CNBC Top Five Videos: GM, Lehman & More
Volatility ruled the market Thursday because of oil prices, financial fears and an $18 billion acquisition. Following are the day's top five videos.
Revamping U.S. Financial System
"Cooperation between the Fed and the SEC is taking place within the existing statutory framework, with the objective of adressing the near-term situation. In the longer term, however, legislation may be needed to provide a more robust framework for prudential supervision of investment banks and other securities dealers."
— Ben Bernanke, Federal Reserve Chairman
Pimco's Gross Denies Lehman Rumors
"We continue to trade with Lehman, which means we accept them as a counterparty. We have investments in Lehman ... Not in terms of duration or in terms of dollar amount have we reduced our exposure to Lehman today or in previous days."
— Bill Gross, PIMCO founder and CIO
Stop Trading! Listen to Cramer
"This is just an extremely hard market. Everybody keeps wanting to call the bottom in financials, and I have to tell you, that is just plain stupid. Wait until Fannie and Freddie have recapitalized."
— Mad Money's Jim Cramer
GM's Wagoner on Stock's Plunge
"We don't have plans to eliminate any more brands. We did take the actions we did on Hummer because what of I think had been a pretty dramatic change in the circumstances. But our focus on all of our brands is what can we do to make them more profitable, what we can do to take advantage of the products we have and in some cases, how do we want to evolve the product portfolio into the current world."
— Rick Wagoner, General Motors CEO