Hell come up for his remarks. Feds been a governor at the since may of 2012. Some of what jay does as a very visible to the public, serving on the federal and givingittee regular talks on the economy, Monetary Policy and Financial Stability. But as i know from my own days fed, a lot of what jay and other governors do is behind the scenes and is not very public, including all the administrative work of the Federal Reserve board and overseeing the Federal Reserve system, which is a big board is fullyhe staffed. But, of course, there are currently three vacant seats on board and jay tells me hes chairing four of the seven administrative committees, that hes looking forward to a regulator sometime soon in the form of new governors to fill the vacancies. Before joining the fed, jay had a distinguished career in the banking and private equity world. Theuding as a partner at Carlisle Group from 1997 to 2005. Jays interest in housing goes back a long way. At least as far back as his treasuryn
He has a near perfect record. At 7 30 eastern time, Marathon Asset Management Bruce Richards is betting big on europe. Coming up at 8 00 eastern time, well get political with former obama chief of staff bill daley. Hes now working for a swiss hedge fund. A lot of them will be talking to what weve been talking about this morning. First, lets get you up to speed on todays headlines. Are you ready for this . Im gary owens. Ive got one of these things on. Its like youre madonna, only i need yes. That wont look at good on me. You already hear some of the buzz . I realize again why we have these on. Theres a huge thing going on behind us. Not yet because its early. But today, tech is the dominant. That was the dominant theme of this mornings stocks to watch. Lets start with apple and ibm. The two teaming up on a Partnership Starting this fall. Ibm will sell iphones and ipads loaded with applications geared at business users. Shares of both companies did rise after hours. I took a look last n
Preferred stock Purchase Agreements were entered into with treasury, that suspended the capital of fannie and freddie. If we were building up capital i understand exactly what youre saying. But those two criteriaen dont apply anymore because they are in conservatorship. Every dime is going to the taxpayers if theres a profit. Theres statutory language here that requires an end to the allocation. I think its very straightforward. But ill close with this. Today, i along with many of my republican colleagues will reintroduce the payback the taxpayers act. And this bill will ensure that money coming in from the gses will go to the taxpayers, in other words, will go to address this issue instead of being diverted to the Housing Trust fund. But thank you, director. Good to see you again. Time of the gentleman has expired. Chair now recognizes the gentleman from missouri, mr. Cleaver. Thank you, mr. Chairman. And Ranking Member, thank you for being here, mr. Watt. Theres been a lot of discuss
The standoff, as well. China is worried about getting paid back on its investments. The yields on onemonth treasury yields continue to head higher this week. Its just another sign that investors are getting increasingly worry worried about the government defaulting on its locations i would argue theyre not worried enough, but we can talk about that in a mip. China and japan arent the only ones calling for a solution out of washington. Howard schultz is urging leaders to push for a shutdown. He says the following, utterly disappointed by the level of ir responsibility and dysfunction we are witness to with our elected Political Leadership. It is our responsibility to address this crisis of competent that is needlessly being set in motion. During the last debt ceiling debate, youll remember schultz made headlines by calling for americans to stop making political contributions until lawmakers struck a bipartisan deal on the countrys debt revenue and spending. Dallas fed president Richard
He feels really deeply, which is why its translated into me different ways in the administration which im proud of. And it is sort of had we pulled out altogether. I welcome any ideas, too. Feel free to send them in. Im afraid that will have to be the final word because were out of time. That would truly terrific. We learned a lot about what youre doing and because some good advice which everybody takes to heart, i think that i want to thank you very much for spending your time with us this afternoon. Thank you. Thats great. [applause] and i also want to thank all of you for coming, and to let you know well be singing you a link to the video if you want to relive the wonderful afternoon. Also, that are complementary copies of the atlantic. I want to echo what elizabeth said. The article on how old you can be to have a child is really, really interesting. But theres a lot of other interesting pieces in the magazine, so take a look. Thank you very much. Thank you [inaudible conversations