81. 00 just a smidgen above the more 5 decade low of 79. 00 set in march the last time before march that the index was below todays level was february of 1988 during the sell off that followed black monday in october 1987 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right now i mean once a day and the connections are 1087 black monday the crash of that here is very important because the solution then was to extend Bank Credit Facilities thats how Alan Greenspan Ronald Reagan and robert rubin the plunge Protection Team or their working group of finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks so they did exactly what they were doing but i. Bigger scale and then we have of course another major move down in 1909 we had a bomb crash more or less in
A negative Interest Rate environment that is toxic for banks so the stocks 600. 00 banks and x. Which covers major European Banks slumped 5. 7 percent on monday to close at 81. 00 just a smidgen above the mall 5 decade low of 79 set in march the last time before march that the index was below todays level was february of 1988 during the selloff that followed black monday in october 1987 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right i mean once again and the connections in 1907 black monday the crash of that here is very important because the solution then was to extend Bank Credit Facilities thats how. Greenspan Ronald Reagan and robert rubin the plunge Protection Team or the working group on finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks
Street com they say hit from all sides European Bank stocks swoon to 1988 low leaks about Money Laundering a resurgent pandemic china risks exposure to turkeys financial crisis all in a negative Interest Rate environment that is toxic for banks so the stocks 600. 00 banks and x. Which covers major European Banks slumped 5. 7 percent on monday to close at 81. 00 just a smidgen above the mall 5 decade low of 79. 00 set in march the last time before march that the index was below todays level was february of 1988 during the sell off that followed black monday in october 1907 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right. I mean 1988 and the connections in 1907 black monday the crash of that year its very important and because the solution then was to extend Bank Credit Facilities thats how Alan Greenspan Ronald Reagan and robert rubin the plunge Protection Te
The solution then was to extend Bank Credit Facilities thats how Alan Greenspan Ronald Reagan and robert rubin the plunge Protection Team or that working group on finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks so they did exactly what they were doing but on a bigger scale and then we have of course another major move down in 1989 we had a bomb crash more or less 9093 we had the dot com crash in 2000 we had the 2008 subprime crash and each one of these crashes were caused by the exact same thing over indebtedness too much leverage and no accountability no than foresman of regulations by the f. C. C. And then send in others and each and every time the policy from the Central Banks is to expand credit line and say do it again but do it bigger and now in 2020 we. Of now some more thing happening all over again its entirely predictable entirely preventable but as restraine
Lowincome families and people of color [indiscernible] in real time. Help us now in real time by passing this resolution. Thank you. Thank you. Next caller, please. Good afternoon, supervisors. Im with the Mission Economic agency and calling in strong support of the resolution before you. Were currently only meeting 20 of our low and moderate housing goals and think its important theres an antidisplacement lens when handled in certain ways it can contribute to displacement of lowincome residents and theres history of market rate housing in overbuilt, lowincome areas in the city. Recent study of university of minnesota identified rent pressures can be put on those who are paying the lowest rents in an area near new market rate housing. What kind of housing you build and for whom and where matters a lot not just quant. On the quantity front we think there should be no increase insensitive communities as mapped by the urban displacement project. For these and other reasons we think its ve