also joining us is joel stern. guys, they do so much for joining us.t seems when you look around the world and speak to investors, there is a malasise but no one can tell us what the markets are testing. >> i think at the moment it is a worry about fear itself. if you get a falling market, we know a falling market starts to dampen growth in terms of gdp. is nowl we have had making people say, perhaps we will not spend as much -- companies won't do the spending they might have done. at afore, we are looking concern about economic growth that was not really their six weeks ago. six weeks ago we had interest rates going up in the u.s. now we are beginning to worry about growth. profitability. and when we are looking at banks, it is not just about liquidity. it is about can these banks grow properly? francine: the problem is actually the real economy is not doing that badly. so, investors are almost testing that. >> i think it is doing that badly. the united statest the growth rate is under 1%. the markets in the united states are concerned that maybe all