Good afternoon, today, the Supreme Court heard arguments in a case that could strike down the Affordable Care act in its entirety. Their decision could take Health Care Away from 20 million americans. It could take away protections for more than 100 Million People with preexisting conditions. And hurt the millions of americans who have come to rely on the Affordable Care act. Getting rid of the Affordable Care act will take us backwards. To a time when people could charge a woman more for her health care than they could charge a man simply because she is a woman. To a time when pregnancy could be considered a preexisting condition. It will take away free Birth Control and contraceptive coverage for women. This is all happening at a moment when our country is suffering to a pandemic that has claimed more than 238,000 lives. And we all know that if the Affordable Care act is struck down, communities of color would be hit particularly hard. Blacks, asians, hispanics, native americans. The
At virginia tech. Shes also a member of the white house transition project advisory board. Thanks for being with us on washington journal. Karen good to be here. Host the white house transition project, tell us about it. This is a nonpartisan, nonprofit entity. It is staffed by Political Science professors and others around the united states. 1990s for thehe white house interview program. They were trying to develop some institutional memory by talking to people that had various white house death and over time. Staff positions over time. They can find out what happens to staff positions for both parties. Directedolved and is by you speak directly with those Transition Teams from those campaigns. What we do do, really beginning well before the candidates campaigns are putting together their Transition Team. But after each party nominates its candidate. What we make available to transition directors is our materials. Many will be Password Protected and not available to the general public
Experiencing unprecedented declines in activity. Although the remains considerable uncertainty about the economy, we know that the Banking System has served as a source of strength throughout this period. They have supported their customers and committees by pppinating 500 million in loans. The Banking Systems ability to support the economy reflects the Industries Strong capital and liquidity position. In the Second Quarter of 2020, Equity Capital increased to more than 2. 1 trillion, which 13. 4 . Ted to highervels were slightly than the quarter preceding the pandemic. Taken meaningful action to provide banks while maintaining safety and soundness. I will provide an update in five areas in which we have made significant progress. Supporting communities in need, encouraging outstanding loan making. I would like to briefly touch on each of those, starting with our response to the Economic Risks related to covid19. We undertook a series of actions that helped maintain stability in financ
And were awaiting comments on president elect jooe biden. And later, the biontech ceo will be here to discuss their groundbreaking results showing their vaccine with pfizer is more than 90 effective. Thanks, welcome once again to power lunch. I am john fort check out some of the tech heavyweights Apple Holding up after announcing its own line of chips for computers and names like amazon, facebook, microsoft all under pressure at this hour. And on the flip side, take a look at whats leading gains in the dow. Its walgreens up 8 , boeing up 5 for more on the divided market, lets go over to john pisani you hit it right. It is essentially out of growth and the rally in cyclicals value, not always the same thing but cyclicals and values are continuing. John mentioned walgreens theyre going to be an administrator of the covid shot. Walgreens and cvs moving thats a very specific story by bu si but cyclicals Like Aerospace boeing has been a huge mover in the last few days, 3m, oil stock is anot
Moving into the red. The News Conference set to start at noon. Were expecting it to start imminently. Meanwhile, we learned that Contra Costa County and Santa Cruz County were bumped back into the red. The governor warned based on current covid infect rates that are the counties are likelying to follow the move and be bumped again in the colorcoded tier system. Were waiting to learn if others are on the list. The News Conference is to start at noon. Californias in a better situation than other parts of the country where infects and hospitalization rates are surging. The governor yesterday indicating that dr. Gale today will announce more restrictions for some counties. Anticipate that we will see some counties moving backwards not forwards and this is exactly why we designed the tore status the way we did. It was about being more and less restrictive not based upon political whim but based upon the data. The epidemiology and facts. Reporter the governors comments came the same day as c