we talk cms auditing plan. in response to the germans suggested to private auditors come you suggested that cms should engage state auditors instead. would you make sure that we have on the record for the committee and make sure, and the truth administrator verma is aware of this, the state auditors already required to do the single audit every year. state auditors are already accustomed to looking at federal programs and the integrity of the social programs in their state. could you explain what this would be a seamless transition to add to the single audit responsibilities that taking a look at particularly managed-care and medicaid. >> wais yes. the state auditors have very deep and long-standing knowledge of the state medicaid programs. most states, and administrator verma mentions of this in her statement, it's if not the number one budget item in the state, it's number two pick in some states it's almost 30% of the entire budget of the state so it's a very important responsibility. under federal law the s

cms is taking action. most of them we've closed it and some areas where waiting for additional documentation. >> thank you. mr. chairman, i think that will be a spin and others who would seek to try to perhaps challenge the motives of what this committee is trying to do but i think let's be clear. we want to make sure we protect and that we save medicaid and medicare. and by doing so, by limiting the waste, fraud, and abuse we minimizing it, that's the best way to ensure that those who need it the most will see those benefits. thank you. >> by staff tells me senator jones is nice, is that true? >> i'll take it. >> senator jones. the only disputing this senator holman and he staying mum. senator jones. >> let me first, i want to echo something senator heitkamp said. again it's not there but i want to also talk about this existing edition issue. i have just spent the last couple of weeks and a couple of roundtables with listening to people affected, 900,000 people in alabama affected by pre-existing pre-exis

cms. this second question relates to community health centers who have been adapting to respond to the pure crisis, particularly to the extent which they offer medication existed -- medication assisted treatments. they are located in medically underserved rural and urban areas which are hardest hit by the crisis. the survey found health centers in medicaid expansion states are more likely to provide medication assisted treatments than those in non-expansion states, and are less likely to rely on federal grants for the training. in addition they distribute the life-saving drug for reversing the effects, at almost twice the rate as in non-expansion states. this tells us that when more the opioidted by crisis can pay for their services through medicaid versus no insurance, health care providers can provide better services as well. how would you describe the role of medicaid in treating individuals that suffer from opioid addiction? verma: with all cms having access to coverage increases indiv

and what resources do cms and the states need to adequately report data to cms? >> the states are beginning to report all of the date and now but i would think that our concern would be that the data be accurate and complete. i know cms is beginning to follow-up on this so i think it would be appropriate to ask cms to regularly report to the congress on the quality of the data and ask gao to evaluate as well. this would allow states to do comparability assessments, to compare their programs to other programs to learn good lessons. so, the data is starting to come in. this is a very important issue because in the past the data was two and three years old. this requires monthly reporting, the reported data is only one step. the data has to. be i think that is the next challenge for the states. congress can help by monitoring what is going on in this area and encouraging greater actions by the states as well as by cms. gao would be happy to help. we will be watching this. senator carper: ms. verma, if we have a second round, i will have the questions directed at you

whereare in a situation we have the benefit of about 30% cms surveys, five each year. you put that in a state like california, i do not know how --y's the syllabus they have i do not know how many facilities they have. we all know it is well over 17. girl --ion that the scale and thatk forces even greater costs on a facility, because of these requirements. you have civil penalties you have to deal with and the reality of undergoing the frequency of these surveys. to thisbriefly state issue of scale in our rural facilities, and how regulations just like this can add to the already heightened cost? >> sure. you accurately describe the minimum of five rule. i happen to know that california has 1200 facilities. so they received a federal survey every 20 years. mine is every three to four years. that is important because the federal surveys have two responsibilities. oversee and to check the facility itself. so there tend to be a high number of deficiencies, not all related to patient care. there is a tremendous burden on the facility after a survey, they get a write up of

we appreciate recent work done by cms in addressing regulatory burdens. given the pace of change, more must be done. close to 24,000 pages of regulations were published in 2016 alone. the american hospital association quantified the cost in a recent report. hospitals, health systems, and care providers must comply with 629 discrete regulatory requirements across nine domains. spending $39 billion annually in administrative activities related to regulatory compliance. spending $7.5o million on regular tory -- on regulatory compliance. for skilled nursing facilities, the cost of complying exceeds $735 million annually. this is not a time when margins for skilled nursing facilities are less than 1%. we often discuss administrative burden in terms of direct cost. it is important to recognize the opportunity costs. the opportunity cost is the next best thing you could have done with the financial and human resources spent on something for -- or the value of the foregone alternative. it highlights the reality of scarcity. when a dollar or staff hours spent on a

