Task force is ready to recommend that all americans now wear a mask, a scarf, bandanna or some other protective Face Covering in order to protect against the virus. Here is doctor Anthony Fauci this morning stressing that Face Covering does not mean using the same much needed n95 mask that are in such critical need for our doctors, nurses, healthcare workers who are fighting on the front lines. When you are out, and you cannot maintain the 6foot distance to where some sort of facial covering. The important point to emphasize is that that should in no way ever take away from the availability of masks that are needed for the Healthcare Providers. Lou incredibly, much of Corporate America is working with the president and working for the American People. Acting in the National Interest in the worsening crisis. One firm tonight stands out. The president first requesting and now ordering that 3m stop altogether its export of much needed, critically needed n95 mask that are in such demand in this country. And he ordered them to manufacture enough masks to meet the need of our American Healthcare workers. This is the president s tweet today. We hit 3m hard after seeing what they were doing with their masks. Referring to the National Defense production act, a big surprise to many in government is to what they were doing referring to 3m. We will have a big price to pay. Facing the wrath the President Trump, 3m in a statement said they will comply with the president ial order but then went on to say this, ccing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same. Some have already done. The companys chief executive officer mike roman added more in an interview with fox business. We are up in the sole provider for healthcare workers in many countries and that is the way that we build this capability around the world to support them. So there will be consequences, they will not have access because theyre in the middle of the covid19 fight too. We are happy to do that we will comply with the bpa. Lou mike roman, america currently has the highest number of cases and the deadly wuhan virus around the globe. Yet he, the child unto chief executive officer headquartered in the midwest in st. Paul minnesota, americas heartland, essentially telling healthcare workers that those in other countries matter more to the 3m global strategy. I want to take this to say as far as im concerned right now, 3ms board of directors without question should remove their ceo. And i mean forthwith. That is the kind of nonsense and direct defiance of a president and an absolute disregard for the National Interest of their home market if you will, it requires nothing less then his firing as far as im concerned. The pandemic that is crushing Small Business in the American Workers is driving all of us to points that we did not think possible just months ago. The Labor Department reporting staggering job losses last month, 701,000 jobs lost, an increase in the unappointed rate to 4. 4 . And today, the relief package, the 2 trillion really package signed last week by the president began offering the much needed assistance. Treasury secretary Steven Mnuchin saying almost 10000 Small Businesses have already received more than 3 billion in relief loans, 803 banks are now participating. The relief will allocates 350 billion for Small Business loans. Moments ago President Trump thanked those banks for approving loans and getting their websites up so quickly. Bank of america has been unbelievable and i want to thank them, i want to thank all of the Community Banks in the Smaller Banks that have been using the money. Its all about the paycheck, nobody wouldve believe we couldve done so well. Its a number of hours but the numbers are far greater than what we wouldve anticipated. Lou breaking news at the wuhan virus has already claimed an American Bank the insurance incorporation Just AnnouncedWest Virginias First State Bank has failed as a result of a longstanding capital and asset quality issue and joining us tonight by phone treasuries who could enter secondary Steven Mnuchin. Good to have you with us. I want to say straightforwardly if i may, what you have done in working with the Federal Reserve running your department, the sba has been nothing less than extraordinary, congratulations in getting this loan program up so quickly and preparing to get the checks and money out too so many millions of americans who are now in desperate need. With that, let me ask you this question. We heard from a number of large banks that they would not be ready, bank of america at the forefront, they were ready. J. P. Morgan chase, did they make it . Lou, face o first of all, itt to be with you. We announced we would create an entire new loan program with the sba so we could get up and running with the Paycheck Protection Program quickly. We needed to make sure that we put money into the pockets of Small Businesses quickly. This will do no good if we waited three or four months. Earlier in the week banks were very concerned, we made changes, i was very excited this morning that the first banks that made the loans at 830 this morning was the Community Banks. As you said we had over 800 banks participate today mostly Community Banks. We cannot be more excited. By the way i know there is a lot of hardworking Small Businesses that could not get the applications process this week, they should not worry about it, theres plenty of time and plenty of money left. This is a great opportunity