Its going to predict how it would react under a stress event. And so was the key one of the key issues is what how are investors anticipating this . Is this part of their Investment Strategy . And do prices reflect it, and do practice Risk Management practices reflect that . I think that there are two issues we have to separate as we address the questions you offered. Is there a liquidity crisis . The first is are we in the midst of a transition from one type of market to over. If over night, we say that ever bond dealer who works in a bank can no longer deal bonds, the next day it will be a little harder to buy bounds. No question about it, and sell them as well. But what will happen afterwards, the banks will sell their operations to hedge funds to other companies, to the employees themselves and theyll get reorganized to find the capital and make money, because there are opportunities to make money when people demand liquidity, by the way, theres no such thing anywhere of free liqui
Wouldnt a level Playing Field as you said from your testimony, we have concerns about things like there is a some Data Retention obligations and we think you could do it differently. There is a best interest contract framework and weve heard feedback from folks saying it is clunky and there is a more streamlined way to do it. We have a point of sale disclosure requirement and people have said that that is not necessary. And so what weve done in every circumstance when someone said that the best interest contract is clunky, our response is tell us how to do it better. How do we retain that north star of enforceable best interest contract and still get it done and that is the feedback weve been getting and it has been helpful. And youve incorporated it. We havent made final decisions yesterday. We wont put out a rule until weve gotten all of the comments. Im confident if history is a guide the final rule will be materially different than and better than the proposal because you have to b
Another day or so. Im one of the coowners of politics and prose. We both welcome all of you and also on behalf of our great staff. A few housekeeping announcements before we get going. Most of you have been here so you know the drill, but if anybody doesnt, michael will speak about his book the first half of the program that he will be happy to take questions. We only have one microphone and its right here so hopefully you can make it appear and this is being recorded so it is helpful to become helpful to if you want to ask him something. If you have a cell phone or other noisemaking device. We have plenty of copies of the book and its a pretty cool looking book. Plenty of copies up front so you can go get one and have him sign it appeared at the table. And if you wouldnt mind also folding up your chairs at the end and putting them to th to de that wilthe sidethat will expedg and in easier exit and it will also make the staff very happy. We appreciate that. I just want to make two anno
Few housekeeping announcements before we get going. Most of you have been to events here, see you know the drill. If anybody doesnt, michael will speak about his book for about the first half of the program and then he will be happy to take questions. We only have microphone up tonight. Its right here. Hopefully you. Hopefully you can make it to microphone. This is being recorded. So its helpful to hear the question so we ask that you try to make it right appear if you do want to ask him something. If you have a cell phone or other noisemaking advice it but you could turn off, now would be a good time to do that. At the end of the event we have plenty copies of the book, its a cool looking book. Plenty of copies upfront so you can go get one and have michael signed it appeared the stable. If. If you would not mind just folding up the chairs and putting them to the site. That will expedite the signing and expedite an easier exit and make our staff happy. We appreciate that. I want to ma
Location where they need help. The city is asking that you do where close closed toe shoes and bring a shovel if you can. The city is now asking that all cars parked downtown be removed by 7 00 tomorrow morning. The city needs to get flood Protection Equipment into the area. River levels are still a threat to the cedar rapids area. Reporter its not around parts of our Northern County and all the water is rushing downstream. Many rivers and streams in eastern iowa are at or about latestage. We will stay there for several more days. I wanted to show you some of the crest on the cedar river because this is one of the reversed that will take a hard hit it does involve a lot of metro areas. In cedar falls we will have a crest of 100 and 1b. That is a little over i thought short of the alltime record going from 26. 4 feet. Finally downstream, as we get towards ben 10 the crest are expected on sunday and they should be close to 23. 1 feet. Eventually the water will russian to cedar rapids and