Vice chairman and theyll share what to do with your money amid this massive selloff. Lets have a look at whats driving the action the major averages falling into correction territory as the global brought yaoutbreak grows Goldman Sachs is warning that u. S. Companies may generate no Earnings Growth in 2020 based on the elevated uncertainty from the virus and oil prices are plunging on the fears with crude dipping below 46 per barrel at the moment the s p is down 2. 9 , dow almost 800 points. Joining us today is cnbc contributor stephanie link and senior markets commentator mike santoli. Ste steph, youre always looking for the bright side, the growth and optimistic picture we were talking earlier, both of us were talking earlier that this feels like december 24th, 2018, when we got the big swish down and it was really hard to buy then its really hard to buy now. But i can understand where we were selling off we were coming off of a much higher level now than we were in 2018, but it does
Administration. Gm failed to report a ignition die tech in millions of cars. The smoking gun is unreported memo from a parts supplier that laid out the problem. Regulators slap gm with a maximum fine of 35 million. Is it enough . Joining me two people that should know. We have former nits at that attorney and we have a lawyer for family of people who died in crashes of gm cars covered by this recall. Alan, start with you. You were in enforcement in nhtsa. Are you surprised by their action . Did it go far enough . This is about as far as nhtsa can go. Nhtsas authority for civil penalty is only 35 million. The Department Proposed legislation that would increase the maximum civil penalty to 300 Million Dollars, which is directional ally correct. Even a 300 milliondollar penalty might not be enough to deter a Huge Corporation like General Motors seeking to avoid expensive recall that could cost 35 billion. This is rounding error to gm. Thats right. I looked at it as a matter of fact. Profi
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The Federal Reserve continues to resemble the gang that couldn't shoot straight, as the central bank appears to be inflicting more pain on the economy than is necessary to slow job growth, writes investor Bret Jensen..PEP