Something we havent seen for the dow and s p in more than a ho month and a half to wilfred frost who has breaking news. Hi, morgan. Yes, james gorman the chairman and ceo of Morgan Stanley sent a note out to colleagues that were seen by myself and the content confirmed by a spokesperson at Morgan Stanley, in it he said, quote, 90 of our employees are working from home. As a result the normal bonds created by every day interactions with colleagues have been impacted and im hoping my perspective on the firm and crisis will be helpful and you have all seen the Federal Reserve actions are extraordinary but given the circumstances necessary markets cannot function without liquidity and they have taken real steps to address this critical issue he went on to say, slowly, governments across the world are putting aside their politics to arrive at blockbuster support and stimulus packages. Way too many people have lost their jobs overnight and it is central for government to act as aggressive as
I am an attorney. I have a twopart question what you say about the u. S. Deficit in terms of china . The other part is to have though 1 million customers to know how all those others how u. S. Companies were taking a beating especially Cellular Companies like at t and motorola that establish the infrastructure but then they were kicked out with maintenance contracts. It was a mess. There was one Company Recently fined 165 million proposed though business is very difficult solo wonder what your perspective is on change . Brevity is not my virtue it is funny but not that funny. [laughter] but to start with the deficit i say dealing with that problem is hugely important to the comments i made earlier in the chinese point if we want to be a super power years into the future that is something we believe to do. A short term are you concerned they are the largest foreign creditor . I read that japan moved ahead as the largest but it essentially they are the same for. I said that would not bot
Resource, our forests. But Carbon Pollution is not just an attack on our forests, its also an attack on our farming. Indeed, drought across the u. S. Is a huge and growing throat t to ago cull. In the state of organizer, we e had three of the worst droughts in the klamath basin. 2001, then the worstever drought of 2010, and then the worstever drought of 2013, and now were looking at the possibly of the worse of any drought in 2014. Hopefully well have a lot of precipitation and a lot of snow in the coming weeks and that wont be the case. But if you were looking right now just at the snowpack, it is possibly well have the fourth worstever in a 14year period. This is devastating to our rural farming economy. Absolutely devastating. And so lets take a look at the impact of coming from smaller snowpacks. Snowpacks are a significant piece of this puzzle. And if we were to take and look at the Pacific Northwest and we were to basically draw a circle about like this, what you see are these zo