talents, though. this is so frightening. to see a map like that showing how much exposure there is everywhere, including us really. they don t call at it greek fire for nothing. i saw something from citigroup that said the countries in worst ever fiscal shape. we cannot say we re immune after the economic crisis of 2008, we are 18 months away from it but we haven t climbed out of it. i think this is unchartered waters. we are not sure that we we can t say that we were not going to see a developing pattern of the rating agencies souring on sovereign debt. and the investors demand lowering the prices and demanding higher interest and market panic. we can t say we won t have that. bret: to that point, standard & poor s rating unit downgraded greece s debt to the level of junk. junk bonds. just this past week. you saw the market take a
Detailed text transcripts for TV channel - FOXNEWS - 20100428:22:00:00
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up front? before it went to the floor? they are going to take half a loaf, leading to what could be nasty fight against derivatives and the kind used by farmers and business, not wreel wall street. bret: once it happens you will see it here. thank you. the federal reserve said today it will keep the interest rate at record lows to help the economy recover. the dow gained 53 1/4 to go back over 11,000. the s&p 500 picked up 7 2/3 and nasdaq finished up ahead quarter of a point. last week s signing of tough immigration law in arizona touched off debate if washington. correspondent molly henneberg reports as congress tries to come up with a plan, some are urging president obama not to wait. good evening. hi, bret. fox learned that the democratic leaders including the top senate democrat harry reid has signed off on a 28-page outline of a possible immigration bill that focuses on border security but
tumble. the u.s. market. by more than 200 points. this is, it could reach here. bret, the problem is in a sense the problem is greece but it isn t greece. it s greece and beyond. portugal and ireland and italy and spain. it s, you know, the word of the day is contagion. the possibility that this grows. greece by itself, especially if you are looking at the worldwide bond market is not that big a share. not that big a player. but when you start looking at europe and when you start looking at the situation with german banks, then i think you get to the point where, you know, as we heard this could be potentially catastrophic. the more it grows. bret: in this environment, president obama is introducing the debt commission that is going to come up with some recommendation by december. but says we re not going to talk about anything before december. right. i mean there are huge differences in the scale of our problems and the kind of debt we have. but this should be a warning. we sh
he used to oppose drilling offshore and then he was in favor or it and now he s opposed to it again. he couldn t say yesterday he was going to caucus with, republicans or democrats. voters are willing to forgive a lot. but they want somebody who actually believes something, in something other than himself. bret: for control of the senate, potentially in the balance, even though it s a stretch for republicans to get all ten, who is he going to caucus with is a big deal? it s important. the fact is that you could ask him today and no matter what answer he gives you won t believe him because we now know that the pledges he makes are the three weak expiration dates. if he tells you he will caucus for republican or democrats there is no reason you d believe him. he does have a chance even though he doesn t stand for anything that i particularly see because of the democrats and liberals in the florida this strategically, they will decide that meeks is not a guy they want to back in the e
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