Transcripts For FBC The Willis Report 20141015 : comparemela

Transcripts For FBC The Willis Report 20141015

Union that the ebola patient who died was left in the emergency room for hours. The two nurses that are now infected worked out proper gear for two days. Is it time for a ebola Marshall Plan . Airline stocks tumbled on the latest ebola headlines. Investors are running scared. And here with the latest on all this, dr. Potarazu, ceo of vital springs technologies and teddy weisberg, founder of seaport securities. Welcome to you both. Great to have you here. Teddy, i will start with you. 460point down day at its worse. 300 point swings to the positive side. 173 points where we ended up down on s p. How much is ebola driven and how serious is this . Why are we so volatile . I think it is very serious because it create as huge unknown, enormous unknown. That is what investors cant stand. Sort of event de jure at the moment. There are at love other things going on. The mess in the middle east. Political dysfunction here. Economic numbers here. It is a perfect storm, gerri, for a downdraft in the stock market and were getting that. Getting just that. Dr. Sreedhar potarazu, the markets turn this morning. Even before the markets opened futures turned dramatically south. With we told later she was allowed to fly. That could be because markets took another dive. Why were they allowed to fly . This is most outrage just thing i ever seen. As a surgeon im completely flabbergasted by lack of communication from the top down. The lack of protocols being followed by the hospital. And the irresponsibility of allowing somebody that was in direct contact somebody in contact with ebola to fly. That was an absolute nightmare and we have to take to task everybody that has authority or responsibility for implementing these procedures. As a surgeon, i can tell you that every hospital is required to have protocols in terms of how every Health Care Professional is supposed to gown up and is supposed to abide by not having any skin exposure, which was not the case in the professional at texas hospital. Gerri just a second, i want to get back to teddy just a moment on markets and reaction because i think a lot of this, the very innings things that dr. Sreedhar potarazu is talking about, unsettling to all of us. Americans, trade es, it is unsettling. Teddy, you talk about black swans. These are unexpected events that occur people dont see an issue for markets that become bigger than life. Is ebola one of them . This seems to be chatter and has been the chatter for a week or so amongst the traders that i talk to. You dont want to say that publicly because it is very dire scenario and the last time we really saw this was number of years ago with longterm Capital Management which was tied to a lot of leverage and russian debt and practically blew the markets up then and a lost banks and wall street firms came to the rescue of that particular company and perhaps saved the day. Is this a black swan event . Only time will tell but it is very scary and it has got the markets very unnerved. Gerri it is hard to understand what next . That is the big question here. Dr. P, you were mentioning that a there was a period of time that many, many emergency workers in dallas, in that hospital, dallas presbyterian were not protected caring for patient zero. Were learning from the Dallas Morning News they were wearing no hazmat suits for the first two days of caring for this fellow. Thats right. Gerri this poor fellow who ended up dying. Is that shocking to you . Youre somebody has been around this kind of thing. Are you astonished . Yes it is. Im absolutely astonished because there should have been adequate education for all those professionals before the patient arrived. You heard the debriefing from the nurses today who were providing information about the fact that the patient was in the emergency room and was not isolated for a significant period of time. The nurses were not adequately gowned in terms of having all of the areas of the skin that were not exposed. And then you have this patient who was taking care of him, get on a plane to cleveland a day before she developed symptoms . And so, you have now expanded the universe of people that are technically exposed beyond dallas. And the consequences of this are outrageous. And i hope that tomorrow morning, if not tonight, the president issues absolute protocol for ebola for every hospital because where is the Surgeon General . The communicator who is supposed to be gerri that is where the Surgeon General is. Where is he when we need one. Gerri or she. I couldnt agree with you more, the woman youre talking about is amber vinson. She traveled back to ohio, part of a group who treated patient zero. Well be hearing from the president shortly on this he is said to be bringing his cabinet together to come up with the best response possible. Teddy, are the markets going to continue to trade on this . Because not only are you worried about your health, youre also worried about your financial future with these headlines. Hes, absolutely. I mean were clearly on the other side of the equation now. Now for the last two or three years people have bought the dips and gotten away with it. I suspect they might have bought this dip early on but this time it doesnt look like they are going to getaway which it. I will say this, at some point stocks will find a level where values reappear. In fact we started to see that today, believe it or not with some of the Energy Sectors which basically have been beaten up in this market. Some of those stocks look like theyre really oversold but the fact is news remains unsettled. Too many unknowns. Even down 160 points is pretty bad day. The fact we were down 460, closed down 170, makes it look like a good day. It was not. Gerri it was not a good day. Not for health in america and not for your pocketbook either. Teddy, dr. Sreedhar potarazu, thank you for coming on tonight. We appreciate it. My pleasure. Gerri