Are authorized to participate. Even when they are not recognized and that they are responsible and then to convince themselves after they finished speaking consistent with the regulations and only is appropriate. All house rules related to order and decorum applied to this remote hearing. To hold financial regulators tyaccountable and in conclusion perspective from the offices of minority and women inclusion. I now recognize myself or four minutes to give an opening statement. Todays hearing focus Holding Financial regulators accountable with diversity and inclusion. Our country is facing covid19 and an economic pandemic and the fight for social justice. These challenges have reached our personal relationship in the unprecedentedys way. I appreciate all the witnesses i am hopeful we will be able to strike a balance between Historical Context with the demand of greater industry inclusiveness and transparency and accomplishment 2020 marks the tenth anniversary of the dodd frank reform ac
Testify on the impact of regulations and efforts to create more diversity in the Financial Sector. This hearing is just under three hours. The subcommittee will come to order. Without objection, the chair has authorized to declare a recess of the subcommittee at any time. Without objection, members of the full committee not on this subcommittee are authorized to participate in todays hearing. Members are reminded to keep their video function on at all time, even when they are not recognized by the chair. Members are also reminded that they are responsible for muting and unmuting themselves, and to mute themselves after they finished speaking. Consistent with the regulations of House Resolution 965, staff will only mute members and witnesses as appropriate when not recognized to avoid inadvertent background noise. Members are reminded that all house rules pertaining to order and decorum applies to this remote hearing. This hearing is entitled Holding Financial regulators accountable for
Unmuting themselves muting themselves. Consistent with the regulations accompanying House Resolution 965, staff will only use members to witnesses as appropriate avoid inadvertent background noise. Members are reminded all house rules relating to order and decorum apply to this remote hearing. This hearing is entitled Holding Financial regulators accountable for diversity and inclusion perspectives on the offices of minority and women inclusion. I now recognize myself for four minutes to give an opening statement. Today, Holding Financial regulators accountable for diversity and inclusion, perspectives from the offices of minority and women inclusion. Our country is facing three pandemics, covid19 and the economic pandemic, and the fight for social justice pandemic. These challenges have reshaped our work and our personal relationships in unprecedented ways. Todays hearing is totally virtual and i appreciate all of our witnesses and members for participating. I am hopeful we will be ab
Ins a draw as they say soccer right now. Jonathan im not sure anyone calls Bank Earnings season the great derby. Darby. Y the fixed trading revenue number. Equity sales and trading revenue. Message fromng the the city ceo. Balance sheet a has plenty of capacity to serve clients. This is the continued message that the Balance Sheet is not an issue, this is an earnings issue. The Balance Sheet is still strong. Tom every bank has different language. 20 some billion dollars of cost of credit. Citigroup and jp morgan lifting a little bit. Wells fargo is its own story. Sonali basak joins us now. We have citigroup out here now i want to go back to wells fargo. How broken is wells fargo . A 2. 4 just posted billion loss. Down to is being cut . 10 compared to . 20 expectations and . 51 where it was before. They are putting up a fraction of what they had before. They are jp morgan with relatively solid results in the face of a tough time. Jonathan is there a broad take away yet for all three . A
What i meant by its not working is were dealing with Community Spread as a substantial number of people getting infected do not know theyre infected. Theyre not symptomatic. Theyre asymptomatic individuals. The classic paradigm of identification and Contact Tracing is very difficult to make that work under those circumstances. You superimpose upon that the fact that even with identification, isolation and contact trace, often the dots are not connected. If you get on the phone and talk to people who are in some of these communityus find that a lot of it is done by phone. When its done by phone maybe half the people dont want to talk to one who they think is a government representative. If you live in a community thats mostly brown or black youre in a different situation that maybe 70 of them dont really want to talk to you. You can identify a contact but you dont isolate them because you dont have the facility to isolate them. That is whats not working. So what were going to do, and we