he's duncan richardson, chief equity investment officer at eaton vance management. he joins us from boston. >> tom: duncan, welcome to "nightly business report." >> thanks for having us, tom. >> tom: right wild swings, but for the whole month of may, what do you make of this month? >> it was really a decline over the last month that was offsetting the rise from the lows in february. i think it really is that building up of fear and a number of factors that came together that raised the fear index, the vix index, if you will, on the market. it has in the past been almost a blindfold and buy. the vixit 40 was very similar to where it was right before the lehman problems in september of '08. and i think that we have to look at the market and determine whether or not the market is more similar to that or different somehow. and we come out that there is a couple of things that are adding to that fear: the greece situation, the sovereign debt, and the regulatory reform bill that has finally gotten passed adding to the volatility, and a holdover from the flash crash. >> to

general paul eaton, u.s. army retired. once again, thanks. >>> special comment on senator mccain's reports and senator mccain, next. whether you're trying to sell of hoping to buy. nobody sells more real estate than re/max. visit remax.com today. that's my choice. because with national, i roll past the counter... and choose any car in the aisle. oh, buck chooses the blue one! [ male announcer ] go national. go like a pro. choosing your own car? now, that's a good call. >>> as promised the briefest of special comments on the statements by the senior senator from arizona after the arrest of faisal shahzad. the suspected times square terrorist. don't give this guy his miranda rights until we find out what it is all about said john mccain. that would be a serious mistake at least until we find out as much information as we have. mr. mccain, following your advice could mean that because of you shahzad could walk free on technicalities. your utter lack of faith in the system of justice that has kept this country free and safe fo

general paul eaton, u.s. army retired. once again, thanks. >> thanks, keith. >>> special comment on senator mccain's remarks and on senator mccain next. for strong bones, i take calcium. but my doctor told me that most calcium supplements... aren't absorbed properly unless taken with food. he recommended citracal. it's different -- it's calcium citrate, so it can be absorbed with or without food. citracal. that's for oreo cookies only. dad, there are no rules when it comes to dunking. i shoot from the hip. i'm hip. [ cellphone rings ] what up, dawg! it's your mother. [ male announcer ] dunk or don't dunk. choose your side. >>> as promised the briefest of special comments on the statements by the senior senator from arizona after the arrest of faisal shahzad. the suspected times square terrorist. don't give this guy his miranda rights until we find out what it is all about said john mccain. that would be a serious mistake at least until we find out as much information as we have. mr. mccain, following your advice could mean

incredibly supportive and really assisted and became partners along the way and i want to thank linda eaton and katie and gina, who has been instrumental in advancing the work and there are archivists and librarians across felly who have been really instrumental to the project, probably too many to list today. but i want to give a shoutout to the folks at the historical society of pennsylvania who also tolerated my steady presence in the reading room over the last two years and lastly, i have to thank the family of betsie ross, she came from a large family as i'll mention, in a little bit and her descendants have been incredibly supportive and welcoming to me as the project unfolded over the past few years and opened up their homes and family papers to me and i want to thank nancy conrad and kent bealer and ron lord and everybody else i have met through the family, for being welcoming and supportive. what i thought i would do with our time today is four things, i thought i would talk pow how i came to write the book. i thought i would explain why i think it is the full story of betsie ross

sandy cupler, eaton corp. glad to have you with us.question of greece and the concerns about europe. do you a lot of your business non-u.s., how much? >> about 55% of our zblis 55%. how concerned are you about long-term woes in europe. >> put in the perspective what's going well first. asian pacific is doing well. to the point people are concerned about growth rates in india and china. brazil has been very strong. the u.s. then followed in third place. europe has been the slowest growing of the economy coming back. clearly what we are see sing with less transparency, financial banking systems in europe, seeing recurrent role in thunder, greece, spain or portugal. that's what you are seeing reflected in the markets. concern how flat it will turn growth the next couple of years in europe. >> the president was making his case today for financial services, financial regulatory reform. what was the reaction like in the room after the speech to his remarks? >> yeah. i think they are great for -- great majority of business leaders are in favo

general paul eaton saying king and mccain are putting american lives at risk and my special comment,t part of america does john mccain actually love? >>> republicans push for more offshore drilling even as the cataclysm from the destroyed gulf rig gets worse and closer. >>> nashville, fema arrives. 19 dead in tennessee alone. we go live. >> mother nature can be cruel and certainly she's dealt us a bad hand. >> "worsts" the latest lie from charles krauthammer. no successful attacks under bush after 9/11.

whether you're talking of wbb or the head of eaton corp, these guys are seeing their business results turn around very nicely. they're not unworried about greece in europe. >> right. >> but they're not overly worried about either. >> well, that's interesting because sue herera, we could have guessed that because the corporate sector is doing well. corporations are doing well. it's consumer though that we're worried about. >> exactly and i think that headline risk in this market really can't be underestimated, maria, when we look at breakdown that we saw in the euro today, we moved below the 130 mark on the euro, and a lot of people were predicting that that was the case. the question is how much further to the downside do we have to go? and those currency differentials for corporate america are extremely important. the dollar was very strong today. commodities got crushed, as bob mentioned. and i do agree with him ishlgs think that we're at an inflexion point. the question is for those who are looking to perhaps continue to go short the euro, it's a really crowded trade at this point.

general paul eaton saying king and mccain are putting american lives at risk.merica does john mccain actually love? >>> republicans push for more offshore drilling even as the cataclysm from the destroyed gulf rig gets worse and closer. >>> nashville, fema arrives. 19 dead in tennessee alone. we go live. >> mother nature can be cruel and certainly she's dealt us a bad hand. >> "worsts" the latest lie from charles krauthammer. no successful attacks under bush after 9/11. what were the anthrax letters, junk mail? and stuff my dad says. a parent is only as good as their dumbest kid.

. >> eventually it does get eaton how long did is that take? >> reporter: we hear different things.re people that say it will stay in the environment for years before it disappears. the concern is right now, what the marine wildlife that is out there that particularly, the turtles and mammals that have to come up for air, they encounter that slick, that sheen on the top. and they have to encounter this material floating in the water column. tiny little pellets, they go down as far as you can possibly see. that turtle was coming up multiple times, almost like it was gasping for breath as it would come up and swimming ee erratically. >> there's nothing they can do at this point to plug the gushing leak from the well. david mattingly, thanks so much. >>> coming up next, we're talking more about the i'oil slk in the gulf. it could also impact your wallet. christine romans, "minding your business" next. >>> oil is still leaking off the coast of louisiana. british petroleum has a good plan. they are hoping to create a giant vinegar spill to turn the gulf of mexico into a delicious salad d