Before the Bell 10/02/2008

[0:05] ..." day they got. Well let's talk about that recovery bill passed by the Senate last night what's -- take."...

[1:27] ..." a problem and and it's a worldwide issue we even had. The European Central Bank president John Claude trichet came out and talked about. Yeah and the deteriorating economy over there in the liquidity and things of"...

[2:30] ..." that's again a bet that the stocks will go down so that the band is going to be open title three days after the passage of this bill well bill also stayed also -- that they're not going to extend it through October 17. The second thing is this thing called mark to market. With all of these mortgages loans that banks have they have the market to market. So you probably don't -- MBA from Harvard to figure this one out."...

[0:00]" Time for hours before the bell stock report WBZ financial editor Dicker says here this morning day they got. Well let's talk about that recovery bill passed by the Senate last night what's -- take."

[0:10]" It's considered it was pretty convincing seven quarter point by mr. -- quarters majority -- You know the good part of it is going to address the liquidity crisis and it will try to some cash back into the banks and again and hopefully the -- step. Let me get and then not just as -- abroad maybe you and I and those who going to want to get some money back and in the pockets again and I think in the fact that we have a 700 billion dollar bill press. It they wouldn't be about a billion dollars some more excuse me if you have some of these ads -- didn't anticipating -- but you know these paradigms -- Part of what I guess is necessary and that part of the process so we'll see -- there is due to -- a lot of different principles and that legislation. I didn't interest them because it did they did propose to raise it to 250000. From a 100000 dollars in the FDNC guarantees. In the -- process -- told -- in inflation adjusted insulated hopefully get some confidence back to the banks and in people want to step making these runs on the backs. So many are looking back now we go to congress and insist they can get through approval plant to produce some of those -- Republican since it began when ambac but. I think a lot I think they will work something out. -- deadlocked parliament happens and so did they do it like it is probably look at -- that's going to be a problem and and it's a worldwide issue we even had. The European Central Bank president John Claude trichet came out and talked about. Yeah and the deteriorating economy over there in the liquidity and things of that sort but he did an excuse me the ECB rate its fourth quarter so this it was and that our. -- was more than Lucas host. Do you just right now down thirteen. That has done a 119 NASDAQ down seventeen going to have to -- prices go below 100 down 2 books this morning and we get cold -- incidentally itself. That -- is saying well I'm not quite as nervous that would what's going -- on 28 at 859."

[2:07]" Why did a couple of things mainly that the persons -- BS EC is still trying to figure out what -- can do to enforce. So the ground rules that they accepted to try to get a better handle on all these derivative and its derivatives that let me attempt ounce compared. Some people -- going to have to be a Ph.D. from MITI understand them. Are there also going to looks like they're going to extend that ban on shoring. On the financial stocks which they put out there and that's again a bet that the stocks will go down so that the band is going to be open title three days after the passage of this bill well bill also stayed also -- that they're not going to extend it through October 17. The second thing is this thing called mark to market. With all of these mortgages loans that banks have they have the market to market. So you probably don't -- MBA from Harvard to figure this one out. What its says is that the bond prices go down more the banks may have to raise more capital because that's what they're worrying about so that means that they could loan and again. Back to business and you and I and then trying to reduce over the short term the liquidity problems."