Commissioner sommer is excused and we have a quorum. Next we have the land acknowledgment. The Building Inspection Commission we acknowledge that we are on the unceded ancestral homeland of the Ramaytush Ohlone who are the original inhabitants of the San Francisco peninsula. As the indigenous stewards of this land and in accordance with their traditions, the Ramaytush Ohlone have never ceded, lost nor forgotten their responsibilities as the caretakers of this place, as well as for all peoples who reside in their traditional territory. As guests, we recognize that we benefit from living and working on their traditional homeland. We wish to pay our respects by acknowledging the ancestors and relatives of the ramaytush community and by affirming their sovereign rights as first peoples. Thank you. Next, members of the public who may be listening, the call in number is 4156550001. The access code is 26623406799893. To raise your hand press star 3 and for the Webex Webinar password is 0515.
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
Must remain at the heart of the fcos work and our diplomacy. The Prime Minister and the chancellor have said many times that you cant be a strong country unless you have a Strong Economy. You cant have a Strong Defense unless you have a Strong Economy to underpin it. The Foreign Office is an important part of the agenda. Ive said many times and ill say again today that the role of the Foreign Office, paid for by british taxpayers must be to protect britains security, to promote britains prosperity and to project britains values around the world. If we do these three things successfully, well deliver our obligations to the taxpayers who fund this. We want to be a major player on the world stage. The Prime Minister signaled very clearly that britain is not in retreat, that we will play our role in keeping the world safe and supporting our own allies prosperity. That means rebuilding the office to ensure the best in the world that my predecessor started ensuring that Foreign Policy is mad
Pretty amazing considering everything we got going on, not a lot happening for the major averages. Mixed trading action, similar to yesterday. The nasdaq off of its lows. If it finishes down today, it will be the first today slide in the week. Two day slide in a week. Lets take a look at the big earnings movers and the reason why the nasdaq is down a bit more than the s p 500. We are looking at tesla, facebook and semantic symantic. Tesla down sharply, down 5 on the model three update. Elon musk says they will be making 5000 cars per week in march. That is pushing that out three months, causing questions from investors. Plunging 9. 5 . They cut the fullyear view. They need to move more toward the cloud. Heres one winner, alibaba up 1. 7 . Thes beat by 6 Chinese Consumer is very strong. Lets see how alibaba is performing relative to the u. S. Internet companies. On the bottom, we have all the saying stocks, up between 25 and 50 . Alibaba up there in white, up more than 100 , tencent rig
Unfair for the people who come at the end of the discussions because they do not have a their testimony. I thank you to please keep comments to a limited three minutes. Started, i would like to ask all of the drafting Committee Members to introduce themselves. I tell you, i say it is an honor and pleasure to serve with these ladies and gentlemen from across , a verytry compassionate and Brilliant Group of people who are trying to synchronize the problems that our constituents are going through, the issues that are. Acing americans because we great pleasure to let them introduce themselves briefly. Thank you very much. And the policy director for senator Bernie Sanders. I am a member of the toledo tribe. I am Bonnie Schaeffer from North Carolina and florida. Im honored to be on this committee. Fromd Luis Gutierrez chicago and i want to say hi to all my friends in phoenix, arizona. Cornell west. Teacher and citizen. Tandon neera tanden. Wendy sherman. President of the arabamerican instit