Guilty to insider trading a decade ago. Were you aware of this before entering into a contract with him . I was not personally but as a company we were aware of it. Were you aware of all the other Credit Swab contracts he had, the lack of your specification on the contracts and the over leveraging . No, there was no Clarity Or Transparency around his positions across the strait. Given a lack of transparency would you support an Sec Rule for disclosure of significant economic interests regardless of the form it might take . For adequate disclosure, i know chairman gains are is going to be looking at this. I certainly would work with him on it. Is it a yes . Im not clearly answer. Clearly the lack of disclosure here hurt, fortunately did not hurt taxpayers or investors. It heard mr. Wayne and his family office. It heard the banks. Generally yes i think its something that should be figured out. The largest banks are earning more and more profits than ever before. But making fewer and fewe
The gentleman from New York mr. Torres is now recognized for five minutes. Thank you, Madam Chair. I have a question for the ceo of remorgan stanley. How much did you sustain and losses from the collapse of [inaudible] . 911 million. And the head of [inaudible] pleaded guilty to Insider Trading about a decade ago. You greedy were you [inaudible] i was not personally but as a company we were aware that. Were you aware of all the other credits of contracts he had entered into and the lack of diversification in those contracts and the extent of his over leveraging . No, there was not Clarity And Transparency around his position. Given the lack of Transparency And Clarity surrounding the Credit Risk would you support an sec would require disclosure of a significant economic interest and a company regardless of the form that interest might take. It is in everyones best interest for adequate exposure. I know chairman Gaines Letter will be looking at this and i certainly would work him14 with
Inadvertent background noise. Members are also reminded that they may only participate in one remote proceeding at a time. If youre participating today, please keep your camera on, and if you choose to attend a different remote proceeding, please turn your camera off. Additionally, i want to announce that for this hearing, it is my intention to recess the committee for five minutes every two hours. Lastly, before we begin, id like to take a moment to recognize congresswoman items who is celebrating her 75th birthday today. Happy birthday, congresswoman adams. Thank you, maxine. Happy birthday. Thank you so much. Thank you. I now recognize myself for four minutes to give an opening statement. Good afternoon, everyone. Today, this committee convenes for a hearing entitled, holding mega banks accountable, an update on banking practices, programs, and policies. And of course you know, testifying before the Committee Today, we will have the ceos of Jpmorgan Chase, Citi Group, morgan stanley
Injuries sustained last weekend after rebels launched an offensive from libya several foreign leaders attended the funeral including the french president emanuel macron in his tribute macron said france will not let anybody threaten chad. This sort of course the people of the region enjoy a peace pact with france we have to make sure the pact lives but of liberty and independence france will not let anybody question or threaten today or tomorrow charlie stability in territorial integrity for us will be you know to ensure that the promise which was made will for all parties stability inclusiveness. And democratic transition this is what from want. In our other top stories this hour hopes have been fading for the 53. 00 crew members of the Indonesian Submarine that went missing on wednesday oxygen supplies on board are now calculated to have run out so much crews are working in waters around the island of bali with several nations lending their help. Jailed russian Opposition Leader alex
Declaration calling the events of 915 genocide only to back down because of strategic interest it was the decision of joe biden to do so for a number of reasons namely the concern of the escalation and aggression that they feel that the turkish government has shown in recent years not just the coup of several years ago and the jailing of thousands after that but also the purchase of the s 400 Russian Missile Defense System not compatible many say with the fact that this is a nato member that this is not compatible with u. S. System so it was the feeling that given the fact that joe biden has made it a priority of his administration to call out and speak truth to power to recognize human rights abuses where they exist this was consistent with that platform the feeling that it was necessary to do this something we should point out has been applauded by both democrats members of the president s own party and conservatives who typically are very critical of the Biden Administration so this