Committee will come to order. The panel will take their seats. Chair now recognizes the gentleman from kentucky, mr. Barr, for five minutes. Thank you, mr. Chairman. Mr. Woodall, since youve been the topic of much conversation as a fi beta kappa from kentucky, fellow kentuckian im going to leave you alone for the most part today. Let me start with Bank Regulators, prudential regulators and just note at a macro prudential level fsoc and banking regulators have participated in International Agreements with the Financial Stability board, basel and other forums and the main difference between u. S. Requirements and those promulgated internationally is that it seems that our domestic standards are more stringent than our foreign counterparts. A few examples, capital surcharge on Global Financial firms nearly doubled the International Standard. Supplemental leverage ratio that is double adopted internationally. A liquidity coverage ratio more restrictive than the International Standard and a
Thank you. The gentleman yields back from a very salient point which i think he will agree with the chairman that just citing interconnectedness is not enough of a criteria because no one else from the panel, i see, was able to answer your question as well. My daughters former Lemonade Stand is also interconnected if you go through the whole realm so i think there has to be more substance to it than that. But with that, i will yield to mr. Tipton for five minutes. Microphone, please. Does that work . Thanks for taking the time to be here. We have a large group and id like to echo comments made by mr. Lucas and mr. Stivers in regard to Community Banks, something critical for rural america, particularly in my district. Youve had to raise your hands simply because of the size of the panel several times here but i would like to be able to just get a sense of your feeling on the panel who is concerned about the challenges faced by americas Community Banks and Financial Institutions in these
16. Im happy to. Nkats, now just three years old, was the first new center at nih again, quite a long time and was focused in trying to identify the bottle necks from going from basic science discoveries to benefits. In collaboration with our partners in the private sector. I think initially there were some concerns that nih is becoming a drug company, that really was never the plan and is not happening now. Instead, we are identifying areas of Technology Development that no Single Company could undertake, but working with them, we can give you just one example. The effort to try to figure out when youre developing a new drug, whether its going to be safe in humans or not. Has been a real difficult one. We use animal studies, small animals, large animals. Its not that accurate. Its slow, its expensive. We probably lose drugs along the way because some mouse got a slight liver issue and it probably would have had no relevance to humans but we sort of lose the drug at that point. Wouldnt
Cancer, what we can do about it. But the other component which is a longterm ambitious to be sure effort is this cohort of a million or more americans, which we could be studying for virtually all diseases and knowing that you are a dentist i would certainly include in that such things as periodontal disease. We know the environment and genetic risk are involved in those conditions. But we really havent had a sufficiently large study with appropriate patient participation to be able to get those answers. This should be a way to go there. So thats true for diabetes, for Heart Disease, for alzheimers disease, for virtually every common condition with a million people, youre going to have enough events you should really be able to dissect, what were the biomarkers that warned this would happen what were the environmental factors that played a role. We never had that power before we aim to get it. Thats fascinating stuff, and could really advance the advancement of diseases and cure diseas
Include a Victims Compensation fund the company said it will set up. With more on this alan kam, former nhtsa official and director of Highway Safety associates. Always welcome to the show. Good to have you here. Two engineers are being suspended and some outlets are naming ray dejorio, gary altman, one lead designer of the switch. The other a Cobalt Project manager. Are these guys going to becomescape quotes . Well they each have a different kind of problem. Mr. Degorgio signed off on the product change from the gm supplier of the ignition switch, which is delphi to beef up the ignition switch somewhat even though it still didnt meet gms own specifications. Years later in 2013, he was deposed under oath and in Product Liability case, melton versus gm and he said, and he testified under oath that he was unaware of any Product Design changes in the ignition switch. So senator mccaskill said at the Senate Hearing last week he is lying. That appears to be the case. Gerri changed his stori