European law consumers get to know what the factors were that made that determination. I think we need to move to that approach. The make companies more accountable than decisions about American Consumers fairer and more transparent. You do have requirements that when you take adverse action based on Consumer Report you notify the consumer. And were Credit Scores used you have to have key factors that affected the score. One more question and i apologize. If the bill were kept liabilities in the past how much would hundred 45 million americans, how much would those victims of equifax problem been entitled to . First, heres to me there are be a cause of action and right now based on news reports thered be no cause of action under the fair credit reporting act because it was an credit report. Were there to be a breach of a Consumer Reporting database, i believe the figure was a million. The cap was either 500,000 are million. Was consistent with the other Consumer Protection statutes. It
Senator murray and i will be to have an opening statement, and then we will introduce the witnesses. After witness testimony, senators will each have five minutes of questions. Theres a vote scheduled for 10 30. I think what we will do is continue right on through of about 10 45, and then we will alternate going back and forth to vote. I think we will have time to all of us here witness testimony before we have to leave for the vote. We are holding a hearing, which is the second in a series on Prescription Drug costs in response to a bipartisan request, led by senators cassidy, senator franken, along with senators collins, baldwin, murkowski, war and as well as other senators interested in the subject. Not only was the request for these hearings bipartisan, but both this hearing and the first hearing on drug prices were a partisan, which means senator murray and i agreed on the witnesses. Despite this, our first hearing in june when so far off track that i delayed this hearing because
There is a lot of uncertainty. Uncertainty is the enemy. Shery does big pharma have a prescription for brexit side effects . It is all straight ahead on bloomberg best. Shery hello, and welcome. I am shery ahn. This is bloomberg best, your weekly review of the most important business reviews, analysis, and interviews from Bloomberg Television around the world. This week has been all about digesting last thursdays u. K. Vote to leave the European Union. On monday, the market moved in uncertainty, and nowhere else were things more uncertain than in britain, with the leadership was thrown into chaos. Nejra it is interesting what the next step will be, because logically the next step would be for the u. K. To trigger article 50 and actually start those negotiations on leaving the eu. Actually, other governments in europe are not expecting David Cameron to do that when he needs other eu leaders on a meeting on tuesday. What they will want is some kind of plan for what happens next. John the
We are finally in the green so how are we holding up . Julie we are not making up the losses we experienced in europe or the u. S. Over the last couple of days and stocks are coming off their highs to some extent but its a healthy rebound today. The nasdaq is leading the gains. We saw strong selling volume over the last couple of days and volume is still elevated in todays session but not as much as its been. This is volume by group. Trading by them is about 25 above the average. There is a big gain and buy them of the financials are you also the industrials. We have been watching bond yields. We have been seeing the reversal there as we saw a big drop in yields yesterday. Mostly they are coming back up today with the exception of the japanese 10 year yield. Selling within the u. S. And u. K. Market is not the same magnitude. We had a big sea change in the fed funds futures and the expectations for a rate rise this year. The expectation for a rise coming up in december and you see the
The most of the session, there is a tugofwar going on. As david mentioned, Energy Stocks are performing poorly. You can see that they are up off the lows but still down along with materials. There is a commodities selloff pushing them down. On the other sides health care, up by 1. 1 percent. I wanted to dig into the rally that we are seeing. If you look at large cap pharma companies, allegan reports earnings tomorrow. Johnson johnson on the right. These of the biggest contributors in terms of the games we are seeing in the s p 500. Terms of whats driving driving them there, kevin, the big maker of Generic Pharmaceuticals be estimates and says that its generics pricing is actually not dragging down earnings that much, as are has been widespread concern about pricing of generic drugs and whether it would continue to decline. They said they didnt think they would see that much more downside. That is having a Ripple Effect. They also say they are going to complete their proposed acquisitio