key to the prosecution's case is the testimony of chief financial officer, scott sullivan. >> scott sullivanaid that bernie ebbers told him to hit the numbers. so, he went ahead and he found a way to meet those numbers. the former cfo says that in a series of one-on-one meetings, he and bernie ebbers discussed ways to inflate "worldcom's" profits... >> and that bernie ebbers knew full well what was going on, and encouraged him to keep doing what he was doing, and that bernie ebbers was very much a detailed guy, and had to know what scott sullivan was doing. bernie ebbers was looking at everything down to the price that they were paying for coffee! >> yes, he knew about the coffee! >> reid weingarten is ebbers' defense attorney. >> and he did have these idiosyncrasies, and yes, he was hands on, in many respects, and yes, he knew every minute of telephone time that was sold by "worldcom." not disputed, stipulated. but that doesn't mean he had a clue about the technology or that he had any idea about how the accounting worked. he had vision. he had charisma. but, no doubt, he didn't appreciate

. >> excuse me >> no, there's people that think it will go to $5 scott sheffield yesterday from pioneer with brian sullivan, he was talking about a handful of oil companies making it. listen up. go back on cnbc.com and listen to it. it takes your breath away. scott told me, you know, 8 million barrels a day that we would go to 13 we were headed to 17 i just feel like people have to keep their eye on oil. it's the wildcard. it's the thing that no one seems to be able to stop it's deflationary not in a time we want to see deflation it feels so 1928 >> it is worth reminding people, of course, it is connected to the current economic crisis given the incredible decrease in demand from world economies. but it is also completely separate because of this fight that continues between the saudis and the russians. you have said for weeks you want the president to call up saudi arabia's leader and say cut it out. but that hasn't happened, jim. it appears that's not going to happen >> the president -- i spoke to the president for many, many years about opec he hated opec. opec is on the one now gasoline is coming down.

scott. >> thank you, chairman. >> thank you, senator sullivan, for giving me this opportunity. mr. berry, could you talk about what we need to do to encourage private industry to create alternatives to huawei? when you read the paper, they say there's no alternatives. what do we need to be doing to help create alternatives and then secondly, any of you answer, why, if you're up here in d. c. , we all what can we do to get the public educated about the risk of our huawei >>? thank you senator. that's a tough one. what you can do between courage it is to provide a fund for replacement equipment which means you've got everyone's attention and yes, everyone wants to find six do so this is not because there's a potential to pay for it. small carriers don't drive the marketplace normally. they don't drive the technology development. this gives us an opportunity to recognize that there are some funds to actually reimburse. on the other side, i think the recognition that there is nefarious network elements out there that need to be replaced it is everyone as everyone thought that maybe the

scott. >> thank you, chairman. >> thank you, senator sullivan, for giving me this opportunity. mr. berry, could you talk about what we need to do to encourage private industry to create alternatives to huawei? when you read the paper, they say there's no alternatives. what do we need to be doing to help create alternatives sxwlchlt secondly, any of you could answer, why, if you're up here in d.c., we all understand the risk of huawei. the public doesn't get it and you don't hear it locally at all. what can we do to encourage and do to get the public educated about the risk of huawei? >> thank you, senator. what you can do is you provided a bill, fund for replacement equipment. it got earn's attention and everyone wants to find solutions now because there's a potential to pay for it. small carriers don't drive the marketplace normally, they don't drive the technology development. this gives us an opportunity to recognize there are funds to reimburse. on the other side, i think the recognition that there is nefarious network elements out there that need to be replaced gives everyone

the scott sheffield interview last week with brian sullivan was really incredible. he's talking about tremendous consolidation based on the idea that a lot of oil companies won't make it. we are seeing retailers where they won't make it oil companies, and then the stock market doing well. there's a disconnect, but maybe the answer is there's a lot of companies in the s&p that are truly service oriented companies, maybe the services won't take a hit even if oil goes much lower, which could be good for them. >> though, carl, it is always important to point out, not that we don't know it, maybe we don't mention it enough, it's not just our economy that's like this, india, the uk, spain, france, germany, italy, the list goes on and on here, major economies in this world that are more or less shuttered at this point. >> it's one of the things that -- there's so much to absorb domestically, you forget that the mass migration that's going on in india now and the public health implications of that kind of migration would be mind boggling in a regular world, we would be payi

sullivan "options action" coming up in a few minutes. first, a special guest, someone who last april said the s&p 500 could be setting up for a 40% decline. scott minerd scott, welcome again you did not foresee this global pandemic coming. it's not just the pandemic, is it, right? the market structure, the debt loads, everything else that was already in place, the pandemic may have just been that chip on the jenga stack, if you will. >> brian, if you want to think of it as a house of cards that was built by the policymakers in order to bail out the financial system during the crisis, you know, one day a breeze came along and knocked over one of the cards andit's bringing the whole house down. >> well, the house -- listen scott, the equity market rose 13% this week. i understand, we're still well down on the year seems like the fed has shored up the credit markets a little bit. it sounds like you're not believing that the bottom is in yet. >> no, i don't think so. i mean, brian, when we look at some of the data that we're getting with unemployment insurance claims and so on and so forth, you know, it would suggest that, you know, we're going to