Supervisor preston. Preston aye. Supervisor safai. Safai, aye. You have two ayes. Supervisor safai thank you. I dont believe that theres any other items before us, correct, madam clerk . Clerk thats correct. No further business. Supervisor safai we are adjourned. Clerk thank you. Supervisor preston thank you. Clerk thank you. Chair fewer the meeting will come to order. This is the special budget and finance Committee Meeting. Im sandra lee fewer, the chair of the committee. And im joined by supervisor walton and rafael mandelman. I thank sfgovtv for broadcasting this meeting. Madam clerk, any announcements. Clerk due to the covid19 Health Emergency and to protect the Board Members and the City Employees and the public, the legislative agenda and the Committee Room are closed. However, members will be participating in a meeting remotely. This precaution is taken pursuant to the local, state and federal orders and declarations and directives. The meeting is through video conversation and
White house and pelosi ibm reported after the close yesterday. Another hopeful update on the vaccine front. Modernas ceo telling the wheat journal his companys account to get emergency use authorization next month. 59 minutes left of trading up just shy of 1 on the s p 500. Coming up todays show, a nearby chopra weighs in on todays google antitrust suit from the department of trust we will ask him whether the government has a strong case against the company. Plus earnings. Netflix, texas instrument, Interactive Brokers and snap all gearing up the report results this afternoon we will bring you all the numbers as soon as they hitting with analysis. We will talk with Interactive Brokers chairman thomas petersfy. Mike santoli is tracking the market action. Ylan moi with the justice diplomats antitrust lawsuit against dealing. And we will constitutes the stimulus negotiations before the deadline to get it done before the election. Mike, start us off on the market a partialal recovery from
Will talk about this later on, but seems like europe is edging one step closer to that 1. 8 trillion euro recovery fund, which would be huge, particularly as the u. S. Cant get it on stimulus. So huge that the euro barely budgets. [laughter] alix it could be worse. Guy it is big news, but i think there was belief in the market that this is a done deal, and europe will ultimately come to the right conclusion and make the stimulus happen, 1. 8 trillion euros. So i think the market had already priced this one. As you can see, unchanged on eurodollar on the back of that. We are getting the jobs data coming through. 6. 43 islittle light, the number. 6. 5 was the expectation. Actually, the prior number devised down a little bit as well. So maybe a little bit of softer data coming through, but the market doesnt care. The market is looking through the virus. All of the bad virus news, you can put that in the rearview mirror. That certainly seems to be the sentiment right now. Lets dig around w
Experiencing unprecedented declines in activity. Although the remains considerable uncertainty about the economy, we know that the Banking System has served as a source of strength throughout this period. They have supported their customers and committees by pppinating 500 million in loans. The Banking Systems ability to support the economy reflects the Industries Strong capital and liquidity position. In the Second Quarter of 2020, Equity Capital increased to more than 2. 1 trillion, which 13. 4 . Ted to highervels were slightly than the quarter preceding the pandemic. Taken meaningful action to provide banks while maintaining safety and soundness. I will provide an update in five areas in which we have made significant progress. Supporting communities in need, encouraging outstanding loan making. I would like to briefly touch on each of those, starting with our response to the Economic Risks related to covid19. We undertook a series of actions that helped maintain stability in financ
Question looms large who pays for the t. V. And toilet paper the answer according to the dutch is your bosses and how much about 2 year 0 s. Or 2. 40 per working day on average this is interesting the lockdown has shifted the way people relationship with their bosses of their companies and how to account for costs and a down to the granularity of toilet paper and the only industry i know where toilet paper costs are incorporated in the p. And l. On a monthly or weekly basis is in the prison business in prison people d are very parsimonious with their toilet paper and its all accounted for due to the nature of that industry so this is what coronaviruses done is created this Prison Planet type of situation certainly and the workers in the netherlands 80 percent of them are racked are basically part of organized labor they have collected. Bargaining so this is what theyre fighting over is 2. 02 euros a day for toilet paper that they now have to buy a home that they used to use at the offi