Well tell you what it is and what to expect in the new decade but first its the final countdown cool. The whole show lousy song yeah . Its a miserable song right up there with the eye of the tiger which is one of the five worst songs of all time. Great movie. The movie it was in jordans bulls were introduced to this song the other night, werent they . Good memories for me. Okay. Well, it is the final countdown nonetheless, guy, whether you like it or not its the final countdown theres one trading day left before we ring in the new year and a new decade and its looking to be an ugly end to the year with stocks posting the biggest losses in four weeks so should you hold off on popping the bubbly or was today just a minor blip i think its a minor blip i thought the market was going to go down since september i said it earlier that december is going to be at best a choppy month but at worst a volatile month. Didnt pan out that way. Look, i do think that things have gotten ahead of themselv
Order. I now recognize myself. I am. Sorry with that objection, the, chairs in our authorized to declare recess. Of the, committee and anytime. Members of the, committee not on the subcommittee, are authorized to participate in twos hearing. And, the, hearing is entitled, an examination of the federal housing administration. And its impact on homeownership in america. I now recognize, myself, to give an opening statement. Okay. There was a time, when i have a chase policies, explicitly denied access to the American Dream of Home Ownership. Two black families and people of color. Making only only on home a privilege, afforded primarily to white americans. Or contributing to the racial wealth gap as we know. It as of the third quarter, of 2019, the white homeownership rate is 73 compared to nearly 48 for that he knows and 43 for black home owners. Today fha plays an Important Role in the Housing Finance system. And is helping to ensure that access to homeownership is broadly available in
After we got the outline of phase one trade deal china President Trump has agreed to lower some of our tariffs in exchange for, it looks like, 50 billion a year in agricultural purchases. And some much firmer protections against intellectual property theft and currency manipulation. And those last two pieces, please, youve got to understand thats what the United States is fighting for thats the real meat of the deal we need Chinese Companies steal our patents and trade secrets and we need china to swear off currency manipulation. I dont know i assume the case. I think let me tell you i want to make this really clear. Ag is not what this is about but we got to spend some time on it because its what people are going to talk about. China has a history of not following through with its trade commitments. And this time, weve got powerful enforcement mechanism theres still going to be a 25 tariff on 250 billion worth of chinese imports with a 7. 5 levy on another 120 billion that had been cu
An examination of the federal housing administration. And its impact on homeownership in america. I now recognize, myself, to give an opening statement. Okay. There was a time, when i have a chase policies, explicitly denied access to the American Dream of Home Ownership. Two black families and people of color. Making only only on home a privilege, afforded primarily to white americans. Or contributing to the racial wealth gap as we know. It as of the third quarter, of 2019, the white homeownership rate is 73 compared to nearly 48 for that he knows and 43 for black home owners. Today fha plays an Important Role in the Housing Finance system. And is helping to ensure that access to homeownership is broadly available in in 2019 alone, they have over 615,000 borrowers become home owners for the first time. With over 33 of the markets endorsements serving minority borrowers and over half serving low to moderate income borrowers. Fha also plays a vital role in expanding access to affordable
Tea leaves boosting stocks china says trade reps are in close contact with the u. S futures do point to a second higher open. Plus, putting mergers on notice Elizabeth Warren drafteding legislation to reverse mega mergers. And a shakeup at united airline, oscar munoz stepping down president scott kirby will take over next spring we do have breaking news on gm for that we will go to phil lebeau in chicago. A busy day, phil. Reporter it is a busy day, phil General Motors announcing it is forming a joint venture with lg chem the two companies will be creating an electric vehicle battery plant in northeast ohio. It may be if lorn lordstown or outside lorsdtown where gm used to have a plant. They sold the plant earlier this year gm will invest up to 2. 3 billion into that joint venture with lg chem located near lorsdtown, ohio and create up to 1,100 new jobs this is a move many expected they talked that it had plans to add jobs in northeast ohio we will talk first with gm ceo mary bar repor