Dramatically access to users on internet virtually any gist that wants to be found on the web must pay google a tax. With that i recognize the Ranking Member of the subcommittee, mr. Sensenbrenner. For first round of questions. Thank you, mr. Chairman. Ive been in congress 42 years. That is coming to an end at the end of this year. Im breathing a sigh of relief. During that period of time, during decade of 90s and 00s, i was involved as chairman of the Science Committee and chairman of this committee and trying to make the net universal, open it up to everybody and one of the, one of the theses that we used that the net should end up becoming basically the debate on issues, not only in our country but throughout the world and in exchange for that this committee and the Congress Gave Internet Service providers immunity so if somebody said something defamatory in what they posted. Isps could not be a part of a lawsuit for defamation. After hearing mr. Jordan, you know, a long line of cen
Woke hypocrisy . That and much more on making money. Charles all right, folks here is what i think are three main reasons for todays steep sell i dont have. Stocks got too expensive, short term, bottom line. Last week we saw the stock market put it in the best 50day rally in it history. Guess what . It only got stronger. It got parabolic. That is chance that weve seen best 60 days ever and pullback was way overdue. Second, the Federal Reserve refused to lay out concrete ideas how they provide extra hope to prolong the recovery. Wall street wanted more about bending that yield curve. Third, investors are waiting to see how much cash begins to circulate in it economy. I want to bring in two of my favorites, wallser, rebecca wallser and keith fitzgerald, principle his group. Keith, before you start, from march 23rd to the peak this week, s p was up 45 , dow up 47 and nasdaq up 46 . I like to remind people occasionally markets go down. Thats the thing. They stink. Theyre uncomfortable. Its
Open up higher, just a little higher, and yes, we are still very close to record highs. The dow is going to be up maybe 15, 20 points. Very small gain for the s p, 11 points up for the nasdaq, but up is the operative word of the day. Now look at this. Street battles in hong kong. That is the right word to use. Water cannon was in use, police pointed their guns. There is a report of a shot fired in the air. Chinas leader has a growing problem in his own backyard. Tomorrows october 1st. Chinas big day. The last thing xi jinping wants is more violence in the form of british colony. Big protests are planned. We will be looking at the impact of this on china trade and yes, on your money. Look at this, too. Huge fire at a new billion dollar train station in saudi arabia. That comes on the heels of the attack on the big oil refinery there, and the shooting death of a saudi general who was a bodyguard to top saudi leaders. Plus a reported attack on an American Military installation in somalia.
And it is going to disrupt industries and create unemployment on a scale that we havent imagined before. Ifill plus, scaling back on the nuts and bolts that hold us together, when federal funds grow scarce. Stopgap solutions to maintain safe sidewalks, roads and bridges. Woodruff all that and more on tonights pbs newshour. Major funding for the pbs newshour has been provided by and by the alfred p. Sloan foundation. Supporting science, technology, and improved Economic Performance and Financial Literacy in the 21st century. Supported by the john d. And catherine t. Macarthur foundation. Committed to building a more just, verdant and peaceful world. More information at macfound. Org and with the ongoing support of these institutions and individuals. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Ifill the u. S. Senate sent legislation to the president today authorizing a threemonth pat
And it is going to disrupt industries and create unemployment on a scale that we havent imagined before. Ifill plus, scaling back on the nuts and bolts that hold us together, when federal funds grow scarce. Stopgap solutions to maintain safe sidewalks, roads and bridges. Woodruff all that and more on tonights pbs newshour. Major funding for the pbs newshour has been provided by and by the alfred p. Sloan foundation. Supporting science, technology and improved Economic Performance and Financial Literacy in the 21st century. Supported by the john d. And catherine t. Macarthur foundation. Committed to building a more just, verdant and peaceful world. More information at macfound. Org and with the ongoing support of these institutions and individuals. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Ifill the u. S. Senate sent legislation to the president today authorizing a threemonth patc