Phones on silent. Everybody have their phones on silent . All right. Let me welcome all of you and thank you for being here this morning. This has been a group thats been in labor of intense effort. I know every one of us want to thank our staffs because theyve done yeomans work. And as you can see we have with us a Bipartisan Group of people working diligently for the last 30 days or more, trying to get to a conclusion and a template if you will, this is covid emergency release framework is what it is. Take your mask off. Cant hear me . Okay. Back off. Let me just say that this is intense amount of work that the staffs have been doing for quite some time and every senator, every Congress Person here has put in an enormous amount of time on this in person and on the phone. This is a covid emergency relief framework. We worked in the best interest of what we believe is great for our country, good for our states and we can all go home knowing we have worked to make sure that the unemploy
Down days for the markets. Right now s p down by about 11, dow by 96, nasdaq off by about 47 we were so close to you dow 30,000 earlier in the week, but that seems to be slipping away a little bit 29,400 and change is where the dow is right now and again, down two days in a row, down again this morning and after yesterdays declines, all three of the major averages are in negative territory for the week a lot of things happening with covid and well talk more about that in a moment, but some of those concerns creeping back into what you see in the markets. If you are looking at the treasury market, the yield on the ten year right now is sitting just at about 0. 852 and the vix also spiking yesterday, probably a little bit on concerns about what happens as we go back into some of the lockdowns. The seesaw of good and bad news on covid. And well give you a bit of good news that happened overnight in the vaccine wars developed by the university of oxford and astrazeneca found to be safe. An
The dow did go down. The nasdaq went down 4 or 5 . I spent the better part of this year studying the pandemic i was right. You know what we just cover . The professionals are not the only covid that matters. We have a Massive Group of investors who become professionals. They dont care about the same thing as the experts theyre the ones who were the marginal buyers and sellers. The investors have changed the entire character of the market what made you not be able to sleep at night it was very little belief in stocks for the past 20 years, the convention says stocks could no longer be trusted. They continue to lose their values way too quickly when something goes wrong on top of that, the convention only a fool to try to pick individual stocks. You may as well stop trying to beat the mark and put some of your money in an index fund and invest safely in bonds the last eight months, that convention has been stood on its head by a new generation of investors after the rise of Commission Fr
I am proud to say it led to the first bipartisan package in decades. It took time and a willingness to acknowledge that no party has a monopoly on good ideas. M proud of what we are what we created together. Although we were already holding these hearings in our committee, we require that others hold them also so that all members have a chance to be heard in front of congress. Hopefully, more good ideas have the chance to see a light of day. I couldnt ask for a better partner than our Ranking Member, tom cole. We come from different parties, but we share the same dedication to this institution. What this is really all about, a wellfunctioning house allows us to tackle the issues that can make a positive difference in peoples lives and that is why we already for prep congress and the first place. Before i turn to our ranking on the job to for the house of new parliament parliamentian. Mr. Jason smith. Mr. Cole and i have said a lot about him to his predecessor. And he and his predecesso
That is correct, mr. Chairman. We got to find something we can join here. There may be good reasons, im just trying to i want a global fund to be created like we have done for aids and malaria and other things to deal with plastics that we can control. I want us to look at the World Bank Program and see if we can make some contributions there. We are going to leave the hearing open to friday at 2 00 p. M. For additional questions. I just want to thank you both. I look forward to working with you on this. We are going to provide you more resources. Tell us what you think it is best utilized. Thank you. Mr. Chairman, thank you very much and thank you for the attention. Thank you. The meeting is adjourned. Thank you. Thank you so much. Today, the conclusion of a q a interview about the relationship between the media and u. S. President s. Todays program talks about president s from Franklin Roosevelt to donald trump. With joe biden as president elect, go to cspan for live coverage of the