Before the Bell 09/16/2008

[0:36] ..." get a downgrade from all of the major -- services recipes Moody's Fitch and AM best. -- and what they're saying is they've reduced their flexibility because what's going on the markets certainly collateral. And"...

[1:41] ..." he -- some point seven doubt that 179. Aspect thirty fortunately oil prices continue to go down almost five dollars it at 91 incident a bright spot -- down around seven it's seven have been"...

[2:31] ..." know -- and then there was -- crowd between Morgan Stanley and Goldman Sachs because they were both -- the pure investment bankers so we want to see what's up into Goldman Sachs came out. Of their earnings were down and it's kind of expected they were down 7% over the last year. Up but"...

[3:06] ..." to them -- that could be good news the bad news for Hewlett-Packard unfortunately is going to be laying off of the 25000 people the next three years. They'll also talk about global softness espy"...

[0:09]" Yes certainly isn't just a much better this morning at least it's not down that 400 points like it was we do have a triple digit loss of face or a few minutes. Again like I think it's going to be into the buckle your seat belt they so these species today are really the same as yesterday -- suspects. Overnight they -- a little bit worse though because the world's biggest insurance company AIG the question now is are they too big to fail verses women which apparently wasn't. -- to what happened to DOJ today electoral now the stock overnight they get a downgrade from all of the major -- services recipes Moody's Fitch and AM best. -- and what they're saying is they've reduced their flexibility because what's going on the markets certainly collateral. And the total mortgage losses so those are things we know just how bad it is so. Austria to keep the very close sign out certain -- dealing again with -- and it's earlier last week and that's the moral hazard issue which doesn't want to bail people out. And give -- money so may be giving them alone is not the same things so we'll see what happens and it's spectator would want to open up that a close at about five dollars yesterday in the bidding right now. Is between one and after Katrina have souls -- of the few minutes. -- Fed pumping -- a lot of money to the system to the tune of fifty billion dollars and I think they're particularly -- and it's being done. Our world market. You know this is in the -- watch -- you -- get what you -- quarter because a lot of pundits and his son except myself to -- we need a big capitulation. Kind of a massive panic to -- want it to get this thing -- now that looks like were -- fortunately -- unfortunately actually getting its rules that would happen -- best case scenario today. Is the market -- sell off this morning but we have and they come back later in the day with a lot of volatility with capital letters and numbers right now adept. -- hasn't he -- some point seven doubt that 179. Aspect thirty fortunately oil prices continue to go down almost five dollars it at 91 incident a bright spot -- down around seven it's seven have been kinda."

[1:55]" Yeah we've got garments that certain and so -- the -- is going to meet today -- Bernanke and company and have been doing -- to a lot -- today's stock is actually about a rate -- possibly the problem there -- that it might be perceived -- because. You know it's it's a reaction to what's going to happen and I don't think it really can work -- it's not going to have that much impact. And so again we're going to see what happens I think the markets are calling Ford they do want and it's about 5050 split. Whether we're going to get that cut like it will go a little bit better here at the time fifty at a critical -- actually did come out with their earnings and you know there there. Guess so one of the you know -- and then there was -- crowd between Morgan Stanley and Goldman Sachs because they were both -- the pure investment bankers so we want to see what's up into Goldman Sachs came out. Of their earnings were down and it's kind of expected they were down 7% over the last year. Up but they did make money -- imported by many and they didn't have big write off. They were a little bit light of expectations -- not really horrible and again from policy whatever is important that."

[2:56]" I don't get more than Washington Mutual they also got a downgrade yesterday there in the but it's and the focus groups so to speak now Lehman even though they cut off talks yesterday it looks like Barclays may be talking to them -- that could be good news the bad news for Hewlett-Packard unfortunately is going to be laying off of the 25000 people the next three years. They'll also talk about global softness espy accepted decency of store sales up 4% and -- from their outlooks and maybe that's okay. And anybody that's worried about inflation don't we just have -- consumer prices thought that the date they were down 110 of a percent so -- the first decrease in two years so a few bright spots."