joining us tonight is david ellison, portfolio manager of the hennessy large cap financial fund. david, good to see you. thank you for bng here tonight. >> good to see you. it has been a while. >> they are certainly bter capitalized than ten years ago, but do you think they'll be to weather another financial downturn should there be one? >> i think some of w what heard today was kind of rear-view mirror. i think clearly to handle aredit cycle a they're ready to handle a liquidity cycle and to some degree a rise in rate cycle and the one thing they didn't mentionoday at all was the real damaging impact that lower rates has done to their business and what rates, if they go lower, whaul it do to their business. so i'm surprised. they're fightinghe old warf credit and liquidity and capital is over. if we end up like japan, their margins are going to get hurt pretty badly and that,o me, is the biggest risk. if rates go down too much, d lending wil up and that will be the problem. >> jamie dimon mentioned the d so-cal non-bank industry where a lot of highlyeveraged loans are being made

david: ellison barber has been standing by and he has a report for us on the latest on joe biden. go ahead. reporter: hi david yeah former vice president joe biden seems to be inching closer to announcing a presidential run he told reporters yesterday he is very close to making a decision and is putting everything together, he also angered some by seeming to down play and make light of allegations he's behav ed inappropriately towards some women, and in his first public speech since the allegations surfaced biden addressed a roomful of union workers and twice, he joked that he had permission to hug and touch others on stage, the first woman to come forward and say that biden's behaved in a way that made her uncomfortable, criticized the former vp saying that to make light of something as serious as consent degrades the conversation, women everywhere are courageously trying to have. biden did not directly apologize not seven women who have come forward who said they felt uncomfortable during interaction s with him but he said he feels badly if he made anyone uncomfortable. >> the fa