Discussion on slave refugee camps during the war. Watch American History tv tonight at 8 00 p. M. Eastern on cspan 3. This past june, facebook announced plans for its own crypto currency called libra. The cocreator of Libra David Marcus answered lawmakers concerned over the Digital Currency before the Senate Banking committee. This is about 2 1 2 hours. This hearing will come to order. Today we will receive testimony from david marcus, head of libra at facebook. On may 9, senator brown and i sent a letter to facebook shortly after it was reported that the company was recruiting Financial Institutions and online merchants to help launch a cryptocurrency based Payment System using its social network. Our letter asked facebook for more information about how the system would work. Its access to and use of Consumer Financial information, and facebooks access to and use of information on individuals or groups of individuals in credit, insure, employment or housing. I appreciate facebooks res
The chips are off the table. Symantec and broadcom have halted deal talks. Where does that leave them now . First, to our top story. Big tex the big issue on capitol hill this week. Tech the big issue on capitol hill this week. Tuesday and wednesday, they will hear from facebook on libra. Before the testimony steven , mnuchin taking aim at the social network. The Treasury Department has expressed serious concerns that libra could be misused by money launderers and terrorist financiers. Emily also tuesday, representatives of facebook, google, apple and amazon will defend their companies in front of the house judiciary in a hearing on antitrust. Their goal is to convince lawmakers they do not stifle competition. To discuss, our guest in washington from a nonprofit focused on shaping Public Policy for an open internet. Before that she was at the Anticompetitive Practices Division of the federal trade commission. And we have ben brody. Who covers Technology Influence in the capital. So man
Banks mixed. Carmax, the worst performer. 2. 13 , crude up to oil below 65 a barrel. Trucking index, s p, best performer today, more than 8 up. That is relieving investors. European markets now. A better day in europe. The dax up a quarter of 1 , cac upup 6 10 of 1 , ftse 100 for tenths of 1 4 10 of 1 . Questions about barbary moving over. First quarter doing well in china. That stock is up 13 . Thank earnings season, j. P. Banks, wells fargo, reported earnings this morning. Lets bring in our Investment Banking reporter. It seems pressure on margins not affecting banks much. Reporter it is affecting them in that wells fargo revised projections downward and the lowest net income in three years. Theres will come down contingent on how many rate hikes there are. Jamie dimon is saying it is like wind blowing. Investors are following the news well. Vonnie what are we seeing in terms of indications for u. S. Consumer . Reporter so far so good. Jp morgans long growth swelling, close to 7 last
Interested forecasts ibm is betting on 5g growth and the cloud, it has a tieup with at t that is talking exclusively with jim about he got both. And president ial pressure trump saying his administration will take a look at accusations from tech investor peter thiel that google coordinated with the Chinese Government so some mixed reaction out on bank earnings. Jpmorgan chase, Goldman Sachs, wells fargo. Guys, obvious lly the reason th stock is down they lowered their nim forecast by 500 million. Sometimes you look at a quarter and you say, please, please, give me a highlight. Look, the efficiency ratio was good but when i look at what the other banks have done, i understand that jpmorgan is good, just not shoot the lights out. I dont think when i look line by line, look, you got some good numbers here you have the Consumer Community banking this line about the just the consumer itself, these guys are coining money theyre not coining money as i would like it because of Net Interest Mar
Free cspan radio app. Earlier today facebooks david marcus testified before the Senate Banking committee to address concerns over the companys proposed Digital Currency. This is 2 hours and 20 minutes. This hearing will come to order. Today we will receive testimony from david marcus, head of libra at facebook. On may 9, senator brown and i sent a letter to facebook shortly after it was reported that the company was recruiting Financial Institutions and online merchants to help launch a cryptocurrency based Payment System using its social network. Our letter asked facebook for more information about how the system would work. Its access to and use of Consumer Financial information, and facebooks access to and use of information on individuals or groups of individuals in credit, insure, employment or housing. I appreciate facebooks response last week. Shortly after the letter was sent, facebook formally announce ds its intention to launch the Payment System libra and issued a white pape