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CNN Live At Daybreak

America's New War: Wall Street Employees React to New Day

Aired September 17, 2001 - 07:39   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
PAULA ZAHN, CNN ANCHOR: Right now I'm going to check in with Bill Hemmer, who continues to stand by outside of the New York Stock Exchange, where many thousands of New Yorkers are just beginning to show up for work. What are you seeing now, Bill?

BILL HEMMER, CNN CORRESPONDENT: Indeed, they are, Paula. People continue to stream in down here. And I can tell you the dust and the smoke in the air is still reminding a lot of people, a lot of people of what happened last Tuesday and for many of them it's their first time back. We talked to some people in line going through security checkpoints at this time. They say it smells like Tuesday. It smells like death. That's a bit of the attitude we're picking up right now.

Let's bring in Anthony Alvarino, who's just walking by here. First time back Anthony?

ANTHONY ALVARINO, NASDAQ BROKER: Yes, since Tuesday morning.

HEMMER: OK, you're a trader on the floor?

ALVARINO: Yes.

HEMMER: How do you feel coming back?

ALVARINO: There's no words to describe it. It's terrifying, it's devastating. I lost a lot of friends and it's just a terrible feeling.

HEMMER: Do you think people coming back to work in this part of Manhattan are prepared for what you're describing to us emotionally?

ALVARINO: I think some have an idea. We've dreaded it all weekend, but we knew we were going to have to come back. (AUDIO GAP).

HEMMER: ... think it can be said enough is the friends that you lost and the family members that were lost, as well, there's an incredible amount of intellectual capital that went down in those buildings as well.

ALVARINO: Without a doubt.

HEMMER: How does this market respond when you know that fact?

ALVARINO: I think initially it's going to be very volatile, like everybody has said all weekend, and we're going to have some tough couple of days ahead of us probably, but, you know, all in all I think when we get opened and do what we have to do, we're going to be all right.

HEMMER: All right, have you talked to friends, and if so, what are they saying?

ALVARINO: Basically the same thing. They just, nobody can believe it this, that the World Trade Center is not there anymore. That's the biggest thing. You just can't believe those towers are not there, that they came down, and we were here when they came down. It was unbelievable.

HEMMER: I talked with one guy going through security at this point. He says it smells like Tuesday. It smells like death. With the smoke in the air and the dust still around here, the reminder is still obvious and clear.

ALVARINO: Oh, without a doubt.

HEMMER: And the other thing, Anthony, that I think really strikes people, we're only three blocks from the World Trade Center and everybody can see that sight when they come down here.

ALVARINO: That's true. That's one sight you're always going to see and it's always going to bring back that feeling of Tuesday morning, especially when the second plane hit. That was the, probably the most scariest part.

HEMMER: Well, listen, I'm going to let you go. The security is extremely tight today.

ALVARINO: As it will be.

HEMMER: You're going to have a long wait to get inside. Best of luck, OK?

ALVARINO: OK, thank you.

HEMMER: Much appreciated.

Paula, I can tell you after walking up the street, four our viewers, the New York Stock Exchange up the street about a block on the left hand side with an enormous American flag draped across the front facade. That was put up over the past few days, again, as a symbol to remind people of the strength of the financial markets that will be kicking off again in less than two hours time.

I also want to pass along to you some of the other reaction just picking up from people coming back to work today. Some are saying hey, listen, it's time to get back to work and some are suggesting it is happy to see familiar faces. You know, a number of people, a number of people who when those towers went down they described the situation as chaos and in addition to that people just scattered and went in numerous different locations and directions and to see people once again back here, for many folks that was, indeed, a happy sight. We have some videotape, obviously, of people coming back. American flags are being carried by many folks. Hugs are being exchanged, again, as symbol of warmth and emotion that continues to be expressed down here.

The other thing that I think is quite obvious is the security detail. We're seeing dogs go through bags laid out on the sidewalk here, dogs sniffing, is, indeed, being a top priority at this point. And the other thing, a security detail, just trying to get into the exchange, normally they say it'll take about 10, 15 seconds to clear security. But what we're seeing from our perspective -- I don't know if we can take our cameras up here again, it might be a bit difficult past those Con Ed trucks there, the electricity trucks here -- but there are hundreds of people who work inside, traders and employees, waiting in line, several hundred people deep.

It's going to be a long, difficult task not only trying to get inside but also trying to figure things out. Some people told us that they wanted to get here early to make sure their workstations were still OK and that their computers were up and running.

But Dick Grasso, the chairman, says don't worry, things are working and things will work fine when we get under way, again, in about an hour and 45 minutes from now -- Paula.

ZAHN: I'll tell you, Bill, one of the things our producer, Kathy O'Hearn and I, witnessed yesterday in going into some of these buildings that are right at ground zero was that many of the lobbies have been turned or transformed into supply areas and in many cases there are still cots basically lining, you know, the major first floors of the buildings. So a very changed landscape that New York workers have to get used to and adjust to this morning.

Thanks, Bill. See you a little bit later on this morning.

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