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Looked at and chosen that not to offer at this time until we figure out the risk. Were a little behind the curve on some of the new technologies. Thats the impact of the risks that we try to face each day. I want to get back to a few more questions with you. I want to just remind this committee where this all started from. I want to go back to september 25th, 2003. A hearing here at Financial Services committee hearing. Chairman frank, you said on the record, i do not want fannie and freddie to be Just Another Bank. If they do not more than Just Another Bank sorry. If they were not going to do more than another bank would be because they have so many advantages then we do not need them. And so therefore, i do not think, i do not want the same kind of focus on safety that we have at occ and ots. I want to roll t ....
We thank the witnesses for being here and it seems to have developed among some of the members that the costs of some of these regulations and the red tape thats resulted from these regulations, a lot of that has been testified to by mr. Wilson. A lot of it is either not real or either not real or if it is real its not having an impact or not significant. In fact, it seems that were heralding that this is a good bill because wall street has hit alltime highs. And i would suggest that may be true but it does not properly reflect the overall economy and the reality that the folks i represent are feeling. And i represent virginias fifth district, a rural district. 23 counties and cities. Mostly main street america. Weve had in the last six years unemployment in parts of our district as high as 20 . North of 20 . Theres still localities in our district where we have unemployment almost as high as 10 . Our economy is struggling and we need jobs and we need to capital. We had access to capit ....
And i dont think she has a clue and then you have been heard from her since. She shouldnt have called it at all. There was no reason to call it at all. Financial markets are rattled all around the globe after the dramatic events in europe. A look at what could have happened on monday and West Virginia rising flood waters killed 23 people and rescue efforts are still underway but we start overseas as fall out over britains vote to leave the eu continues to have major ramifications today. Top officials held an emergency meeting demanding britain leave as quickly as possible and now scotland is calling to stay in the eu. It caused a financial melt down. 2 trillion lost by the end of the day. And shock over leaving europe was expressed across newspaper stands all over the city. It reached 2 Million People. Thats 20 times to debate it. Even some that voted to leave are regretting i ....