From Hollywood, it's time now for Johnny dollar Mrs. David Parsons. Well, I called Mr. Ecker and he told me where you're staying. I was just on my way out to your home Mrs. Parsons, I'd rather you didn't come to the house. Mr. Dollar, couldn't I meet you somewhere? Well, sure Better still, why don't I come by your hotel and pick you up? That'll be all right 15 minutes. Is that too soon? That's fine Mrs. Parsons. Yes, your father-in-law know you're meeting me. He did. I think he'd kill me Tonight and every weekday night Bob Bailey in the transcribed adventures of the man with the action-packed expense account America's fabulous freelance insurance investigator. Yours truly, Johnny dollar Expense account submitted by special investigator Johnny dollar to the Eastern Casualty and Trust Company number 25 Yardley Boulevard, Boston, Massachusetts The following is an accounting of expenditure is during my investigation of the Calakles matter Item two four dollars and fifty-five cents one long-distance phone call to Dave Blaine chief investigator for Eastern Casualty I explained to him that in spite of our information that David Parsons, Jr. Had been missing for ten days People in Los Angeles connected with him seemed indifferent or irritated by an investigation I told him how old man Parsons had tried to throw me out three times when I got around to suggesting that Perhaps his son might have flown the coop with some money and bonds Blaine told me to keep trying and keep on trying to get to the bottom of it. I took him at his word It was a little after two o'clock when I saw Mrs. Dorothy Parsons pull up in front of the Beverly Hilton lobby She wore a ribbon to hold her hair back in the convertible a sundry showed off a pair of well-tanned shoulders The dark glasses the cigarette holder and the smile did the rest and making her a very pretty woman. I Spoke. I love worried. I Keep you waiting long Yes, I do too it just struck me I'm here to see about your missing husband now. It looks like we're going on a picnic I think you don't have to wear sackcloth and ashes to do your job now really do you well It sometimes helps on a job like this You disapprove of me. Don't you I disapprove of everybody. I have to Mrs. Parsons all the time forever Only until a thing straightened up till you separate the chaff from the weed. I suppose yeah Where are we going? I thought you might like a drive down by the ocean I'd rather be facing you across a desk. You shan't do that mr. Dollar.  I don't know. I just don't know Would you feel any better if you faced me across a luncheon table? That's as close to a desk as I can think up. Yeah, let's try that out. I Gave her what I could have a smile and let her think it over She drove well keeping her eyes to the road both hands on the wheel She was a careful kind the rear view mirror was adjusted two or three times looking for our traffic cops We went off Sunset Boulevard and onto the road that is set right by the ocean The Sun was shining the air was warm And I got to thinking what business did I have worrying about a missing man on such a nice day? What is it? I'm tired of driving. Let's walk along that lovely strip of beach. Oh No, wait a minute. It's such a lovely day in the air so good walk with me talk with me Just a little while and then we can talk about all these other things I married David when I was not quite 18. He was almost 30 Let me see that was 14 years ago 14 years Go on He joined his father's firm and he's been there ever since We live well Socially economically I Guess I belong to the keep your social position in mind club. Don't I I don't know What do you think of me I Met you today to talk about your husband, Mrs. Parsons, but I've been talking about my husband. I Told you about meeting him about being married to him What else is it a tell now tell me about missing him what can I tell you about that? Where he is for one thing. I don't know any ideas.  I don't care Tell me how pretty I am. I don't understand you. I didn't understand your father-in-law David Parsons is missing. No one wants to talk about it do anything about it make any moves. What is this? You're cross with me now. Yeah For some reason I'd assume you'd want me to talk to somebody about your husband You'd want to talk to somebody too that you'd that you'd want him back want to know if he's well if he's in trouble and what happens You spend an hour on a sunny afternoon showing me your best profile doing everything but getting down to the business at hand I don't get it. I'm sorry.  When did you see him last? Last Tuesday morning at breakfast at home. Tell me about it It's nothing to tell really He ate his breakfast read his paper Put on his coat kissed me and left I Called his office at noon about something or other in his secretary told me he hadn't come in I Really didn't know he wasn't around Till Wednesday afternoon late. How's that? Well Tuesday night, I I went out with friends Wednesday, I slept late I presume David was in bed when I came in I didn't look in his bedroom Wednesday afternoon, mr. Ecker called and asked to speak to David Mr. Ecker told me David hadn't been in his office all day Tuesday I Checked his bedroom and his bed hadn't been slept in Tuesday night So I called my father-in-law. Why didn't you call the police? Why should I it only seems reasonable to me go on? Mr. Poison's told me not to mention the matter to anyone that he'd take care of it. He hinted I'm bad at this Johnny because well you have no idea But I mean mr. Poison senior doesn't hint He's a very blunt person. I met him this morning. Yeah But I'll say he hinted that David might have gone off with someone else. I see Has he ever disappeared before? Yes many times one was the last time Last fall The three days he was gone and before that it was in the spring He was gone for a matter of five or six days when he came home on these occasions. What did he say? What did he do? Nothing. Oh, no, I can't believe that I mean if he's gone a few days without leaving any kind of word when he returned He must have had some explanation for it. I suppose he did he might have said something about getting even I don't recall look at me Now this is serious I'm looking at you. You said you've been married to him 14 years. You said he joined his father's firm shortly after yes What did he do before that? He studied and traveled didn't work We wrote or something. I don't know what kind of a man is he? He's David Parsons, Jr. He's impeccable Brilliant and honest as a husband Aren't you overstepping yourself somewhere a lot of personal questions will have to be answered about him by someone He's a very devoted husband and father except for those times when he disappears except for those times. Yes Do you suppose he'll reappear this time? Yes, of course. Why don't you he's your husband? I'm wine winds coming up Feel like so much. I feel very much like going home. All right Mrs. Parsons Yes Did you expect me to make love to you out here this afternoon? Kind of questions that it's to the point Did you Yes, why it's not a nice question to ask me I Think sometimes I'm quite attractive. I think you must be attractive all the time. Thank you Why didn't you kiss me? We don't have to go into that Unless of course you want to tell me why you stole me all afternoon. Do you? To shame Mr. Dallen one thing more When I spoke with you earlier, you asked my advice in this matter I advise you call the police about your husband. Did you you know I did I also advise your father-in-law to do the same thing He said he'd kill me and himself before he'd call the police in you said or I thought you said you'd call them in Anyhow that you were concerned about your husband and wanted him found Did I get that wrong? I don't want any police. Mr. Dallen. I don't think they're necessary.  You said you only had one more question. I lied. I've got a thousand questions. I should call home Come on. We walked up to the highway and climbed back into the car She drove to the nearest filling station and public telephone booth. I Waited in the car while she made a phone call Some high school kids drove up in a jalopy and sweatshirts and jeans They waved ten pounds of wieners at me for no reason at all and asked me if I'd like to go on a wiener fry. I told him no An old man with a bamboo fishing pole came in he dropped a soggy Gunny sack on the pavement while he disappeared around at the back. I went over and peaked in Three pretty good-sized perch smelled out at me. I Looked off at the ocean just in time to see a pair of surfboard riders catch the creamy top of a roller Climb up on their feet and wave to their girlfriends sitting in the sand Nothing was wrong with the world. Nothing at all life was going on just fine David Parsons Jr. Had been missing ten days and nothing was wrong at all. I Let up a cigarette What difference did it make if a man was missing ten days? Not a bit Especially to his wife who looked her prettiest when she told me practically nothing about his disappearance The ashes fell on my lap. I'm sorry. I took so terribly long mr. Dollar Had to call my father-in-law's home too. There was a message for me.  I'm going to tell the police about this I just decided while I was sitting waiting for you. It won't be any need for that. Huh? David's come back What he's home now. That was the message. He'll be there when we get there You see all of your worry was for nothing you and I We could have had a perfectly lovely afternoon if we'd known this couldn't we If you say so mrs. Parsons You all right brother Take it easy. Better give me a hand with her. Can somebody call an ambulance? Yeah, sure you take it easy Take care of her until What is it? I'm sorry mr. She's dead. Oh Here's our star to tell you about tomorrow's intriguing episode of this week's story tomorrow trouble comes early and stays late Join us. Won't you yours truly Johnny dollar a Johnny dollar starring Bob Bailey is Transcribed in Hollywood written by John Dawson. It is produced and directed by Jack Johnstone Be sure to join us tomorrow night same time and station for the next exciting episode of Yours truly Johnny dollar Roy Rowan speaking


