[captions Copyright National cable satellite corp. 2016] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap. Org] next, a Senate Hearing on how federal laws can promote the development of new technology. And christopher hart, chair of the National Transportation safety board discusses self driving cars and recent train, metro, and airline accidents. After that, reaction to the Supreme Court decision overturning the texas abortion law. Now, a Senate Hearing examines how senate how federal laws can help testify before the Senate Transportation subcommittee. This is an hour 20 minutes. Sen. Fischer good morning. I am pleased to convene the subcommittee on surface transportation and margin marine infrastructure, safety, and security for todays hearing entitled how the internet of things can bring u. S. Transportation and infrastructure into the 21st century. This will examine how the internet of things can adv
People reach for yield now, and is an impetuous toward bubble creation and certain Asset Classes . It can be. Thats why we are watching very carefully. Is there any one particular air yaur worrying about right now in terms of asset bubbles . I mentioned leverage lending and corporate debt markets, especially lower rated companies. I think we are seeing deterioration in lending standards. We are attentive to risks that can develop that banks or others may be taking on Interest Rate risk. If Interest Rates, when Interest Rates ultimately begin to rise, that if firms or individuals have taken risks and arent adequately prepared to deal with them, that can cause distress. Among the institutions that we supervise we are certainly looking at management of Interest Rate risk. We are using stress testing in this latest round. We had specific scenarios designed to look at how large banking organizations would fare if Interest Rates were to increase rapidly. And were focused on how firms are man
The bigger banks that were diversified didnt fail. We did it anyway. The big banks didnt want to do it because it was a cross subsidy to the small state banks. The savings loan refused to go along but they refused to take their own and ensured next year. The second thing is we tax equity before you can pay the equity holders. This is a huge incentive for all the banks. To leverage as much as possible. And so the bank capital went down from 20 to 5 , the regulatory minimum, immediately. And those sentives still exist today. So in the postwar period, america was on the winning side of the war. We had a lot of economic stability. In the 60s, the homeowner ship rate, to act 65 . Totally funded by private savings loan deposits and mutual savings banks. Now, the homeowner ship at the time was considered a very good thing. There were no political incentives that we can speak of. America was the land of opportunity. Either they had the zipging house or they continued to save. They didnt take c
I appreciate what the secretary is doing with the restructuring and coming up with a strong internal audit system. However i must express that i am skeptical about how that is going to work. We have the whistleblower protection act but its not enforced. My concern burst of office we have heard so much testimony in thandthe committee about a cultf secrecy and culture of retaliation, and retaliation is a huge deterrent to hearing the complaints. So my first question is to you we heard theres been retaliation against employees. I encountered there is retaliation against patients who might feel they have a complaint against a facility. Are you aware of any retaliation against patients or veterans . I think thats a really important question. Im not aware of any retaliation in part because my Agency Jurisdiction is for employees to come forward with retaliation complaints or disclosures of waste, fraud, abuse or Health Safety problems. Someone could come to us if they thought that a patient
A danger to our citizens and our communities. Secretary fox announced the rule making for the safe transport of crude oil in july of 2014. Were still waiting for those final rules but the longer we delay, the more that lives are actually in danger. And those standards call for tank cars both retro fitting old cars and building new ones for tank car thickness the length of time how long the shippers have to refurbish or build new cars and the speed and routes which these trains take, all of this is in this rule making. I think its critical for us to get some certitude in terms of what the new rules are going to be. So mr. Brown, and mr. Lonegro, just a question to the two of you. About a year ago, jenese whoa eming train carrying 2. 7 million gallons of crude oil derailed in alabama, derailed and spilled oil all over the wet lands. I want to ask to see what your company is doing to make sure that is not happening again. And last year a scx train auto derailed in virginia and spilled 30,