[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
Our heavenly father, may your holy name be honored. May your name be held in high regard in this senate. We give thanks to you for you are good, and your steadfast love endures forever. You have watched over this nation through various times of peace, prosperity, turmoil, and war. May we continue to look to you and be a people who seek your face. Draw us near, and may we draw near to you. Blessed is the nation whose god is the lord. Reveal to us our sins and forgive us. Reveal to us also your love, and enable each of us to love you with all our heart, soul, mind, and strength. Today, i pray that you grant to these senators of the United States the spirit of wisdom, the fear of the lord, and the courage to act by the counsel of the lord in all matters great and small. May they have your perspective on all things. May your kingdom come and your will be done here in our nation as it is in heaven, in and through these senators. Bless their families and their health. Give them your peace. O
I dont care if mondays blue. Tuesdays gray and wednesday too. Thursday i dont care about you. Its friday, im in love. Monday you can fall apart. Tuesday, wednesday lauren welcome to fbn a. M. Im lauren simonetti. Cheryl good morning, im cheryl casone. Lauren lets take a look at how your money is moving this friday. Dow futures gaining 223 points, could swing into positive territory on the week with just a 77 point gain today. China is removing some Foreign Ownership limits to its companies and that is seen as a positive. Cheryl lets take a look at the price of oil, shooting up overnight, a possible terrorist attack on an Iranian Oil Tanker, that tanker was 60 miles off the coast of saudi arabia, was most likely hit by missiles, according to the news agency which also reporhe you crew was unharmed. Lauren were seeing a strong promising trade negotiation thats are happening here again today. The shanghai composite gaining 1 . Cheryl we may get a brexit deal. Hope springs eternal that the
Whether or not you intend to have libra and your digital wallet register in each of those countries. So that there would be a regulatory oversight. What we have found is an amount of individuals we have interest in the under bank. We are interested in those who are not bank. Those individuals who are supposed to be pay more than anybody else. We have institutions here. Minority depository institutions. If you want to show that you are doing the right thing, with all of the money you have, you can do it here in the United States and other places also. That is an answer you should know. I urge you to go back and find out. I would guess that there are zero dollars there. You should thereby then look at your policy and change it. Louder thans much words. You do have a trust factor. I met with a lot of your investors who are all pulling out of libra. Lets look at the news. The other thing that is important to me is our democracy. Democracies around the world. You tell me, when you look arou
[inaudible conversations] good afternoon and welcome to the Cato Institute. I direct the center for global liberty and prosperity here at cato the title and style of the book were featuring today, socialism sucks, is admittedly more irrev vanity than the typical more staid Public Policy books but i can assure you that the authors that we are featuring today are serious, accomplishments economyis whose decade of scholarly work inform the publication. Thesen title two economists drink the way through the unfree world gives a flavor nor unton generalizational approach. That subtitlele didnt surprise me. I tend to run into ben powell and bob lawson at economic or academic conferences around the country, and around the world, and inevitably they have drinks in their hands. Probably because we chat at receptions, hotel bars and the like. But the conversation is always interesting, informative and fun. And thats also true of this new book. This is a light book about a heavy topic so its fortu