fraser cm as a white knight. —— unclear.inly it is different to the threat of administration, which is where they started. with guaranteed store closures, i think they were talking about 30 of the 59 stores. mike ashley is not giving a firm number but he says he wants to keep as many of them open as he can come and judging by his actions with the other stores he has involvement in, debenhams and sports direct, that is true. he clearly does see value in the high street but very few other people do. this is notjust a story about house of fraser rant mike ashley, but what the high street is in 2018 and whether retail shops can survive. dawn, that is the question. do you shop on the high street?” do, more than most of my friends, mainly because i find it convenient. ifi mainly because i find it convenient. if i want something i am impatient andl if i want something i am impatient and i want it now. but it is becoming increasingly hard to do so and increasingly you will see shops closing down. the big question is, as henry said,

these words have a special place in our hearts at cms energy because we also go to work every day with the service mindset. in each task we take on we look at it through the lens of our corporate purpose which is world-class performance delivering hometown service. that means we put all of her work on keeping our focus on the people we are serving. it's more than doing the job but taking care of friends and neighbors who depend on us. the category of constituent service honors those who organize this mindset and make it their duty to carry out in their daily work. it's my pleasure to present the constituent service award to two outstanding people. first, to recognize all winners and finalists in this category have exhibited superior capabilities. of give a round of applause to all of our finalists. [applause] i'm happy to share the stories from our winning offices. first, senator boseman offers a property tax exemption for veterans with a certain level of disability and after receiving a number of crust from misuse to veterans who needed a copy of the va number of benefits to prove the

seguir en redes sociales que ve en pantalla y también nuestra página de internethts://www.telemundo48.cm♪ músic) rapido del mundo.... (♪ música ) >> 12:27 de la tarde, gracias por seguir en nuestra sintonía, miren estas imágenes de estos perritos que compitieron ayer en berlín por el título del más rápido del mundo 60 dueños y sus perros compitieron y la ganadora lo hizo en solamente 6 segundos >> otros animales que se distrajeron recibieron hasta 40 segundos para completar esta pea sido la campeona en el17. >> buen ejercicio para los dueños pero ahora veamos un adelante para el noticiero de las 5 con blanca >> yo ocupo uno de esos perritos, hoy es el primer día de clases en una preparatoria donde murieron 10 estudiantes en un tiroteo y fin de semana violento con 6 personas fallecidas y se capta el momento en que un hombre entra con un arma larga a robar a una tienda >> muchas y mundo se captó esta mañana con una cámara de la nasa cuando un destello de un meteoro iluminó el lenta >> se creo que es más brillante que la luna y se desintegró con la atmósfera >> ahora decimos qué bonito imag

tuvieron consecuencia en esta e temporada >> fue la primera pizca de la v uva esta maÑana, son nuevos cmomienzo para los vinicultores, para este cultivador fue un dia perfecto para la primera pizca, las uvas se cultivan por un aÑo antes de ser cosechados, las primeras que se piszca son de n vino burbujeante, luego del vino blanco y luego lo del vino ti o tinttinto >> bill hannah ahablaba de lo e preocupante de los incendios el aÑo pasado, que no afectaron a los viÑedos puesto que ya habian finalizado la p temporada, fue n una situacion tensa las llamas l llegaron a estrada tarot muy eru viÑa, >> la que s'e ve impactada esel vino tintoo, estas uvas no se n convierte nen vinto otodatodast un buen tiempo, >> son 60 toneladas de fruta, se toma unos dos aÑos mas para ser embotellado >> vamos a pausa, muerte ines r inesperada, hispano pierde la vida al mientras dormia bajo m camca camion. >> baches y contestion en las ca e carregteras de la region, gcuesn millones al aÑo, >> tambien inician aÑo escolcar el escuela donde ocurrio la m a masacre del ♪ (musica) tras la pasada masacre en la e prepa

