The committee will come to order without objection. The chair is authorized to declare a recession of the committee at any time. The hearing is the annual report of the bureau of consumer for natural protection. I now recognize myself for three minutes to give an Opening Statement. Not that we need a reminder, but if theres one thing that the president ial campaigns of both parties have shown us, that the American People are indeed angry. They have a right to be angry. After seven years of obamanomics, they are suffering through a failed economic recovery. Americans are even angrier though at having their lives increasingly ruled by out of touch washington elites. Every day they see their liberties slipping away as washington grows more larger, more distant and more arrogant. As Thomas Jefferson warned, they are sending swarms of officers to harass our people. The poster child of jefferson is the cfpb. Its director, our witness is, neither elected nor accountable to the American People
Consumers. Our Enforcement Actions have based on careful and thorough investigations and most have identified deceptive practices by the parties involved. During this reporting period, the orders entered in our Enforcement Actions led to approximately 5. 8 billion in total relief for consumers victimized by violations of the law. These consumers are located in every one of your districts nationwide. Were also working to provide tools and information to develop practical skills and help people understand the choices theyll be making to manage the ways and means of their lives. Our ask cfpb resource provides guidance to inquiries across the entire spectrum of consumer finance. Our major moment in time decisional tools include paying for college, owning a home and planning for retirement. We developed the new partnership with the Financial Services round table to Work Together on Financial Education in the schools, in the work plates and on behalf of older american which is proving to be
Reporting that those conversations, finally ended last week after they decided against the teal. Activist did its own deal last year. Recently, it acquired forest labs in a 20 billion deal. As for pfizer, the u. S. Pharma company had a 1 billion takingover bid for its rival astrazeneca this year. The biggest Bank Offering since the financial crisis, citizens financials ipo pricing blow its expected range last night. Raised about 3 billion. Shares are expected to start trading today at the symbol tsc. China planning to launch its latest galaxy note. Apples iphone 6 hasnt officially arrived in china yet. Eunice yoon told us just yesterday, the black market for the device over there is hot, hot, hot. Activist. Interesting. Founded not that long ago. So that would accomplish the same thing for ian reed . Yes. Its another way to do it. Hes been outspoken on how its like a 1 billion difference. He says we arent doing plants, were not doing research. Were a lot of and that the difference betw
In the equity markets the consequences of foreignexchange with the losses they have. When you get wiped out within the Retail Businesses or face challenges in terms of the margin call, what will that do to the rest of the assets that you hold to meet the margin calls . Will you have to sell equities, will you have to do vest yourself of assets to meet the margin requirements in the margin calls . Equities at a cracking week overall, up almost 3 overall. All of the frenzy if the swiss abandon the cap because they dont see any value in defending themselves anymore, what does that mean for the European Central bank in terms of quantitative easing . We have had the best week so far since december 2013. The yen is rising, swiss franc puts we are waiting for the market to open. The swiss market 4300 put options, a rise of 15,000 . People saw that rise 15,000 . Even i love that figure. Maybe the horse has bolted, as they say. Smi down 2. 5 . The biggest losers today, the exporters, the ceo of
Set to open in the green as the u. S. Economy grows at its fastest rate in over a decade. Is dow 18,000 on the way . And walgreens shares higher in the premarket. And new details on the massive recall that is scalding shares of Keurig Green Mountain this morning, literally. But first up, mountains aiming for uncharted territory one day after the dow and s p hit some recordclosing highs, the blue chips are within 41 points of 18,000. A full point would take the s p to a new allday intraday high. Futures extending their gains on data showing the that Third Quarter gdp up 5 . And then theres Hedge Fund Manager david tepper, expressing some optimism about the stock market, writing to stock saying, quote, this year rhymes with 1998, russia goes bad. Easing coming from europe. Sets up 1999 i mean 2015. Although you can read that two different ways. Right, 1999 was parabolic for the nasdaq comp, fantastic for the s p. Obviously, 1999 is followed by 2000. He very specifically didnt mention 200