[inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] the committee will come to ord order. [inaudible conversations] [inaudible conversations] [inaudible conversations] without objection the chair is authorized to declare recess of the committee at any time. This hearing is entitled an examination of facebook and its impact on the Financial Services and housing sectors. I now recognize myself for five minutes to give an Opening Statement. Today we are here to examine the act of facebook on the Financial Services and housing sectors. Our sole witnesses the facebook chairman and ceo, Mark Zuckerberg. Facebooks plan to create a Digital Currency, libra, and a digital wallet raised many concerns relating to privacy, trading risks, discrimination, opportunities for diverse owned financial firms, National Security, Monetary Policy and the stability of the Global Financial system i and other democrats have called for a moratorium on facebooks
Republicans, it is 2027488001. Democrats, 2027488000. Independents, 2027488002. You content you can send us a text this morning. F that number, 2027488003 please include your name and where you are from. On cspan it is twitter it is cspanwj. On facebook it is facebook. Com cspan. A very good thursday morning, Mark Zuckerberg talked about this issue of trust in his Opening Statement before the House Financial Services committee as he was talking about the company entering the arena of Digital Currency. [video clip] thate idea behind libra is sending money should be as easy and secure as sending a message. Is something that needs to get built, but i get that i am not the ideal messenger for this right now. We have faced a lot of issues over the last few years and i am sure there are a lot of people who think it was anyone but facebook proposing this. There is a reason we care about this and that is because facebook is about putting power in peoples hands. Our services give people a voice
Welcome everyone to the third in our series of hearings. This one on the role of data and prime fancy into competition. I recognize myself, i should state the obvious im, not bitter of the subcommittee, and chairs the subcommittee, the chair of the committee will be here in a few minutes. It has never been easier to share news and information that content and communicate with loved ones, all at a moments notice. Given the technological recognitions it, has added to the balance of power in our economy. Its important for us to understand how this affects americans, what is causing the asymmetries of power and whether these new and growing inequalities are compatible with our democratic values. The committees ongoing is a key part of this practice. Todays hearing, we will examine the role that data plays and maintaining any qualities of power, and how this affects competition. As previous hearings have shown, the growing share of Congress Communications is now controlled by a small number
[inaudible conversations] [inaudible conversations] [inaudible conversations] the committee will come to order. The gentleman from colorado is recognized for five minutes. The other coloradan. Thank you for repeating today. Thanks for your testimony today. I just want to lock one thing down where i i heard to make answers from your earlier. Ms. Maloney was kind of going through a list of regulators, and wanted to know if you would wait for their approval, and she went to a whole laundry list of them and your answer was, for the parts that apply yes, yes,e going to go and seek their approval. Her used the word seek their approval. Other times you said we will get their approval. So just from facebooks standpoint, are you willing to seek the approval or are you going to wait for the approval before anything is launched . Congressman, it is the latter. Thank you for the opportunity to clarify that. We are not going to launch anything until we get the approval. I also, if its okay, want to
Content standards, the social media giant Ceo Mark Zuckerberg is grilled by lawmakers over his policy allowing politicians to lighten political ads. We will play highlights from more than five hours hearings were he e was blasted by members of the House Financial Service committee. Among those, Rashida Tlaib and alexandria ocasiocortez. Then as rising inequality and staggering housing insecurity leave a Record Number of americans out on the street, we go to ground zero of the homelessness crisis oakland, california. This is a disaster. Anit was a fire or it was earthquake, the response would be so quick. But this is an economic disaster. This is a cultural disaster. This is a housing disaster, but they are not treating it like all of the other natural disasters. Amy we will bring you a special democracy now report from a sprawling encampment of 100 people in east oakland that the city just cracked down on this week. Unhoused people there say the city has failed them. Like theyy, it see