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Payroll and pay unemployment bills or create jobs in other sectors so we can get the economy up and running? there's a difference between spending just to make payroll that is gonna run out and creating jobs. >> important question. in other words is the stimulus helping to maintain the status quo in a troubled time? i would say yes. the other issue -- >> greta: that's not good. >> that is not good. that may not necessarily be good. new indications of what is going on with the banking sector. how we need to get the banks lending again. they are sitting on record cash piles afraid of new regulat...

Payroll and pay unemployment bills or create jobs in other sectors so we can get the economy up and running? there's a difference between spending just to make payroll that is gonna run out and creating jobs. >> important question. in other words is the stimulus helping to maintain the status quo in a troubled time? i would say yes. the other issue -- >> greta: that's not good. >> that is not good. that may not necessarily be good. new indications of what is going on with the banking sector. how we need to get the banks lending again. they are sitting on record cash piles afraid of new regulat...

Latest updates on this topic from reliable sources.

Environment. we see the same thing in u.s. financing where we say we're going to take the housing cuts out of fannie and freddie and the first mortgage in order to protect the second mortgage, which should be where the first cut happens. >> right. >> how much will hollande's emergence, if at all, affect the risk of write-downs at big banks for their debt? >> well, you know, i think what you've got in europe is a problem where the banks were heading towards a sort of american-style lehman brothers-type meltdown. the european central bank has an italian in charge now. used to have a tough french...

Latest updates on this topic from reliable sources.