Options that the Obama Administration is considering in response to the escalating violence there. Sec chair Mary Jo White recently outlined new stock market rules at the Economic Club of new york. The proposed changes include oversight of high speed traders and improvements to the transparency of private trading venues. Her remarks and q a are 50 minutes. If people could please get seated. Thank you. Please get seated. You make me feel like a party pooper here. Im bill dudley. Im vice chair of the Economic Club of new york and mrs. President of the Federal Reserve bank of new york. I want to welcome everybody to the 438th meeting of the club in our 107th year. The Economic Club of new york is the nations leading Nonpartisan Forum for Economic Policy speeches. More than 1,000 speakers have appeared before club. And has established a very strong tradition of excellence. Id like to recognize the 214 members of the entenial society who the have contributed to ensure a sound future for the
Timeline. This morning we consider the u. S. Response to the terrorist takeover in iraq. Nearly six months ago, the Committee Held a hearing. The title of that hearing was al qaedas resurgence in iraq, a threat to u. S. Interests. Then the administration testified at that hearing isis had become to shift resources from syria to iraq in early 2013. That it had tripled its Suicide Attack in that year and that it planned to challenge the Iraqi Government for control of western iraq and baghdad. Thats what we heard six months ago. The administration testified that it had become aware that isis had established armed camps, staging areas and Training Ground in iraqs Western Desert in the summer of 2013 and that isis leader had again threatened to attack the United States of america. The administration told us that isis must be, in their words, constantly pressured and their safe havens destroyed and that its objective was to ensure that isis could never again gain safe haven in western iraq.
Korean energy needs have been met by iran and that irans desire forea armaments have bee met. What do we know about trends in Oil Consumption by north korea and if they are stockpiling iranian oil . Im not aware of iran oil to any great extent i will say to north korea. Im not aware of that. Switching to russia a little bit. How have increased tensions between russia and west affected russias relationship with north korea . Well, russias relationship with north korea fundamentally changed in 1989 1990 when the soviet union disappeared and the client relationship that existed did you say appeared and so now they have a very, very Small Economic relationship quite frankly. They have a political relationship. But its not nearly as important as that between beijing and pyongyang, between china and north korea. So you dont believe that the russians have intensified or accelerated any weapon sales to north korea in recent years . Im not aware of anything significant in that regard, no, sir.
Not to create an empire, not to build an empire, not to force people to speak english and to follow american ways, but so they could be free to choose the way in which they should go. Countries historically have not done that, and we have. Hasnow that generous nature been used by this administration ntil its become a vice. A vice that would allow our allies to be killed and oppressed and persecuted because were going to let the bullies take over. Not only did we watch and let bullies take over in other parts of the world, we saw the ashe spring, that in the not so distant future would become a jewish and christian winter, a bleak, miserable winter for jews and christians and secularists. And we demanded that the leader of egypt be ousted. Never mind that this administration had agreements with the egyptian leader, president. E turned our back on them. The soviet after union fell and the United States , particularly the clinton administration, if i understand it, they guaranteed ukraine
Care system. Those costs have had a tremendous effect on what the United States had so these are real debates but it doesnt diminish at all the kind of threat mike rogers said is there. Its why in my view malikis duty in representing the people i disagree that leaving congressman rogers that leaving residual troops would have made a difference in this case. We have a very naive sense that if we send troops in, that somehow the u. S. Still plays parent that all of the other pactors in these complex regions with complex neighborhoods and neighbors that like to medal inside the countries, wont happen. Thats simply not the case. We may need to i dont know how to put it but play with a little bit of humility in these cases and realize that what we need is to try to contain situations. Try to figure out how to get isis limits because i think what hes talking about reaching out to players inside English Speaking countries like the United States and uk and elsewhere and try to activate terrori