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Making america stronger, more competitive and in the large sense, being able to export more than they import. >> neil: wait a minute, i want to know, charlie, you are the it guy. i hope you're back running the house and -- when you look around and just say guys, here's the skinny, we are in a heap of trouble. and we could look at raising taxes on the rich after a while that goes down, we look at scaling back benefits for the rich, or we'll redo everything, scale back on spending, and hike the taxes. what wins out? >> well, you say hiking taxes. i put together my bill in terms of tax reform and...

Completely understand. we need a good framework of law and accountability and transparency but washington can't manage a credit system like this bill. i think the people involved in the financial system know it's going to hurt us and it's giving everyonitierings. we're going to see more of what happened on wall street today. >> senator, thank you very much. a crazy day. >> yes, it is, thanks, neil. >> a lot of people ask me in the middle of a free fall, what happens? what leads to the panic? i tell people a simple market lore i learned from a buddy of mine, people sell first and ask questions ...

Our jobs. >> it's interesting the euro is collapsing at a 14, 15 month low today. does this cinch the deal that britain is not entertaining this at all, joining it? >> i think that deal was probably already clinched. if there was any doubt, this is now beyond doubt. in the way things are in politics, the people against getting the credit and the idiots for it are trottedded out and listened to as if they're wise forecasters. what's new. >> daniel, always a pleasure. thank you. all right, when you look at violence there and you wonder could it happen here, well, for one thing, our people are ...

Was portfolio insurance and it wasn't the protecter that it was supposed to be. everything fell on top of one another. >> but what triggered that was the merger, also. the arbitrary guys had the deal done then undone. >> neil: that were later in '89. >> that's a problem. >> neil: could we see that again or would this have the perverse effect of making people feel all it right. >> i think what is says is two things. the market actually worked. if this was an error, the market worked and stayed open. it was a tragedy and people will get hurt. the other thing -- >> neil: but it would have taken a...

Point -- creating 25% of that decline at the bottom this afternoon. >> neil: that's a good point. flip it around. people who are going to look at this and say it was a technical thing, all is right with the world. the correction didn't happen. it was a head fake. >> i wouldn't say dive back in. okay? there are some challenges, clearly. >> neil: do you think the market is rich? >> i think the market is reflecting as the market traditionally has the future. as we continue to hear better earnings reports and higher estimates for the s&p and companies that are growing top line, that were only grow...