I am Jamie Devine. I serve as the Treasurer for the North Columbia Business Association. We're the Business Association, the central governing body for businesses here that are north of Maine down this corridor pretty much to I-20 and over a couple of streets. And so we're glad to be here again to welcome another business along the corridor. We've been diligently, along with city officials, recruiting businesses to the area. And so we are appreciative of those who are here. We thank the business owners who saw fit to invest in this community, who saw fit to invest in this area. And without further ado, we will have a program today and we will have several of our city officials to come before us. And we will first have, then we hear from the owners and those associated with the business today. And then we'll have the ribbon cutting at the end. We won't hold you long. So at this time, I would like to introduce Sabrina Odom, who is Sabrina Odom Edwards, who's our executive director of the North Columbia Business Association. We do have one board member with us, Kenneth Robinson from Optus Bank. He's also board member of the North Columbia Business Association. Kenneth, if you raise your hand so folks can see you. He's also a member. I don't think any of the members of the North Columbia Business Association is here. And we wanna thank them and their absence. So at this point, if Sabrina, if you would come forward and I'll come back with some additional remarks. Thank you. What a humbling moment it is to stand here in front of this wonderful crowd of community people and guests to mark this very special occasion. Thank you for being here. It's my sincere pleasure to welcome you all to the ribbon cutting ceremony for good vibes, paint and sip. As you can clearly see, it's an exhilarating time in the Noma Trestle District. Today's ceremony highlights a tangible reminder of our mission for the North Columbia. This is made possible in part by our unwaverly commitment to never give up. Never give up. Reaching a major milestone like this can only be achieved through incredible teamwork. I am honored to work along some of the best in the business and want to publicly acknowledge the dedication and commitment of our mayor, city and staff. And in particular to our incredible OBO office for their extraordinary efforts this past week to get this ribbon cutting ready for today. As a board, we are tasked with envisioning not what tomorrow holds or even what next year holds for our corridor. We are entrusted with directing the future of the Noma Trestle District. 10 or even 15 years from now and we can't do this without you. Welcome, welcome, welcome. Thank you, Sabrina. Sabrina's been our executive director since the opening, a start of NCBA and so it's been about 10, 15 years now, Sabrina, that you've been at the helm and we're 15 years. So we appreciate Sabrina's support and her vision to and make NCBA come to fruition. So without further ado, I'd like to introduce our honorable mayor, Mayor Daniel J. Rickerman of the City of Columbia and after Mayor Rickerman, we have Councilwoman Audity Bussells who will come before us as well. Councilwoman Tina Herbert was scheduled to be here but she has a funeral, could not be with us today. So if Mayor Rickerman would come and then Councilman Audity Bussells will come after him. Thank you. Well, it's another great day in Columbia. Here we are in the North Main Corridor opening in another business. It's very exciting. I wanna thank you for your investment, your thoughts. As we were talking earlier, you know, one of the things, the great things, I think the North Main Corridor is our new corridor where investment's coming. There are not many places that people can open up a small business, walk out on the street and point at the state house. There is nowhere in America that you have the ability to do that other than on this stretch and I think that's an incredible thing as we continue to grow and bring in variety of different businesses. It's not just restaurants and retails, it's service industry and having a place that we can come paint and sip and for those of you who like to sip more than paint, that can be arranged as well but I think it's an incredible investment and it's a great asset to this community. We're so excited that y'all made this decision. We're excited that you're here and as we continue to open up Columbia and work collectively together as a community to grow, I think this is so exciting and we'll continue to work together to keep bringing more neighbors, more awareness, looking forward to being able to push this out on social media, another great meeting spot for people to come here in our NOMA area. Thank you Sabrina, thank you Commissioner Devine for what y'all do on the North Maine Business Alliance because it is important that we continue to work together and having advocates continuing to show people all the great spots that we have opportunities for investment. With that, I will yield the microphone to my colleague, Dr. Audity Bussells. Good afternoon everyone. I am a little bit biased because this is my favorite neighborhood. I can walk here and I cannot wait to walk to do a little more sipping than painting, he's right. But I think it really speaks to how many people want to see Columbia be a vibrant place, a place that's walkable and connected and has a lot to offer beyond some of the typical things you may think of a city has. And so I'm very excited to see a minority owned, woman owned business come to North Maine. And I look forward to, and I look forward to working with Councilman Herbert, the mayor and all of my colleagues to continue to build out this corridor to be a place that people come to visit whether they were born and raised in Columbia or they're just passing through. I think that this area has limitless potential and you're already starting to see things change. So congratulations on such a special day and I can't wait to maybe paint my dog or something cool while I'm here. Thank you, Mayor Rickerman. Thank you, Councilwoman Bussells, Dr. Bussells. We appreciate your service to this community. Appreciate what you guys do to ensure that we have the best of the best in the city of Columbia. Also, I want to introduce to our business owner and her guests. We first have Ashley White, the project manager. Then we have Mr. Jetta Bostic, the executive assistant and then Ebony Livingston, who's the actual owner of Good Vibes, Paint and Sip, Event Venue. So ladies, in the order that you'd like to come. I guess it's me first. Good afternoon, everyone. Thank you so much for being a part of this day with us to celebrate a great woman who has a great vision for this wonderful business. My name is Ashley White. I am the project manager for Good Vibes. When Ebony came to me and we talked about this, we just knew that it would be great for everyone. This is a place for everyone to come, paint, sip, create your own vibe. It's also an event space. I want to elaborate on that as well. So we do paint and sip. That's what our house specialty is. However, you can partake in having this as a private event. You can actually do your meetings here, conferences here, baby showers here, birthday parties here, or you can just come and hang out with your friends. We want to make sure that this is for everybody, all communities, all neighborhoods, all people. So I want to thank all of you guys for being here. And at this time, I'm going to introduce you to our executive administrative assistant, Mrs. Ojeda Bostic. Good afternoon. My name is Ojeda Bostic, and I am the mother of this young lady Ebony. As we cut the ribbon here today, let's tie the knot as businesses and as community to encourage and support each other. We look forward to building a camaraderie relationship with each one of you. Thank you for your presence here today. Our vision is to change some lives with good vibes. Thank you. And at this time, we would like to introduce to everyone the owner, the visionary, the newest member of the Main Street Block, Noma's newest member as well, Mrs. Ebony Livingston. Good morning. I would like to just start out by saying thank you to all of you for coming out today. I would like to thank the city of Columbia and our mayor. Where you at? There you go. Thank you, Noma. I would also like to thank Sabrina, Edwards of Noma and Carolina Colonel. They weren't able to be here today for their continuous support. I also would like to thank my family, my friends, my team. I could not do this without you. I would also like to thank TPM Printing and Curt Construction. Y'all brought my vision to life. It is definitely an honor today to be the newest member of Main Street, and I am so excited about Good Vibes' future here. The doors are officially open, and we welcome each and every one of you to return back here to have Good Vibes. And again, thank you all for coming out today.


