Stability. I want to inform all concerned that this meeting will end at 1 00 per the request of the p. M. Secretary. I now recognize myself for four minutes to give an Opening Statement. So let me welcome back secretary mnuchen. Today, we are here to discuss the Trump Administrations actions that have undermined and not promoted our nations Financial Stability. As i have said many times before, i am very concerned about this administrations actions to eliminate important protections for consumers, investors and our economy. It appears that our banking regulators are following the deregulatory blueprint that the Treasury Department, under secretary mnuchens leadership, has mapped out point by point and rolling back many of the Critical Reforms democrats made to prevent another financial crisis. If these rollbacks continue, there will be grave consequences for Financial Stability in our economy. The 2008 financial crisis was devastating for our nation. 11 million americans lost their hom
Mnuchin testifies about the u. S. Economy. He also talks about Digital Currency and the potential impact of Climate Change. Waters the committee will come to order. Without objection, the chairs authorized to declare a recess of the committee at any time. This hearing is entitled promoting stability, reviewing the administrations deregulatory approach to Financial Stability. I want to inform all concerned that this meeting will end at 1 00 per the request of the p. M. Secretary. I now recognize myself for four minutes to give an Opening Statement. So let me welcome back secretary mnuchin. Today, we are here to discuss the Trump Administrations actions that have undermined and not promoted our nations Financial Stability. As i have said many times before, i am very concerned about this administrations actions to eliminate important protections for consumers, investors and our economy. It appears that our banking regulators are following the deregulatory blueprint that the Treasury Depar
C the committee will come to order. Without objection, the chairs authorized to declare a recess of the committee at any time. This hearing is entitled promoting stability, reviewing the administrations deregulatory approach to Financial Stability. I want to inform all concerned that this meeting will end at 1 00 p. M. Per the request of the secretary. I now recognize myself for four minutes to give an Opening Statement. So let me welcome back secretary mnuchen. Today we are here to discuss the Trump Administrations actions that have undermined and not promoted our nations Financial Stability. As i have said many times before, i am very concerned about this administrations actions to eliminate important protections for consumers, investors and our economy. It appears that our banking regulators are following the deregulatory blueprint that the Treasury Department, under secretary mnuchens leadership, has mapped out point by point and rolling back many of the Critical Reforms democrats
This is nothing this is something we should work on, and the work on this predated me coming to treasury and this has been a long time, and as i mentioned earlier, we may come back to congress and suggest that you pass legislation. I would ask you, this is not on your 2021 calendar. This should be on your december calendar. I agree. I look forward to working with you. I need to know whether you need legislation. I need to know what you need and we need to make sure that are 2 billion of outstanding debt where people kbts determine what interest is supposed to be paid, and i want to move on because i do chair the asia subcommittee for another week, and we focused on china. China could end up with 1. 5 billion of world bank loans. This is under discussion now. Chinas income has exceeded the level where they should be eligible for these loans and the Chinese Government has enough money to put a million uighurs behind bars and to build a military complex that destabilizes the world so it s
Our parliament to get that done. Reporter European Council tusk talks it up but they leave the door open forex tension. Renault sends stocks plunging warning of tough Market Conditions chinas Fourth Quarter gdp grows at a slower pace and war weighing on the second largest economy. Our top story, we have a brexit deal. Boris johnson has returned from brussels to fight another battle he needs to convince parliament to Reach Agreement johnson has urged lawmakers to vote in favor of the deal in a special sitting on saturday to avoid another delay. Lets take a look at how the market is reacting the ftse 100 as a whole is down around the flat line rbs around the top some of the names with domestic exposure are doing quite well. We are seeing a reversal of that lets switch and talk more starting with the banks. Rbs starting up. Barclay is up 2. 1 international exposed banks slightly negative. There you have it, domestic exposed banks outperforming today. There you go with the brexit demand fo