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Im francine lacqua. Weve had quite a lot of volatility over the last couple days. Asian down, european stocks rebounding after declines as investors speculated that we will get more stimulus from the ecb when mario draghi speaks tomorrow. I want to show you banks. There is more concern about the impact of negative rates on the banking sector. Yen at 112. 53. The yen is the worlds is performing currency this week. Losses set off by disappointing trade out of china. Breaking news out of norway. Just releasing its 2015 report. 2. 7 unds return is about in 2015 as the stocks overall have gained. T...

David, great to have you with us. Nice to be here . In your view what the odds that valeant befaults because it cant meet the filing deadline for its annual report . I think there is a meaningful chance that it happens. A couple things that i would upon out here. Without knowing all the specifics of accounting issues this is a company that has made dozens upon dozens of acquisitions. The accounting is highly complicated some. He when it comes to default, you really cant rule anything out. I think thats one of the reasons the stock is down as much as it is. Why did it take you so long to downgr...

I believe is here commissioner stansbury a quorum is present thank you well start with the announcement first of all, we will go into closed session be our first item for the day any members of the public here okay. Good on the ground well go into Public Session after the closed session any members of the public will be letting you know well go into closed session so the chair will entertain a motion to go into closed session commissioner confirm Public Comment. With any members of the public like to comment to into closed session to discuss the matters hearing none. Public comment is closed. ...

Item 2 for case at sickle mandatory discretionary review is proposed until july 16th no other items proposed for continuance. Any Public Comment on the two items proposed for continuance noirtd Public Comment is closed. Move to continue items one and two to the dates specified. Commissioner antonini commissioner hillis commissioner moore commissioner wu and commissioner Vice President richards and commissioner president fong so moved, commissioners, that motion passes unanimously 6 to zero and commissioners, that places you under your calendar, are considered to be routine and may be acted upo...

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