before we move an, i want to mention well have word from the president momentarily. He is at the white house right now. We is meeting with members from his cabinet. We expect to see tape. Well get you all details as soon as we can. For every answer we get from federal official it is seems to spur more questions about handling of the ebola crisis which is why the cdc and nih will be in the hot seat tomorrow on capitol hill. With more on this, republican congressman Michael Burgess of texas. He is the vicechair of the subcommittee holding a hearing. He is a doctor, he knows a lot about what is going on. My first question for you, sir, what is your big question for tomorrow . What do you want to know . Are you going to hold these peoples feet to the fire . Well it is a valid question because here we are, the middle of october and were way behind and the first of september, we were told by the people at cdc not to worry, we got this the middle of september, of course the president went to cdc and said ebola has not come to this country but if it does well be prepared. And now a month later were clearly not only not prepared but were behind and weve got to stop being behind. Weve got to get back in front of this. I think the greatest thing im anxious to hear from the cdc is, how are you going to go about implementing procedures youve been talking about, the procedures youve been sending emails and brochures, how do you go about implementing . Clearly the people at presbyterian were not protected by procedures that the cdc said they had in place. Gerri we heard lots of complaints from people in the industry they get to websites and links that dont explain what theyre supposed to be doing. Congressman, do we need a Marshall Plan for this . Dont we need a plan that we need somebody to lead this plan . And have a vision of how it is supposed to work . Because let me tell you, its clear major fissures and cracks in this Nations Health care infrastructure are being exposed tonight. We are learning just how illprepared we are for a major infection, a major virus. Well, at a hearing at end of september i asked that very question, who is in charge if this gets worse and no one could answer the question for me. Cd c, nih, fda were all present. Now we do need a general. We dont have a general in this fight right now. To that point, sir, josh earnest today at the white house said the general is lisa monaco, is the president s advisor from Homeland Security. Is that going to work . I dont think so. And of course youve also got the assistant secretary for preparedness and response who has been completely not visible through all this you need a general to lead this fight but clearly, youve got to get in front of this and were nowhere close. What i would do tomorrow, if i had the authority would be suspend all flights from western africa, not flights, but visas for people coming from western africa into this country. I think we need to put a pause on immigration, pause on the transportation side, to give us a chance to recover. I think the fact that this new patient was transferred to emory, i think that is good thing. Every hospital, unlike what dr. Frieden said a couple weeks ago, every hospital is not prepared to deal with this. Gerri let me ask you about that because i understand that there was a teleconference with some 5600 clinicians recently this week, telling him exactly what cdc expects out of these hospitals. I heard it was a screaming match. People from all over the country in those hospitals said we cant afford to do what you want us to do. We dont have the room to do it. We dont have the money to do it. We dont have the personnel. Is that surprising to you . It is not surprising. I said early in this crisis i said lets move people to the centers where they can be taken care of. Dr. Brantley, taken care of at emory in the early part of august, and it all went well. But problem was not dr. Brantley. It was individual who dropped dead in Lagos Airport right before he got on a plane to come back to minneapolis. We knew that there would be a problem. We knew someone would show up to an emergency room carrying this virus and might not be picked up originally. That has been a risk out there from the getgo. Once the patient is identified, look, if you do research on this virus you cant just do it at any university. You have to go to one of four biolabs in the country. The hospitals are no different. But, doctor, it took 76 personnel to look after patient zero. So if we were to get an onslaught of patients i dont think even four institutions could take care of all this . Why you have to get control of this now. And that means not letting another person come in from western africa who is going to be the new patient zero in another location. Youve got to have people with the expertise who are not only able to take care of the patient but protect their own personnel and protect pham police. Gerri i dont think the administration is willing to close those borders down to those countries. So good luck with that, congressman. We need to help them. Gerri we will be watching your e your coming on very closely. Tonight. Thank you very much. Thank you, gerry. We want to know what you think, here is the question tonight, do we need an ebola Marshall Plan, a ebola Marshall Plan a plan for ebola . Log on to gerriwillis. Com. Right on the righthand side of the screen. I will share results at end of tonights show. Were waiting for the president to speak on ebola. He is holding an emergency Cabinet Meeting at white house. The president is expected to speak shortly. Well have those remarks as soon as we get them. During the show we want you to facebook me or tweet me gerriwillisfbn. Send me an email. Go to gerriwillis. Com. At the bottom of the hour i will read your tweets and emails. First we outlined the growing problem surrounding ebola. Next, solutions. One company is revolutionizing the way they test for this deadly virus. It could take ten minutes. Stay with