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today, we will address a very important question is there a student debt crisis? in many of us are well aware of the ever-expanding student loan market and the latest estimates are that nearly 40 million americans are laden with $1.3 trillion worth of student ebt. one in four of the borrowers is either in delinquency or default. last year s graduating class had an average of $35,000 in student ebt. those are striking numbers. the obama administration recently announced two policy changes and presidential candidates have focused on a variety of alternatives of ways to lower the debt burdens. today s speakers are two leading voices on student debt. rohit chopra was recently named special adviser to the u.s. department of education. he previously served as the assistant director of the consumer financial protection bureau. he led that agency s work on behalf of students and young consumers. the secretary of treasury named im as the agencies first student loan ombudsman. ....
french muslims in british muslims need to more forcefully condemn terrorism, benefit from that solidarity that is created. a couple of books i have read from women, i can t think of her last name. she was part of the dutch parliament for a while. these two authors i am thinking very vividly describe what it is like for women in islamic ,ountries, general mutilation all of that, really tough to read, and i think the start of an underground group of women that are tuning into this then extrapolate to islam broadly, and i think that has not been, at least i m not aware of it being countered or if it could be countered. women the attacks against by how harshly islam in their expense treats women. i should say i am not an expert in islam abroad. cases, suchf many as saudi arabia and iran, where there is clear evidence of discrimination against women. it is also worth noting that many of the heads of state in the world are muslim women. certainly one hears of these egre ....
look at the other markets as well. we ve got the nasdaq, the russell, and dow transports for everybody to keep an eye on. the nasdaq having a great session, um 1.25%. good enough to puck it back at 5,043 for the level the. the russell, the small caps doing pretty well, up almost 1% or 11 points. the transports are lagging a bit, up half a percent. they have suffered this year, especially, coming back a lit there will. in the midst of all this real action, there was a seemingly phony bid for avon. halted shares of the cosmetic maker. more on that story later. what a crazy story that was midday at the new york stock exchange. let s get to our closing bell exchange, talk about this rally the economic data, and a lot of other things. heather hughes from sun america funds joins us today. jacob jordan from hd best financial services with us, jason tried from glen meade is out there and so is rick santelli. rick, you ve established that you believe the rising yields in ....
i mean yes we are going to be living i mean i have an economic forecaster but everything i read suggests we are going to be living with an unusually high levels of unemployment, a lot of pain from over indebtedness and a quarter of the country is on food stamps. i mean it s not a great depression. we are not repricing exactly what happened in the 30s but it s a version of that. see the consumer financial protection bureau estimates that student loan debt is more than a trillion dollars. up next the senate budget committee looks at how that that affects borrowers and the economy as a whole. this is an hour and a half. [inaudible conversations] see this hearing will come to order. i want to thank senator johnson who is filling in today for my ranking member senator sessions. welcome to you and all of our colleagues who are joining us today as well as a roomful. welcome to all of you on a really important topic today. we are going to be talking about a challenge that 40 ....
and other consumer products can do that disclosure so can an agency that regulates nuclear reactors and we have bipartisan support for this. going forward will each of you commit to providing advance notice of your meetings and your travel and providing information about the topics intended to be discussed at each meeting? starting with the chairman. i commits to providing to the degree that i can because my schedule changes on a daily and sometimes hourly basis and as i sure does yours. certainly for my travel advance notice of my travel and other meetings to the degree that i can. commission or svinicki. spare would request the opportunity to respond for the record. i won t have any trouble doing that. at my confirmation hearing i promise to make my calendar available. i have done that from the moment i have been on the commission that i have published my calendar continuously and i have not made a practice of putting a lot of detail on my calendar. thank yo ....