. >> barry knapp should be proud of t "k". i sometimes call him k-nap. h.gs you choose to do. you do what you do... because it matters. at hp we don't just believe in the power of technology. we believe in the power of people when technology works for you. to dream. to create. to work. if you're going to do something. make it matter. >>> the state of the banking industry. [ bell ringing ] the carlyle group's oliver sarkozy shares his thoughts on how the industry can navigate through recent scandals. >>> and engaging americans on the need for fiscal solutions, former u.s. controller david walker. >>> getting inside the minds of billion-dollar investors, trading psychologist denise schell will tell you how to remain calm under pressure. >> remain calm, all is well. >>> the second hour of "squawk" starts right now. ♪ >>> good morning, welcome back to "squawk box." i'm andrew ross sorkin along with joe kernen. becky quick is on vacation. with us, barry knapp from barclays. let's get you caught up on the morning headlines this morning. the number of homes enteri

barry knapp joins us. heck of a golf tournament over the weekend. good morning, barry. >> good morning. >> expectations for this week, is it about bernanke? a lot of people suggested it's actually draghi whose address we should listen to the closest. >> no, i think that's probably fair. the draghi situation and european situation in general -- there's an interesting parallel going back to last march where when we initially got really concerned and cautious on the market, one of the things that we noted was the vol markets in the u.s., the level of the vix, the premium you pay for downside puts, all of these various measures, you pull out of the index vol market in the u.s., we're almost pricing that contagion risk at the lowest levels we've seen since the lehman bankruptcy. obviously they went up a lot during the 10% decline. but we're back to those levels now as if the whole european situation has just been cleaned up. they're going to cap yields and it's all going to be fine. when you start going through the details of all this and say, they could