chair gary gensler. we are happy to accept your questions and after chair gensler's opening remarks, i'll ask as many as time permits. mark: to submit a question online, please email headliners@press.org, and put gensler in the subject line. for our c-span and public radio audiences, please be aware that in the audience today are members of the general public. so so any applause you hear or reaction is not necessarily from working press. it is now my pleasure to introduce our distinguished head table. please stand when your name is called. starting on monday right at the far end, mark, senior editor, c-net money. next, j.d., a reporter and host at the street.com. next to j.d., con stance of con stance marks productions. next we have miriam, technology reporter, american banker. next to miriam, kimberly, host and senior washington correspondent at marketplace and my immediate predecessor as chair of the national press club board. next to kimberly, mark, a former club president and senior economic analyst

put gensler in the subject line. it c-span and public radio asaudiences, please be aware tht in the audience today are members of the general public. so any applause you hear or reaction is not necessarily from working press.to it is now my pleasure to introduce our distinguished head table, please stand when your name is called. starting on my right at the far end mark, senior editor seen the money. next jd durkin a reporter and host up the street.com. next to jd, constance marx of constance marx productions. next we have miriam cross technology reporter american pobanker. next to miriam, kimberly adams hosted senior correspondent at marketplace and my immediate predecessor as chair of the national press club board. next to kimberly, mark hamrick former club president senior economic analyst in washington bureau chief. skipping over today's speaker for a momentto but we will definitely get back to chair gensler, laurie russo president of stantonon communications and our headliners team leader. one of our headliners

chair gary gensler. [applause] mr. gensler: thank you so much, mark, for >> thank you so much, mark, for that kind introduction. i did know that you want me to talk about rob today. i instead have to start with this, as this customer e to note that my views areha my n pastor of the security and exchange commission and i must speak on behalf of my fellow commissioners or the sec staff. know iff i can add something to that disclaimer, and i speak before or by a generative artificial intelligence model. as the pandemic swept across europe and the united kingdom, -- pages are stuck together to look at that. may be the ai model did do this. is the pandemic swept across -- better we go. thank you. students packed up their books. they went home one student at trinity college in cambridge left for his remote family farm while in isolation he continued his work on physics and math. now, and talked about the 16 \60{l1}s{l0}\'60{l1}s{l0} here. and the bubonic plague period said but said that while in confinement isaac newtong con

gensler. right now, our financial system is still recovering from the sudden collapse of silicon valley bank and signature bank. our nation's affordable housing crisis is worsening. we're on the brink of a republican imposed debt default that will create unprecedented untold levels of harm to the united states and global economy. but unfortunately, today's hearing is not focused on addressing any of those looming crisis is. instead, right here this morning because the last congress, republicans threatened to do a big number on the fcc and kerrigan's letter. today is the start of them making good on that promise. this playbook is nail. many democrats and the american public. we've seen it all before. under the first consumer financial protection bureau, director, richard corduroy, the republicans worked around the clock to harass the agency with sharon vesta geisha in's, baseless subpoenas, and nonstop hearings, all in hopes of delaying or impeding the important work of the agency. this is the

chairman gensler, you have not responded to my letter. march 30, 2023, and i ask unanimous consent to submit my letter into the record without objection. i have a receipt in front of me and i know the fcc received it. can you explain why you failed to answer my letter, mr. chairman. >> there is a letter that i just thought in the last two weeks. >> it is dated march 30 2023 and i have -- >> or two and a half weeks ago. sorry. >> let me just address again the substance. >> i will reclaim my time. i expect a written response very soon and chairman again sir i am new to this committee and it may not look like it today but i sit way down on the dais. i've heard rumors and you are not particularly interested in communicating with congress. the entities the regulator just about anyone else. as you can tell by how late i have been in the speaking order for this hearing i am nowhere near one of the most senior members of congress in this room, but let me remind you that everyone on this dais represents different parts of the united states of amer

