chief economist of moody's market group. and director of finance regulation studies at the cato institute. what is holding the economy back? >> well, lots of things. i think confidence is one of them. markets are still nervous. people are nervous. we're spending but very casually because we're afraid of what is happening down the road. we are recovering, and it is a very slow recovery. we talked about quantitative eyeasing. when interest rates are close to zero, it is the only way to stimulate economy since we've got a complete government freeze in congress. nothing is moving on that side. so ben bernanke is the only game in town right now in terms of moving the economy forward. >> i spoke to a number of business owners who say they simply can't get any bank loans. how do you respond? >> well, one of the reasons why is this the case is because washington has not been clear you as to the form of financial regulation. or washington has proceeded in a middle eastern that has shut off the supply of bank credit to smaller busines

the behavior wasespicable, but so was moody's.the bottoms, problematic e-mails on the s&p. >> neil: i'm not dismissing that. only one of the firms downgraded u.s. >> they look at e-mails and they come one bad stuff. if you have to make a case, you need evidence of intentionally were keeping the mortgage bond ratings high. that said, you can't make a whole case on e-mails. the egregious behavior of the rating agency spanned all of them. let's face it, this is the only one that downgraded the u.s. >> neil: why the only one? >> congratulations, s&p. you finally came out and said what even says knew. you were targeted. you embarrassed the administration. the triple-a thing, they can never get it back. stain on obama's record. >> don't you think they deserve to investigated? >> neil: then investigate them all. i say investigate them all. hardly a defender of the guys. i remember how they gave pristine rating to questionable debt. they were not the only one doing it. what is good for the goose should be good for all the gander. it's not

remember, right now moody's has a aaa rating.hey recently upgraded their look to stable from negative. he says ignore that. ratings firm. that being said, bonds in focus today. he makes this comment. we are now looking. just over two and a half%. the continue to see the yield come way up from the numbers we were seeing. it has been on a steady decline since the fed announced it was not capering. as long as it keeps up the bond line program, those yields come down. right now we have been calls from hsbc saying in believe it will fall to just over 2 percent of the next 12 months. barclays says to 85. so controversial comment and all of these banks saying that the 10-year yield is going down from where his. liz: this is fascinating. the moody's corporation up about one-third of a percent. a company it is based in canada. it is trusting any of the ratings agencies entirely. use it as one source, but we have learned something from the financial crisis. very interesting to see why. keep on it. thank you. we have some encouraging news a

moody's better be careful.they got an absurd and knee-jerk reaction. >> it seems like to me that this is two very different stories. >> i never thought that this would happen on his watch. moody's ads to post to and gets four. it does not add political judgment. stuart: after the break, one of the strongest, sharpest opponents of obamacare. a guy who plays hardball in congress is next. ♪ [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you open an account. [ engine revs, tires squeal ] [ male announcer ] since we began, mercedes-benz has pioneered many breakthroughs. ♪ breakthroughs in design... breakthroughs in safety... in engineering... and technology. and now our latest creation breaks one more barrier. introducing the cla. starting at $29,900. ♪ starting at $29,900. no two people have the same financial goals. pnc investments works with you to understand yours and helps

that company, standard & poor's, a rating agents not much different from other rating agents like moody'scompanies that botched the financial meltdown, where is this government going after just one sinner? just s&p. neil: to hear s&p tell it here is why, because the firm had odd as --ed on atty on -- downgrade the country. a routine to which we've become accustomed but s&p pulled trigger, now faces a loaded gun. justice deputy said there is no connection it reason why it is seeking civil pen ate is because s&p are egregious. investing into securities that were too junky. step back, whatever your thoughts about s&p ask yourself why it is the one being singled out, because moody's and fitch pulled some fast ones but they done downgrade the u.s., did they? texas and arizona got served with federal lawsuits as a result of their efforts. there will be briefs, a lot of briefs. for any of all who are of a mind to challenge, the judge said none of this is surprising,. >> look, s&p standard & poor's is a rating agent. they look at assets they look at credit history, they give an opinion under scor

