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Again, that was despite the 209-point selloff on the very final day of the month. we have brenda here and to you first. what do you think wins out in this case, if it is a scandal all the time or for that matter the economy? which is going to decide where the markets go? >> well, the markets do not mind, wall street does not mind if washington gets tied up more and more in knots because less will get done. that is better for our economy and better for wall street. so i think they're watching the scandals with one eye, also watching the economy. at this point the economy is pretty soft but the ...

It's definitively going to make a move. >> what of it's cutting back? >> then i pull back as well. they're saying maybe possibly some day. >> neil: you don't think some of this has frostiness feel? the subject of potential bidding wars and the internet -- >> this is a huge bubble. >> neil: we all remember the bubble. >> try to figure it out. don't try to get the top. you just don't want the bottom you got to get out at some point. now is not the time. the internet bubble in 1998, 1999, was different in the sense that retail investor was heavily in the market with its open cash. theirself is pr...

And so everybody benefit. >> whoa, whoa, how does the companies have more money to spend? >> they do stock offering as, borrow money. >> you can raise money as a start-up company knowing you can go public at a higher valuation later. >> no, i understand that. but it's not like they're doing these stock offering a, oh, my gosh, stock is up 25%. let's do another stock offering a. those are far and few between. i don't think there is much connection. >> they could go public and do a nasdaq 5,000 situation. >> i understand, that's the one exception. the internet bubble that created jobs and what h...

Fast, in part because the fed -- ben bernanke has been pumping trillions of dollars into the economy, keeping interest rates at all-time lows, near zero. and wall street likes that -- >> jamie: i imagine -- is that the right answer, though? >> absolutely not. there are a lot of economist who is say this is the bubble we are going to be facing this bubble at some point. but for now, we are seeing wall street saying, who cares about the cuts? they are not that big of a deal? you expect the curts to be draconian and that's what the white house has told us and the republicans on defense spending, ...

Guy, we have actually defeated militant islam, think is a false premise, and it's dangerous to sell that to the public. we have a lot more work to do. >> neil: he's pretty smart and his perception about terrorist threats was dead on. so i will ask you about the gm reference that the vice-president made, and that is that gm is alive and well and back. do you quibble with that as well? maybe it could be having problems? explain. >> i don't quibble at all. i think it's flatly wrong to say that gm is now alive. on february 14th, gm released its preliminary numbers, whichs are not yet audited, and ...