Committee will come to order. Today were holding a hearing to discuss a timely topic. Theres been numerous hearings on Cyber Security and how to stop the bad guys. Whats not been discussed in great detail is what the consequence will be from a massive cyber attack that brings down for example a large portion of the electrical grid for an amount of time. The purpose is to answer an important question. With respect to suber threats to the electrical power system, what consequences should the federal government tell states and local governments to prepare for . In other words, for how many people and for how long should states plan on being without power . The federal government does this now for every significant hazard that we face. Whether its a category five hurricane hitting miami or an 8. 0 earthquake in los angeles. The federal government has realist scenarios for states and cities to plan. The federal government does not have this basic planning scenario for a cyber threat to the
The electrical grid is under attack and then the power sector is all too familiar with the devastation storms like Hurricane Sandy can leave behind and the physical attacks like the 2013 incident and the sub cap station in california. 2013 incident in the substation in california. Thankfully in the cases of storms and physical attacks, the sector has strong plans in place and the systems to restore the power quickly and to avoid the loss of life and property. I am concerned about a cyber attack. Are there similar plans in place for the industry and for the state and local government . Will those provide the same types of protection . Most recently i have been discussing this topic with those in my district asking what they will do in their communities if the power is out for a long period of time. Honestly, most of them do not know because we dont know what to plan for. We have brought together the right people here to tell us today. We are also going to discuss what preparedness looks
Pablum. Dr. Derek kirk. January meeting for a view expressed resistance to the mayors directive to cut your budget by 3 over two years. It is troubling that your funding depends on the good graces of the same city hall folks that youre supposed to monitor. That inhibits your independence. If you like to sharply into city corruption your funds can be choked off because your budget is your leash. There is enough control just by having your appointments made by elected city officials. Compare your funding to that of the controllers City Services auditor program. It also was placed on the ballot and approved by the board and the voters, but its funding is a guarantee 0. 2 of the total city budget. That makes it fiscally independent from city hall. Since you are the cities ethics auditor, why is in your budget sat like this City Services auditors . So, consider a Charter Amendment to liberate the Ethics Commission. Ask for an automatic fraction of the citys total budget instead of having to
Yes, good evening commissioners and director pablum. Dr. Derek kirk. January meeting for a view expressed resistance to the mayors directive to cut your budget by 3 over two years. It is troubling that your funding depends on the good graces of the same city hall folks that youre supposed to monitor. That inhibits your independence. If you like to sharply into city corruption your funds can be choked off because your budget is your leash. There is enough control just by having your appointments made by elected city officials. Compare your funding to that of the controllers City Services auditor program. It also was placed on the ballot and approved by the board and the voters, but its funding is a guarantee 0. 2 of the total city budget. That makes it fiscally independent from city hall. Since you are the cities ethics auditor, why is in your budget sat like this City Services auditors . So, consider a Charter Amendment to liberate the Ethics Commission. Ask for an automatic fraction o
Worldwide exchange. On cnbc, im sara eisen. And im wilfred frost. Good morning to you. Lets get straight to the markets this morning. Yesterday, we saw the s p flat and the dow down. In unison by the tune of 0. 5 , 0. 6 . That equates for about 28 points for the dow. 14 points for the s p. And about 125 for the dow. Ticking down fractionally at 177 this morning. New data overnight out of china showing consumer inflation for a third month in a row, producer deflation did ease and china managed to close with a gain just barely in the green. The big move came in japan overnight, a. 2 move in the nikkei. Saying the government will intervene if the yens one sided rise they used the word intervention for the second time recently. It was a very explicit threat to the currency market to stop buying the japanese yen which actually has stopped. The last few sessions or so moderated. We saw a bigger move. A half a percent this morning. That weaker yen going a long way to help japanese stocks and