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
A synagogue the suspects attempt failed but he is accused of killing 2 people after the attack well find out what life for jewish People Living around the town of holland is like facing frequent anti semitic provocations. Im sorry kelly welcome to the Program European leaders have sealed a deal on an unprecedented 750000000000 Euro Coronavirus Recovery Fund after 4 days of heated talks leaders finally agreed on the details of loans and grants to be given to countries hardest hit by the pandemic for the 1st time ever the aid will be financed by borrowing of the 750000000000 euros 390000000000 will be given in the form of grants that is money that the response. Sybian states will not have to pay back the remaining 360000000000 euros will be distributed in the form of cheap loans now a compromise satisfying the demands of fiscally conservative countries is what they reached good morning everyone and we did it europe is strong europe is uniteds level for these were the words the delegates
Commission has decided to order ourselves alphabetically. With that welcome to this virtual hearing convened by the 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 part of our oversight work, the commission has decided to hold this hearing today which will exam examine the main Street Lending facilities. The Federal Reserve established the main Street Programs to support small and immediate you yumsized business answer Nonprofit Organization that is were in found sentence condition before the onset of the covid19 pandemic. The program operates through five facilities which we will learn more about this morning. The programs being administered by the Federal Reserve bank of boston todays hearing will have two panels. President eric rosengry. N, Federal Reserve bank of boston will testify during the first panel. Second panel will i
One of the first people i met into our planning and congressman style not only did you take speaker ryans place but a former paul ryans staffer i think there is a closer fiscalke hawk then probably doctor tom to inspire the effort in your former boss and predecessor. So we are curious to hear your unique perspective as millennial legislators indicating Small Business person South Carolina and similar business background. We would really like to evolve into a discussion molly have you online because you have so much in common with the members of this commission. Thank you for havingh us. This is an issue dear to my heart literally the number one issue i ran on. We have been out of control for decades when i first came to congress that was one of the most pressing issues and in the first year we spent one. 4 trillion more than we brought in revenue at 25 trillion in debt nine on the Financial Services committee but i was talking about this left and right but in 2025 we would spend more m
Time. We are getting out of here right on the nose at 11 40. Thank you for your leadership. Thank you for doing this and having me. Ill say this from the getgo. To both congressman. Thank you. Congressman timmins, congressman style, not only did you take speaker ryans plays but you are a former staffer. I dont think theres a more incredible fiscal hawk in the history of politics then probably, doctor tom who inspired this effort in your former boss and predecessor. We are just curious to hear your unique perspective. Not just as millennials but as millennial legislators, Congress Must timmins in your case, Small Business person similar business background. We will start with you congressman timmins. Give us opening remarks. We would like this to evolve into a discussion. While we have you all online. Youve all got so much in common with the members of this mission. This has been an issue near to my heart. The number one issue that iran on. We have been out of control for decades. I fir