Disclose the closed session. Second. All in favor, say i. I. Opposed . Other new business commissioners want to announce well not have the next Commission Meeting on august 23rd that is cancelled and next on september 13th same in the same room no future comments the meeting is adjourned [gavel] good morning and welcome to a special meeting of the government audit and Oversight Committee of the San Francisco board of supervisors. I am the chair of the Committee Aaron peskin joined to my right by norman yee our member london breed is in the nations capitol today and wont be joining us. Madam clerk do you have any announcements . Please silence all cell phones and 21 Electronic Devices and all documents submitted to the clerk and items will be on the. Board of supervisors agenda unless otherwise stated. Thank you ms. Major. Fiscal year can we have a motion to supervisor yee can we have a member to excuse supervisor breed. inaudible . That is moved. Madam clerk can you read item 1 and two
The committee will come to order. Without objection, the chair is authorized to declare a recess in the committee at any time. This hearing is entitled semiannual testimony on the Federal Reserve supervision and regulation of Financial System. I now recognize myself for three minutes to give an opening statement. As we all know the dodd frank act vastly increased the powers of the fed way beyond has traditional Monetary Policy responsibilities. The act has made the fed omnipotent but cannot make it omniscient. No act can. Through the exercise of socalled heightened prudential standards the fed can control the largest Financial Institutions in our economy. Former fed governor kevin warsh recently wrote Central Bank Power is permissible in a democracy only when its scope limited, its track record strong and accountable assured. None of that do we observe today. Where his feds omnipotents has taken us . The big banks are bigger, Economic Growth lags and theres scant evidence our economy i
Showers may be someone pulls later today. Some rumbles later today. Upper 60s for the high today. We had about 1 inch of rain yesterday at hopkins. We have more to add to that today. Low pressure is still parked over us and much. We are continuing to see showers all across northeast ohio. They are light and scattered right now but creating some wet roads. Showers around rocky river and light showers showing up further east from areas like ashtabula and into further south in akron. For the time being cant and you have dried out. And we look ahead to see how this will impact your weekend. I mentioned if youre turning freeflowing. No delays or accidents. Were doing a great job. Rain and wet roads its when you get the rain showers is when you get the standing water. Be careful of that today. Still going 60 on the interstate. You can tuned into wtam 1100 for updates. For usa today, the Editorial Board has never taken aside in the president ial race it is 34 years until now. The board was to
Was arrested for drinking and driving saturday evening. It happened here near 76th and florist after 48yearold lisa baake hit a squad car while stopped at the red light. According to police, officer baake hit the squad car so hard here, one of the officers had to go to the hospital. He was treated for back pain and released. Baake has been on the force for 22 years. A man answered the door when we knocked at her home this evening for comment. I do not have time for this. Reporter own car at the time. She is a Field Training officer from district 4. Police have suspended her. This is her first offense for owi. Her case is being referred to the district attorneys office. Christina palladino, wisn 12 news. Anchor an unusual sight hail in wisconsin in september. This video is from dane county, and that stretch of storms thunderstorm watch for a time. Any more Severe Weather on the way . Meteorologist we do not have to worry about Severe Weather, but we still have pockets of rain in some ar
The meeting is coming to order and were going to declare the recess at any time and its called sem annual system on the sup super vision and i recognize myself for three minutes to give an opening statement. As we know the act decreased way beyond the monetary responsibilities. The act is made the fed omnipotent. Through the exercise of the heightened standards the fed can control the largest Financial Institutions in our economy. Former fed governor kevin warsh wrote that Central Bank Power is premisable when the scope is limited and the track record strong and the aaccount blt assured. None of that do we observe today where as the feds has taken us and the big banks are now bigger and the small banks are fewer and the Economic Growth lags and theres evidence that the economy is more stable. Two mu fed authorities granted under dod dx frank have been problematic. The see kra si make it impossible to measure the over sight or the integrity of the test findings. As columbia has testifie