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Committee will come to order. Let me think our witness for your patience. We are now ready to proceed under the five minute rule and i will give myself five minutes to begin the question phase of the hearing. Over the last year, has taken a number of actions to reduce the ability of fha borrowers to utilize down payment assistance programs from governments and cities. To purchase a home and has indicated that it intends to issue a proposed rule affecting down payment assistance in january. Secretary carson testified before this committee in june that he was not familiar with the hud data that identifies which Government Entity is providing down payment assistance and it appears that hud cannot determine which Government Programs are providing down payment assistance for any fha loan. Which is critical before attempting to issue new regulations of government down payme ....
Transformation which will catch every part of our society and our economy. And we will do it because it is the right thing to do. Investors want their say. Carl icahn turns hostile in its bid for hp and dell shares dropping in after hours trade as they slash its full year revenue cost and blames a chip shortage from intel. I feel like a bit of a broken record saying this every day, but we have new wall street record highs yesterday for all the three majors yet again inching higher yesterday more optimism on the trade talks as well with the u. S. President saying that they are in the final throes of reaching a potential deal and that has given a boost to asian markets as well. The stoxx 600 reached a four year high. So very good dumomentum and you can see that there is a green board right behind me. All the majors are trading positive ftse 100 the outperformer up about 30 points. Good performance in the Mining Sector so that is the ....
[inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] the committee will come to ord order. [inaudible conversations] [inaudible conversations] [inaudible conversations] without objection the chair is authorized to declare recess of the committee at any time. This hearing is entitled an examination of facebook and its impact on the Financial Services and housing sectors. I now recognize myself for five minutes to give an Opening Statement. Today we are here to examine the act of facebook on the Financial Services and housing sectors. Our sole witnesses the facebook chairman and ceo, Mark Zuckerberg. Facebooks plan to create a Digital Currency, libr ....
[inaudible conversations] [inaudible conversations] is recognized for five minutes. Thank you. Mr. Zuckerberg, thank you for being here today and i want to thank the chairwoman for having this hearing. Youve said a lot of things today that couldnt have been said during the last hearing. Your responses to questions has been very district and very helpful. Thank you for that and thank you very much for being here. I just had a few quick questions about the Libra Association. On the website, one of the benefits before mr. Marcus appeared before our committee was that those contributing, who joined the association, could derive dividends from libra investment tokens and thats since been taken off. Could you elaborate on that . Sure, congressman, i think that there had been an idea that in order to encourage marketing of the payment service, that there might be some investment that other companies could make into this and some retur ....