gary gensler joins us in an exclusive. that's next.his is bloomberg. ♪ >> we welcome now our bloomberg television audience and radio listeners. we are joined for an exclusive interview with the chair of the sec, gary gensler. he is here in our washington studio. thank you so much for being here. i'd like to begin with your rules that you just unveiled yesterday, putting restrictions on brokerages and money managers and the use of ai to interact with client what is your primary concern with the adoption of this technology they were trying to address? >> first, good to be with you. to tell you about this, i think the protective data analytics including artificial intelligence is the transformative technology of our times, and every bit as transformative as the internet or mass production of the automobile 100 years ago. larry trying to address? when an investment advisor or a broker works with you as an investor, they are not supposed to put their interest, the advisors interest, as an investor. we are trying to make sure that the techno

and welcome, chairman gensler. i've got lionel trilling who was an american critic and intellectual called the liberal imagination says that in american conservatism isn't so much about ideas. it is, quote, a series of irritable mental gestures that seem to represent ideas. it was true in 1950 and certainly today. to illustrate that, the head is spinning irony of where you are sitting right now is that less than three weeks ago the fdic end of the treasury were sitting in precisely those seeds in a hearing about the crumbling of the silicon valley bank and to hear the majority of the time it was all their fault. they had done too little and too slowly. never mind they had one banker on the board of directors and a zero bankers on the risk management committee that reminded the vast majority that they were on guaranteed. never mind it was their fault and i promise you when something goes wrong under your jurisdiction you will have done too little, too slowly. you've been accused of not being here. the republicans ha

later today, there will be an event with security and exchange commission chair gary gensler, who will be speaking about securities regulation as it relates to the future of artificial intelligence. that is live on c-span, c-span now, our free mobile video app and online. at c-span.org at 1:00 p.m. today. "washington journal" will be back tomorrow morning, 7:00 a.m. ♪ [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2023] >> coming up today, the u.s. house gavels in that new eastern with four bills on the adjust -- enda in requiring federal agencies right proposed rules and print plain nguage. lawmakers willote later in the week to reauthorize the aviation administration programs for the next five yes. also, to prohibitublic schools to receive federal funding from being used to house undocumented immigrants. as always, watch live coverage of the house here on c-span. securities and exchange commission chair gary gensler on securities regulation for

gensler: i'm honored. whatever. mark: before i ask the final question, let me take a moment to thank the organizers of today's events. headliners team co-leaders, dina, who is not with us today, and lori, who i introduced earlier. club membership director, kate, club events coordinator, cecile, and club executive director. i'd also like to say thank you to the kitchen staff and the wait staff. this was another delicious lunch. [applause] let me also take a moment to remind you of our upcoming headliners events. on november 5 -- [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2023] >> we're leaving this here to honor our more than 40-year commitment to live gavel to gavel coverage of congress. the house coming back in now for more member speeches. and then later this afternoon -- >> we're live on the house floor. for more coverage and more member speeches. later this afternoon, t

we know gary gensler, for whatever reason, i feel like he's been talking out of both sides of his mouthessor if it seemed like he had a whole different take on this, looked like he was more embracing of it. i don't know what went wrong, but he has become sort of like captain ahab, and crypto in general, but specifically this case feels like moby dick. >> in 2018 at mit, he said 75% of the market are commodities. all of a sudden he becomes sec chair, elizabeth warren, his pal, goes on this anti-crypto agenda, campaign and all of a sudden everything's a security except bitcoin. and he got called out today by the judge. charles: this is the legally a move that the9 se e c can move now? it all seems like there's something. >> there's always something -- charles: what are you bracing for? >> what i'm bracing for is there's going to be a jury trial with the two executives, but there's going to be appeals. but this is what gary gensler's going to do, he's either going to read the tea leaves, you've got larry fink coming out adopting crypto, and you got this ruling. that's massive news for cryp

it would get me cleared up with gensler and if gensler said to me, would you agree to make bitcoin ay answer and most of the participants in financial services would say yes. let's do that and move on and that would be a reason to own bitcoin. now, having said that it's my best performing asset this year, i'm up almost 81%. ashley: wow. fascinating stuff, kevin. thank you very much. i want to move onto consumer inflation on the national level came in at 3% in the last 12 months but inflation in the miami area, well, through the end of june was 9%. triple. senator rick scott republican from florida joins us now. great to see you, senator. in a recent tweet you quoted the borough of labor statistics saying "biden-flation costing florideans an extra $1,015 a month". explain that number. where did you get it? >> looking at since biden got elected, inflation is up 15%. that's $1,000 a month for a family in florida. i grew up in a poor family and lived in public housing. $1,000 increase for a poor family and look at what's going on. groceries are still going up. that impacts every family.

