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people can feel like they can have control over now, if you can get through to the bankers. >> we're trying and it's not cheap to refinance. >> that's right. >> you have to think about whether you want to do that. >> if rates go low enough, it's good to check it out. >> it's friday. >> yes. >> yeah. although the week started off well, the realization that a second recession may be drawing closer is hammering stocks this morning. actually futures. here in the united states, the dow dropped 420 points or nearly 4% yesterday, stripping away this week's gains and then some. adding to the...

of the turmoil on wall street has been triggered by fears over the european debt crisis and the anemic economies. and richard quest, one of the best people to turn to when we want perspective on the global economy. he joins us from london. what happened in the european markets today? >> reporter: the europeans went down initially and then down further and they rallied with wall street. we closed down 1% in london, and paris 1%, and frankfurt, once again the german market is being creamed by what is happening at the moment, by far and away being breutally attacked. and the german indu...

>> you just saw the ceo of that company on the screen just seconds ago, apple. it's been apple for a couple years now. >> no surprise. >> they're such an innovative company, it's staggering. >> it is staggering. >> it's amazing. >> i don't want to oversell steve jobs but i won't say he's the edison of our time but my god, he's -- >> he's the edison of our time. you can say it. >> he is shaping our culture in a way that nobody else is. >> he's revolutionized the computer business, the telephone business, movie business, music business. retailing. think about that. >> what is it about steve jobs...

That was someone who innovated by coming up with an unexpected use of technology. >> you'll give us another example of our brain. on this picture, what are we supposed to see? >> if you look at this picture, most people will say it looks like a a forest floor. there's something that you donny want to see. if you go to the second graveph, you see there's a snake there. the reason why you didn't see a snake? the first one, you didn't want to see a snake. that's the thing your brain does, it filters that information it doesn't want to see and an example of that in american industry is the chairma...

Heart and soul of the nation's computer business. here microsoft is respected and feared as a powerful giant whose every footstep sends shivers through the entire industry. >> there's this emerging war basically between the silicon valley culture built up around the web and the microsoft culture up in redmond. it's an economic clash, technological clash, a clash for power. bill gates had to turn microsoft like a super tanker around to have it address the internet. the way they did that was by coming up with internet explorer which they presented as the world's bst browser. you know, microsoft ...