this is what cms saw in the winters and finalists for the democracy award for innovation. for the finalists members and staff as i say your name, please stand. representative mark o'connell and rad winthrop, the dimock finalists of the democracy award for innovation . >>. [applause] to present to the winners of this category, please welcome to the stage frank musso, revenue officer for ce two. >> thank you brad. on behalf of cq roll call, i'm glad to be part of the democracy award, provider of congressional news, legislative tracking and advocacy services. with a password on capitol hill, seeking rollcall has earned a reputation for delivering comprehensive, accurate and professional congressional reporting. westrive to serve the people and institutions that make and shape public policy and we are thrilled to support the management foundation and its mission . to enhance the effectiveness of the institutions. all the winners and finalists of the category of innovation have an employee unique technology and enabled methods and their constituent interactions, communications

un rÉcord guinness de mosaicosmÁs grande del mundo . 81 m con 55 cm y dos toneladas de peso.rabajaron 15 personas por dios meses y medio y aquÍ tiene resultado. esto lo presentarÁn en medio de un festival de mariachi que se estÁ llevando a cabo en guadalajara. que pasÉ muy buenas noches. muchas gracias y hasta maÑana. patricia: es martes, 21 de agosto y estas son las principales noticias. mal dÍa para el presidente trump. sox abogado personal y su ex jefe de campaÑa estÁn en serios problemas con la justicia. uno confesÓ que pagó sobornos a dos mujeres por Órdenes de trump. otro fue declarado culpablede fraude, evasiÓn fiscal y otros delitos graves. microsoft descubriÓ intentos de hackers relacionados con rusia a dos meses y medio de las elecciones de noviembre. advierten que el intenso calor estÁ dejando situaciones gravÍsimas por donde transitan los inmigrantes en texas. asÍ comenzamos. locutor: este es enrique acevedo y patricia janiot. enrique: buenas noches, es el peor dÍa para un presidente estadounidense, desde el watergate, que termino con la renuncia de richard nixon.

. >> i know it's a competition, but good job teachers, faculty and staff in the cms school districts.>> the baby meets the raccoon and. >> this will just make you go, awe. >> that's pretty cute. >> next "right this minute." >>> and still to come, drag boat racers show off with. >> some pretty impressive speeds. >> what happens when one sailor really smashes it. >> oh. >>> plus, mr. beast is going to attempt to live below the surface. >> for 24 hours straight. >> see if his underwater pool day goes according to plan. ndle, but now it's time to find my dream abode. -right away, i could tell his priorities were a little unorthodox. -keep going. stop. a little bit down. stop. back up again. is this adequate sunlight for a komodo dragon? -yeah. -sure, i want that discount on car insurance just for owning a home, but i'm not compromising. -you're taking a shower? -water pressure's crucial, scott! it's like they say -- location, location, koi pond. -they don't say that. it's like they say -- location, location, koi pond. does this make you oh, how about this? ok, we'll stop. just kidding, we

que palmira: indÍgenas impusieron un rÉcord guinness de mosaicosmÁs grande del mundo . 81 m con 55 cmos problemas con la justicia. uno confesÓ que pagó sobornos a dos mujeres por Órdenes de trump. otro fue declarado culpablede fraude, evasiÓn fiscal y otros delitos graves. microsoft descubriÓ intentos de hackers relacionados con rusia a dos meses y medio de las elecciones de noviembre. advierten que el

the sharkle cms. helen was wrapped in a blanket for the here comeshe weird part, as if that wasn't weird enough was put in a baby tramp. luckily the public helped isctive these and the shark resting in quarantine. why steel a shark? i don't know what is wrong with stealing puppies and kittens. that would be my goto desired. you can find all the day's news on a website, including the main story, facebook's accounts onemove the midterm elections. i'm jane o'brien. thanks for watching. >> with the bbc news app, our vertical videos are designed to , rk around your lifestyleso you can swipe your way through the news of the day and stay up-to-date with the latest headlines you can trust. download now from selected app stores. >> funding of this presentation is made possible by the freeman foundation, kovler foundation, pursuingti sos for america's neglected needs, and purepoint financial. >> how do we shape our tomorrow? it starts with a vision. we see its ideal form in our mind, and then we begi chisel. we

you look at the top cms person at the department of health and human services. you look at a sheet tied the chairman of the fcc. this is a really, really strong group of leaders in america, indian americans. i will will mention that mark warner is not here but there are republicans. i just thought i would throw that in there. bipartisan of course so i think that's so important and that is something that the caucus certainly recognizes and we are going to build on it. >> let's talk about cybersecurity. one of the initiatives the secretary pompeo announced this morning was the cybersecurity initiative. in terms of the digital economy and trade between the u.s. and ampy and the pacific region can you talk about the importance of cybersecurity in a relationship? >> it's an important area for cooperation. i will tell you i think the u.s. needs to get its own house in order. it's talking about cooperation on cybersecurity and laying out what our strategy is. it hasn't really been a strong suit of the previous administration or the trump administration. we still need t