. >> how come moody's is not being investigated? >> well specifically -- >> i think the business model is broken. paying -- paying to rate an investment product, i think is wrong. the model has to be changed like it was with the analysts. if we remember, ten years ago. >> right. >> here you've got evidence that they knew the ratings were false. institutional and individual investors depend on the aaa ratings to buy those products. if they believe that those are false ratings, they should take them off, and i think they should be held accountable here. it's sending a message to the industry that you can't do this. >> and who's accountable for the overseers of the ratings agencies? who's accountable for the regulators? where's that accountability? >> that's a good question. the s.e.c. actually regulates these agencies. >> right. so how come they were asleep at the wheel and nobody can sue them? >> well, there should be standards here that have to be followed. they know the law. if you issue a false statement that you know investors ar

moody's chief economist joins us. he is unimpressed with the employment rate decline.will find out why. we begin now with defeat and rejection in st. petersburg. president obama, as i said it and as you have seen, looking defeated, dispirited, and at times distracted while making closing remarks at the summit. take a listen. >> over 4-1400 people were gassed. over 400 of them were children. this is not something we've fabricated. this is not something that we are looking for using as an excuse for military action. as i said last night, i was elected to end wars, not start them. i have spent the last four and a half years doing everything i can tear reduce our reliance on military power. what i also know is that there are times where we have to make hard choices if we are going to stand up for the things that we care about, and i believe that this is one of those times. lou: in contrast, russian president putin, as i said, he was animated, he was strong, and persuasive in his comments as he explained why he will not allow russia to go along with an american attack again

also. >> neil: moody's warned a credit watch but never pulled the trigger. >> moody and fitch was -- argument for all these ratings agencies are they assigned pristine realityings to debt that was bad. right? they all does the same. >> their argument is it's opinion. you don't have to follow it. >> neil: if that's the case, it's only opinion, one firm's opinion matters to the government and it's odd that opinion comes from a firm that lowered the credit rating. >> it's a pattern. if you want to know why you're reading about jpmorgan under investigation every day, i medium jamey diamond and said today's a good day for a story because you're not under investigation and then something popped up. >> neil: why do you think he is? >> he had the at ated the the no says dodd was a piece of garbage. >> he spoke his mind. that's the pattern. that's what happened with s&p, but s&p's behavior is so bad during the financial crisis, they -- maybe they should go after all of them at once. it's hard to defend because the behavior was bad. >> neil: absolutely. i don't take anything away but if you go

mood moody's also says fund-raising is weak.ard is a private university but it relies heavily on government support. moody's says federal cuts will impact the school in the next year. >>> virginia commonwealth university will notify about 300 students they may have been exposed to tuberculosis. a vcu spokesman says the extent of the exposure is considered insignificant but screenings will be offered to people as a precaution. >>> 6:56. here are four things to know before you head out the door. more than 100 federal workers expected to stage a rally near the white house. they want the president to guarantee a living wage for federal contracted workers. >>> we'll be watching to see if this talk-a-thon can prevent a vote. it just hit the 16-hour mark. senator ted cruz is leading this effort with help from senators mike lee and marco rubio. and a team of u.n. inspectors is back in syria to look for more evidence syrian troops used chemical weapons. we'll keep you posted on any developments on n nbcwashington.com. >>> ken cuccinelli,

moody's also said fund-raising is weak.ard is a private university but relies heavily on government support. moody's says federal cuts will impact the school in the next year. >>> happening today, mayrriott executives will join d.c. city leaders in celebrating a milestone in the construction of the largest hotel in the district. this morning at 10:00 a.m. they will hold a topping off ceremony at the site of the marriott marquee in northwest. a crane will lift a ceremonial beam on top of the 14-story building. it will signify construction has reached its full height. the hotel is set to open in the spring. >>> virginia's commonwealth university will notify about 300 students they may have been exposed to tuberculosis. a spokeswoman says a student tested positive for tb. she says the extent of the exposure is considered insignificant but screening will be offered to people as a precaution. >>> a construction worker recovering in the hospital this morning after being trapped in a trench in maryland for more than three hours. t