chair gary gensler was stepping down.s trending on twitter, if you could see it with the restrictions. "squawk box" will be right back. do you ever worry we'll live forever? no, it's literally never crossed my mind. what if we live to like 100? that's 35 years of being retired. i don't want to outlive our money. and i have been eating all these stupid chia seeds! i could totally live to be 100! why do i keep taking such good care of my- since we started working with empower, we're able to get all our financial questions answered, so we don't have to worry. so you never- no. never. join 17 million people and take control of your financial future to empower what's next. start today at empower.com the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com rich, velvety coffee. café quality espresso

we're talking to people with close ties to the sec, gary gensler said himself, we're likely appeal ity to get expedited appeal. you have to ask judge torres to put an expedited appeal, something called, can't say interlocutory. that's it. close, close. say it again? liz: no. >> you don't want to say it. interlocutory, this might be my very able producers spelling it out to me, ellie, what is it ellie? not here. it is kind of like that, interlocutory. if judge torres grants it, she has to grant it, then it goes right to the second circuit for appeal. if she doesn't grant it they will appeal, this thing will take a couple years. could take couple years there is another trial. remember they sent it to the courts part of this thing, this case, if you read it. i read it twice. involved garlinghouse and a guy named larson created ripple. there is some negligence factor they will try to court. right now what we have is a very muddled ruling a ruling nobody seems to think is good except for some xrp holders. they saw their price double at least, right? goes from 30 to 70. again it is off its

please join me in giving a warm national press club welcome to the chair gary gensler. [applause] thank you for that kind introduction. i didn't know that you wanted me to talk about from tom's today, but i had to start with this as is customary in the security exchange commission and on behalf of my fellow commissioners are the fcc staff, nor if i could add something to that disclaimer emi speaking for or by an artificial intelligence model? in the united kingdom -- the pages were stuck together. look at that. maybe they did do this. as the pandemic swept across, students packed up their books, they went home. one student at trinity college left for his remote family farm while in isolation he continued his work on physicshy and math. now i'm talking about the 1660s. while in confinement he contemplated gravity among other profound insights including a new form of calculus. the innovation perhaps the vein of some off your high school experiences and with journalists in the room your college experience is where your children's experiences. from the pharmacology to finan

. >> today, securities and exchange commission chair gary gensler speaks on securities regulation as it relates to the future of artificial intelligence. watch live as a group hosted by the national press club starting at 1:00 on c-span, c-span now, our free mobile video app or online at c-span.org. let's start that labor strike that just started with the hollywood actors.

. >> today, securities and exchange commission chair gary gensler speaks on securities regulation as it relates to the future of artificial intelligence. watch live as a group hosted by the national press club starting at 1:00 on c-span, c-span now, our free mobile video app or online at c-span.org. let's start that labor strike that just started with the hollywood actors. here is an article in the washington post and the headline says nation faces hot labor summer. i will scroll down and read a little bit from this article. first it was nurses and then graduate students, then elementary school workers. now it is hotel employees and tv and movie writers, and hollywood actors who walked off the job on friday. they are feeling emboldened, as they look at post-pandemic corporate profits. after a cascade of successful walkouts in southern california and beyond. let's pull up to another portion of this same article. it says, it is not just los angeles. what social media has labeled a high labor summer is all over the country. it could be adding up to a cr moment for the labor movement, wh

." >> has gensler lost that battle in terms of treating it as a security >> i would say among the --ost skeptical of people who are involved in bitcoin, regard it as a major sea change against gensler. >> they do >> yeah. and i think gary -- the chairman has obviously done a lot of things right, but this decision by a federal court really did make it so he feels like -- i feel like it's rear guard actioning. i don't want it to be, because i think he's trying to protect people >> right >> trying to pit people against a lot of bogus coins, which he quite detailed as being legitimate you and i would say they would never pass muster so i'm in the camp that gensler is trying to protect people but there's a group of people who say we don't want to lose our lead including tim masten came on "mad money" a couple times they say they don't want to lose their lead in cryptocurrencies interesting time, and not covered enough by anyone >> you mentioned antitrust, and i should have followed up. livenation was down sharply on friday this is the doj, not the ftc >> right >> and reports from politico