yes, i'm clear if the 16,500 people who work the house of fraser cm asa

copiloto le dijo " christian lo que querÍa era llegar, lo veÍa pÁlido" >> tenÍa una altura de unos 20 cmos consideran un hÉroe. >>" quÉ pasÓ?, es mi culpa?", no es tu culpa rl >> las llamas seguÍan tomando fuerza y el temor era un ex los 100. en medio de este panorama de horror, con felipe veÍa cÓmo hija de ocho aÑos habÍa quedado muy afectada con quemaduras serias.. >> ella estÁ estable fÍsicamente pero mÉdicamente necesita atenciÓn.. >> hacen esfuerzos para reponerse de la impresiÓn. a raffaella la persiguen los momentos trÁgicos que vivieron. >> es de las personas que le gusta ayudar y le dije " tenemos que seguir". >> con la mejor reflexiÓn dicen ahora. >> salimos y escuchamos una explosiÓncomo de una botella de agua. >> estos 35 aÑos yo nunca habÍa tenido un accidente de >> lo increÍble fue que no hubo una muerte, sos un milagro. juan felipe y rafael esperan que tambiÉn de el milagro de la total recuperaciÓn de su pequeÑa brisa y que Él vuelva a su trabajo de construcciÓn. despuÉs del susto hubo una razÓn mÁs para celebrar aquÍ en durango. >> el consejo nacional de seguridad que est

[laughter] cm crn stop it, leland.e shot at a high school football game if palm beach, florida, after an altercation. two adult victims were not students in the school system. one victim was taken to the hospital by authorities while one victim was taken to the hospital by a friend. their condition is currently unknown. the palm beach sheriff's office says they're investigating the incident but do not describe it as an active shooter situation. press conference later today. kristin: well, espn says it will not air the national anthem during monday night football for a second season in a row. espn notified the nfl to be good partners. the nfl, as well as president trump, has come down hard on players kneeling as a form of protest starting in 2016 and, you know, leland and i were talking about this during the break, but i wonder if the cameras are not rolling, will the players continue to kneel? what do you think? leland: i don't know. you know, if they want to make a political statement, that's the big question with, ri

with respect to odors and i think, the other thing is, one of the reasons we need the cm augmentation, because we plan to have a lot of inspectors on board, not just to inspect the job, but to meet our requirements we laid out as part of the eir, to make sure for example, there is no idling cars, or that traffic is minimized or efficient. so all those tools are already being built in to hopefully negate issues that -- i mean, construction elements we know exist, but sort of soften the impact all around. >> supervisor kim: will there be a site that the puc will maintain so neighbors are aware of the construction schedule? >> turned out we've implemented -- it's basically a construction website where we e-mail to inform biweekly. and obviously that can ramp up depending on the effort, but there is also a call-in number, that people can call in and say, what is going on? >> is it a voice mail service? >> depending on at the peak construction, i see it a live voice during the work hours. and our lead of the projects will be in the front line of answering a lot of those calls. >> superviso

former executive director bret hart says the objective is to cm young people with the skills to problem solve allenge. >> so having social workers on our staff, and having those supports in place for the young bpeople who engage and thng intentional about the social emotional health and aspects of our program build a sustainable model for apprenticeship for teenagers who are in a crazy hectic moment in their lives to >> reporter: clarence thomas graduated from wooden boaty factd now works as an engineering aide for the city of philadelphia. the program helped him overcomet the disappointf not being able to play professional aotball. >> i literally h my goals set on football. you know i didn't care about anything else. when i came here it was like, hey, you know there's just there's something else that you can also be interested in. >> reporter: perhaps the most visible impact can be seen in the feeling students have when they finally get to put their boats in the water. >> it was amazing. i can't explain it because it f s an accomplishment that i don't know a lotople that have built a b

