[inaudible] thank you. The subcommittee will come to order. Without objection the chair is authorized to declare a recess of the subcommittee at any time. Without objection members of the full committee not on this subcommittee are authorized to participate in todays hearing. Members are reminded to keep their video function on at all times, even when they are not recognized by the chair. Members are also reminded that they are responsible for muting and unmuting themselves, and to meet themselves after they finished speaking. Consistent with the regulations of a Company House resolution 965, staff will only mute members and witnesses as appropriate. We not recognized to avoid inadvertent background noise. Members are reminded that all house rules relating to order and decorum apply to this remote hearing. This hearing is entitled Holding Financial regulators accountable for diversity and inclusion. I now recognize myself for four minutes to give an opening statement. Todays hearing fo
This year. It has been on a tear, and we will, of course, continue and watch and see what the major indices do today we begin with twitter and that massive security hack pressuring that stock this morning. It is off the lows, though, up about 1. 5 that attack targeted some of the companys highest profile users including elon musk, former president barack obama, and others joiningi joining us now is robert hirsovek good morning. Good morning, everyone. They say it was a coordinated social engineering attack that successfully targeted some of our employees who had access to tools. What this said to me is this was a con more than it was a particularly sophisticated technical attack, and im reminded all of twitters employees are working from home. I mean is this the first red flag of working from home . Its the first one thats made so much media i can tell you from personal experience we do a lot of Cyber Security, manage a lot of corporations were seeing a growth in phishing like weve nev
Andrew ross sorkin with joe kernen becky is off again today a little in the red. The treasury yields and earnings that may have an impact on all of this. The 10year note, we are now below. 6 we are down to. 592 we can debate what that means for today. Discussing Market Recovery and earnings Kansas City Southern and United Airlines ceo and health and Human Services secretary you want to stay tuned to squauchl the nasdaq down pretty significantly. It was up two or three hundred. It was up and did you know and up and down. It was really crazy. You heard cramer talking about that it was truly crazy. Insanity. The didnt hold on to the big gains. I think it was down almost 300 when cooperating on that at the end of the day, well see. I heard it said, well, you gave him an out he could have been resting on his laurels by now saying i would at least nuance it so i could claim to have been right if we had extended here. Doesnt it feel extended here. If i were paulson. Fur trying to be right all
Asset management lets go to wall lets check the major averages they did jump following the release of the jobs report the nasdaq 100 and some big names within it. Amazon, microsoft, netflix among those hits new milestones today. This incredible ability for the market to shrug its shoulders at the spikes in coronavirus cases around the country i mention some of those new highs. Everything from amazon to netflix to square and twilio and tesla and docusign what the you make of that ability of the market to stay focused on whats ahead . I think this is really difficult time right now for investors because you kind of have to keep three things in your head at all times the first thing is that we are having this resurgence and the data from some of the biggest cities is getting worse and worse and now out in the suburbs and in some of the states that had not been touched by this before, so you have to keep that in the back of your head at all times. Maybe it chasens you and calms you down a
Vergiverg diverging in a different way retail is an important part of apple strategy overall, but what youre saying about the markets being down in the midst of the pandemic, it is not easing off as quickly as some had hopes, carl indeed, one last part of all of this the journal now with a couple headlines on the tape saying that china is telling the United States that crossing red lines could put the trade deal at risk. So sort of a continuation of what were talking about all week trade risk when it comes to the u. S. And china which is not a new story at all lets talk about the markets, the founder and managing partner at full cycle. Which is really focused on, ibrihim, and restoring technologies and all of that is coming to light, it is not just about whether or not people should be moving around, but whether or not people can how can this pandemic, working from home, which i think fits into your portfolio thesis, how is this playing out for you and where do you think it goes from h