surprised well a very interesting and really appreciate you coming on the show david that with david dein he's a blogger for firedoglake thank you. and that is going to do it for now but for more of the stories we've covered you can check out our you tube channel that youtube dot com slash or as he america you can also check out our web site that's our t.v. dot com slash usa and you can also follow me on twitter at liz wall for now have a great night.

the first deine in three years. they were right.th over 100 companies of us and the reporting down 3.5%. google continued the day after the earnings were accidentally released ahead of schedule. black monday 25 years ago today october 1987. suffering when the biggest crashes in istory. the dow plummeted 23%. if that happened today the dow jones industrial average would sink more than 3,000 points. are the financial markets a for now? we have moody's chief economist. jon, it was the number one percentage loss ever in our history. what did you make of the drop? >> i was working at moody's %-sitting in front of of my screen. as the dow jones industrial average and the s&p 500 kept sinking and sinking. then there was quite a crowd of people around me staring at the same chine that was the blue-green screen and we could not get over what happened. we thought the bottom had fallen out. people immediately after said returned to the 1930's was inevitable. gerri: i was working my first business reporting job in virginia. the trader was talki

president obama promised or is it seizing election season theatrically to talk more about this david dein blogger for firedoglake has been following the story very closely and is here to talk more about it welcome david so first i want to ask you what are the charges against bear stearns you know a company that is now part of j.p. morgan chase. right this is stearns was purchased by j.p. morgan chase in. mid two thousand and eight and this concerns mortgage backed securities deals that they had created and sold to investors and they used a lot of deceptive practices misrepresentations in terms of what they said they were going to do in terms of insuring the quality of the loans. and what they actually did which was speed the loans through the pipeline and allow defective loans that did not meet the underwriting standards into the securities deals in this cost the investors massive amounts of money i believe the number of losses on the deal specifically in this lawsuit total about twenty two point five billion dollars now this lawsuit if you take a look at it named the at the company bear

i just saw a poll that was taken in pennsylvania, by a pling firm i tust, jnclauli dein oam pennsylvania-forty46. smith's running very close to casey for the senate. ryan needs to keep that momentum up approximate this election costweolia d a policy person. a young person and an old person. i think on both scores, ryan will really help romney. we have to realize how much of obama's appeal isenio v.ebwi 25 ora 25-year, i guess, difference in age, and one who is kind of a haard regular old-time bomb baftic politician, and the other, a very incisive, sharp cuolsohi ryave a tremendous edge. the other thing is that ryan wrote the romney program. this is not just a candidate for v.p., his the intellectual leader of the republican party day. t bpheat aolcaatke now, it's like mickey mantle coming to bat because he -- he wrote all ofhese programs. he knows these budgets. he knows these figures and biden i kysinodoguely aqadit emweant decisive. i think we are looking now at a whole new band of states coming into play, michigan, pennsylvania, new jersey. a bunch of state that nobody >>reta: all rht

. >>> disappointing earnings on wall street today, stos posting the worst sine-day deine since june and adding to the drama of the big selloff, today is the 25th anniversary of black monday back in 1987 when stocks fell nearly 25% in a single session. thing is shking today -- as shocking today, i'm pleas to tell you, but the dow did lose two-and-a-half point the s&p do 24, the nasd tumbled 67 points, down more than 2% on the day. microsoft, ggle, apple, all pa oa broad selloff in the technolo sector. mcdold's, chotle general electric all sharplyower on missed earnings targets and dippointing revenue. total volume 7.2 billion shares, that's heavier than the average daily volume recently of 6.4, outpacing by more than 3 to 1 on the big board. 129 stocks that knew 53-wee highs despite all of that, 35 hitting new lows. fo the week the dow and the s&p up while t nasdaq w down more than aercent a much brighter picture year to daae in all of this anxiety, of -ourse, surrounding the selloff today. it's easy to lose sght of the fa that the dow jones industrials have gained more than 9%,he s&p up

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