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[0:19] ..." last -- Independent firms are still stating that -- Morgan Stanley and Goldman Sachs well no more there are actually going to the way the rest of the credits to commercial bank business and returning it to the bank it's it's amazing after all the so these guys that -- the toward capitalism you know -- more conservative -- so the average person really doesn't. Understand the difference between probably that the different financial industries it is all the more thing that's going on between. It banks and brokers and mortgage companies and even insurance companies. Sort the other alternate personas and stuff -- sure is that Morgan Stanley Goldman -- is that they're"...
[1:39] ..." our percent to -- that's a little bit of what's going on Wall Street so. What are Morgan about the -- up right now for a futures do okay and executions of two point seven. Doesn't 33 -- point eight we got oil prices up two point sixty want to want to seven political propaganda 1870 to eighty trees."...
[0:00]" Time for our before the bell stock report and WBZ financial editor Dickerson joins me this Monday morning good morning David -- there are right let's get right to it changes in the into banks now."
[0:11]" Yet you know I don't Paulson and Bernanke this -- and -- weakness -- we're -- the last couple -- the last -- Independent firms are still stating that -- Morgan Stanley and Goldman Sachs well no more there are actually going to the way the rest of the credits to commercial bank business and returning it to the bank it's it's amazing after all the so these guys that -- the toward capitalism you know -- more conservative -- so the average person really doesn't. Understand the difference between probably that the different financial industries it is all the more thing that's going on between. It banks and brokers and mortgage companies and even insurance companies. Sort the other alternate personas and stuff -- sure is that Morgan Stanley Goldman -- is that they're now going to be subject -- much more oversight by some of the banking -- Which means to -- to stop borrowing a lot of the big money that they -- going to have to cut the -- That's an example we look at some of the reasons that senate -- and Morgan Stanley in the legal text. They were brought twenty or thirty times. Of the capital that they have that cold leveraging -- that hedge fund might do. But right now they're probably going to have to go from that to close to attend that go deep leveraging and that's the market kind of needs to get rid of all the risk with all of these mortgage program so. We'll see what happens we're not talking about the bill are trying to hash that out with that the government bodies -- these beaten down more response to. So it's trying to put that not terms but they were part of house with three to 5% down you're getting a -- that seems sort of leveraged. If the house -- altered our percent to -- that's a little bit of what's going on Wall Street so. What are Morgan about the -- up right now for a futures do okay and executions of two point seven. Doesn't 33 -- point eight we got oil prices up two point sixty want to want to seven political propaganda 1870 to eighty trees."
[1:56]" I tell us more about the bail out that we need to know."
[1:59]" Well it's still a little sketchy and and it doesn't spell that the government going to spend somewhere between 500 billion trillion dollars. The buyback these mortgages you know as an example of these mortgages and originally issued they were 10000 dollars but because nobody -- and that might be worth three or 4000 dollars today. So kind of the world was expecting everybody to default or maybe six -- 7% of these mortgages default that's not really very likely but what happens is the average Morgan. Mortgages usually don't get done within seven years because we buy in new home. Or because or refinance so -- and government and holding out for seven years finished probably going to be some appreciation price and that's what they're hoping for. I think the real sticking point is the fact that. Will these are bank brokers. So these because they know their depressed. Because they're not going to get the upside of the profits with the to talk to condemn the price and there's a lot of safety nets out there are a lot of things have been looking yet but I think the I don't think anybody's gonna get in the way of the financial bail out. Company's most people have a bank account that the word about it before one carrier they have a house so. I think it's going to really hard to do that the -- is who's going to take overs are going to be as secretary Paulson or -- would -- to -- transitions so. The the president has a lot of as a plate to figure out."
[3:09]" And I did the crew so thank you so much."
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