Next the director of the federal Housing Finance agency testifying on housing and mortgages during the coronavirus pandemic. House Financial Services Committee Members asked him how his agency is handling the rice in foreclosures and forbearances as well as the operations of fannie mae and freddie mac. The hearing runs over three hours. The committee will come to order. Before we begin, i want to remind members of a few matters including some required by the regulations accompanying House Resolution 965, which established a framework for Remote Committee proceedings. First, i would ask all members to keep themselves muted when theyre not being recognized. It will minimize disturbances while members are asking questions of our witnesses. Members are responsible for muting and unmuting themselves. The staff have been instructed not to mute members except when theyre not being recognized and theres background noise. Members are reminded that they may only attend one remote hearing at a ti
In the progress here. But take a look at these wind speeds around fairfield we are already seeing gusts at 30 miles an hour and the high winds will be the issue as we go into today as our temperatures once again stay pretty hot reaching into the 90s and up to 103 degrees today. Ill continue to monitor this and well talk about the fire danger as well. Mike, youve been watching the roads. How is it looking . Its looking great right now, kari. Things are moving smoothly on the freeways despite a crash. Well take you out. Green sensors and the crash approaching the benicia breaks affects industrial, the off ramp, but not the freeway heading to 780 and the bridge itself. A live look at the palo alto shows you the span through 101 on the peninsula. A smooth, easy drive. You see the taillights, no problems there. There may be a crew further north. Back to you. Thank you, mike. Now to our breaking news and whats already a record year for wildfires. Across the state 2 million acres have burned
Bloomberg television. We welcome all of you. Lisa abramowicz and i in new york and mr. Ferro in london. Jobs report tomorrow. We are going to do a spacex launch supposedly in 45 minutes. You know what i need from you . I missed you so much. I need a tots update. They are dealing at tottenham, no question about it come with what is going on. Have they finally lifted themselves into the final four . The big clubs, but weve experiment within the United Kingdom is having the fans back, just a few, and trying to work out what capacity we can push that story. Maybe as the League Starts again in the next couple of weeks, hopefully we can build on it through the season. Tom i will say this, and im not kidding, nobody has done it better thans the premier league. The jobs report is a grim number. Jonathan and it speaks to the economic pain. Perspective really matters, and that is what i got to weeks off. You saw more layoffs coming from cardirlines, some Credit Companies putting limits on Consum
Stuff. And it wasnt just americans who were in the situation but so too were our trading partners around the world. They didnt have enough income to buy all the commodities we were producing in our fields and all the wonderful things our factories were making. So by the end of the 1920s the American Economy went bust. You all know the stock market crashed in 1929 and the World Economy went bust as well, a worldwide economic depression set in that lasted between 1929 and wasnt officially over until 1942. What was called the Great Depression could be considered a crisis of abundance. It brought attention to purchasing power and in doing so it ended up politicizing consumption. We talked a lot about how consumer culture rose to be at the very center of american culture. And i keep telling you we need to consider politics, and today is the day we will think about how consumption became plit politicized. So heres a graphic that typifies the usual story that historians tell about the Great D
It. Of we have been watching what has been going on on the louisiana coast for the latest headlines on hurricane laura, that has preoccupied people. Here in europe, also waiting on the latest developments from jackson hole. Just as we see laura weakening to a category three hurricane, although we know they can still linger it still do damage. Tom 120 Miles Per Hour maximum wind, but the landfall of 160 was extraordinary. The shape of the storm has changed as well. With our first word news in new york, here is ritika gupta. Ritika good morning. It is one of the most powerful storms ever to hit louisiana. You were just discussing hurricane laura, it made landfall near cameron, louisiana with maximum winds of 150 Miles Per Hour, plus there is a threat of a catastrophic storm surge and flash flooding. There is concern that damage could leave areas and uninhabitable for months. It will also shut down a third of the regions Refining Capacity. Winds have died down but laura is still a categor