Free cspan radio app. Earlier today facebooks david marcus testified before the Senate Banking committee to address concerns over the companys proposed Digital Currency. This is 2 hours and 20 minutes. This hearing will come to order. Today we will receive testimony from david marcus, head of libra at facebook. On may 9, senator brown and i sent a letter to facebook shortly after it was reported that the company was recruiting Financial Institutions and online merchants to help launch a cryptocurrency based Payment System using its social network. Our letter asked facebook for more information about how the system would work. Its access to and use of Consumer Financial information, and facebooks access to and use of information on individuals or groups of individuals in credit, insure, employment or housing. I appreciate facebooks response last week. Shortly after the letter was sent, facebook formally announce ds its intention to launch the Payment System libra and issued a white pape
Free cspan radio app. Earlier today facebooks david marcus testified before the Senate Banking committee to address concerns over the companys proposed Digital Currency. This is 2 hours and 20 minutes. This hearing will come to order. Today we will receive testimony from david marcus, head of libra at facebook. On may 9, senator brown and i sent a letter to facebook shortly after it was reported that the company was recruiting Financial Institutions and online merchants to help launch a cryptocurrency based Payment System using its social network. Our letter asked facebook for more information about how the system would work. Its access to and use of Consumer Financial information, and facebooks access to and use of information on individuals or groups of individuals in credit, insure, employment or housing. I appreciate facebooks response last week. Shortly after the letter was sent, facebook formally announce ds its intention to launch the Payment System libra and issued a white pape
Housing affairs will come to order. Thanks to the new deal and the hard work of our regulators today, most Bank Failures of course never a good thing or generally not a big deal but the quick collapses of Silicon Valley bank and Signature Bank were no ordinary failures. In less than a day, Silicon Valley Bank Customers pulled 42 billion dollars out of the bank fueled by Venture Capitalists and their social media accounts. They created the largest and fastest bank run in history in the following days Signature Bank lost 17 billion dollars. Regulators both republicans and democrats came to gather to prevent the panic from spreading. They increase liquidity, they promoted confidence in our Banking System, they protected deposits of customers and Small Businesses not notably the investors the investments of executives and shareholders. I spent that weekend on the phone with ohio Small Businesses and banks and credit unions. While Small Business owners simply wanted to make payroll. They di
Departments in a move reminiscent of Primary School days, the education days, the former education secretary Gavin Williamson, has been kyrees been ordered to apologise kyrees by independent expert by an independent expert panel for of being a for the crime of being rude to a chief whip, despite the fact that precisely that being rude is precisely the job chief two other job of a chief whip. Two other people Financial Conduct Authority woken up authority has finally woken up and to Banks Authority has finally woken up and blocked to Banks Authority has finally woken up and blocked politicians Banks Authority has finally woken up and blocked politicians from s who blocked politicians from holding them. Any who blocked politicians from holdiithat them. Any who blocked politicians from holdiithat does them. Any who blocked politicians from holdiithat does decide them. Any who blocked politicians from holdiithat does decide toem. Any who blocked politicians from holdiithat does decide to d
All new spending, with the exception of Vital Services and protecting vulnerable people, will stop immediately. The government is to relax planning permission for new onshore wind farms. The changes which come into force immediately mean communities can apply to their local authority to have turbines built. Local authority to have turbines built. Communities may also benefit from cheaper energy. The government hopes the new rules will help avoid a potential rebellion from some of its backbench peers. The Shadow Energy secretary , ed miliband, energy secretary, ed miliband, says reluctance to build more wind farms has led to Higher Energy costs. Energy costs. The government is being held to ransom by a bunch of tory backbenchers who since 2015 have stopped onshore wind being built in england and that has raised bills for families by £180 for every family in britain, were going through a cost of living crisis. Surely now those in st giles those conservative mps can see that its much bet