it's down by 40% joining us now by phone for more is sandy weill, the former citigroup chairman and ceo good afternoon to you. >> good tag. good afternoon you to. >> sandy, you've been through and experienced many economic and financial crisis through your career. what's your judgement of how bad this current one is relative to some of the past ones? >> i think this one is very different than what we've had in the past people -- a lot of people are comparing it to what happened in 2008 which i think was caused a lot by bloated balance sheets and off balance sheet transactions by the financial industry so it's really caused by a financial collapse now we're fighting a virus that is turned out to be very, very deadly and we got to take incredible precaution and go and attack that virus so we win that war. and that is causing our government and state to close down places to have people shelter in place and i've been in our house here in sonoma, california, 13 days without seeing anybody from the outside except the people that my wife and not even our grandkids. and it is not much fun but i

you know, had no problem, would have had no problem revamping citigroup if he stayed there after sandy weillneil: the great ceos, transcend being a ceo. he and others like lee iacocca did as much to sort of galvanize america if you think about it. >> they were, listen, they were unabashed capitalists and i think in this environment right now where we have literally a democratic party that attacks people who are successful, we need, it would be nice to have a strong voice in a jack welch right now battling them. there should be someone coming after them. we should point out jack's last couple years were not, he was very frail. he was not feeling well. he died yet last night i understand but his mind was very quick. neil: absolutely. >> one other thing, you know, he didn't quite foresee trump, the trump phenomenon but he foresaw where the republican party was going early on. he said, i mean i have heard him, he was saying that, listen, the republican party is going to embryce populism. it will go back, he predicted all that. he was so smart seeing things. neil: remember during the meltdown, he

we'll hear from the ceo, a legendary figure on wall street and in the american economy, sandy weill. he'll join us in the 3:00 p.m. hour to discuss the banks and market volatility. he has seen a lot. you don't want to miss it. >> tyler, restaurants are getting hammered again today as more shudder or turn to takeout. to help stop the coronavirus we have the latest on this state of play. kate, a lot of deep red on that screen >> that's right. the restaurant industry has been rattled as now 20 states limited service to takeout or delivery data from black box shows that nearly 70% of restaurants experienced a drop in traffic through march 13th today the national restaurant association prejoeojected the industry would lose $225 billion in sales over the next three months which will prompt the loss between 5 and 7 million jobs some companies are able to lean heavily on the delivery systems as the virus continues to spread dominos, for example, instituted a contactless option with custom dropoff points for customers the company's ceo joins us now by phone we understand that you along with o