Themselves after they are finished speaking. Consistent with the regulations house resinac 965, staff will mt members and witnesses after the process. Tewe are not recognizing background noises. Orr and decorum apply to this remote hearing. His hearing is entitled ensurin against a pandemic colin challenges a solutions for policyholdersle and insures. I w recognizeyself for three minutes to give an opening statement. According to theongressional Retail Service 1 million peop could enter a sta of extreme poverty due to the Global Economic contraction a here in the United States 67 mlion people have filed for unemployment insance since march of this year or the harmful eects of ts pandemic on the stability of sml sinesses like restaurants nnot be overstated. They have been obliterated. Dozens of restaurants in my home strict and ms. And st. Louis have closed in wh them the vendors who sell the farmers are owing the food truck driver Storage Facility facilities and entire suppl chains are
A chance to spread. So let me give you a closer look. Actually, well go right to governor gavin newsom. I started talking about what b. C. H. S. Would be doing a week after fanny and freddie and the folks put out the new guidelines. I realized quickly i was not only confusing him, i was confusing myself. This whole area of rental protections and issues of evictions can make your head spin. Particularly if youre just someone who wants to know what the heck is going on, and how can i avoid being evicted from my home because of the impact that covid19 has had on my job, my capacity to make ends meet. And so in an effort to try to make sense of all of that, im going to try to make sense of what the state of california is doing in releadership to what housing and urban development has done in relationship cdc hao National Guidelines on evictions and forecasts. But really lay out the strategy for this state pursuant to a bill i signed close to midnight 48 hours ago that we believe will prote
Clock to show you how much time is remaining. All members and witnesses need to be especially mindful of the fiveminute clock. At 30 seconds remaining ill , gently tap the gavel to remind members their time has expired. To simplify the speaking order process, the commission has decided to order ourselves alphabetically. With that, welcome to this virtual hearing convened by the congressional oversight commission, pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As part of our oversight work, the commission has decided to hold this hearing today which will examine the main Street Lending facilities. The Federal Reserve established the main Street Programs to support lending to small and mediumsized businesses, and nonprofit organizations that were sound before the covid pandemic. The program operates through five facilities which we will learn more about this morning.
Small and mediumsized businesses that were in sound Financial Condition before the virus impact of the economy we will hear from the head of the fed in boston and banking and business leaders. Will come tog order. This is a hybrid hearing meaning some of our commissioners are appearing in person and witnesses will testify remotely. Let me offer a few Video Conferencing reminders. Before you start speaking there will be a slight delay before you are displayed on the screen. Click the mute button until your turn to speak or to ask a question. If there is a technology issue, well move to the next speaker until it is resolved. You should all have one box on your screens labeled clock to show you how much time is remaining. Congressional Oversight Commission pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As a part of our oversight work, the commission has decided to hold
Commission has decided to order ourselves alphabetically. With that welcome to this virtual hearing convened by the Congressional Oversight Commission pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As part of our oversight work, the commission has decided to hold this hearing today which will exam examine the main Street Lending facilities. The Federal Reserve established the main Street Programs to support small and immediate you yumsized business answer Nonprofit Organization that is were in found sentence condition before the onset of the covid19 pandemic. The program operates through five facilities which we will learn more about this morning. The programs being administered by the Federal Reserve bank of boston todays hearing will have two panels. President eric rosengry. N, Federal Reserve bank of boston will testify during the first panel. Second panel will i