that's what we're talking about here >> all gary gensler wants is climate disclosure what maga republicanse your climate risks into account and you couldn't even set up a fund like hal has. right now it is maga republicans who are looking to deny the freedom to invest. that's why the congressional hearings are taking place. that's why legislation has been passed in red states across the country that -- again, that deny every investor the freedom to look and we're not only talking about climate risk, even though we have the hottest days on the planet in its modern history last year. we're talking about disclosure on things like insider trading we brought a shareholder resolution just to address insider trading at some pharmaceutical companies that would be made illegal by the kind of legislation that house allies are supporting. >> hal, it is -- it has been the hottest days on record which as you know go back to 1979, so, and it is by 1700ths of a degree celsius. we're really good at measuring now to that resolution but -- >> this is not just about -- >> is maga republican a -- that's like

is this a gary gensler problem?l, the capital rules we are talking about involve the federal reserve, and the icy, and occ -- fbi see, and occ -- fdic, and occ. our institution and the largest institutions in particular have an excellent track record identifying the risks associated with technology and mitigating those risks are not conducting those activities if they are deemed to be too high risk. and they are highly supervised along the way. matt: i just see -- you can for the ftc in their in terms of flexing regular toy muscle -- that wall street is doing a lot of this. we will have to have you want to address the broader issues because compliance costs are going to be a big part of it as well as capital. kevin fromer is the ceo of the financial services forum, a lobbying group that represents the 8 largest banks. amber, it's been interesting. markets continue to rally and we will continue to watch them with romaine bostick up next. for amber kanwar, i matt miller. this is bloomberg. ♪ me health customers survey

remind our audience about plumbing headliners event monday july 17th, secretary -- sec chair gary gensler will join us for headliners. you can get your tickets at press.org. now for the last question. >> there's always a last question. >> this is a job with huge responsibilities but is there anything you will miss? >> sure. i will miss a lot. i'm in my 44th year of service in uniform. you don't do that for the money, that's for sure. you're doing it for a sense of purpose, you're doing it out of a sense of being part of an organization that is larger than your self. i am constantly inspired and really enjoy soldiers and the various officers i direct with all the time and i will get less of that obviously in retirement. the, robbery, the sense of purpose, that may or may not be on the other side. i will try to make it on the other side so that it is still there. i don't want to ever lose that because that is been my life's work and i will continue to do that as long as i have a breath to draw. >> thank you so much for taking the time today and good luck in your retirement. [applause] [inau

desperate to do the same, but they've been turn away by the sec's bouncers, namely chief bouncer, gary genslerot things like fraud and manipulation, and late last week blackrock and nasdaq refiled naming coinbase as the sporter in of spot bit with coyne trust.. -- bitcoin trust. blackrock has a track record regulators say they find too good to reject. blackrocks' 576 etf applications, 575 have been accepted and just 1 has been rejected. i know you're all asking which one, i'll tell you later, it was in 2014 is. [laughter] as the entire sector waits and watches, joining us now is blackrock's chairman can and ceo larry fink along with charlie gas with perino. great -- gasparino. >> great to have you, larry. >> it's great to be here on a summer day. liz: and we're cool in here. >> we are. liz: i know you cannot get into specifics. but as you look at all of your track records when it comes to ishares and approvals, how do these things work out? how long does it take? and what do you think odds are of any of your etfs that you float getting accepted? >> well, we try to do what's right for the long-

later today, there will be an event with security and exchange commission chair gary gensler, who willurities regulation as it relates to the future of artificial intelligence. that is live on c-span, c-span now, our free mobile video app and online. at c-span.org at 1:00 p.m. today. "washington journal" will be back tomorrow morning, 7:00 a.m. ♪ [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2023] >> coming up today, the u.s. house gavels in that new eastern with four bills on the

[indiscernible conversations] >> monday, securities and exchange his chair at gary gensler speaks on securities regulation as it relates to the peter -- future of artificial intelligence. watch beginning at 1:00 p.m. eastern on c-span, c-span now, the free mobile video app or online at c-span.org. >> the c-span book show podcast makes it easy for you listened to all of c-span's podcasts featuring nonfiction books in one place so you can discover new authors and ideas. each week we are making it convenient for you to listen to multiple episodes with critically acclaimed authors discussing history, biographies, current events, and culture. from our signature programs about books. afterwards, book note plus. listen to the c-span bookshelf podcast need today. you can find it in all of our podcasts on the free c-span now mobile video app or wherever you get your podsts and on our website c-span.org/podcasts. >> c-span is your unfiltered government. we are funded by these television companies and more including comcast. >> are you thinking this is just a community center? no, this is more

