Hughes is what we claim we want. In both a president ial candidate and a president. A man who did get it. A man called Charles Evans hughes as a Supreme Court justice. All but when the election. In 1916 when president Woodrow Wilson went to bed the Election Night, he thought he was beaten. He had been elected, how American History goes in several Different Directions on suffrage, civil rights. What does he do on Foreign Policy . Germany baited us into war. Wilson would hughes have avoided it . Hes the one you could write novels about. He had Charles Evans hughes who would later the he was on the Supreme Court. He left the Supreme Court when he ran for president. He went back on the Supreme Court. One of the finest minds on the court. A fellow justice called Charles Evans hughes, the greatest in our great line of chief justices. Why hughes . Robert jackson provided part of the answer when he was attorney general. Jackson said that hughes, quote, looks like god and talks like a god. And
Come back parade. Not startling, but reminder these companies are trying to conserve cash. They look to do it reining in the advertising budgets. The effect on broadcast industry, cable industry, newspapers, publishers, that could be pervasive this is not a shocker. Something i want to pass along. Also broadway right now, it is all blacked out. There are no shows. That will continue to be the case at least through labor day. Were getting word from broadway producers this will be case at least through labor day. Reminders here even when we get back to business it could be slowgoing. Certainly in the new york metropolitan area. Certainly among big corporations that have reining in to do. All right, back to dr. Fauci, the kind of things he is outlining right now, the state of the coronavirus. His concern about not opening up too, too quickly. Although it has been kind of a back and forth on this. Sometimes, no offense to the principles involved, kind of like watching paint dry but if your
Cyber espionage. The hack of opm is the latest example. Do the chinese steal our Naval Technology and apply it to their navy, and as a corollary to that, are you aware of any evidence concerning china stealing u. S. Civil Nuclear Technology and diverting it to its nuclear navy . Sir, im not personally aware of any instances of another nation stealing our Nuclear Technology and applying to their navy, including china. That may be happening, im not briefed on any intelligence that would implicate that. I think its wellunderstood that there is Cyber Espionage that occurs. We have concerns from time to time about our cleared defense contractors for example in their Cyber Security. I think Frank Kendall and at l is working hard to tighten that up as best we k. I was reflecting on this earlier we talk about Nuclear Matters. As a sort of graduate of the Navy Nuclear Propulsion program. One of the things that has intrigue said me intrigued me over the years, the element of Human Performance th
Its going to predict how it would react under a stress event. And so was the key one of the key issues is what how are investors anticipating this . Is this part of their Investment Strategy . And do prices reflect it, and do practice Risk Management practices reflect that . I think that there are two issues we have to separate as we address the questions you offered. Is there a liquidity crisis . The first is are we in the midst of a transition from one type of market to over. If over night, we say that ever bond dealer who works in a bank can no longer deal bonds, the next day it will be a little harder to buy bounds. No question about it, and sell them as well. But what will happen afterwards, the banks will sell their operations to hedge funds to other companies, to the employees themselves and theyll get reorganized to find the capital and make money, because there are opportunities to make money when people demand liquidity, by the way, theres no such thing anywhere of free liqui
Wouldnt a level Playing Field as you said from your testimony, we have concerns about things like there is a some Data Retention obligations and we think you could do it differently. There is a best interest contract framework and weve heard feedback from folks saying it is clunky and there is a more streamlined way to do it. We have a point of sale disclosure requirement and people have said that that is not necessary. And so what weve done in every circumstance when someone said that the best interest contract is clunky, our response is tell us how to do it better. How do we retain that north star of enforceable best interest contract and still get it done and that is the feedback weve been getting and it has been helpful. And youve incorporated it. We havent made final decisions yesterday. We wont put out a rule until weve gotten all of the comments. Im confident if history is a guide the final rule will be materially different than and better than the proposal because you have to b