Oh, thank you! So much energy! To I got the longer leash! Go! It's a federal crime to bring an animal to a public land recreation area on a leash longer than six feet. Got him!


We're back. We're live. It's the 11 o'clock block here on Think Tech and we're doing global connections with Carlos Juarez in the University of the America's Puebla in Mexico. Fifty miles, I get this right now, Carlos. Fifty miles east of Mexico City. Carlos, say hello to the people. Aloha, hello and welcome. Joining you here from Puebla, Mexico. Yeah, great to have you on the show. And Jean Fidel, my brother, fresh from Yale. Aloha. And today we're going to talk about Brexit and its international implications. Things are not going well for Theresa May. So Carlos, why don't you lead off?  Why don't we hear from you on that? Yeah, thank you, Jay. Of course, we're facing a very critical moment now in the issue of UK and its decision to exit or divorce itself from the European Union. So I just wanted to share maybe a quick overview and provide some of the context. What is this Brexit issue? What is the EU for that matter? We can go first to the number one that I have here. It's a little paper brief chart that describes the thing the European Union, of course. It is a political and economic union of 28 countries bringing together a partnership, a unique partnership that's been in the works for many, many decades. And really its origins begin in the 1950s. But what we know today as the EU is formalized in the early 90s, 93, by the Treaty of Maastricht. However, again, before that it was evolving. And for our purposes, we're going to talk about the United Kingdom. They actually joined what was then known as the European Economic Community in 1973. They were not the founders. They were a smaller subset of six countries, Belgium, Netherlands, Luxembourg, France, Germany and Italy. But the UK would join in the 70s rather reluctantly and with a lot of skepticism because that becomes relevant when we look at their crisis today. But what is the EU again? It brings together these countries that are all democratic, obviously promoting peace and prosperity and freedom, about 500 million citizens of the EU. And this is a very short time that one of the member states has decided they want to exit. And so the so-called Brexit refers specifically to a referendum held in June of 2016 in the UK that barely passed but had a majority who decided to exit. And over the last two and a half years, almost three years now, but especially the last two years they have been negotiating with the EU officials to figure out what kind of deal they could arrange, what would be the future relationship. Well, let me turn to number two. We're going to have a map of the European Union itself that just shows the 28th member state and it also briefly shows the years of that session. So it started with six and then nine and then 12. It was the UK joining in, as I mentioned, 1973. And so this map just gives you a sense, it is most of Europe. There are a few exceptions like Switzerland and Norway that are not members. But for the most part, it brings together both today of Western and Eastern Europe, Northern Europe and the Southern Europe as well. Let me move very quickly. I'm going to go through a lot of these slides just to give us this context. Number three illustrates what we would call the Schengen. Schengen refers to a treaty also that basically provides for the borders, of the outer borders of the European Union, that allow for the free movement of people within those borders. So today, when you're crossing from France to Germany or Spain to, you know, France, officially it's like going from a U.S. state to Oregon. There are no borders, checkpoints, free movement of people and goods. However, that's just been a source of some tension and the rise of a lot of anti-immigrant sentiment. And in the case of Britain, the UK, a desire to want to control some of who gets into the country. So this Schengen just illustrates again, it is a concept of the free movement of people, et cetera. Let me move again just to get us to have more of a discussion. I want to show another map, number four. It is a map of the United Kingdom itself. You have to understand that it is a collection of basically more countries, if you will. You've got the England, the dominant main power. You have Scotland to the north, Wales on the western side of the island. And then across a piece of the other island, which is the northern island. And that we'll come back to because that's one of the picking points today about their decision to exit because the other majority of that island is the Republic of Ireland of separate countries and also a member of the EU. Finally, let's move on again just to give us a little more of a context. The number five graphic I have is a map that illustrates the Brexit referendum and the results that were held in June of 2015. And again, it did pass as a majority and it surprised many. It was a big shock, if you will, because it was uneven. And by that I mean it was, on some level, a generational difference. A younger population voted mostly to remain and did not want to exit. But also more rural areas, particularly of England, because as that map will show you, you know, we vote in Scotland, for example, and in parts of Wales, and even London were against Brexit. They preferred to remain, but the majority prevailed. And so the results were in favor of Brexit or exiting the UK. Finally, let me move very briefly to number six, because this is where we see one of the picking points. And we'll talk about this a little more, you know, what is this Brexit, the exit. One of the picking points has been the question of this border between Northern Ireland, which is part of the UK, and the Republic of Ireland, which is a separate country. And, you know, with the UK deciding to leave, there is a, you know, no longer being part of the Customs Union, of the single market. What does that mean? What would they have to, you know, for example, put up customs checkpoints, borders. And this is a, some of us will know the story of beginning in the late 60s and all the way until 1998. This is a region that experienced a lot of violence, the Terran violence between, you know, different groups. And it took a lot of negotiating. And in 1998, they reached the North, basically a set of a court that basically, you know, solved and addressed a peace agreement. And today, those borders are open. But what's going to happen after you leave? That's kind of the picking point. And again, I'll come back to this later. Lastly, and we'll allow us to now move to just talk more about this. I have a picture number seven. It just shows Theresa May, the Prime Minister, who became the office shortly after the Brexit referendum in 2016. Because after that result, the then Prime Minister, David Cameron, who had supported remaining in the EU, he basically lost the confidence and lost his feet and set down to be replaced by Theresa May. And she has been negotiating this exit. It hasn't gone well. She's in a deep crisis now and just returned, you know, days ago from meetings with the EU officials to try to offer another deal. And just, we saw the results today. And just yesterday again. And so they do not have a deal. And they don't know exactly how they're going to exit. And here we are with a crisis just a couple of weeks away from the date that was set for them to depart. 29 March. Let me stop on that. I want to turn to some of you guys. And maybe you guys can take it for a minute. And we can follow, continue the dialogue. What are the implications? And maybe clarify some other parts of what's happening so far. Jim, can you help us with what the crisis is? What are the factors? What are the arguments? What are the constituencies? Well, I think Carlos has laid out the demographic issues within the UK. I'm less familiar with the demographic issues on the continent. And of course, you know, this whole exercise is like playing Hamlet without Hamlet because Mr. Putin and Russia are an active, maybe too active observer participant in this process. And beneficiary. And beneficiary of the chaos. But I wanted to make a couple of observations. The first is on the domestic side, in terms of the legal institutions of the UK, then Carlos, please correct me if you think I've got any of this out of focus. But what we have here is a set of stresses on a variety of the domestic legal institutions of the UK. For example, this was a decision that reflected, the Brexit decision was reflected the results of a referendum. Well, referendums are not really a regular part of the British constitutional arrangements. Parliament is sovereign according to the unwritten British constitution. So why is there a referendum? And did the conduct of that referendum undermine probably the cornerstone of the British legal arrangements? So that's one observation. The second observation is the British courts have gotten involved. There was litigation over whether parliament, the referendum having occurred, could continue to play a role. And that went to the UK Supreme Court, a relatively new body, although its roots are in the centuries-old House of Lords. So that's another one. My own sense is that what you're seeing here is one of those cataclysmic events that occurs roughly every 100 years in the UK. The first one that comes to mind, well, I'll start with the Union of the Crowns of Scotland in England. I mean, that was 16.0 something that created the current basic arrangements. A century later, there was the act of settlement and it became the United Kingdom of Great Britain in Ireland. A century plus later, in about 1832, there was reform of parliament. Parliament had been filled with rotten boroughs that were run by the major landowners and noble families. About 80 years after that, I think the year is 1911, something like that, where the House of Lords lost its power to do anything more than really slow down legislation. And then we have this controversy. So there are roughly 100 year intervals. Maybe it's like sunspots, but this may be the mother of all challenges to the basic British constitutional arrangements. You provided some good context. It's fascinating because traditionally, for