This hearing is just under four hours. I spent. [background noises] the committee will come to order. Without objection the chair is authorized to declare a racist of the committee at any time by this hearing is entitled semi annual report of the bureau of financial protection. Without objection all members will have five legislative days within which to submit extraneous materials to the chair or inclusion in the record. I now recognize myself for four minutes to give an Opening Statement. Thank you director for being here today. As the director you wear a lot of hats. You are a member of the federal Deposit Insurance Corporation and the Financial Stability oversight consult. This committee spent a lot of time understanding how regulators reacted to the failures of Silicon Valley macon signature bank. Given both the fcic have equal rolls in the failures i am looking forward to hear about your involvement in the decisionmaking process. As we said the fdics chair grunberg and pfister ba
Forefront of the conversations taking place in and around the country. So look to many more of these evenings with you. First and foremost, i wanted to share little bit about the history of modern in case some of you arent familiar. Modern age was founded by kirk in 1959, but he actually had the idea for modern age in 1951. And in 1951, he began to circulate a prospect to various investors in the midwest and. His target readership was quote, professors, clergymen, leaders of businessmen in government and and this is important. Those reflective people in obscure walks of life who preserve the equal of any society. So i will leave it to you, whether you are the you know, titans of industry and the powerful men of government, or whether you are those, you know, obscure people preserving, the balance. But well, that statement is amusing. I do think it sort of its sort of a fundament. Its a statement about the dignity of ordinary people because who is preserving the equilibrium in society.
Also comes up with different contexts. For example, now danya is fond of gymnastics. Well, its just so professional, yes, that is, hes entering competitions , hes already, uh, progressing, he has certain records. Well, for example, he is now the last record 20 times he began to pull himself up. Heres dad, as if spontaneous , without my consent, decided that 2,000 from mom 2,000 from dad for such an achievement. This is how he replenished. Actually now for 4,000 piggy bank of his dream. Hes saving up straight a lot of 42. 000 on quad bike and he has a little left. In general, this is, in principle, good. Im from the language question is not in the role of the situation. Do you know how . Well, in general, it happens, probably, in the families that you advise. Mom, then, conducts strict accounting control of 500 rubles. So a week, and then he comes, dad says, well, you have 1,000 rubles on your son. You are great, absolutely. This story is the same, that is, in our family i am more of an
Hour. How his client base has changed. Lets get a check on the markets where these are correct me if im wrong fresh session lows. The dow is down 223 points now. And the s p is only down a half a percent. The nasdaq is down less than that. A tenth of 1 . The major averages give up more ground on those shutdown headlines. Nike still higher today. Sales were short of what analysts were looking for. Some optimism about improving Profit Margins and earlier inventory declines leaving investors to buy today. Nike shares up 7 . And we have you joining us on set for the entire hour. We have to start with the two big issues hanging over the markets right now. Strikes and the shutdown. Phil lebeau is covering the auto workers strike, Emily Wilkins is in washington, d. C. , following the negotiations over the Government Shutdown. Phil, lets start with you with the latest on the auto side of things. Its not good. And were hearing from frustrated executives at ford, we just heard from jim farley, y
Hundredths, that is, ukrainians who voluntarily surrendered, that is, you fought for what, it turns out, 15 minutes, there is no point in resisting, Grigory Vdovin about how volunteers from a veteran unit fight as part of the armed forces, if slavyansk is visible from somewhere, then most likely, from this point its 20 kilometers away, and putin has a separate meeting about the formation of volunteer units that can perform various combat missions, primarily, of course, in special military operations, and musk also shows the states migrants at the american border, Congress Allocates money to ukraine. The west is waiting with horror for tomorrows elections in slovakia, where former Prime Minister fitz, who is against the armament of ukraine, may win. The us does not deserve to have pandas from china staying in america. This panda in memphis is the latest casualty of rising tensions between the us and china. Beijing brings pandas home, but not from moscow, where they are happy, this is a