potentially the entire socially our universe is able to see it so that weizen heavily and that waswhat cms . >>. >> it seems to be now more than ever in history it's possible to come and speak with your congressperson or your senator in person and people do that by the millions every year, so these tweets compared to people coming and face-to-face with an issue, what you say about that? >> it's an interesting dynamic. my impression is that basically facebook will always be more important than anythingthat's written whether on social media or a handwritten letter . there is a validity issue. and members have twitter and facebook at least and i assume some other social media platforms but i don't know that for sure, do provide metrics not available outside the office to try to validate geolocation tax. whether you know someone might be a constituent or not be. you hero stories and i know i'm not technically sophisticated enough that you can change that in some fashion but knowing that you're talking to constituents versus talking to someone who is someone out there in great britain is or on

but the face of the tunnel, the advanced three cm each minute.injust this area. it is very cramped. there isa this area. it is very cramped. there is a reason we had to a hard hat. but working so far from shore is so dangerous, there is a refuge chamber here with enough food and water for 28 hours. this is about as far as we can see to go down the tunnel. i am around 26 metres. that is around 90 feet below the bed of the river. you can see the fresh air systems working really well and see where the next section of concrete skin is about to be placed. these tunnel boring machine continued itsjourney to port. it is a long journey back to, but the workers are not even halfway. they have still got seven months and for more co—owners to go. amanda white, bbc news. amanda white reporting. let's ta ke let's take a look at the weather. this week looks very changeable. more places would have some rain at times on sunday. we look out into the atlantic. this is where our weather is coming from. this cloud here will progressively bring the rain and as the we

likely totagion cm is say the stress is going to go to europe. what is the downside for that? potential, it is up to safe haven demand. i agree. right now it seems as if the main stress has calm it. imply they are going to risk agencies. alix: really appreciate it. when you are off on friday contagion isn't even a game. i wondered about the liquidity thing. how many people are trading. >> it is all about turkey. >> all about the stronger dollar. , in a marketmerica where it feels like a buy the dip kind of scenario with futures flat. this is bloomberg. jonathan: from new york city i'm , jonathan ferro. 30 minutes until the start of trading. this is the countdown to "the open." ♪ jonathan: coming up, turkey spreading through emerging markets, the dollar with a new high, and the u.s. markets looking resilient. outperforming the rest of the world by the most since 2014. hazlitt john interest from saudi in its quest to go private. 30 minutes away from the opening bell. the price action for you, the features a little bit softer, but outperformance compared to european equities. in

cm is watching.ve flight delays at sjc not for incoming but sea-tac and seattle and tacoma and newark, new jersey. sea-tac is do to fog. this is for south. i hope you stuck around. i good friend antonio, 60 with sunny skies in daly city on the first day of my junior year at riordan high school. there you go. when i am playing shuffleboard, we will watch this young man to the weather. there you go. >> what are you talking about? >>> the average is 55. it is 2015. it is 68 today after a cool monday. it warmed up tuesday and today quest the average is 68 degrees with the sunshine and this is a big difference from the last couple of days. a warm-up into the upper 50s. hayward is 61 and so is foster city. there is the onshore breeze. one temperatures will pop up and the fog is burning up. tomorrow is a bigger jump on the temperatures with 90s coming in through the interior. it is soft 90s and 67 by the water. temperatures will bounce up until saturday with a cooldown on monday. >>> the time is 7:49. twitt

that portal will give them to the appropriate federal agency, be it labor or cms or treasury. we are pleased about that. we provide guidance, sam's a provided a 30 state parity policy academy where we train on issues related to parity and how states can make sure appropriate attention is paid to people of their states to get those services that they need. >> those are my two questions and i appreciate you being here and i yield back. >> the chair recognizes the ranking member of the full committee to answer questions. >> thank you. the cures act included provisions that address child trauma. i noted in my opening statement i continue to have grave concerns about children forcibly separated from parents or guardians as a result of the trump administration's 0-tolerance policy. i thought at information on whether children in the office of refugee settlements may have experienced trauma and my resolution of inquiry was debated by the committee last week specifically requesting documents on long-term health implications of the family separation policy on the children. the leader o

cm met at a form with the mayor of san francisco and oakland.t the challenges they face. jesse is live at city hall this morning with the mayor. good morning, gentlemen. >> reporter: good morning. the mayor, we want to start with the police department and the iga. there is a perceived on the part, there is a picture that they allege shows a quote unquote anti-police department rally. the union is calling and continues to call for the termination. what is your position? >> we cannot talk about personnel decisions with the public. certainly, we spoke with the ipa and the stakeholders. i will not get myself into the middle of the >>. certainly, we talk about the council about how they can report. >> people feel that you are taking that action and that undermines the aspects of the independent nature. >> i have made public statements that has concerns. we are talking about that and with counsel. >> reporter: we will move on to yesterday. you were next-door in san francisco with the two mayors of the other cities in the bay area. was it helpful? >> i

