#MRMRKET: VIX DROPS 20 POINTS. BRETT "BREAK THE GLASS" ARENDS, MARKETWATCH
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 15 April 2025
⏱️ 9 minutes
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Summary
1907 NYSE PANIC OF 1907
Transcript
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| 0:00.0 | This is CBS Eye on the World. |
| 0:08.5 | Here's John Batchelor. |
| 0:11.5 | The market. |
| 0:13.4 | Stocks post gains. |
| 0:15.0 | Dow rises more than 300 points, writes the Wall Street Journal. |
| 0:19.5 | Subhead, President exempted many tech products from reciprocal tariffs, but warned, more |
| 0:26.6 | targeted duties are in the works. |
| 0:29.1 | We welcome one more time. |
| 0:31.2 | Brent, break the glass errands. |
| 0:33.1 | I remind you all, break the glass is from Hank Paulson's time at Treasury. |
| 0:39.8 | Oh, 500 years ago, |
| 0:46.6 | but it was the crisis of 2008, 2009, when Mr. Paulson asked his team to come up with a plan just in case called Break the Glass Plan. The plan was to step billion dollar checks in the pockets of banks that were worried about |
| 0:56.2 | their reserves. That was then. This is now, break the glasses, watching a market behave in some |
| 1:03.2 | fashion that seems to everyone unpredictable. Brett, a very good evening to you. You're on the road |
| 1:10.5 | and the market is settling today with a slight gain in the Dow. And there's all this talk of exemption. How to interpret this? Good evening to you, Brian. Good evening. Good evening. Great to be here. This is one of those instances where market participants have to try and, I mean, it's a little |
| 1:29.0 | bit like being a Sovietologist back in the old days or someone who sort of studied ancient |
| 1:36.0 | archaeology. You have to extrapolate large amounts of data from very small, sorry, large |
| 1:41.8 | conclusions from small bits of data. |
| 1:51.5 | As far as I can tell, the critical things that have happened in the last few days over the weekend are A, the collapse in the bond market, which may or may not have been engineered by China, |
| 2:02.4 | plus a panicked reaction by technology companies, |
| 2:09.1 | or at least some successful lobbying and exploitations to the Trump administration, |
| 2:17.4 | plus a Chinese threat to ban the export |
... |
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