Root of this problem, and i hope you succeed. The secret service has an immensely incredible job, very important job as you know. One of the most important jobs we have out here with our forces. Good luck to you. Were here for you as well but we do demand some accountability. Thank you. Thank you. Mr. Young our boys are atwill employees. Their boys are not atwill employees. Thats one of the differences. Thank you, mr. Chairman. I knew you would find that answer. Mr. Fleischmann. Thank you, mr. Chairman. Mr. Director, thank you for your distinguished career in the secret service and for stepping up and taking over this agency at such a difficult time. When i was a young boy i always looked up the secret service, wow. I always think of the Important Mission that you all have. And i share the sentiments with my colleagues on both sides of the aisle. We want you to succeed. This is something that is important for our country, and its a difficult time. Weve heard about the different problem
Now heads ways and means. Again, the committee here taking a break. We expect until 5 00 eastern. Well continue our live coverage then. And also online at cspan. Org. We will be back to the Budget Committee when they gavel back in which should be at about 5 00 eastern. Our coverage continues online at 2 00. A reminder of the senate Budget Committee thats under way. Thats also on cspan. Org. But also happening today, the Federal Reserves federal open Market Committee wrapped up today. And the chairman of the fed, janet yellen, as she does after these meetings, held a press conference with reporters. Chairman yellen good afternoon. As you know, the federal open Market Committee this afternoon reaffirmed the current zero to 25 target range for the federal funds. 25 target range for the federal funds rate. The target range for the federal funds rate remains unlikely at our next meeting in april. With continued improvement in Economic Conditions, however, we do not want to rule out the poss
That work with this company and internationally the relevance of the Exportimport Bank in place an important role. All of our competitors have export financing support. The idea that the United States would unilaterally disarm and a world where other competitors would have export financing programs would put u. S. Manufacturers at a great is advantage. I think theres a notion that it is only large firms that benefit that is wrong. A Small Business and baltimore can access these banks. On this committee, you can find countless examples of Small Businesses that benefit from the Exportimport Bank. I hope we can Work Together to renew the Exportimport Bank before it expires in june. If there were an International Agreement to lower all export subsidies, that would be a different story. We are working with International Bodies of the Congress Helped create we are not there yet. Unilateral disarmament would be wrong. [captions Copyright National cable satellite corp. 2015] [captioning perfor
Chicken and egg problem here. Their decision on what they are prepared to do may depend on their understanding of how much support they have. Dr. Brezinski, you suggested that mres are not quite enough. We can provide nonlethal equipment him a lethal equipment, and air cover. There is the escalation. What should we do . In any case, we should have Contingency Planning for all of that post up but we should couple that with a serious communication to the russians in which we would like an alternative outcome in which we would like to be partners. But we need to let ukraine know that if they resist, they will not be alone. We do not need to let the russians know exactly what we are going to do. But the death of the pudding is also in the ukrainians. They need to demonstrate that they value their territorial integrity and are prepared to make sacrifices to protect it. I think the russians, the way they have operated in crimea, what as i said before, where they are operating on a contingent
They bailed out credits and aig, mostly foreign banks. Had a lot of programs to provide funds to banks. You had a trouble asset relief program. The Federal Reserve was involved in doing that in the sense that bernanke was setting at the table when they were twisting banks arms to take funds. Quantitative easing, thats part of the response to the financial crisis. What i want to do is start off with the beginning in a way so we remember how this happened. Lets leave aside the low Interest Rate stuff, maybe thats correct, maybe its not correct. Thats counter factual. We can be sure of one thing. That the financial crises revolved around housing. It actually also revolved around securities. Specific securities actually. What are called collateralized debt. This figure is prices of the security from the beginning of 2006 through 2012. What it shows is, these are rated theres four graphs. Thats just to provide some idea that a variety. I dont want to go into details of the graph. But the fa