We can provide introductions to them and help them navigate new challenges as they go through the business we like to think of ourselves as a money provider. Peter slen why can a company just go bank in traditional avenues. Speak one good question. Scott kupor sometimes theyre a very risky businesses that are going to lose money for a long period of time in banks unfortunately just arent in the business of doing that or taking risk of losing their capital so we are willing to take that risk in fact about half of what we invest half of an we will lose that money. I cant see a bank being happy about that. Peter slen where does the original money come from. Scott kupor the way our business works as we go out and raise money from a couple of different folks. University endowments are big source of capital so if you look at a Stanford University or yale university, they have large endowments and the abysses endowments to earn a return. That money then goes to help subsidize obviously the co
The dow, s p and nasdaq all now negative for 2018. Thank you for being with us tonight, everybody lets begin with guy adami guy, after a week of reckoning for stocks we are left with a hard question. Is this a healthy run of the mill correction . Or the start of something bigger, perhaps a bear market . Because i can say that thousandpoint drops have really never happened in the market unless we have a serious, serious issue. We have never been this high. To tims point. And you know this, yes, at 27 n. O. W. In the dow 1,000 points is obviously different than at 15,000 in the dow. Obviously it creates headlines because it is a significant number for context, though, the levels where we are now in the s p and the dow jones is where we were at thanksgiving. At thanksgiving everybody was talking about how great the market was number one, im not dismissing whats going on. What i think is happening here, clear of what everybody has said, volatility has taken over. Stocks have become Collate
Rules. That is when i explain it in a goes through rep. Brooks you have no judgment a you cannot explain it to the committee . Admin mccarthy there is no specific definition i can offer you. A judgment that will be well documented by the science. Rep. Brooks how long has the epa been working on that . Admin mccarthy since we created the Clean Air Act. Rep. Brooks what year . Admin mccarthy 1990 . Rep. Brooks decades later you still do not have the definition. Admin mccarthy it is not apply to that away. Chairman smith thank you. The gentleman from virginia. Rep. Beyer thank you for being so patient and gracious this morning despite rather combative nature of the questioning. Our chair, my good friend and distinguished chair claims the epa has severely damage our economy. How do you reconcile that with 64 straight months of job growth and 12. 8 million private sector jobs and tripling of the stock market. If there is not perhaps better to look at the infrastructure bills we failed to pa
Sooner. In the letter i submitted the National Conference of mayors pointed out that the Clean Air Act required federallysupported transportation activities are consistent with state air quality Implementation Plans and the largest rail hub in the country. According to the center of Regulatory Solutions freight traffic is expected to increase by 80 by 2020. How does epa expect the financially troubled state to implement these standards when the agency has not and will not consider the full potential cost of implementation . If i could just point out, sir, that the Health Standard sets up a process where states develop plans over time and there is significant time to achieve this standard but the majority my time has expired and if you can respond in writing back to these. The vast majority of the counties will be in the amendment as a result of national standards. Thats an important thing to remember. This is not on the backs of the states. It is a partnership between the National Gove
In the meantime, this is what im looking at. The euro having a little bit lower. Spain continuing to be on edge after its Prime Minister moved of thethe authority region. The nikkei up 1. 11 . Sent thees election region to elect to a record. Thats your market check. Lets get to the bloomberg first world news. Catalan separatists are meeting today to formulate their response. Catalan president is set to be ousted, but he vowed to fight on. His allies are signaling he could be declaring independence this week. Rex tillerson is calling on european allies to support new sanctions on iran. He is warning that companies doing business with tehran are doing so at their own risk. He was in riyadh for talks trying to bolster a new alliance between saudi arabia and iraq. Saudi arabia has rebuffed his requested in the fourmonth isolation of qatar. Mays efforts to get brexit legislation through parliament has hit a low new load lock new roadblock. Political political fragility was underlined by the