. >> brian kessler an economist for moody's thing you very much. >>> a critical phase of president obamaealth care act starting on tuesday. we'll head to hospitals and look at what obamacare will mean for money" continues. ♪ what happens when social media uncovers unheard, fascinating news stories? it drives discussion across america. share your story on tv and online. >>> hospitals have a lot at steak as obamacare exchanges roll out next week. they may gain millions of new patients who didn't have insurance before, but they are also under huge pressure to cut costs and improve the quality of care -- [ technical difficulties ] and for me. david has the story. [ sirens blaring ] >> reporter: hospitals are getting bigger, joining forces to cut cost as the nation's health care overhaul takes effect. roughly a fifth of the country's hospitals are expected to pursue deals in the next decade. with deeper pockets they are hire more specialists and buy better technology. >> just the complexity of what hospitals have to contend with today, whether it's the installation of electronic medical recor

moody's just downgraded the school's credit rating. the service blames it in part on weak fund raising and budget cuts. howard relies on $250 million a year from the government. they are dealing with a drop in student numbers following stricter loan standards. moodies says expenses at the hospital are putting a strain on the rest of the school. >>> tonight, hundreds of people are finding out that their wait to get a d.c. drivers license is getting longer. we are not talking hours here. this could take weeks, even months to straighten out. transportation reporter, adam tuss questions the dmv director to see what's being done to speed up the process. >> reporter: 800 people hoping to take their driving road test over the next month and get their license in the district are being told they have to wait. the reason? d.c. doesn't have enough road test examiners. over the last two months, the district was use zing examiners from virginia. nine virginia road inspectors conducted 1,000 road tests for d.c. drivers. they have been pulled back to

. >> you are moody. >> who isn't on this shift. >> you are pretty quiet overall. >> no he is not.o >>s, annie, i like this think that i am, too. >> those are people who are pretty quiet and when you speak, you stop and listen. >> thank you. >> latt, drinkers and those whoo add milk to your coffee. i always add something, are more likely to go out of their way to help others, and are generousge with their times. ti >> those are good things about you. >> and cappuccino or extra foamo drink lovers, are a perfectionist, [ overlapping speakers ] lperfectionist,overly sensitivey and tend to be worriers. >> let's talk about the instantt coffee drinkers. they are lay back, and they are often poor planners and are often to be procrastinators. >> i do drink instant coffee ate home when i leave the house and i have a second when i get here i'm a little bit more, a procrastinator, i work better under deadlines. >> sarah, you have me in training. >> wisdom didn't drink coffee.f. >> so how do you take your coffee now. no >> i put creamer. >> it's cream with a little bit of coffee to be honest. >> g

moody's investors downgraded howard's rating, citing federal budget cuts from congress. around the world, police in kenya say they have made another arrest in connection to the deadly mall attack in nairobi. but authorities did not reveal any other information. a dozen people were initially arrested but three have been freed. people recall that 67 were killed when members of the al-shabaab militant group seized the mall last weekend. is still in shock after their pastor was murdered. night gunned down friday in front of dozens of worshipers at a church in lake charles, louisiana. the suspected gunman surrendered to authorities. he was a deacon at the same church. investigators say they do not have a motive for the shooting yet graded the former cleveland drugs cornerback is facing trafficking charges. police pulled them over earlier this morning outside of cleveland. when officers questioned him, they smelled alcohol on his wrath. he's had a number of problems since leaving the nfl, including drug addiction and financial problems. a spacex rocket launch from the californ

german a pool we have a pool from greece to be sent to the other two so come give us a legal product moody's we have people from australia so that it is a system where all regulatory authorities don't take chances they all come and make sure the proposition because there's in place would lead then the ilo. thank. you. outside of mumbai's counts are hospitals the patients relatives come for months on end. i have been here for three months. but my son has cancer here on the side. he had surgery we're staying here. but there was a lump in my chest. i went to get tested and they told me it was cancer and let me go. inside. what should i do all the money i have saved was spent on the trip to come here it is gone. but what will i do know. that where will i go where will i stay. mr kumar is a professor of oncology and works for one of the country's largest cancer hospitals . india to be have almost one million new cases at the. beach and it's only been printed by what we call it would miss the limit of pieces you'd be close to ten million. on the small percentage who can get the money to mr accompa