many years, we look at the UK, their system of government, the Westminster model of parliamentary democracy. It's very stable, very orderly. It's long been looked at that way in the field of comparative politics. Today, it's in deep crisis and chaos and the weakness that we see of the current administration there. But I want to just maybe add a little bit of what you've mentioned. Given this, what's interesting, when this referendum took place, which as you notice, it's not a regular affair for the system of government there, it was also one that, I think, we may find out more in time, but was there involvement from outside forces and the use of social media to sort of manipulate public opinion and specifically thinking about whether there was Russia involved, because we know that they've been involved in the US and in other places as well. But certainly it is creating a serious crisis of not just for the UK, which the implications are, it could have a downturn of the economy and just the polarization of the political environment. But even for the European Union, because for many years, it has been moving forward, expanding and deepening, so that today the citizens of any of these countries are governed more by EU laws and EU rules. And of course, that's one of the reasons that was pushed by those seeking the Brexit, that they wanted to have less control from Brussels and the EU and more control over their own, let's say, rules and sovereignty. So a lot of it is driven by that. But it's a moment of real crisis for the UK, but also for the EU, because they don't want to see this and they don't want to make it easy for the UK so that others could potentially follow suit and see the infection from Poland or Hungary or from other countries. So the process is one that requires a lot of negotiation for the UK to leave.  I think I see figures 35 to 40 billion US dollars equivalent, basically as commitments that they have, obligations they have to make. And then the real sticklers are including what economic relationship will the UK have? Will it be completely out or will it be somehow some form of a ranger where we'll have access to some of the market and there are different views and the different camps about this. Let me finish by saying also that it's not such a neat, we have the Brexit here, the favour exiting and we have the remaining side, but it's not so black and white in the sense that there are some who favour a very hard line, maybe hard Brexit, complete separation. We'd like it to be a more softer version where there might be a relationship that stays and it's not so deep, but that doesn't satisfy others. There are still some who would argue today they would like to have another referendum to somehow revisit the whole question because today we see the chaos that has been gendered and for many people who voted maybe that they would rethink it and one scenario that could it all be reversed? They just go back to where they were. I'm not sure that's in the cards at the moment, it's still on the table, it's still there, but yeah, it's interesting, this is the concept of the referendum that hasn't been the norm in the British system, but here we have it today and a lot of uncertainty, a lot of chaos. So it's sheen again, Carlos. Thinking about the referendum a couple of months ago I was in England and I had dinner with two members of the House of Lords. I'm not going to identify them, I'm not going to identify them private conversation, but I asked them where they thought the path led and what would happen if there were another referendum. And as of a few months ago these two legislators, their life peers and they're not their hereditaries thought that the result would be the same. That Brexit would be approved yet again. Do you have any more recent information and more to the point, what are the bedding, the labrokes, the people who give odds on these things saying? I haven't seen a lot of detail on that but my sense is that you're talking about two members of the elite House of Lords and do they represent the society at large? My sense is that maybe speaking more for maybe the younger generation I'm more in contact, I've had students here from the UK and for them it was really a an outcome that they were quite dismayed to learn because of course the younger generation are more mobile they have opportunities to study and work in in ways that change of that or exit from the European Union will obviously jeopardize. But it's one of those things, as we look back at that referendum, it was a rather quick process and it was one that the campaign itself for those who promoted Brexit it was presented as a pretty straight forward and easy process and somehow it wouldn't have the kind of cost that we are now seeing it will have. So I don't know I don't have a control, I don't want to speculate or even guess and I haven't seen evidence of it but certainly today there are some who are going to say, gosh we didn't realize it was either this or that the potential was that it might go worse. So let me interrupt with a question. So Mrs. May has repeatedly gone to Brussels to put one reframing after another of her negotiating position in front of the authorities of the European Union and she continues to come home empty handed. Now my question is and I have a hunch about that. I'll tell you what my hunch is after I give the question.  In other words in this kind of kabuki is it kabuki on both sides. Is she going there just to show that she's given it you know her best efforts or alternatively are the people on the European side the European Union side putting up objections in hopes that Brexit crumbles and that in fact Britain will stay in. I mean who is kidding whom here? Yeah What a great question. That's a great question. I'm going to give you one minute to think about the answer. I think you deserve a minute for that and then we'll come back and we'll discuss this further we'll take a short break. Hi I'm Rusty Komori host of Beyond the Lines on Think Tech Hawaii. My show is based on my book also titled Beyond the Lines and it's about creating a superior culture of excellence, leadership and finding greatness. I interview guests who are successful in business, sports and life which is sure to inspire you in finding your greatness. Join me every Monday as we go Beyond the Lines at 11 a.m. Aloha. Hey Aloha my name is Andrew Lanning I'm the host of Security Matters Hawaii airing every Wednesday here on Think Tech Hawaii live from the studios. I'll bring you guests I'll bring you information about the things in security that matter family safe, keep our community safe we want to teach you about those things in our industry that you know may be a little outside of your experience so please join me because security matters Aloha. I'm Jay Fidel of Think Tech our flagship energy show among the six energy shows we have is Hawaii the state of clean energy it plays every Wednesday at 4 p.m. come around and see us learn about energy keep current on energy on kawai.com Okay we're back with Carlos Juarez in the University of the Americas Frabra and my brother Jean Fidel from Yale talking about Brexit and as we left it there was an important question hanging and Carlos was going to take a minute to think about it so what is your response Carlos? Yeah well you know it's not such a quick and easy answer let me say that on one hand for you know the perspective from the European Union are they jerking her around or not I mean I think they want to make sure it's not easy or simple or without pain in other words they do want to be firm and if anything I would say the perspective we see is that they are blaming the current let's say predicament squarely and directly at the UK and the fact that the parliament did not decide or rather was never consulted about what kind of Brexit it wanted before the negotiations began in other words even though everyone knew the MPs would have the final say there really was not a clear debate or discussion that clarified that role and so on one hand I think it's pretty clear that the European leaders are disappointed with how it's played out and again that they don't want to make it easy maybe they would on one hand there are some who surely would like to see it all just somehow crumble and then the UK just decide well okay well we regret what we did and we'll just go back to where we were because even that outcome is one that you know it's not going to be easy if we would present you know some heads would have to roll I don't know but I have a sense that from the perspective of the EU they're saying look the onus is on you you're going to leave you got to decide what are the terms and I think regretfully Theresa May has just not been able to play that role she hasn't been able to keep some of her own supporters in line moreover it's not a simple her party supports this and the other party doesn't there's a real divide even within the parliament you have many in the Labour side who very much are supporting the Brexit maybe variations of a soft version you have even in the last couple of weeks after the recent crisis I think it was after January but maybe within the last month we saw defections from both the Conservative Party and the Labour a small faction that was being a separate sort of more independent group that could hold the cards and some of this you know and so at the moment just a real chaos and uncertainty prevailing in the British parliament and all the while Theresa May just looking more and more weak she goes down there she visits Brussels or Strasbourg a few days ago and just comes back empty handed and I think again for the Europeans they're like hey you've got to figure this out and they're holding pretty firm they basically want to make sure that they stay unanimous in their agreement and so they don't have defections among themselves and so far that's been the case the EU has been pretty firm shouldn't Theresa May simply resign shouldn't she drop out and if she did would that help because we have the deadline ahead of us yeah I think she's got to quit I think she's got to resign that she can survive now two major votes you know lose two major votes and still pretend to be Her Majesty's First Minister I mean is