tom: chris whalen, help me with this.eryone is job owning norm -- jaw-boning normal. the heart of the matter is you are taking senior better debt or jr. subordinated debt and you are saying hi, equity. chris: you're not raising new cash for the bank. in the case of unicredit, they are selling assets and getting cash. this whole notion of equity swaps, made by the bureaucrats in europe over these policies, they don't address the issue which is that the enterprise needs duke -- needs new cash. is -- what does april oh like you watch -- what does a pro like you watch? chris: the accounting in europe gives you no confidence. you don't know what is really happening. our approach to financial disclosure and bank solvency is why the u.s. system is so strong, today. there is no comparison. you have a reasonable idea of what is going on inside most u.s. banks. in europe, you have no idea. someone who offered an opinion on credit, this is troubling because you have nothing to in your hopes to. francine: you guys had talked, you wen

it's exactly what we were saying earlier with chris whalen. it's a chicken and egg problem. how do you fix the problem without the banks or the banks without the growth? a challenge for italy here. we'll watch their debt yields. thank you, sue. >> by the way, italy is the third biggest bond market in the world. stocks rally since the close of the election. we'll look at the biggest change in the rally that could be the federal reserve. apple sitting this one out. they're flat since the election and we'll discuss whether there is an opportunity to buy apple right now, when we come back. and power plants account for more than a third of energy-related carbon emissions. the challenge is to capture the emissions before they're released into the atmosphere. exxonmobil is a leader in carbon capture. our team is working to make this technology better, more affordable so it can reduce emissions around the world. that's what we're working on right now. ♪ energy lives here. mary buys a little lamb. one of millions of orders on this company's servers. accessible by thousands of supplie