for Small Businesses to make sure that they keep everyone employed and bring people who they laid off back to work. Lou as i said is is extraordinary what you have accomplished. I dont know that the treasury has ever been so quickly or been forced to do so so, so quickly. I know the banks are not exactly the most energized institutions in all of Corporate America and our business world. But for them to move this quickly to accommodate those in such desperately need is remarkable. So turning to if we may, in the money center banks, the big banks, and j. P. Morgan chase saying they cannot possibly be ready. Do you have a sense of when all the major the big banks if you will will be able to come online . Im understanding from j. P. Morgan, they were very worried about whether they would be ready today, my understanding they did take applications, they were able to service their customers. Our expectation starting next week, all the big banks and let me just say also, a lot of this is done electronically so Small Business does not have to come into branches. Again we cannot be more excited, if we run out of money we will go back to congress and get more money for Small Business. This is a great, Great Program with big bipartisan support. Lou the secretary of the treasury knows where to look for that money indeed. It is unfortunately for so many they have lost their jobs, we are looking at millions of people who will lose their jobs in the course of the weeks ahead. The money that you are moving out to them, separate from obviously the sba lending and keeping jobs, the specific purpose is to keep the jobs and people in those jobs through the crisis, how soon do you think that money will be available to the unemployed and how quickly they will have that money. The president just made very clear, we have to be fast fast fast, it does not do anybody any good if these programs take too long. So the employer retention credit, we already have the up and running, that is 5000 per person for any company that has retained people and able to get a refundable credit immediately. I have committed that the Economic Impact payments which are going to be direct deposit within two weeks, hardworking americans who we have their information will get the direct deposit into weeks and we will have a process to collect the rest of the information. We are working with the states unemployment to make sure that that money gets out quickly, as you said, this is a unique situation. We shut down the u. S. Economy because of the virus and we need to make sure that we protect the workers. Lou there is no question that you and the entire administration is working on trump time. There is no better expression of how quickly and broadly you all were comprehensively, it is truly a stunning feet. I want to turn if i may do one other aspect, i know you are pressed for time, but looking at the Balance Sheet of the Federal Reserve and looking at 6 trillion on the Balance Sheet, that also is an awesome source of liquidity into the system and you and Jerome Powell obviously are working handinhand to beat the crisis and your thoughts on that relationship and the effectiveness of the fed and your judgment so far . I think the fed is doing an extraordinary job. We just literally got off our daily call with the fed for our two working teams that chair powell and i are on every day and we are in the process of designing programs with them very quickly. We are very focused on the main Street Lending program for those businesses that are above the sba program and below the corporate program. We want to make sure that mainstreet companies have access and we are very focused on providing, as you said, and additional up to 4 trillion of liquidity to support American Business and American Workers. Lou mr. Secretary, i want to congratulate yo you on an unprecedented and impressive performance to give all of this assistance and all of this money into the system so quickly. I am in all that you and the administration have gotten and done so quickly. My congratulations to you and President Trump are moving at trumps speed in the face of all of the challenges that you face. Thank you very much. Treasury secretary Steven Mnuchin. Great to be with you. Lou thank you very much mr. Secretary. As the wuhan virus is ravaging this country, much has been made about the shortage of ventilators available to treat patients who require critical care. According to the Analytics Company global data, the United States will require another 75000 ventilators beyond those that are in the healthcare system. Although the president has invoked the defense production act to increase the production of ventilators and has done so already. The pace of production has risen dramatically. It looks like that those ventilators will be still the preponderance will be weeks away, for example General Motors invented tech trying to produce as many as 10000 ventilators a month, ford and Ge Healthcare are going to produce 50000 by july. Companies belonging to the healthcare trade group avenue ed are producing 2 3000 ventilators a week already, theyre trying to raise that to 5 7000 a week. So will this be in time, according to the university of washington deaths from the wuhan virus are expected to peak in the next 2 3 weeks and those ventilators will be critically important. Joining us now the host of the doctor oz show, director of Columbia UniversityIntegrative Medicine center, great to have you with us doctor