figuring out what effect that will have when the chinese start raising interest rates. that s one of the major factors in today s trading session, let s talk more about what s going on in this market. we have all of our experts lined up to talk about the markets. rick santelli, i ll go to you, if i could. we ve seen some interesting action as traders look for safety given what s going on in the stock market. and also in the dollar, and also in china. make sense of it all, if you could. i don t think you re going to get any good answers in the markets, because markets by their very nature measure making money. i think making money will get impacted negative by some of the ideas the president put forth. however, i think in the end, where he wouldn t to go isn t a bad place, i believe that many think t
we have final thoughts distinguished investor leon cooperman. hedge funds, you run a hedge fund. twice you beat by twice the market last year. washington, there s some tax threats for hedge funds and there s regulatory threats for hedge funds. what s their future, in your judgment? i think the future is we will probably have the politicians try to regulate us more. reality is we have plenty of regulation already. for example i m not different than most hedge funds. regulated by the scc, federal reserve board regarding requirements, subject by in-house clearing brokers, maintenance margin requirements, a partnership agreement which represents my investment programs to my investors. if i deviate the program i could be litigated about. most importantly, i think the most of the hedge funds they are zealous of their reputation and don t want to do anything stupid. we have plenty of regulation. regulation was in place to catch madoff but were lax. better enforcement.