I am francine lacqua. The main story of the day. What is oil and one is greenspan the new government a writedown on its debt. One is oil and one is greece. Borrowing for new bonds. Less figure out what is going on. A calming effect. Hans nichols in berlin. What is going on, hans . Here is what we know. He spoke to a group of about 100 financiers and laid out a plan to swap the debt by the ecb a European Financial Stability Fund for these new bonds. These new bonds would be linked to longterm group. There would not be an thing on the eye on the upside on the debt. Crucially and importantly, they are not going to call it a haircut. The politically difficult, politically awkward term especially here in germany. Here is somebody inside of the meeting and will give you her take on it. They are looking at restructuring of the eus bilateral loans and leave a imf and private sector debt alone. They are working a case without being specific on how the restructuring will take place. Head of rese
Yep, today it became clear that all the nice things weve been hearing act the deal on thursday had nothing to do with the rally becausesant tiding was all in the senate. Theyre just scared. Not the senate. The senate is scared, the house isnt. The house of representatives as we keep discovering is a horse of a different color. From the very beginning you never expected the senate to reject a debt ceiling increase and not just because its controlled by a democrats. There are enough republican senators around for a while and talk to the Business Community to know a disaster looms if we dont do something. There arent enough in the house for certain. First of all, i am unwavering in my belief that if we default it will financially catastrophic. Just placed u. S. Debt on a negative ratings watch this ebbing in the sign of real trouble if the debt ceiling isnt raised. No kidding. They should be doing that. I thought that dave temper said it best on squawk when he noticed the hazards of a def
Total deadlock in the fiscal cliff negotiations. President obama is expected to make a statement on where things stand at any moment here. And with a preview we have fox businesses peter barnes. He is at the white house. Peter what do we expect to hear . Well, melissa, right now the president is finishing up on meeting with Senate Democratic leader harry reid who came down here to try to talk with the president with some strategy moving forward to avert the fiscal cliff. We expect the president to say that he still wants to get a deal with republicans to do that. That is still going to be time. However, that they will have to do it after the christmass3 holiday. The president plans, is planning to go to hawaii for christmas with his family. Speaker boehner has left town. Gone back to ohio. For the holiday. The senate is expected to come back on, on december 27th, the thursday next week, which is the earliest that they would be expected to get back to work on this. Melissa . Melissa pet
Total deadlock in the fiscal cliff negotiations. President obama is expected to make a statement on where things stand at any moment here. And with a preview we have fox businesses peter barnes. He is at the white house. Peter what do we expect to hear . Well, melissa, right now the president is finishing up on meeting with sete democratic leader harryeid who came down here to try to talk with the president with some strategy moving forward to avert the fiscal cliff. We expect the president to say that he still wants to get a deal with republicans to do that. That is still going to be time. However, that they will have to do it after the christmass3 holiday. The president plans, is planning to go to hawaii for christmas with his family. Speaker boehner has left town. Gone back to ohio. For the holiday. The senate is expected to come back on, on december 27th, the thursday next week, which is the earlit that they would be expected to get back to work on this. Melissa . Melissa peter, wh
Into this final hour. We are starting to see some selling intensify here. We have to figure out whats going on here. The s p, to give people a sense of the broad market gauge, thats down by. 25 . The nasdaq is off by. 5 . The typical correlations having been falling into place. A lousy 30year auction today which sent yields skyrocketing. The 10 and 30. But that took its toll early on. We got to figure this out what this selling is about. We are tracking two stocks that are nowhere near their alltime highs. Tesla getting crushed today off almost 11 off earnings that were reported giving investors a reason to hit the brakes on this momentum stock. Stabilizing a little bit today, it is up. 5 . Remember it lost 20 of its market cap yesterday. Someone coming up on the program who says whole foods is still an incredible brand and the stock is a buy right now. Bull and bear time on whole foods coming up. Breakup, breserkshire hathaway. Warren buffett says no way. But it would unlock billions