Small and mediumsized businesses that were in sound Financial Condition before the virus impact of the economy we will hear from the head of the fed in boston and banking and business leaders. Will come tog order. This is a hybrid hearing meaning some of our commissioners are appearing in person and witnesses will testify remotely. Let me offer a few Video Conferencing reminders. Before you start speaking there will be a slight delay before you are displayed on the screen. Click the mute button until your turn to speak or to ask a question. If there is a technology issue, well move to the next speaker until it is resolved. You should all have one box on your screens labeled clock to show you how much time is remaining. Congressional Oversight Commission pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As a part of our oversight work, the commission has decided to hold
Almost two and a half hours. [inaudible conversations] is a todays committee will come to order and i want to thank everyone for joining us here today and want to welcome the secretary and the administrator and thank you both for being here and all the members for being here. This is the first opportunity to hear from both of you about the enactment of the act in particular as it applies to Small Business. It is a landmark legislation and less than two Weeks Congress passed the largest Economic Relief package. They worked tirelessly to make it possible every single one participated on the leadership of the Ranking Member, senator cardin, senator shaheen and senator Collin Collins isnt a r of the committee that was part of the task force and it was invaluable in helping craft a lot of this and i want the record to reflect dot. We have invited senator collins does it and participate and rightfully so because of the extraordinary contribution. As every member thats been involved, the admi
[inaudible conversations] is a todays committee will come to order and i want to thank everyone for joining us here today and want to welcome the secretary and the administrator and thank you both for being here and all the members for being here. This is the first opportunity to hear from both of you about the enactment of the act in particular as it applies to Small Business. It is a landmark legislation and less than two Weeks Congress passed the largest Economic Relief package. They worked tirelessly to make it possible every single one participated on the leadership of the Ranking Member, senator cardin, senator shaheen and senator Collin Collins isnt a r of the committee that was part of the task force and it was invaluable in helping craft a lot of this and i want the record to reflect dot. We have invited senator collins does it and participate and rightfully so because of the extraordinary contribution. As every member thats been involved, the administrator has an incredible a
Asked about the effectiveness of the Paycheck Protection Program referred to as ppp. [indistinct chatter] a todays committee will come to order and i want to thank everyone for joining us here today and want to welcome the secretary and the administrator and thank you both for being here and all the members for being here. This is the first opportunity to hear from both of you about the enactment of the act in particular as it applies to Small Business. It is a landmark legislation and less than two Weeks Congress passed the largest Economic Relief package. They worked tirelessly to make it possible every single one participated on the leadership of the Ranking Member, senator cardin, senator shaheen and senator Collin Collins isnt a r of the committee that was part of the task force and it was invaluable in helping craft a lot of this and i want the record to reflect dot. We have invited senator collins does it and participate and rightfully so because of the extraordinary contributio
Hour with our Investment Committee today. They are our committee let oos get a check lets get a check on the market. Stocks are marching higher we are right near session highs. Lets take a look at what exactly is driving things and for that, well start with josh brown because youre in the box right next to me right now what can you make of what this jobs report told us and why does the market continue to rally given the fact the economic prospects may be so dim . Im pretty comfortable saying this is the worst monthly jobs report any of you watching will ever see for as long as you live this is it this is the ugliest youll see we have lost 20 million jobs the all time record was two million jobs after world war ii and the worst we saw during the great financial recession a generation ago was 800,000 in a month. Youre not going to see this again. I think whats important to point out and i want to be delicate in the way i say this wall street is coming around to the fact that for the most