Too hard on the banks. In his confirmation hear, he said that he would, quote, continue to consider appropriate ways to ease regulatory burdens. When i asked him if there was a single financial rule he thought should be stronger, just a single provision in one of the feds dozens of rules where there might be an unintended loophole or where an inknow stative product has innovative product has introduced a new risk into the system, he couldnt name a single one, not one. And my questions for the record, i also asked governor powell about a report that the Treasury Department put out last june. Now, this report was really just a cut and paste job of the banking lobbyists wish lists for rule rollbacks. Governor powell do not identify any recommendations in that report that he disagreed with. Again, not a single one. And thats not all. At governor powells confirmation hearing when my republican colleague senator kennedy asked him about whether there are any institutions today that are too bi
[inaudible conversations] [inaudible conversations] we are back. We will pick up where we left off and start with senator cruz for his questions. Thank you, mr. Chairman. Mr. Ross, congratulations to you and your family on this nomination. I think you are going to do a terrific job and i look forward to this committee working closely with you. Ill tell you one of the things im most excited about, you and i had an opportunity to visit at length, and your commitment to regulatory reform, to working to reduce the burdens of washington on Small Business and job creators i think its critically important and i think it is shared by cabinet appointees throughout this administration. And that is what aspect that is going have among the most dramatic impacts on bringing back a jobs, expanding the number of highpaying jobs and raising wages across the country. So i commend you for that. I want to talk about a number of specific areas. I want to start with addressing spectrum, which as you know i
[inaudible conversations] [inaudible conversations] we are back. We will pick up where we left off and start with senator cruz for his questions. Thank you, mr. Chairman. Mr. Ross, congratulations to you and your family on this nomination. I think you are going to do a terrific job and i look forward to this committee working closely with you. Ill tell you one of the things im most excited about, you and i had an opportunity to visit at length, and your commitment to regulatory reform, to working to reduce the burdens of washington on Small Business and job creators i think its critically important and i think it is shared by cabinet appointees throughout this administration. And that is what aspect that is going have among the most dramatic impacts on bringing back a jobs, expanding the number of highpaying jobs and raising wages across the country. So i commend you for that. I want to talk about a number of specific areas. I want to start with addressing spectrum, which as you know i
Good morning. We are meeting today to consider the nomination of mr. Wilbur ross to be the next secretary of commerce. If confirmed mr. Ross would bring decades of business and entrepreneurial experience to this position best known for revitalizes distressed businesses such as those in the United States Steel Industry. At a time most inventors aban n abandoned the industry, investors abandoned the industry he organized the International Steel group in 2002 through acquisitions of the largest Steel Company in north america, later it merged to form the largest Steel Company in the world. Mr. Ross strong record of achievement led Bloomberg Business week to name him as one of the 50 most influential people in Global Finance in 2011. Its also why he is the only person elected to both the Turnaround Management hall of f. A. M. E. And private equity hall of fame. Mr. Rosss business is complemented by a service 0 the communi community. Mr. Ross served as First Lieutenant of the u. S. Army and
Blue mosque and is unesco World Heritage site. In january of last year, a female suicide bomber blew herself up at a Police Station in the district, killing a Police Officer and wounding another. In october, a bomb attack in ankara killed more than 100 people. Police suspect the Islamic State militant group was involved. Well have more details for you here on newsline. Investor concerns over chinas Financial Markets and Economic Outlook are fueling volatility in other asian benchmarks. Gene otani joins us from the business desk. Gene . Thanks, james. The selloff is continuing here in japan after a threeday weekend. The nikkei average hit a 3. 5month low on tuesday. Mayu yoshida at the Tokyo Stock Exchange has the details. What did you see today . The stock selloff is unstoppable here. Its not just china but crude Oil Prices Hit sentiment. Investors are worried that the stronger yen would weigh on japanese companys earnings this year. So the stock selloff continued after the markets reo