H shares in now and hong kong up by. 5 . Pretty marginal gains here in the last half hour or so with it brings us near the top of the 2015 bubble. On the other of the argument hsbc is cutting china to neutral f this rally. Something to keep in mind as we take a breather here from the exuberance weve seen in chinese stocks. One more thing were watching is the hong kong dollar. Now 15. 7 billion hong kong has been injected into the system there. Solid that pair and the renminbi with a six handle for the First Time Since march. The strength of the renminbi certainly helping the equity markets as well. And gold still holding. Some breaking news from sri lanka, the federal bank cutting its lending rate to 5. 5 . Its a big cut, a 100 basis point cut bigger than expected. Economy expanding at a pace of 3. 8 in 2021. Much bigger than anticipated. Lets dig deeper into the ofkets and bring in ahead forpacific thank you joining us. Lets talk about china. Its going gangbusters in the last seven da
[background noises] clicks the committee will come to order without objection shares authorized to declare recess for the committee any time. The hearing todays entitled oversight of regulators. Without objection all members of five legislative days in which to submit extraneous materials to the chair for inclusion in the record. Just one additional comment members about the schedule. This has a hard stop at 2 00 p. M. And accommodation of the three regulars before us. We will not go past 2 00 p. M. Arachnids must sell for four minutes to give an Opening Statement we here to conduct oversight regulators there is plenty to discuss put forward a proposal that require robust debate and explanation. You are first up. We all know why you failed your employees your agency the fact have not yet resigned approves no responsibility for your actions showing up today is not an act of courage is an act of hubris. You are confronted with a report outlining appalling and abhorrent behavior at the fe
During three and half hour hearing. [background noises] clicks the committee will come to order without objection shares authorized to declare recess for the committee any time. The hearing todays entitled oversight of regulators. Without objection all members of five legislative days in which to submit extraneous materials to the chair for inclusion in the record. Just one additional comment members about the schedule. This has a hard stop at 2 00 p. M. And accommodation of the three regulars before us. We will not go past 2 00 p. M. Arachnids must sell for four minutes to give an Opening Statement we here to conduct oversight regulators there is plenty to discuss put forward a proposal that require robust debate and explanation. You are first up. We all know why you failed your employees your agency the fact have not yet resigned approves no responsibility for your actions showing up today is not an act of courage is an act of hubris. You are confronted with a report outlining appall
Vice chair for supervision at the federal reserve. Live coverage here on cspan. Mr. Luetkemeyer ive been here a long time. This is my 14th year in this committee. Which is a long time. Also know that you lied to me. You lied to the chairman, you lied to this committee. On operation choke point. And it took an email where we found you involved before we confronted you and you admitted it in my office that you were involved in this and it stopped. Since then, since your new term, youve been involved in it again. You were here with your three representatives and also admitted wrongdoing there. Also theres weak management from the standpoint of regulation. Thats what your job really is. As evidenced by the three banks that failed last year. As a bank examiner, there is no way in the world i would have allowed a bank model of those three banks to exist. 80 to 95 uninsured deposits. Are you kidding me . No way. You knew about it for a year. Did nothing. And in doing that you endangered not o
They have never had to do before. My wife is not happy with this, but i keep telling her it is Getting Better and better. Before you know it, turning on the lights of these easy as flipping a switch. [laughter] Household Items are probably the least important part. Enterprise in industrial uses have the potential to radically allocate resources more efficiently. There are two principal challenges we are all talking about. The first is the network. What kind of infrastructure do we need to facilitate a robust iot . Second, had a we secure the network . It is one thing for terrorists to know i need more ice cream. It is another when you talk about yourself driving car or the electrical grid. We have a great panel today and we will go to discussion. The Global Innovation and R D Consortium of the cable industry. He guided u. S. Wireless broadband policy is chief data officer. He shakes to mitigation policy at the White House Office of management and budget. Ashley dermer, Senior Vice Pres