. >> we'll get to more on energy with mike bradley, one of the best in the business, i want to start off with you we had a circuit breaker hit >> right >> fell 7% it was three minutes after the open stopped for 15 minutes what was that like you're on the floor. >> it's not every day you deal with a circuit breaker >> when you have a telegraph, last night we're limited down on the futures. that was a big deal. everyone's waiting for us to get to the next level which is down 13%. we're starting to see shades of panic. i'd rather have this panic in the oil market than the financial markets in the banks >> i think there's a stock price panic. i think we have a graphic on this, goldman sachs put out a note late today that i got, and it's basically energy's exposure to the banks and it's small, i think city group was the highest, at about 3% you have bank of america at about 2% on an absolute basis, we're talking about a fairly small portion of the balance sheet >> i don't think that's really what's going on today. >> i think it was more this idea of rates, of course, that always is diffic