[inaudible conversations] [inaudible conversations] the committee will come to order. This morning we will receive testimony from sec chairman and cftc chairman carlo with the Virtual Currency and the oversight connected by their two agencies. Welcome. Virtual currencies are meant to act as a money to be traded with the online exchanges such as dollars used to purchase goods or services predominately online. Additionally developers and individuals are selling one selling virtual coins also known as the ico to raise capital over the last year Many Americans have become increasingly interested in Virtual Currency given the rays of valuation with bitcoin it broke the 1000dollar barrier and then peaked december 2017 and almost 20000 as of this morning trading at roughly 6900. Today the market capitalization is roughly 115 billion. This is an incredible rise given in 2013 when this committee had subCommittee Hearings the total value in circulation was approximately 5 billion. As Virtual Cur
More hikes. A big day for stocks but not if you are a bull. The selloff started friday and im even sharper on this monday. Even as stocks suffer their biggest losses since 2008 the bond market started acting more like the usual correlation. Stock started plunging we got a nice rally in the u. S. Treasury market and we ended up benchmark 10 year. Yesterday morning we saw that 10 year testing at 2. 8 . It has been a big year in on movement. We have seen a little of that sign, butd be a good there was about 15 minutes of frantic selling on the dow, that flash crash. It is raising some eyebrows. This runup that we saw in january, this could be some type of a healthy signal. There are a lot of questions on how much pain we would have to endorse here. Guestsf questions to our this morning. Kathleen and a perfect time to be asking them. The biggestre on stock plunging in 6. 5 years. Erasing alls p 500 gains for the year. The vix volatility index wow. And i biggest spike ever spoke to an exper
2015, cities across california will go beyond the retirement and requires government employers to pay more than half the time of benefits and it would prohibit government officials from challenging any voter approved state or local ballot measures regarding compensation and retirement benefits. In other words it will create what you might consider a closed benefit system if it isnt approved if after the reinitiative passes and any other vote for defined benefits is not passed by the voters. So on behalf of aciu 101 with pete albert, cochair of the Alameda County committee as well as other members of sf sfers are considering the process for passage next year and it will be bad for all stakeholders in the system, active employees, retired employers and in time to meet the pay will become important in all time and investment has to be change. Its likely the actuarial to the Interest Rate must be lower to drive compensation rates. We want to provide an analysis of the impact of the closed
House will be in order. The chair lays before the house a communication from the speaker. The clerk the speakers rooms, washington, d. C. July 14, 2015. I hereby appoint the honorable Carlos Curbelo to act as speaker pro tempore on this day. Signed john a. Boehner, speaker of the house of representatives. The speaker pro tempore pursuant to the order of the house of january 6 2015, the chair will now recognize members from lists submitted by the majority and minority leaders for morning hour debate. The chair will alternate recognition between the parties with each party limited to one hour and each member other than the majority and minority leaders and minority whip limited to five minutes. But in no event shall debate continue beyond 11 50 a. M. The chair recognizes the gentleman from illinois, mr. Roskam for five minutes. Mr. Roskam 00 thank you mr. Roskam thank you, mr. Speaker. Ladies and gentlemen of the house, we ought not bet against ukraine and we ought not bet against georgi
Increased its payroll by 2,000 jobs. However, this firm has been inadvertently caught up in unnecessary s. E. C. Registration because with sbic assets undermanagement being counted, it exceeds the 150 million exemption threshold we established in doddfrank. Without undermining the key Systemic Risk and Investor Protection requirements, we established under doddfrank, h. R. 432 provides escalot Capital Partners and similarly situated sbics with targeted relief. So i applaud the bipartisan coauthors and urge members to support this bill. I will reserve the balance of my time. The speaker pro tempore the gentlewoman from california reserves the balance of her time. For what purpose does the gentleman from missouri seek recognition . Mr. Luetkemeyer mr. Speaker, i yield as much time as he may consume to the gentleman from new jersey, mr. Garrett, the member of the Financial Services committee and distinguished chairman of the subcommittee on Capital Markets. The speaker pro tempore the gen