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The committee will come to order. Without objection the chair is authorized today declare a 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, were here to examine the impact of facebook on the Financial Services and housing sectors. Our sole witness is facebooks chairman and ceo, mark zuckerberg. Facebooks plans to create a digital currency, libra, and a digital wallet raise many concerns relating to privacy, trading risk, discrimination, opportunities for diverse owned financial firms, National Security, Monetary Policy, ....
Whether or not you intend to have libra and your digital wallet register in each of those countries. So that there would be a regulatory oversight. What we have found is an amount of individuals we have interest in the under bank. We are interested in those who are not bank. Those individuals who are supposed to be pay more than anybody else. We have institutions here. Minority depository institutions. If you want to show that you are doing the right thing, with all of the money you have, you can do it here in the United States and other places also. That is an answer you should know. I urge you to go back and find out. I would guess that there are zero dollars there. You should thereby then look at your policy and change it. Louder thans much words. You do have a trust factor. I met with a lot of your investors who are all pulling out of libra. Lets look at the news. The other thing that is important to me is our democracy. Democr ....
Of policies that can identify all of the dimpt types of harms. Underbanked, whether or not you intend to have libra and your weve talked about a number digital wallet registered in today. Each of those countries so that terrorism, child exploitation, there would be regulatory oversight. Because we have found a lot of health missi individuals we have payday health misinformation. Lenders who say were interested in the underbanked we now have more than 35,000 people at the company wo work on o safety and security overall. Were interested in those that are not banked we spend billions of dollars a year on this our budget on safety and security is now greate the compy and those individuals who are supposed to pay more than when we went public in 2012 so a anybody else weve got institutions here, big effort i believe that it should not sit on any one companys shoulders to make so many important minority depository decisions about speech so one of the things that ive institutions and if you ....
Without objection the chair is authorized today declare a 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, were here to examine the impact of facebook on the Financial Services and housing sectors. Our sole witness is facebooks chairman and ceo, Mark Zuckerberg. Facebooks plans to create a Digital Currency, libra, and a digital wallet raise many concerns relating to privacy, trading risk, discrimination, opportunities for diverse owned financial firms, National Securi ....
P power lunch starts rite now. Welcome to power lunch. Stocks taking a turn mid day after the trade headlines. The dow is down about 75 points here a quarter of a percent. The s p down a quarter of a percent. Nasdaq is being hit the hardest. Momentum is under pressure check out shares of roku gett tg slammed after one analyst says stocks should be cut in half its on track for its worst week ever lets have more on the trade developments weighing on the market now we have the very latest. When trade talks wrap today, we were expecting a subset of that chinese delegation to head to the midwest to American Farm country to visit with farmers facetoface to talk about potential purchases down the road and to express their good will for maintaining relationship as of today those visits are called off the Chinese Embassy confirming that the vice minister of agriculture will be heading ....