moody was a a and single a and we had a former policy to issue our revenue bonds for state of good repair projects of primarily and to fund gaps where they weren't available. so, our state of good repair needs are quite significant as i'm sure everybody on the board is aware of. we have identified that we have 510 million per year renewal backlog. we have identified as well that we need $366 million a year to replace our assets with no growth and to renew our transit assets to $150 million a year and in the next year we expect to double to $1.5 billion. it impacts all of our service and systems. and also limits expansion due to growth. the capital needs and shortfalls, the transportation of good repair. our total value of assets a little over $12 billion. we have replaced a backlog of 22 percent of our assets and this requires an annual investment of $510 million as discussed in prior slide. we have available about $15 million per year and the different between the 510 and 250 are on going deficit to keep us in good shape. on top of that we have plans that are approved. the bicycle strate

moody's thinks federal cuts will impact the school in the next year. all the university's revenues under pressure right now too the credit agency says howard university hospital has become a drag on the school. the college has also seen a decline in enrollment due to tightened lending standards for federal parent loans. something we'll continue to watch. >>> one of the companies bidding to put a casino at national harbor is about to unveil its plans. mgm resorts international will present its first look at its designs for a world class resort. maryland residents voted to approve expanding gambling in the state last november. >>> raise your hand if you already know what your kids will be for halloween? yes. yes? turns out the weak economy may be scaring the fun out of halloween this year. the national retail federation says about 158 million people plan to participate, down from 170 million a year ago. average money spent about 75 bucks and that's down almost five bucks from last year. doesn't seem like much but when you add it up, that's a big chunk to

. >> moodies says taken together the states have $0.48 for every pension they promised. pensions guarantee a monthly payment for life. if the assets of the plan shrink to nothing. as detroit may learn bankruptcy is no guarantee that cities can avoid paying pensioners. that's a reason charleston is seeking steps to cut costs. >> we were heading towards bankruptcy if we stayed on the course. the city is about to impose a sales tax and put police and fire hires and a state peption -- pension, shut down fire stations and is charging everyone in charleston a $2 a week fee. unless they can reduce benefits taxpayers will have to foot the bill of underfunded pensions. >> in 2013 every state had one bill that addressed some sort of pension reform, including puerto rico, meaning more costs for employees and employers or more costs for taxpayers. >> in an odd twist charleston is considering not accepting federal grants that pay for programs like dui cheque points. free money is great. it's current and nobody is looking at the long-term effects of those. >> programs cover overtime p

it's large and growing underfooted pensions prompted moody's to downgrade its rating.icago's four retirement funds have unfunded liabilities of more than $19 billion, put another way, those four funds have just $0.35 for every dollar they have promised to pay retirees. chicago's police fund is among the least funded. it's a very scary number for the men and women who have put their lives on the line protecting the city of chicago. joining us from chicago is jim malone, a lieutenant on the police force and serves as a trustee of the pension fund. jim what is your biggest concern about this? >> my concern is that i'm going to retire and obtain the full benefits that i have earned over all of these years, that was guaranteed. >> what do you think the city of chicago ought to do about it? and you are in a unique position because you are a little more familiar with how the pension system works. what should the city try to do? >> well, the officers, myself included, we have put in our contribution consistently over the years. since i came on the job, i put in my contribution

chris moody, yahoo news.you. >> jon: more on the fast approaching deadline in d.c. first, amanda knox has been convicted and acquitted of murdering her roommate in italy. that country's highest court decided to try her again. when the trial opened today, knox did not show up. we will tell you where she was. that's next. ♪ dollars (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for how much i'll pay. that helps me, and my guys, make better decisions. i don't like guesses with my business, and definitely not with our health. innovations that work for you. that's health in numbers. unitedhealthcare. >> it is not over for american student amanda knox. italy's court began a retrial for knox and italian exploy friend. both were convicted but later acqu

it is not your moody's responsibility to solve the problems of the arab world with our taxes. >> there is also concern that the syrian crisis could be imported to europe. >> we are worried that they will come back here like ticking time bombs. it is just a matter of time before a train station will be blown up. >> as more people flee their homes, the refugee crisis is only set to continue for a long time. >> in moscow, with you 24 hours a day. right after the break, a look at the turbulence in the european economy. ♪ >> they are working hard to make up for it. >> did they ever have sex with governor rick perry? >> don't answer that. ♪ >> the news continues here on"rt." news indicates that europe is slowly recovering from its financial crisis. grease may need billions more in bailout money to prevent collapse in the portuguese government is in anarchy over missed payment deadlines. there is a proposed european banking union, giving brussels the tower to shut any bank on the continent. our correspondent has more. >> the eurozone came out of recession after the longest time of economic mi