oz and i want to start with the discussion about how many ventilators will be needed in the president has made it clear that he is doing everything that he can to bring online the needed ventilators. Your assessment, your personal assessment, your professional assessment of how we will do in meeting the surging demand for them. We have some of the grassroots folks in new york that go to the hospital and count of the number of ventilators we will need in the city and came up with 8000. The key here is new york, if you can get new york past the crisis which will happen over the next ten days 2 weeks then you have some ventilators that will get freed up that can be shared elsewhere, one big item thats been identified as supply chain issues, its not as easy as it sounds because people arent used to sharing ventilators in hospitals with more capacity looking for places to give away the extra ventilators and theres not a lot of hospitals with extra capacity. The crisis as it passes will free up ventilators, the production line will produce the devices. I want to point out something important, you can make more ventilators, its easy to train respiratory technicians to take care of them. Theyre like airplane cockpits, you have to get folks to learn how to run the ventilator so you have enough people to take care of the people. Lou very important point. The other development we are expecting with the president and the Corona Task Force step out today at the white house, they will be talking about the new approach that is Face Covering masks, whatever scars it may be as a way to avoid contact with the virus, your reaction . I think its a wise move. Masks work, thats why we wear them in the hospital, we dont have enough everyone at home. What the task force is saying you spatial covering. There has been a lot around scarves and bandannas, if you look at the data, often times giving maybe half the benefit of a surgical mask, that is better than nothing. The other thing we did not realize as much as i did not realize, how this virus actually gets into our bodies. We knew it was aerosolized, i assume the virus particle going into your lungs, the n95 mask helps a lot for that but it turns out a lot of the time his big droplets like you say the word health, a little spit comes out, that is m why 60 matters, t those jobs get into your nose and it takes place in their more receptors in older people then younger people and thats why folks get that infection more aggressively. So the masks shut that down, most important 50 of people who get the virus probably dont know who that they have and they are contagious. If you put a mask on my face and im contagious, i cannot infect you anymore or at least its reduced, as long as its not as good as social decision, it will help. Lou terrific. 3m, i have to ask you about the reticence of the ceo and stubborn refusal. He was going to ignore the president altogether in the request for respirators because he had other clients around the world, your reaction to forgetting what country corporation is based in, your thoughts . My loyalty my tribe, i dont know why he is making those decisions. I have to suspect there is something going on that we dont appreciate or feel. That would not be a wise decision in this setting. Every couple can you problem is an easy answer and usually the wrong one, there is Something Else going on that we dont readily appreciate and he is sitting there approving his mind trying to figure out people the story the right way. Lou i personally believe for his first instinct to not act in the National Interest to follow the leadership of the president of the United States is just about all that needs to be said about his prospects of long jevity if i had anything to say about it. Let me turned to the peak. Working discussion about the peak for new york and new jersey and parts of connecticut that are the epicenter right now of this crisis in your thoughts about the peak and how reliable is such a forecast and the brightest people we have working on it and they have to have a model that is telling them this, how comfortable are you with that outlook and that perspective and that projection. Ultimately the virus decides when the peak is but i think we have done everything that we could to socially distance and the lockdown in the region of the country has been difficult but we have done it. History does tend to repeat itself. When china lockdown on generally the 20th and wuhan, it took them 24 days before they reached their peak and began to descend. If you do the math for us it takes us to about the 14th of april which is the what the models predict. Other parts of the country because ucl over the place will be about a week later but in this part of the country it will be around that date. I am hopeful we are seeing a slowing of the speed which we are getting more hospital admissions and incubations and high spittle beds filled. Right capacity so theyre not as reliable anymore but i suspect im not sure we will be ready if not by the first of may, thats a whole separate discussion but perhaps if we know enough about the testing and how well we can contain infection if theres brought up in West Virginia or nebraska then we can begin to open up states were hasnt been as aggressive yet. Lou doctor oz, as always, thank you for being with us. We appreciate it stay safe. Thank you. The wuhan virus thank you doctor. It may have moved the senate out of washington but one senator has not stopp