Assume if you promulgate a rule thats more protective of down seemers than a state has made that you deem that state to not be adequately protecting consumers. Mr. Corcray we wont seek to occupy by the field in that way. What we will do, if there is a federal intervention, and this is not determined, that will coexist with state regulation and authorities. Mr. Mulvaney lets be clear and honest. You do intend to preempt state aw in certain areas. Mr. Cordray i dont think we preempt state law. What will happen mr. Mulvaney in a letter of february 11, 2016, to my ffice. I asked about this particular issue. You said among the bureaus goals is to ensure consumers are offered certain minimal protections no matter where they are located. State laws that afford greater protection would not be preempted by a Bureau Regulation on small dollar lending. The obvious implication to anyone who speaks the english language is states who offer less protection will be preempted. Mr. Cordray what i would
Republicans say they have coopt these details from a plant bernsen bowls offered last year. In this letter to the president , Republican Leaders right this is by no means an adequate longterm solution. It will require fundamental entitlement reform. Indeed, though both plant is the exact type of imperfect, but fair one without hurting our economy and creating jobs. Today, the white house has demanded an offer from republicans. They now have one. Back to you. Llri rich edson, and he thinks. The market is taking a breather today. Dupont and 3m are the biggest draggers on the dow. Early stocks rising out of the gate out of some good news out of china over the night. Hitting a seven month high, but then the u. S. Isf number hit at 10 00 a. M. Eastern and a wave of selling. Manufacturing activity contracted in november. They say the factory index came in at 49. 5 in november. Down from almost 52 and october. Keep in mind, any number below 50 means contraction. Above 50 equals expansion. Inv
Well get his take on the economy and the companys growth plan. A cnbc exclusive. Would you get a mortgage from that girl . No, from walmart. A lot of people say they would. Whats that all about . Were going to run it down later on power lunch. We start with my partner sue herera in the center of the action downtown at the nyse. Stocks are slightly lower right now despite those fiscal cliff anxieties. Theyve been pretty steady throughout the day. The s p 500 broke above its 50day moving average, believe it or not. Earlier in the day its backed off a little bit. Economic news and new data shows u. S. Manufacturing falling to its lowest level in three years. And there is a little nervousness about the president taking to twitter at 2 00 p. M. Eastern time to talk about the fiscal cliff negotiations that are going on. But it is the first trading day of the month and some on wall street are getting bullish for year end. It is going to be a december to remember, i predict it. I think this is
Yet, the economy, the economy was about to bust out and washington snuffed it. We had it in hand, we had to turn housing with home builders, and we had to turn to booming order from boeing. And banks were getting their balance, and oil and gas industry started booming and opportunities for new petrochemicals hiring tens of thousands of people strongest in years. People, it was all come together. And now washingtons crushing it. Best of all, people are starting to get hired again. All those industries are just mentioned were growing, all of them looked like a real good year to expand. Business people are in retreat, and their leaders, many of whom speak to me, are done hiring. And they want to fire, cutback, so she saw the chaos from capital coming and did the right thing for shareholders, when the right thing not that long ago was to hire, not fire. Washington with its sickening inability to compromise wrecked it, wrecked it all and took what was developing into a beautiful bull market
No one cares. Anyway i can put another log onhe fire. Im going to bed. Stephanie exactly. Here she is in the current news center. Shes a lot younger than i am. Shes pluckier, like an energizer bunny. Stop that. Stephanie here she is. Good morning, everybody. Obama for america is using its Campaign Email list to put pressure on lawmakers to extend the bush tax cuts for the middle class. The latest from Stephanie Cutter includes a twominute video reminding voters that the President Campaign and won on that same platform. Obama we need to give tax relief to working families trying to raise their kids to keep them healthy send them to college, keep a roof over their heads. Thats the choice in this election. The administration is still asking you to send in stories about what being able to keep about 2,000 more a year means to you and your family. The president is planning to meet with state governors this week and the business roundtable, a big business lobbying group. This morning fiscal