. >> brian kessler an economist for moody's thing you very much. >>> a critical phase of president obamaealth care act starting on tuesday. we'll head to hospitals and look at what obamacare will mean for money" continues. ♪ my name is jonathan betz. i'm from dallas, texas, and i'm an anchor for al jazeera america. >>my name is ranjani chakraborty, i'm from houston, texas. >>i'm kim bondy. >>nicole deford. >>and i'm from new orleans. >>san francisco, california. when i was a little kid, i just really loved the news. >>news was always important in my family. >>i knew as a kid that was exactly what i wanted to do. >>i learned to read by reading the newspaper with my great-grandfather every morning. >>and i love being able to tell other people stories. >>this is it, i want to be a part of this. >>this is what really drove me to al jazeera america. >>> hospitals have a lot at steak as obamacare exchanges roll out next week. they may gain millions of new patients who didn't have insurance before, but they are also under huge pressure to cut costs and improve the quality of care -- [ technical

mark zanny, chief economist for moody's analytics. let's get rid of these numbers for the -- us layman out there in terms of the economy. what does this mean? obviously, the revision. unemployment rate the lowest we've seen since '08. the revisions are down 16,000 from june, 58,000 from july. what did we learn about the economy today, mr. zandy? >> the numbers were a disappointment, particularly the string of good economic news we've been getting the last couple of days. if you look through the zigs and the zags and of course this data will be revised again, i think it's steady as she goes. i think the job market today is about the job market of about six months ago, a year ago, two years ago, so no real change in the job market. >> obviously, congress has a herculean task ahead of them. they have the debt limit, all this on the backdrop of the fed lowering the stimulus in the economy, as well as syria, this vote could have quite an impact on congress. do you think syria could impact the united states economy from where we stand? >> i

elsewhere, moody's concerned about a drop in enrollment in higher education in the u.s.he first time in six years this has happened. they say it could put the squeeze on college budgets and we know the states are not raising their budgets, so that could be of concern to some of those institutions. >>> and apple, big news today. we're waiting on an announcement. we're expecting a lower-priced colored handset from apple. possibly with some new fingerprint technology. those shareholders will be hoping that this gets the stock back somewhere towards that $700. the all-time high. we're still something like 28%, 29% away from that now so fascinating business stories out there. >> back to you. >> hopefully the battery life is longer on that. geoff, thank you very much. we're tight on time. i'd love to split the atom on this next one. you have the eye in london but las vegas building a new attraction. that will be the world's largest ferris wheel going up in vegas on the strip. now, i just got to be honest. people made a big deal yesterday. i don't understand the appeal of the f

that's going to improve, we're talking about a short term close down that will be 0.2% according to moody's, if it is three to four weeks it could be 1.4% off growth. it does matter. we'll wait and watch. we know print media is under pressure at the moment. "usa today" some talk they may go beyond a pay wall 12% decline in reader numbers over the last quarter and they are facing a big hike in the news stand price from $1 to $2. will they be able to take that business mind the pay wall and make more? brian we know this has been a difficult way of trying to push up your revenue and your viewership. >> i go by my own consumer habits. if i can't get it for free unless it's premium i'm not going to pay for it. it's interesting to see how a massive publication deals with that. two of my favorite things, jeff, football and twitter and now i can get them together in a little sandwich. >> for a minute i thought you were back on the vegan strip club thing. let's talk about the sport if you want to go there. nfl and twitter thinking about tying up a deal here which would give obviously nfl fans access

moodies an lit ticks that tracks economies says every state in the country is currently out from the risk of falling back into a recession except for delaware. why is that? it hasn't seen a big return from the industry. >>> while most states have recovered from the great recession, as susie told you. new figures show the income gap between the richest and the rest of the country widened to a new record last year. hampton pearson has more on the nation's growing income inequality. >> reporter: the wealthiest americans enjoyed quite a come back from the 2008 recession. according to a new study the richest 1% of americans are collecting the biggest share of household income since the roaring '20s. economists analyzing internal revenue service data found the top 1% of ameri households, those with income above $394,000, earned 19% of the total household income last year and the top ten percent with household income exceeding $114,000 captured a record 48.2%. they say it's setbacks for the main stream economy. >> we had declining union and erosion of the minimum wage. we've had increasing