us. Opportunities arent always obvious. Sometimes they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Introducing Synchrony Financial bringing new meaning to the word partnership. Banking. Loyalty. Analytics. Synchrony financial. Engage with us. Gerri just a reminder here. Were expecting the president to speak momentarily about ebola. He is right there. He is in the white house. He is postponed travel for an emergency session of the cabinet. We want to hear what those comments will be. Well bring them as soon as we have them. More on ebola. It continues to spread and there is a company out there by the name of positive i. D. It has the potential solution not only helping contain ebola but to diagnose it. Diagnose it in just minutes. Putting the Laboratory Process at your fingerprints. I think your fingerprints is what we meant to say. Here with positive i. D. Is the president. We have the Senior Adviser for positive i. D. Im so excited about this segment. So exciting to bring people good news about this. Lyle, explain the technology, what is it, how does it work . This is a lab in your hand. Take a sample from a patient. Blood sample or swab. Put it in the cartridge and into the device and push Single Button and processes with the same chemistry and same tests currently used by the cdc to detect ebola is present or not. Whether it is in a patient or environmental sample. Gerri youre seeing pictures of that right now, the firefly device on a other side there. Tom, how big after leap forward . How different is it from the technology presently available . Well, thanks for having me, gerri. Were also excited about the capability. It is a huge advance forward because what well be able to do is not only determine who has ebola but facilitate trade and commerce and facilitate people moving through border checkpoints or to protect our troops overseas that are forwarddeployed. Well also be able to detect who doesnt have it and that is a very important distinguishing factor. Gerri so, lyle, how big of an advance is this . It seems to me it takes a long time to figure out currently if somebody has ebola. Were watching people for 21 days. They have to be specially contained. What would your technology do . How would it change that process . So it is a long process currently to be able to diagnose somebody with ebola and to run the tests. If you have the facilities it still takes anywhere from six to 24 hours to come to that diagnosis. What our system does is, it takes the laboratory out into the field, at the point of need, point of sampling. And, by being able to advance your laboratory all the way out to the limited Resource Limited areas, you can test their at the site and come to a diagnosis within a few minutes. Our prototype units, are processing samples in as little as 2010 minutes. The next generation, the flier fly unit we are talking about we expect to do that this ten minutes. Gerri wow. That the same results are what you achieve in the laboratory. When you forward deploy out in Resource Limited areas, they dont have the laboratories or personnel trained to do it. You can test people at the locations. Determine who is infected, who is not. You can isolate those who need to be isolated and quarantined. You can isolate it at the source. The closer you get to the source the better chance you have of isolating anything like this, whether ebola or influenza or something of that nature. If you get close to the source you can contain it much sooner. That is i believe the best to protect us as a country to prevent it from coming into our borders. Gerri good point. Tom, to you, currently we have customs agents taking peoples temperatures at the border which seems stupid, frankly. A, not everybody presents a higher temperature even if theyre cooking ebola inside of them and b, what would we trust customs agents to do this . Theyre not Health Care Professionals. How would your product shortcut that process . It i interesting that you bring up Customs Officials, going back into the early 2,000s, we create ad program at the department of Homeland Security called the Container Security initiative where Customs Officials are overseas and screening containers for wmd, for potential explosives or nuclear material. And were taking cuttingedge detection equipment and put it in the hand of our agents overseas to detect an acute an keen threat to the United States. So it is not unprecedented that we put u. S. Government agents overseas. That program has been successful. I think were talking about doing a similar thing. Gerri okay. And, go ahead, im sorry. Gerri no, finish your thought. I think it is important, i heard the congressman talking about it in the earlier segment about closing the borders. And really not only is ebola a threat to the United States population, it is a threat to Global Commerce and by gerri that is a good point. As lyle has pointed out, getting closer to the source what well be able to do is move people, goods, aviation, move aircraft through the system. Gerri it has a lot of applications there is no doubt about it. Lyle, to you, how close are you to producing this en masse . Is there a hurdle . Is there something in the way . How long will it take and how much will it cost once you get it to market . So there arent any major hurdles for us to be able to complete this system as designed. Weve been working on this for several years. It goes back eight to 10 years when we were doing development of systems to detect biological weapons for the government but moving it forward to the next stage, which is what were doing with the firefly system is were less than a year away from having these units ready to go in the field testing and put them in the hand of the endusers. You asked about the cost of the units. We put that into consideration in the design because if you have a 50,000 instrument, youre not going to want to take it out into these Resource Limited areas. If it costs several hundre

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