I am proud to say it led to the first bipartisan package in decades. It took time and a willingness to acknowledge that no party has a monopoly on good ideas. M proud of what we are what we created together. Although we were already holding these hearings in our committee, we require that others hold them also so that all members have a chance to be heard in front of congress. Hopefully, more good ideas have the chance to see a light of day. I couldnt ask for a better partner than our Ranking Member, tom cole. We come from different parties, but we share the same dedication to this institution. What this is really all about, a wellfunctioning house allows us to tackle the issues that can make a positive difference in peoples lives and that is why we already for prep congress and the first place. Before i turn to our ranking on the job to for the house of new parliament parliamentian. Mr. Jason smith. Mr. Cole and i have said a lot about him to his predecessor. And he and his predecesso
Theres no room for the public, but this is all streaming and there will be an unedited version that anyone can watch later. Our witnesses are participating by Video Conference today and some senators are as well. I would like to Say Something about mass. The office of attending position that he says since were six feet apart, we dont need to wear masks, although some may. I have one and i wear it outside because as dr. Redfield reminded us yesterday, its extremely important tool for stopping the spread of covid. Im grateful to the rules committee. Sergeant arms, the capitol lice and chun check and Evan Griffith and the people with all their hard work in helping us keep safe and helping us do these conferences by video which everyone has become pretty expert. Senator murray and i will have an opening statement. Well turn to our witness who we thank for being with us today. Each witness if you would summarize your remarks in five minutes, that would leave more time for questions and answ
Question, we will move to the next senator until resolved. I remind all senators that the five minute clock still aflies. You should have a box on your screen labeled clock that shows how much time is on your screen labeled clock that shows how much time is remaining. But we have had some troubles, and i have had senators who cant find that box or dont see it. And so, in fact, last hearing one of the senators ask me again to get a reminder, i will do that at this time for everybody. So at 30 seconds left on your clock, there will be a tone, a bell ring, to remind senators and the witnesses that their time has almost expired. At the end of the five minutes, a bill will ring. That way we can all know how the clock is working, even though we dont find it on our screens. Today we will receive testimony from the security and Exchange Commission chairman jay clayton, regarding the work and agenda of the sec. I thank you chair clayton for your appearance before the committee today, which is e
Sen. Graham i think we have senator blumenthal remotely, is that correct . Is it ok if we move forward . Sen. Blumenthal absolutely. Sen. Graham this is about censorship and suppression of the 2020 election. Sort of a deep dive when it comes to twitter and facebook about the platforms and the decisions they make, how they make them, can we do better, chemically do we need to do better . The first thing i want to talk about here is health risk associated with social media. A 2018 Pew Research Center survey of nearly 750 13 to 17yearolds found that 45 are online almost constantly and 97 use social media platforms such as youtube, facebook, instagram, or snapchat. If so why are we having this hearing . The products that these two companies offer, people like and they use. So the bottom line is theyve probably been more successful than their wildest dreams, and theyre having to make decisions that offend people on the left and the right. And what were trying to do is look at section 230 an
The foretwoity was an intent. I think thats something that we should all explore. Thank you. I have worked on legislation. Its a little late in this session under your tenure that would create guardrails and prevent these kinds of failures and abuses. I think your comments were appropriate. We allow companies to still do they have to provide Real Transparency which they dont always. Have to reward workers not just shareholders. Senator brown ill close with a statement. We saw earlier this year the pandemic crashing our families, hospitals, and the economy. How the market seized the up. The s. E. C. s recent report on interconnectedness in the market offers insights but no real policy recommendations. I know that you and vice chair and represent duty pute secretary money market reforms were not good enough. It is clear your successor, the next banking regulators will need to reduce risk from interconnectedness and excessive leverage. The economy may in the future will depend on it. Than