Good monday morning. Welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan and jon fortt at the Stock Exchange it is a historic day of trading. We will begin with the selloff which did include a break with Circuit Breakers richard on the stress test for stocks, mike santoli on the crude awakening in oil prices as the saudis launch a price war. Rick santelli on a bad yield trip for treasuries and Steve Liesman on the fear and the feds response bob pisani, lets begin with you and think about whats important this morning. Whats important is how did the system respond to the immense stress that we had today. This is the first real test of the margin Circuit Breaker system set up back more than 30 years ago and we did have a halt on the s p at 9 33 for 15 minutes. The by all appearances it looked like it went well it reopened understandably some bargain hunters there, a mild lift in the markets so the mechanics seem fine. What was distressing to see what happened to Oil Stocks Pu
Although i do acknowledge that the garden state punches way above its weight when it comes to political scandals. [indistinct conversations] in 2004, the democratic governor of new jersey, Jim Mcgreevey, stepped into a press room just like this and became an Overnight Sensation when he admitted to a gay affair and resigned in the same speech. A governor coming out of the closet was genuinely shocking, a careerkiller at that time. Looking back, though, i cant help but feel that we were also quick to embrace the headline that we may have forgotten to dig a little deeper, because the reason why Jim Mcgreevey resigned is a lot more complicated than we remember. Ah, new jersey americas communal jacuzzi, or cesspool, depending on who you ask. [glass shatters] a land with its own unique culture and customs and a Political Landscape than can be rather. Shall we say, in your face. Youre done. Its 4 30. Youve maximized your tan. Get off the beach. New jersey is a roughandtumble place, man, you k
In 2004, the democratic governor of new jersey, Jim Mcgreevey, stepped into a press room just like this and became an Overnight Sensation when he admitted to a gay affair and resigned in the same speech. A governor coming out of the closet was genuinely shocking, a careerkiller at that time. Looking back, though, i cant help but feel that we were also quick to embrace the headline that we may have forgotten to dig a little deeper, because the reason why Jim Mcgreevey resigned is a lot more complicated than we remember. Ah, new jersey americas communal jacuzzi, or cesspool, depending on who you ask. [glass shatters] a land with its own unique culture and customs and a Political Landscape than can be rather. Shall we say, in your face. Youre done. Its 4 30. Youve maximized your tan. Get off the beach. New jersey is a roughandtumble place, man, you know . Its not for the faint of heart. The politics, the money, the press, the media, the scrutiny, are all larger. I teach new jersey politic
The windchill gets wednesday morning. Also some chances for snow coming up. Authorities are putting together the background of a suspected terrorist arrested for setting off a pipe bomb in the subway in new york city. He is 27yearold akayed ullah from bangladesh. Law enforcement says he was inspired by isis but had no direct contact with the terrorist group. He came to the us on a visa and recently traveled to bangladesh and to the united arab emirates. Surveillance shows the suspect detonating the pipe bomb strapped to his body in a subway walkway near times square. He suffered burns on his hands and stomach. Four other people were slightly wounded. The attempted attack shutdown several streets and train lines around the Port Authority terminal. You did not really hear it too much but you could feel it shake. I was actually sleeping and it woke me pipe bomb that was fixed to his person with a combination of velcro and zip ties. Thank god the perpetrator did not achieve his ultimate go
Chairman and the Ranking Member, the whole committee here, senator barrasso, senator carper, you have an introduction to make also. We will do that. Lets recognize senator carper because he will be coming back and doing his a little later. Very briefly, welcome to this important hearing, i think the chair and Ranking Member for putting this together and giving us a chance to say something, i ask unanimous consent him if i come back and give it live later this morning i will do that, good to see you, thank you for joining us this is important stuff. I want to thank all of you for being here today, thank you for your help in getting this together. I have taken counts, the last one other than you and me, retiring this year, that means you and me. I hope that is not a message. We did coming, working together in a bipartisan way of accomplishing things, looking forward to working with my colleagues who worked in legislation benefiting users for Transportation Networks and the economy. Since