. >> earlier today security and exchange commission chair gary gensler spoke on regulations as it relateso the future of artificial intelligence. you can watch that tonight eight eastern cspan2, c spent now the free mobile video app or online at c-span.org. next a discussion about microbial resistance with health scholars, medical advocates and executives testify before a senate health subcommittee they discuss incentives for private companies to develop new antibiotics and links between human and animal health. this is about an hour and 40 minutes. good morning. the senate health education pension subcommittee on primary health and retirementt security will come to order. thank you for joining us today for the primary health a retirement subcommittee hearing, superbugs the impact of antimicrobial resistance on modern medicine. thank you especially to ranking member marshall, to you and your staff's shared commitments to preparing for and preventing the antimicrobial resistance crisis in the united states. this is the type of partnership that drives results ultimately in congress. more th

chair gary gensler says this prohibits from engaging in a number of activities contrary to the publicto our request for comment. this is the subject of our latest delivering alpha newsletter out every other week. you can subscribe using the qr code on the screen guys >> i don't know. i don't know, leslie there are risks involved investing. the s.e.c. is going to get into the business of making sure there's no risk. i was thinking in my life. marriage gross negligence and what is the other kind >> driving a car >> the other kind? >> ordinary negligence >> there is a ton. i don't try to be negligent. i end up being negligent i don't want to be held to account. if i'm grossly negligent, then i understand that. you know, average negligence that's weird to have one word depend on what your action is as a money manager would be it sounds like it would cause people to pull in their risk horns. >> reporter: yeah. that's the concern you know, is ordinary negligence a fat finger for a trade or losing money in a falling market these things happen on a daily basis. it calls into question the over

. >> it is a question you should be asking to chair gensler, and not to me. i'm sorry, i'm going to answer the question. >> while i'm on times, he will have to answer this question in writing as well. for questions we will have to answer in writing. >> i'm sorry, the gentlelady's time is up, but it can be answered and writing. chairman greene all. >> madam secretary, you might answer, now i yield my time to you. >> on the last question? >> yes, answer now please. >> the financial stability over this council has discussed risks in connection with open end mutual funds, particularly bond mutual funds where there can essentially be runs in situations where those who move first in these open end funds are able to get better pricing than those who wait until later. and this creates a financial stability risk, similar to the kind of risk that exists with money market, mutual funds that is long been a subject of f sock attention. and the fsoc is not been involved in advising the s cc how to address those risks, but swing pricing is a way to reduce or eliminate first

gary gensler joining bloomberg at 11 a.m. eastern time. city, this is bloomberg. ♪ i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. take the first step to see if your small business qualifies. >> there is some uncertainty on the side of the customers in inflation but do not expect recession in the next quarter. i expect more growth, 45% for the automotive industry next year. many u.s. and europe and china. jonathan: the car earning so far, mercedes raising their outlook yesterday. europe at the moment not looking tremendous. germany in recession. pmi survey data you get on things like manufacturing and services we got earlier this week and the data did not look great but ecb still has inflation problem. core inflation still has a five handle. ecb wants to get that down to two. most people believe they will hike interest rates later. and 25 basis p

i've spoke to the chairman gensler once and going to speak to to him again this week about this issue is. scope three would put a heavy bookkeeping burden on our farmers. and, yes, if you're a large farmer -- which is 2% of the farming group -- you may have the office space and the specialist field to make that documentation. but you take a middle-sized, small farmer like myself, that becomes a huge burden, and you have to hire someone to do it, have consultants to help you through it, so it is tremendous. but i'll tell you this, as a farmer that sells my cattle on free market and choose where i want to to sell it to being a contract grower for a large vertically-integrated company, knowing that when things come down on that company they have to to deliver it and when they have to deliver it, they turn to me to do it. and there's no one to help record it, there's no one to help pay for it, and the farmer carries that burden whether it be cattle or whether it be grain or whether it be poultry. and so it is a tremendous burden, and it's something that we need to stop before it gets star