crazy actually and I think she's doing incalculable damage to the legitimacy of parliament but I want to ask you a question Carlos do we have any sense of where the palace stands on this is that a complete black hole it is for me in part because there's been for many years a tradition where they tend to stay out of giving their views about this and so when you mentioned that I don't know I haven't seen any kind of real role or proposition or anything obviously they're going to have concern about not seeing fall apart and then the political crisis that exists now I agree Theresa May I mean her days are clearly numbered she's not going to be able to bounce back from this and gain a lot of support but when does she step down I mean is it right now to kind of try to cobble together yet another deal the more immediate the likelihood and what the scenario that we're facing with the 29 March deadline is that right now I understand tomorrow Thursday they're expected to have a vote whether to request an extension or buy a little more time kick the can down the road and again here again you know will that help or is it just buying more time for the same thing but basically when we look into the future here of various scenarios the worst case that nobody wants which they rejected today was no deal that they exit with no deal because that and you know just everything kind of it doesn't give them a transition period it just the non-starter for many is there a further vote we've had that already is there a renegotiation that's been going on to no avail is there another referendum again there doesn't seem to be a lot of groundswell for that because of challenges there is there a new election that basically a vote of no confidence that brings down the Prime Minister and kicks in a whole another dynamic or is there a scenario for a no Brexit where they simply reverse it again any of these could happen and we have one more election can you take a look at trying to wrap this up yeah I mean I think what we're looking at is a train wreck and there's going to be major institutional injury lasting institutional injury that England is going to feel the Brits are going to feel for decades and how about the US going to feel any of that we have our own problems Carlos last statement what would you like to leave people with what message just this last point you raised about the US because even under the Brexit there was this idea and even under Trump's new presidency that somehow he was going to make better deals and special relations with the UK I think there's a crisis that we see now even makes it harder for any prospect of a US UK agreement just because of the chaos and uncertainty that's unhappy here so it's anybody's guess but the scenarios don't look good many options all of them pretty tough and bad ones crisis uncertainty chaos so far the only winner is Mr. Putin well thank you very much Jean Fidel Carlos Juarez for this important discussion on Brexit I hope we can revisit it soon and I think everyone should be following it I'll see you guys


My dad talked about it Friday, but if you didn't check out the program Friday There's no words man. The saddest news that our man Dave White passed away last week You know it kind of really hit me when I found out Friday man It's been hit me all weekend and I know it's hitting all of us and you can't kick off the show in regular fashion Man, it's just been on my mind Dave's been a fixture at TFNN and all of our lives for I got to find the date man I think like 15 plus years every single day and unfortunately he did his show last Wednesday folks and And When ended up happening was so my dad we found this out and I'm trying to like go through it, right? But you got to take a moment man because our man Dave gonna miss him tremendously I know everybody in the Tigers then is gonna miss him tremendously a lot of great posts over the weekend just talking about Dave The man he was the the Educator trader the genius that he is was and say is right. It's like it's still just amazing Just hit you and so unfortunately what happened was is that Thursday morning? Jacob usually publishes his newsletter Dave sends it over to us We publish it up for the website for his subscribers to the path of least resistance and Jacob hadn't heard from Dave by the market open and So shortly after my program I talked to Jacob He let me know he hadn't talked to Dave and right away folks. I knew that I was very worried on Thursday because Dave is meticulous man and You know in the best way I say this sometimes He would drive us crazy because he wanted his newsletter out ASAP because he cared about his subscribers so much folks that he wanted that information out To you as fast as possible and I knew right away that there was no way because he cared about his subscribers so much that he wouldn't reach out to us and not do his newsletter unless something was probably wrong and Unfortunately, it was a worst-case scenario That it went to and so what ended up happening was is that we couldn't get a hold of him Thursday He didn't do his show which even made things more worrisome. It's never happened to 15 years folks So you know I saying you know I was so worried for him because I knew that this was something that hadn't happened in almost two decades Next morning rolls around Friday. We didn't hear from I said, you know, we got we did a wellness check sent the cops over there His apartment was empty And there was a note on the door that somebody had been walking his dogs So the cop who had went there and he went there pretty quick from the wellness call They were there within about a half hour. The cop called me Dave had lived in Largo so not far from many of us I mean we have hosts all over the country, but Dave just not far from our office I called and the cops said, you know, somebody's leaving a note on door that they're walking the dogs So somebody is aware that he's not at home and he said the blinds are open. It looks like nobody's there And so at that and the cop was very helpful But there was only so much they could do at that point with us not being his next of kin as well Because then it gets into a deal where even when you call around to hospitals folks If you're not the next of kin, they really can't tell you and that's what the cop told me said listen I could go to the hospitals, right? I could be start doing this But even if I find anything out, I'm not gonna be able to tell you anything Unfortunately, so I started calling some hospitals myself anyway, but I sent Jacob over to his home To try and number one maybe leave a note from us So whoever was leaving that note walk in the dogs might be able to call us and let us know maybe where Dave was and Jacob knocked on a couple doors and he found a gentleman that just happened to be outside of his apartment and that gentleman Let us know that yeah, unfortunately There was something that happened Wednesday night that had a medical issue where Dave did have to go to the hospital Very worrisome, of course where some of our worst fears are getting confirmed. So that was middle of the day Friday we put a Note on the door Jacob put a note on the door and a neighbor of theirs his called me at about 3 30 p.m. Eastern Time Friday and Unfortunately, let me know that Dave passed away. And so what happened was is he is he had a heart attack Wednesday Just shocking man as I go through this and and it's like man. I was trying to prepare for this all weekend, you know and and Dave's a friend. He's a co-worker and you don't realize sometimes man when somebody is gone How it's gonna hit you and and what they meant to you right and Dave was a great guy man He's even saying it does a disservice of how great of a guy He was in terms of his time what he did for people the stories over the den over the weekend Just hearing how he would spend hours with some people never talked about it, right was in there all the time I'm not certain of his age, maybe my dad might have it and we'll have it and we'll get more information folks And as we get I believe it was around 58 years old. Yeah 58. Okay, and so over the weekend my dad received an email from one of Dave's nieces who is his next of kin and So he was able to get a little bit more information and it's a tough one folks because what ended up happening was is that Dave? Did his show live from 2 till 3 p.m. Eastern time And we have a post up on the front page of TFNN if you want to check it out Just a beautiful picture man of Dave the smile he had man the eyes he had right There was a great Interaction on Wednesday on Dave's show with a caller I believe Steve from Austin It was just great man the smile on his face and so that that picture is from Wednesday I mean that picture is from Wednesday between 2 and 3 p.m. Eastern time So what happens he gets off the air and this is in my dad will be doing a show today And I'm sure he'll talk about it as well And here's the bummer of it as if it's not a bummer But it's even worse than you can imagine folks because Dave felt like something was wrong with him And he actually went to the hospital Wednesday night and I don't know which one he went to yet He went to the hospital Wednesday night because he was worried about how he's feeling and they actually sent him home Man, it's so tragic to even tell you man It's like heartbreaking a million times over right and they sent him home And he had a heart attack literally as he was putting his key in his door to get back into his house Man, it's like I'm breaking up. He been talking about it's like how is that fair man? Whoo, man So unfortunately he had a heart attack and he passed away in the early hours of Thursday Yeah, so You know, we're gonna go on today man, we'll be thinking about them all day today We'll be thinking about it for a long time man. It's it's it's it's a it's a loss. He was a genius He just understood so much of the markets and you know options Max Payne, you know the volume analysis He helped my dad with the art of taming the trade charts built that program out completely Then yeah, you know, it's like as my dad said in this program Friday, man It's like yesterday's gone tomorrow's not here. What are you doing right now, man? Because you know, everybody It's so easy folks to worry about tomorrow You don't have to because what's the point because you don't even know if tomorrow's gonna come man So live for today and boy, you know The story about going to the hospital and then send them home It is a tough one folks and that is freaking tragic beyond belief Because you don't know what would have happened, right? But boy if he's at the hospital He's obviously got a much better chance and and it's just damn man exactly just total BS that they did that You know what's going on, but he felt it he knew it something was going on and they sent him home man And he had a heart attack and unfortunately he's gone So we're gonna try and carry on today folks. I appreciate all the kind notes and all that stuff man boy Oh, it is a tough one. We love our man Dave White.  