Approve. Member rajeo. Yes. And chair williams . Aye. All right, so we are adjourned. It is 4 33 p. M. Thank you, everyone, for sticking with us and well see you tomorrow. Thank you. Bye, everyone. See you tomorrow. The meeting is closed. Just want to notice we didnt have. Can you call the roll . Im going to read my script first. This is held by web x modifying requirements for inperson meetings during the coronavirus disease emergency. This committee will be convening remotely until the committee is authorized to meet in person. Public comments will be available on each item. Each will be allowed three minutes to speak. Comments during the Public Comment period are available by calling 14156550001. Again its 14156550001. Access code is 1469968636. Then pound and then pound again. When connected, youll hear the meeting discussion, but will be muted and in listening mode only. When the item of interest comes up, press star 3 to be added to the speaker line. Speak clearly and slowly and
Office testified. This isan hour and 20 minutes. I thank everybody for joining us today. Both virtually and in the hearing room. And also like to thank the witnesses for their participation in this important and timely oversight hearing. Before we begin id like to take this opportunity to note some important requirements. Let me begin by saying that Standing Health and Committee Roles at practice will continue to apply during hybrid proceedings. All members are reminded that theyre expected to adhere to these standing rules and put in a courtroom. During the period designated by the speaker the committee will operate in accordance with House Resolution 965 and subsequent guidance from the rules committee and canada respects the rights of all members to participate. House regulations require members to be visible through a video connection throughout the preceding though please keep your cameras on. Also, please remember to remain muted until you are recognize to minimize background noi
Selloff. The dow industrials down 36 points, nasdaq up 61 and s p higher by 3 and a quarter. This as we await testimony from treasury secretary Steven Mnuchin and Federal Reserve chairman jay powell today, both on capitol hill later today. This follows a huge selloff yesterday sparked by an open Supreme Court seat and impact of it on the ledge Kellyanne Conway slalegislative agenda. Dow indusn 500 points, nasdaq lower by 14 and s p lower by 38. The state of our cities, the department of justice naming three major cities anarchist jurisdictions that could lose federal funding due to ongoing unrest. Rudy giuliani is back with us with his take on all of this. Then, fine on the field, nfl handing out massive fines for mask violations, all the numbers coming up this morning. Women and wellness, how some are expanding business while keeping their cool in the era of coronavirus. Super model Kathy Ireland is here with lifestyle tips you dont want to yo miss. Mornings with maria is live right n
Clock to show you how much time is remaining. All members and witnesses need to be especially mindful of the fiveminute clock. At 30 seconds remaining ill , gently tap the gavel to remind members their time has expired. To simplify the speaking order process, the commission has decided to order ourselves alphabetically. With that, welcome to this virtual hearing convened by the congressional oversight commission, pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As part of our oversight work, the commission has decided to hold this hearing today which will examine the main Street Lending facilities. The Federal Reserve established the main Street Programs to support lending to small and mediumsized businesses, and nonprofit organizations that were sound before the covid pandemic. The program operates through five facilities which we will learn more about this morning.
Small and mediumsized businesses that were in sound Financial Condition before the virus impact of the economy we will hear from the head of the fed in boston and banking and business leaders. Will come tog order. This is a hybrid hearing meaning some of our commissioners are appearing in person and witnesses will testify remotely. Let me offer a few Video Conferencing reminders. Before you start speaking there will be a slight delay before you are displayed on the screen. Click the mute button until your turn to speak or to ask a question. If there is a technology issue, well move to the next speaker until it is resolved. You should all have one box on your screens labeled clock to show you how much time is remaining. Congressional Oversight Commission pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As a part of our oversight work, the commission has decided to hold