I think the woman who will under the keys vigorously for them to be cool and orderly, multiple world and universally beneficial and inclusive economic globalization and visiting serbia and then hungry sheets and things as china is always open to expanding cooperation with states that put their National Interest above the russell will the racial ruble live in moscow. Youre watching archie international. The idea of has struck rafa once again, an area to where most displaced dozens have fled. But it shows heavy smoke rising above residential buildings in southern gaza. This tries come after cease fire negotiations in cairo failed once again with a mouse and israel unable to agree on core demands. Journalist criminal satari says the situation in rafa is deteriorating rapidly amid the relentless bombardment from israel. The hey target seriously populated area. They conduct concurrent strides and bows, different parts of the neighborhood, the story a good theories of houses and they bought
Their own studies show the main drivers of default are loan devalue, borrower credit score. Everything else is literally a rounding error. And so of course, the final doddfrank rules essentially abandon the things that actually drive default. And endless servicing requirements, again making it near impossible to foreclose. My opinion is the rule increased foreclosures last time around rather than decrease them. And the harder it is and the mission has nothing to do with financial stability. The mission is to use the the regulatory system to force prudent borrows to subsidize imprudent. We all knew the crisis was quite costly. It also will provide a cover for massive expansion and government powers. One minute. Im not even go i think to need that. So i would say and would say avoid financial cryises. I think a repeal is not enough. The presystem was broken. It was flawed. And to me one of the real flaws of doddfrank is it extends the precrisis system. The theme of doddfrank is, lets exp
Minerals for firms not only firms getting the actual hard commodities there, but also for firms well down the supply chain, who have no idea where the aluminum in the electronic parts came from. So i think its telling when a liberal law ultimately convinces the Washington Post Editorial Board that it was a bad idea, which they have come out against conflict minerals. Its time to revisit the motion all together of including immaterial disclosures in security laws. Both by legislative fiat and by the sccs own power. And republican and democratic chairmen have both been guilty of this. I think it should be a binding constraint on any rule making. And business round table stands for the proposition. How is a mandatory immaterial disclosure going to provide benefit to investors . None. By definition fails cost benefit analysis. We have ways to measure immateriality. Methodology that has gotten great in the last ten years. I think it should be a binding constraint, the same way for litigants
Can be accomplished [ inaudible ]. Why dont you go ahead and take it. So let me first say, i think you touch upon an important observation about too big to fail which so much relies on the discretionary decisions of government and government decision makers, whether it is the d. O. J. Or the s. E. C. There is nothing about too big to fail economists. It is by political decisions and of course when eric holder goes before congress and said that somebody is too big to jail, that reinforces that perception. And on the data point, so again i would start with data can be suggestive as best and during the crisis we saw suggestive data that the funding advantage for the largest institutions had expanded and yes that has contracted but in my opinion you would expect that to contract post crisis. I think you could compare the funding cost today versus precrisis over time. People forget before the crisis, say in 2006, the largest banks paid more to borrow than the smallest banks. It was complete
That we made. Among the most contentious issues over the past two years involved the armys restructuring initiative. I understand the army has been put in a difficult position by budget reductions and over the past several years has been exploring a number of option to maximize come pat power while at the same time trying to combat costs. Congress has similarly been taking a hard look at this which is why the commission of the structure of the army was established in the ndaa. If confirmed will you comment to thoroughly reviewing the armys Aviation Restructuring Initiative and working closely with congress once the Commission Report is delivered next year to help us figure out the best path forward on Army Structure issues . Absolutely will and i look forward to reviewing the Commission Report. And what do you think are the biggest threats that should you be confirmed youll have to prepare the army to address in the coming decade . I think the armys fundamental mission of engaging in g