We'll talk a little markets. We'll be back If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and Technicals sign up for rocket equities and options report today with a 30-day money-back guarantee So you have nothing to risk for all the details and to start your subscription today Visit the front page of TFNN comm TFNN educating investors Everything in the universe is governed by the Fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24 7 newsletter at TFNN.com When you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento On stocks you need to pay attention to and you can trust Larry's analysis After all he's got 45 years experience as a day trader Larry will also provide daily charts videos And data on the key markets that he's tracking expect notifications from Larry on market movement You need to act on at any time first time subscribers also get a 30-day money-back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24 7 newsletter today TFNN.com educating investors Steve Rhodes started his trading career as a student almost 20 years ago And the student has now become the master Steve won the prestigious timer of the year award in 2018 And barely missed that mark again in 2019 finishing it number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon Sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNN all our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today TFNN educating investors TFNN has launched the tiger's den hosted at discord TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours The tiger's den available to all tigers and tigers is for just one dollar for the year There's no catch or added costs when you join our community of traders Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com Welcome back folks and boy just dealing with it right sell when you can not what you have to what a great saying man It's so true. Oh man, Dave. Why so true sell when you can not when you have to folks I was thinking about that all weekend Um, it's a tough one man. I couldn't even pull together really those You know read all the kind words and the den man.  Um, and the interaction he had with the caller on Wednesday was just awesome And yeah, such a bummer going to the hospital man.  I say that in a great way And it's just such a bummer man Back to the markets and you talk about a weekend, man How about it, right? Uh It's another day another insert bank name insert tried to do everything we could uh bank bailout does not reassure Markets we're gonna see how it plays out, man. But boy things started uh accelerating pretty quickly yesterday UBS first it was a billion dollars credit swiss was pushing back on that one Then it was two billion dollars. They were talking about now they're buying them for 3.3 billion dollars But on the hook there You got something like 9 billion dollars that the swiss government is going to call Yeah, uh, UBS while the government is granting a 9 billion franc guarantee for potential losses Okay, uh What it boils down to is this company is basically worth negative 6 billion dollars because they're buying the company for 3 billion But you got the swiss government guarantee and 9 billion dollars of the losses Quite a weekend how quickly things go and things haven't even happened yet, man As we take a look at what's going to happen overall and one of the biggest stories out there might be this story, man In terms of the bonds getting wiped out credit swiss is 17 billion dollars of risky bonds are now worthless So UBS to be uh agreed to buy Credit swiss right the government's support is going to trigger a complete write down of the uh, at one tier bonds which they had 16 billion swiss ranks or 17.3 billion dollars worth of risky notes And Where's the chart? I got this up on a couple occasions. Which one is it? Because you got to see the chart, man Is this it? Oh, come on Here here it is uh This is dutch banks 81 bonds, okay Yeah, you better believe that the market is about to wake up to the fact that 250 billion dollars worth of bonds that this market holds They might be worthless folks because they just got wiped out and they got wiped out ahead of Some equity holders. So where you are in the debt? Structure is pretty tough when you think about equity holders. Not sure how this one's going to shake out, but it's a big one Um, what's shocking is that it looks like equity holders will receive a better than tier one bond holders Not usually how it how it happens, but it is in that prospectus out there The resulting losses will likely prompt individual and institutional investors to sell similar securities at other european banks Not sure the yield is what you're looking for, man Yeah, demand was hot enough in august of 2020 that when credit swiss launched a 1.5 billion dollar 81 deal With a 5.625 interest rate It received more orders than it had bonds and barring the rate down to 5 and a quarter percent Things changed quickly, man. I mean the price on these i'll try and find the chart on these At the beginning of the year these were trading at basically 100 par And i'm talking about for credit swiss now Yeah, yeah, and these uh 81 bonds. Let me see if i can find Because they are a creation of the financial crisis from 2008 That's when they kind of came about See if I can find if it's in this one or not So that's going to reverberate and it's going to take some time because you are seeing Some huge selling I imagine because I ain't holding those bonds, man You holding those bonds are you holding debt that's going to get wiped out ahead of equity holders? That might be the biggest one here because what's so crazy about this right is that if they were able to facilitate a UBS buyout of credit swiss They lose no Value those eight you might get full value and honor But because the government had to come in for a bailout they get wiped out completely and you know what hey That that's that's the deal man when you're when you're putting debt up for a company That's worth technically negative billions of dollars, right? I mean imagine this company was worth what seven or eight billion dollars as the close of friday They couldn't even sell the company for a couple billion dollars over the weekend They had to guarantee nine billion dollars in losses for somebody to buy it for three billion Meanwhile, it was supposedly worth seven billion on friday This isn't stopping folks There is no reason no matter how much somebody tells you that your money's safe And you have money in a bank that might go bk and you're you're over the insured limit Why would you ever do that? I read a story over the weekend Uh The basketball star giannis and I can never pronounce his name onto Kanupu no, it's all blew that one. Um, giannis will call him right MVP a basketball star. I'll find this one too. This guy had 50 bank accounts so that guess what? He was never over the insured limit brilliant Why would you ever trust a private business with over 250 grand that's not insured unless you're sure it's going to be fine Why not just spread that money around? Well, you know, it's not always as easy when you're doing business as a as a company like roku But man putting 500 million dollars with the private company that's about to go bk Yeah, we all know how that plays out in pretty dramatic fashion. Um Then we're gonna see how it's played out. I haven't even jumped around to the charts yet, right? Let's take a look at the charts, man.  It was quite an open last night in europe You check out the action We were actually below 3,900 for a brief moment Boom just like that you get back almost 70 points from where we were you hit a low at 4 a.m 38 97 we just traded up to a high of 39 65 almost 70 points And right back to where the market opened we traded down almost 90 points from 10 30 last night To 3900 we're back at 39 60 man And it's not over folks to say the least you jump over to some of the other equities In the banking world first republic I was joking with a friend that you know friday the headline was We bail out first republic and not sure it's gonna Calm markets today the headline is you know that Credit swiss gets bailed out by ubs and their government and i'm not sure it's going to calm the market You got first republic down another four dollars folks. What's that 15 percent out there? Let's see some of the other banks because first republic is the Yeah, first republic is in its own entity right now because you look at some of the other ones that have gotten hammered You got pacwest trading higher that stock had been getting clobbered recently um What were some of the other ones is one in particular right it was first republic pacwest um But yeah, be careful man first republic they got 30 billion dollars on thursday the stock pushed 40 dollars and just like that We're opening under 20 dollars this morning at 1889. Let's see how our big banks are trading right now JP morgan higher from 123.  