the cms actuary says medicaid 5.7% a year growth over the next several years.ast year, 596 billion dollars combined federal and state money. it's estimated to be by 2025, over $900 billion a year. so, you know, i want to make sure that we're attending to improper payments in these health care programs because of the government's fiscal condition, but also, because of the rapid growth in these programs. it's important to get a handle on this issue. data act, i talked about the importance and the purpose of it. we've looked at the first quarter filings in november 17, and quite frankly, i was disappointed in the results, and on the data standards were developed on time. i omb at treasury, but a lot of effort into it. the mechanics of introducing information is in place for the first time, so they deserve a lot of credit there, but there was over $80 billion of funding we found missing. it wasn't reported at all. the bugetary data was a little bit more accurate than the data, but the bugetary data showed about 50 to 75% of it fully compliant with the unlying recor

talk,ith all the cm something you are so good at is the fair value of euro. 1.16 is where we came a million. euro, where is your perception of where it should be? elsa: it is a nebulous concept. from a long-term perspective, you could pitch around 1.25 to 1.30, but the u.s. and the euro area are different points in the cycle. we have had a target for euro-dollar lower this year. for year end. given the carry differential, and how the dollar reacts to trade tensions, there may be a further downside, not too dramatic. francine: i hope we get my charts in just a second. i will post that on social media for radio listeners and good morning to. it is showing the differential between two-year treasuries and the german charts. elsa: a lot of times people are looking at the 10 year yield differential. one matters over the other sometimes. long-term, front end rates matter more for currencies on a consistent basis. the two year yield differential matters when corporate's are thinking about hedging or investors are thinking about shorting. tom: a nice note this morning lacking a narrative. where will

cm wild about saffron >>ome up, ann winblad joins us for an hour.ht back. >>> break k news a change of the guard at pepsico. indra nooyi will step down next month and ramon laguarta will take over. details straight ahead >>> apple won the race to the trillion-dollar market cap and alphabet made it interesting. we'll talk to ann winblad. >>> plus a streaming success story. a closer look at spotify's plan to beat apple, amazon, and google at the music game the final hour of "squawk box" begins right now ♪ >>> live from the most powerful city in the world, new york, this is "squawk box. >> good morning and welcome back to "squawk box" here on cnbc live from the nasdaq market site in times square. i'm joe kernen along with andrew ross sorkin and morgan brennan becky is off today the futures have been around the flat line for most of the session. they've been a little green, a little red they're a little red again down nine or so on the dow the nasdaq is up 4.5 the s&p is unchanged treasury yields are below 3% again. they did get up above 3% never seems

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host: we read this story earlier, but this is from the front page, courtesy of "the new cm -- of the newseum. fort lauderdale, mark, go ahead. caller: good morning. i'm very fortunate in that throughout my life i have been able to spend a great deal of my time traveling overseas. i think that you will find that in just about any country in any ofce in the world, it's more a majority versus minority thing rather than race, where the majority always tends to do what they want, run the things the way that they want and the minorities are there as the wood -- at the will of the majority. granted that in trump's time over the past couple of years, we have gone backwards. the fact that trump in his other resume, anyone who is not a white person or eight true american, how he phrases it, enables people to be more vocal about the various prejudices. prior to that time, we were making progress. there's no perfect civilization group of people, there will always be people of goodwill and all we can do is hope that the people of goodwill out way and make progress over the people of ill will. hop

what is the concern that more capital flows out of emerging markets in cms is just running for the hills? >> that's the biggest concern especially if we have a financial collapse. the financial crisis as well you get a spook and emerging markets. i think that would open the doors to opportunities in some currency then make for some interesting investment opportunities because really in the world index and emerging market index in the equity space, turkey plays -- has a small role and of course this could be felt more in europe than he that is taped with certain banks having higher exposure to greece than other banks. i would suspect that this is going to be minimal in terms of the effect on a global scale. >> catherine, you think they're handling this exactly the wrong way. >> correct. >> that they did exactly what they shouldn't have done to reach markets. what is the way out of it? if this does have a ripple effect and the other currencies drop, he said maybe it's not going to go global, boy are concerned about what might happen in emerging markets. what's the right thing for them to d