moody's investors services is raising gm's corporate debt from junk states to its lowest investment grade. the car company lost status with ratings agency when it plunged into financial disarray 8 years ago. to improve it's credit standing now gm is buying back 120 million preferred shares from the uaw's retiree health care trust for $27 per share.the union received the stock after gm emerged from bankrutpcy. gm worked out the stock deal with the uaw during the financial meltdown. tensions are rising in bangladesh -- where protests have forced the shutdown of 300 garment factories. thousands of workers set fire to factories as demonstrations turned violent this week. u.s. brands such as wal mart vowed to improve safety restrictions following a factory collapse in april that killed more than 11 hundred people. now the fight for higher wages is intensifying. workers are demanding 100 dollars a month, more than double their current 38 dollars a month. there's encouraging news on child labor. -- there are a third fewer child laborers in the world. although the hope is to get to zero. there ar

that was brian moody of auto trader dot com. who says buyers have a better chance of negotiating now, with dealerships looking to make room for newer models. the rising stock market and the bump up in home prices continues to improve the picture of wealth for some americans. the federal reserve reports household net worth jumped to $1.3 trillion dollars in the spring. up 1.8% from the first quarter. the gains were significant for people in the top 10% who own 80% of stocks. homeownership steadily declines for lower- income americans. meanwhile-- careerbuilder.com reports.the number of people living pay check to pay check has fallen from 40% to 36% this year. despite higher mortgage rates, americans bought new homes in august at a brisk pace. government numbers released yesterday showed an 8% rise compared to july -- and up almost 13% when compared to a year ago. borrowing rates have been rising since may but rising rates can spur buyers to get into the marketplace before rates go any higher. victims left homeless by superstorm s

there is an estimate from moody's analytic that shows every dollar we spend as a nation on snap or food stamps benefits or generates $1.71 in he economic activities. it almost doubles the he economic activity based on the investment. so, the resolution that i'm introducing today will urge that our city and state officials work towards continued federal funding for snap and urge house members to vote no on any reductions in the snap program. and props to the food security task force and the food bank and the department of public health and many grassroots organizations like the food guardians and the southeast food, southeast task force and others for their work to make sure that hunger and food and security are eliminated in our city and i urge support for this measure. the rest i'll submit. >> thank you, supervisor mar. supervisor wiener. >> thank you, madam chair. less than a month ago we rolled out our bike share pilot program. it was very exciting and is a really terrific event for the city. it is a pilot program with 350 bikes in san francisco soon to be 500 bikes. and i think i an

. >> now rating service moody's is weighing in on this are program. it could lead to higher mortgage rates in the area that ultimately depress home prices. >>> jessica taff is here in sports. big night in baseball. >> red sox completed their 100, this year cellar dwellers to top. alex rodriguez breaks lou gehrig's record to billion all time leader. yankees all time winning pitcher in the postseason, andy pettit announced he's hanging it up retired twice from baseball but this time, it is for good. >>> it is the race for golf's top prize. tiger woods starting today, coming into the final weekend nine strokes off the lead but he managed to claw his way back within four strokes of the lead but then down the stretch just blew up and finished one over par. meanwhile henrik swenson is leader heading into saturday. that's a look at sports at this hour. >> thank you jessica. opening enrollment for the affordable care act is set to begin next month. taking a look at how people will be able to shop for their plans online. >>> and he's a nobel prize winner. he's

moody's recently said we'll start valuing pensions using much more conservative assumptions and thatension obligations of other places. in addition moody's said, by the way we'll include pension debt as bigger percentage of our ratings. so what, we, chicago for instance, has had their, the city has had their bond rating downgraded specifically because of pensions. there is clearly much more emphasis by the people are saying, this is what is important. you need to be paying attention to this. lori: and the buyers, because they're still such solid demand for muni debt, you know, the credit ratings are being downgraded, borrowing costs are going up but it is not steering any investors clear of the so that is probably -- >> i would say individual cases it is. lori: it is? >> yes. people are getting -- lori: getting more wary. you do have to do your homework. >> exactly but that's at difference. municipal bond industry was up to certain point a place where you invest and sleep at night without worrying. now suddenly you're doing things like paying attention where they're investing which i