Let's see how schwab is trading this morning Yeah, schwab is higher too first republic might be its own mess and they might be the next one That's going to implode the next 24 hours. I would not have money. Would you have money in there? If you let's put it this way Well, thank you. That was the one I was thinking about western alliance. Thank you tiger j up three bucks as well If you had money in first republic folks above 250 000 get it out Get it out. Why not? S&P's up by seven. It's going to be an interesting open folks. Stay tuned. We've got a half hour left of the program Opening bell coming up next stay tuned folks Building wealth trading in the stock market seems impossible to most people They think it's too volatile and risky most people aren't going to take the time to educate themselves on how to do it Right, but you're not most people. Are you at tfnn? You'll get the guidance you need to refine your strategies and technique to invest like a pro because you'll be a pro All tfnn subscriptions books software and courses are available at tfnn.com And i'm even going to tell you how to get them for less Use tfnn's tiger dollars and you'll get up to a 20 bonus on your purchase And once you apply them to your account tiger dollars are automatically used for all future or recurring charges Tiger dollars also never expire are fully transferable and are a great way to add savings to your newsletters or services Become the investor you were born to be at tfnn.com tfnn educating investors tfnn has just launched their new trading room the tiger's den Hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the tiger's den available to all tigers and tigers for just one dollar for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tigers den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority in technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel And become the investor you were born to be tfnn educating investors This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Welcome back folks. We kick off the opening bell with first republic down 19.67 percent right now s and p's positive by seven We're gonna jump around to europe. We're gonna jump around to asia asia down dramatically europe up this morning But boy the day is young we're 40 seconds into the trading week and it's fed week almost lost in the shuffle not lost in the shuffle but man When you get the banking crisis going on now the talk is are we going to pause is the fed gonna pause I heard the conversation this morning. So we just got the ecb last week right they go 50 basis points That hints to our market at least that The federal reserve is probably To some degree on the same page as the ecb with this being a global banking crisis basically that's unfolding in front of our eyes So we'll probably go 25 but things are uploading a little bit quicker Then you may have anticipated and i was reading a couple articles this weekend po people posting in the den About maybe the feds gonna pause i'll find that bloomberg article that i was reading yesterday about it And maybe they do man. Maybe they pause and they give it a month or two while they make sure that The banking crisis isn't gonna collapse i mean Inflation is a massive problem. You're seeing that the banking crisis is a massive problem as well And we're probably in a restrictive rate right now as in the rates where they are are probably restrictive to a certain degree If you let it play out long enough right and we don't want to wait that long as and we don't want to keep rates Where they are for marginal restrictiveness The goal was to get it really restrictive bring down inflation and then you can always cut if you need to So would it be the end of the world if they were going to go 25 if they pause for six weeks To make sure the banking crisis isn't a complete last no probably not We don't know how big of a mess it is now. This is the perfect segue to the next article. Okay So this is from bloomberg it's the big take And It's out this morning as of just before I came on the air. Okay, I was literally just pulling this up Before I came on the show and the kicker in here is folks is that when the government told them They had a 50 billion dollar backstop. They already knew it was done They already knew it was done So who knows what is already done right now that we have been told because they already knew That credit swiss was done when we heard they had a 50 billion dollar backstop from the government on thursday Was the ceo on bloomberg that day does anybody remember what morning the ceo of Credit swiss was on bloomberg because I remember watching him live. It was either wednesday or thursday I recall that he was on bloomberg saying they just need a little bit more time. Well, guess what? They had no choice After crisis of confidence, okay to put it lightly And what it gets into here Is that let me see if I can find it Yeah behind the scenes credit swiss's fate was sealed as far back as thursday when the bank announced it was getting a lifeline Up to 54 billion from the central bank and buying back as much as three billion dollars in debt No, as it turns out that plan was designed to buy time for the financial regular fin ma and the swiss national bank to secure a sale That's it. It was already done People were buying these shares thursday and friday that were actively trading on the market as an equity And they were about to get traded down to the tune of what a 60 percent haircut or something like that at least Let alone the bondholders that were buying thursday or friday so Similar stuff could be happening here, man You never know what's going to happen and we got a fed we got a fed decision coming up in two days Wednesday 2 p.m. Eastern time the meeting begins tomorrow How about all of this happening during a blackout period where you really can't have the chairman doing anything? right Yeah um One the terms of the initial ubs offer, okay, which put them at a billion dollars landed credit swiss managers were outraged Outraged the price tag was seen it. Um Yes, yes Yeah, eight billion dollars on friday shareholders would get wiped out managers argued The saudi national bank urged credit swiss to reject it calls went out from credit swiss to everybody out there Of course trying to find any other alternative, but the complexity and the time frame meant No takers man. Nobody wanted that a full sale was the only option to ubs 76 francs is what they got um Yeah, 99 lower than credit swiss's peak share and you know what a real kicker about this all is is that ubs got a bailout in 2008 credit swiss did not 15 years later credit swiss is out of business ubs is buying them and Credit swiss has made some spectacular failures over that time folks. My friends and I were just talking about in our group chat over the weekend one of them made the point of Ark arkagos right or archagos archagos I think they made about 17 million dollars in fees off of that whole debacle and they what did they lose in archagos archagos They lose like billions or something like that because remember when this was unfolding and the smart banks got out quick And credit swiss just couldn't do it man They were the they were left holding the bag and they lost Billions I think a billion dollars something silly man, and they didn't even have to the other banks knew what was going on and they got ahead of the curve and So there's been spectacular failures that have led to this. That's just one of them But yeah, one of my best friends works for ubs fortunately and um, he's over in switzerland went to villanova with him Got a job at jp morgan in switzerland Got a job at jp morgan in new york got transferred over jp morgan in switzerland and in jumping to ubs over in switzerland Thankfully, he jumped there versus credit swiss right, but still he was talking about last night Not good overall to put it lightly for swiss banking Okay, much better for him in ubs than it is to be a credit swiss and you know my dad sent me I'll try and find that article winners and losers in this man Um, they'll probably come out a winner, but overall the sentiment of swiss banking man It's a problem when you got such a collapse like that and remember that things can change so quickly in terms of the beginning of the year Those a1 t1 bonds and I'll try and find it. We're trading it basically a hundred now. They're worthless Absolutely remarkable and the one thing I just really wanted to pull out of this. I emphasized at the beginning is that They knew this was happened in thursday folks. They knew it was done They just wanted to be able to facilitate things as best they could. That was the backstop. That's not where you heard of media Right because they didn't know that As far as we knew They were still trying to compete as a business that backstop was going to provide the confidence they needed to go forward But no, that's not what was happening. So where else is that going on? Is it going on in first republic? It might be man. Let's see how first republics trade first republic right now Down 14 percent gets a bid on the open We get the s and p's right now positive by three nasdaq 100 drops on the open. You're negative by 80 points Let's jump around to some of our fang stocks apple shares down about two tenths percent microsoft off 1.8 percent right now amazon shares off 2.1 percent right now Boy netflix off 2.3 percent right now. What do we got going on? Let's check out arc for some of the growth companies Yeah arc off 2.3 percent right now. Let's see how teslas trade and fan favorite lower on the open Boy growth stocks really taking it on the chin right gold. How about the run for gold last night, man? Up to 2014 dollars and 90 pennies were still up by 15 bucks on the session technically at 1988 Quite a run for gold. You jump over to notes and bonds You run up to 116 24 and just like that we backed off over a full point these moves folks If you're a trader Try to take advantage of them because they are exceptional to put it lightly and what do we have the 10 year at right now Let's see if we can find it. What do we have the 10 year? 3.4 2% the yield on the 10 year right now Yes, over in asia Hong Kong shares slide 2% asia markets mostly fall is the headline you get the hang saying down 2.6 percent Nikkei off 1.4 percent.  Keck roll up a full percent Yeah, the day is young as our man basal Chapman would say bitcoin up a thousand dollars 28 000 on the dock and let's jump over to the dollar index as we wrap up the segment folks dollar index trading lower Look at that one oh three thirty three one oh five last wednesday speak to folks lots more to talk about We'll be right back You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? 