she made a case that she was a valuable limp lloyd e, and they gave it to her. -- a valuable employee, and they gave it to her. >> one of the topics we heard a lot about this morning was unemployment. the fact that once you better out of the workforce -- once you are out of the workforce these days, it is hard to get back in. you have been doing a lot with short-term certifications and industry specific row graham's -- specific programs that can be on ramps to jobs for these women and people. can you talk a little bit about them and how they are working? >> an institution that is publicly funded and assisted because the reality is that most public institutions are -- there is a lot of disinvestment and more legislation seeing education as an expense. you have to create partnerships with the corporate sector in your community, with the nonprofit sector, it takes a village to be able to provide the support system the students need. these programs are good because we work closely with business and industry in the miami area. -- most of those are very flexible in terms of schedules. it co

. >> a lot of bank ceos, including at davos, lloyd blankfein said the selloff at the end of the week looked pretty normal. i was eill miller of legg mason, he said corporate profits are at an all-time high, the stock market and household network at an all-time high. it looks like people think this break they are hearing is doom. investors have a little bit of volatility phobia. big guys thinking this is normal. >> tony, you are being a worrywart. >> corrections are normal until they happen. this is a healthy correction that is long in the tooth and well overdue. aggressively,ing i agree with everything the people you mention have said. ultimately, the market moves with the direction of earnings, the direction of earning smith the direction of earnings moves with economic activity, that moves with the yield curve, which moves with fed policy. if you look at those influences over time that direct which asset class investors are going to move to, there is no alternative at this point. the only reason you are buying the long end of the bond market is the current year -- at the current yield level is if you demfearful

cohen,e to gary president of goldman sachs. this is after we talk to lloydo, who used the word consolidation. in the context of what we see happening now, what is consolidation mean? consolidation is a typical charting pattern. the talk about charting forms. what you tend to see is that you have big movements. you need to get used to that level of price. you need price activity around those levels. it is called a consolidation. we had a 30% plus move and some of the u.s. indices and equities. to get used to those 30% higher prices, you need to decide, does the world like those prices? are those the right prices? are they too high? are they to cheap? then the market recalibrate itself based on the consolidation and that is normal. >> do you hear people talk about the fact that this is normal? let's be honest, it is normal. we have had five years of almost crazy markets. >> the fed will not talk specifically about the stock market. they said they do not make policy for stockmarket investors. the last time we had a 10% theection -- 10% is definition of a correc

lloyd blankfein in davos talking to the crew here. of the biggest drivers, concerns fellow reserve tapering will reduce global e.ng into distressed, suffering industry, countries, does anything entice you now in the emerging markets world? >> well, i think china is getting very close to the point where one should be making more commitments to it. i think it's true they are slowing down, but by global standards, they are doing very, very well and i think they'll grow something in excess of 6%. i also think that i agree with some of the comments that were made by an earlier guest this morning that the crisis so-called in the banking system, i think, is way overblown. the banking chinese central government controls most of the banks, controls most of the equities, has plenty of resources with which to deal with the thing, and is moving very aggressively to do so, so i think the next big market that turns around could very well be china. >> so where specifically in china are you looking? are you looking at the banking sector? because it's kind of hard for western american investors to get in. >> well, we're looking