The release of the tapes means greater uncertainty. The markets have a certain uneasiness about this, and the sense that Clinton is dying a death of 1,000 cuts.

The markets don't like instability and they don't like uncertainty.

We are in favor of greater free markets.

Search engines need to better educate marketers and provide greater transparency into their methods. If they say that a certain percentage of clicks are fraudulent or if they offer a refund to marketers on some clicks, the engines will best serve marketers and agencies by being more open about how they come to such conclusions.

The mistake is thinking that there can be an antidote to the uncertainty.

The next 18 months are to be very tenuous given the financial conditions and the uncertainty in the productions schedules. The cost structures are still elevated and the prices pressures are still downward.