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We got the smps up by 13 points now trading at 39 60 nasaq 100 fairly in the red You get the dial trading higher right now. Let's check out the big banks. How we're doing jp morgan right now There's your bid for you up point 1.2 bank of america Up by about six tenths percent right now city in the positive by about 1.5 percent right now Wells fargo trading up about four tenths right right now keeping our eye on first republic That's slightly encouraging only down about eight percent We were trading at 14 dollars at one point last night folks as the markets were looking pretty dicey So you got first republic trading up almost 50 percent off of the lows Percentages off small numbers can be deceiving. That's the one thing you got to keep in mind going back to those at1 bonds And this is the chart i was thinking about here prices on lenders at1 bonds. These are credit swiss Are quoted at just a few pennies and look where they were Look where they were as recently of february january right absolutely remarkable The collapse there and that comes with the headline that the saudi national bank loses over a billion dollars on credit swiss investment Now it's so intriguing here right is it because i was reading this yesterday is that What almost started the real run that might have given them the demise was when the saudi national bank came out and said That they weren't going to invest anymore Even if that was the case They probably should have not been so defiant And maybe they wouldn't have lost everything because as their biggest shareholder that it just sunk What a billion plus dollars Yeah, there it is 1.4 billion swiss francs 1.5 billion dollars At 382 per share literally in november And they're gonna get 76 cents back Quite a quite a rip roaring trade. I imagine they didn't think within three or four months But it is remarkable that it almost started Yeah, here it goes right that's exactly Uh Let's see Yeah Right saudi national bank chairman On wednesday was asked by bloomberg if it would increase its stake in the trouble All he would have had to say is something open ended. We're exploring all options That's always an option to add to any investment that we have etc Absolutely not for many reasons outside the simplest reason which is regulatory and statutory Yeah 24% credit swiss went down that day. That was wednesday and what happened on thursday They Already knew the bank was going to fail and they provided them a 50 billion dollar backstop just to buy a time So that was probably enough to be the nail um that did them in and it's it's just remarkable Never think you know more man and never think your money's covered if it's not folks Because there were a lot of people I was talking to some friends that were you know saying who Who gets caught Searching out that kind of yield when it gets wiped out And the general consensus is why you thought that you could probably get out of dodge before it really got that bad Right, you know, you buy debt in a company like credit swiss That's worth seven to eight billion dollars on the close of friday, let alone what we were trading at You know, if you go back a couple months ago You always think you have time to get out of dodge before things get too dicey But not always the case man and that chart is quite a chart to put it lightly Yeah All right, what else we have pulled up here It's almost too much good stuff in this market man to take a look at and we really haven't even talked about Um the fed and what is there to talk about man? Two days is an eternity right now In terms of how quickly things are moving I'm just going to jump to the next article. Let's see. I have more than that All right, let's talk about starbucks. Why not because they got a new ceo Yeah, so howard schultz was in there new starbucks ceo takes the reins early from mr. Schult You got uh, let's see this gentleman's name laxman There simon has assumed the role of ceo on monday two weeks earlier than planned Join the company's board of directors starbucks said he began working for them in october And it spent the last few months getting to know the operations at more than 30 stores manufacturing facilities He also earned his barista certification. He's all set folks. No problem there Um So starbucks has their annual shareholder meeting on thursday. He is going to lead that He is previously ceo of wreckett Benkinser group While he was an executive pepsi that's probably more. What's what's anybody know with that wreckett benzinger group is Yeah, and he was at mckinsey so mckinsey pepsi maybe their consultants or something Mechanical engineer and an mba from worton not a bad pedigree there You jump over to starbucks shares this morning sb ux and they are up a bit seven tenths percent right now To 99 45. All right, let's check out some of the currencies man We'll check out the dollar index because we got such big moves in currencies in notes and yields driving so much of the action Yeah, it's not stopping man They put it on a five minute chart. Look at that Even since nine in the morning, you just had this thing go from 103 50 to 103 30 basically You were at 104 as of the middle of the day on friday in the dollar index And notes and bonds right now. We're seeing lower price higher yield You got so many different moving parts in this market right now. It's tough to keep track of the relationships in terms of It was very simple when we had the fed because what was happening. We were getting Lower price and higher yield which was putting strength in the dollar which was hurting the stock markets It's a completely different game man and Wednesday is going to be wild for fed day to put it lately and look at this market You know, we just traded down what 20 points from the open folks. You spiked to above 39 65 We're trading at 39 47 right now We jump over to the vixx Vic sitting at 26 29 off of the 29 high right back to where we were on friday and not surprising When you get the s&p is basically unchanged right now up about four dollars Boy, you're back to flat folks, but as I started the program off with You trade down 80 plus points you trade up 70 plus points to be flat and we're right back to where we were on friday's action pretty remarkable All right, what else do we have pulled up here we're talking about banks He has some of the biggest movers first republic probably on the top of this list out there They are catching a little bit of a bit on the open as we talked about you got all the banks in here Yeah, how about new york community bank nycb? Let's pull them up. So they're going to get a lift There you go, man. How about that one up 35 to new york community bank The fdic announced over the weekend that the bank subsidiary flag star bank will take over a large part of signature banks deposits and loan Portfolio and all of its 40 branches. So the market likes that man. You're up 35 percent. Let's take a little bit Longer term chart Yeah, hey I guess you're back to kind of the area that this thing had support in before you collapsed to 581 last week You catch a lift you're up to 880 and that's where this thing usually has had support going back almost a full year, man May of last year you were at 873 you're trading right now at 878 Yeah, and look at this, right? It's all banks, man. You know, they talk about energy, but we got pacwest zions key corp us bank corp It's all banks Yeah, they didn't even put starbucks on there rightfully so man All right, what else we got? Yeah, we'll talk a little bit of commercial real estate when we come back. So that's an interesting article Where stress is showing in the 20 trillion dollar commercial real estate market Take a look at that. We'll take a look at some of the other equities s and p's up by 14.  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Let's put it back to a one-minute chart, man Because I was just talking to you saying at 948 that we were at 39 47 And these are one-minute bars. We're looking at folks and the market gets it back We're right up to basically the top of the trading range that we were at early in the day 39 65 I imagine you're going to get a two-way market folks because we're seeing action And look at first republic Okay Don't think you know everything okay that article that I let off with saying their fate had been sealed for credit swiss on thursday remember that because Let's take a quick look at what the market looked like on thursday This is what the market looked like on thursday when it traded from 3900 right up to 4000 meanwhile The writing was already on the wall and somebody knew first republic traded lower right after the bell Credit swiss was also Already a bit in trouble But nonetheless you waited last week with about a seven billion dollar market cap Meanwhile writing was on the wall on thursday They knew they couldn't compete and they were just trying to buy themselves some time And that made me what's going on with first republic folks Okay, because I don't know how you compete who who's becoming a new customer for first republic If you have over 250,000 dollars in your bank account nobody Nobody nobody should at least All right, let's jump around to some of the markets as we wrap up the program You get the s&p's up by 16 nasdaq 100 barely in the red by 82 points the dow surgeon hire with some of the strength of The bank stocks out there. Let's finish it up with those bank stocks Yeah, look at it man jp morgan up by 2.5 percent right now bank of america up by 1.9 percent right now city Up by 2.6 percent right now The day is young folks the week is young. I appreciate you tuning in And yeah, we'll end it with our man, dave white gonna miss him tremendously folks We'll be thinking about him for a long time and as dave would say it's a great saying man So true sell when you can not when you have to folks Uh And in a market like this with the speed we're having in this market Sell when you can not when you have to love your day. We're gonna miss you tremendously man Folks As my dad would say yesterday's gone tomorrow's not here. What are you doing right now? Tell your family you love them, you know and enjoy today. Enjoy the moment you're living. Have a great monday folks Thanks for tuning in look forward to talking to you tomorrow. Stay tuned for basil coming up next. We'll be right back