3 to be more successful than basel 1 or basel 2? >> i think that we have improved capital standards by raising the quantity and quality of capital we demand particularly of the most systemic organizations and we've designed kind of backup leverage requirements that also serve to enhance safety and soundness. >> thank you. >> time of the gentleman has expired. the chair now recognizes the gentleman from illinois, mr. foster. >> thank you, mr. chairman. as you may be aware, there is a shared enthusiasm on the part of both the chairman and myself of contingent capital instruments as a way of stabilizing the banking system. and i have got a copy of a staff memo describing the actions taken last week, the preliminary rule. and it seems to me, i haven't completely digested this, but it seems to me that you are implementing contingent capital requirements for the u.s. subsidiaries of foreign-owned ihcs. is that correct? >> what we've put in place or what we are proposing is a long-term debt requirement. i don't think i would use -- i'm not

this is a primary road between basel and -- mosul and raqqa. by seizing sinjar, we will be able to cut that line of communication, which we believe will constrict isis' ability to resupply themselves and is a --tical first step in the >> it is good to see movement there, but there are continuous airstrikes. we are bombing them with artillery from above. reporter: around 600 islamic state group militants are thought to be defending the city, which is said to be littered with landmines and explosive devices. most of the former yazidi residents fled last year to a steep -- to escape the onslaught. thousands were killed in the fighting. thousands more were trapped for weeks in the nearby mountains. yazidis have recently been returning from surrounding villages, and many have joined forces with peshmerga fighters ke theirtempt to reta city. the u.s.-led coalition has carried out dozens of airstrikes in recent weeks in preparation for the offensive. chris: for more on this, a journalist with a local network in iraqi kurdistan. what more can you tell

basel of the city of a million.atet think people under a even from a military stand point the difficulty. and then there question is what is the political side of this equation? who's going to come in and provide government? who will come in and provide the all once we've carried out this military mission. the civilian side of our efforts to we. it is not the kind of robust as it would be necessary to follow up on something that. charlie: the president said we have to do two things. isecond that we have to do in conflict between sunni and shia in iraq. return to syria. do you think it's wise, how would you handle this demand on him of america will listen partners like the always and liked her their first intention is to over row bashar al-assad power? robert: this is one of the challenges that face us in dealing with isis. that is almost everybody in the region has their own agenda. many of them whether it is the ,alaries of the turks or others isis is not the top five. impeding with iran in the case of the these th

yellen, let me first ask you about basel capital. who is it that the basel capital requirement do not recognize the exposure offsetting nature of segregated customer margins that are posted from a derivatives client? and then that goes to a bank. at the bank, they then guarantee the client's transaction with the clearinghouse. this is particularly when five years ago we, here in congress with the dodd/frank act actually encouraged more derivatives clearing as a means of reducing clients' counter-party risk. so my question is what sort of message are we sending these clients who post margin to offset this guarantee by not recognizing it as such? >> so congressman, i'm not sure that i can respond properly to your question. i may need to get back to you on that. i mean, we certainly have required higher margin requirements both initial and variation on nonclear derivatives. is your question about the capital requirements on the assets that are being held? is that -- >> yeah. i think it's sending a conflicting message to the public, part

from all the contacts you know they would not want to take basel because -- basel -- mozul? dexter: that is my impression. the americans would love it if they would. charlie: the iraqis would love it if they would. dexter: yeah. maybe they will be persuaded to do it but if you look back to went intowhen isis mozilla and western iraq, it was the iraqi army, tens of thousands of iraqi soldiers were ul when isis just walked in and the iraqi army disintegrated. charlie: they fled. dexter: they through the uniforms and ran. charlie: there is a political thetion obviously from when previous iraqi government was in power. now you have a new prime minister who talks a different story. this is a political issue and everybody says they somehow have to rally the sunnis to be willing to fight against isis in order to have a chance. i think they have to rally the sunnis. that hasn't happened yet. charlie: they still aren't convinced -- dexter: the shia government will instance you take for -- isis is old and around. despite all of these airstrikes, they still have ramadi. the whole area

basel khedr/ hotel manager "and it isisot just about the guys that work for me it's about all the staff and all the people who support the tourism industry indirectly whether they be suppliers, transportation, insurance companies, you name it." the drop in business worries the hotel manager. he fears that he might not be able to pay his 550 employees. britain resumed flights on friday... to let vacationers returnrnome. a night out on the town with a significant other can get pricey. but, as ktiv's sam curtiss tells us, some northeat nebraska law enforcement and ems personnel had their tab picked up for them. << saturday night in nebraska. you could find most of dakota county's emergency personnel in one spot. mingling over food, drinks and the huskers game. "we've been doing this for over 25 years," said rick bosquet. the south sioux city knights of columbus bringing law enforcement and ems staff together. all agencies in the county were invited. even mercy aircare flew in. guided by pat moore, a 36- year vet with dakota city fire and rescue. "i thought i'd try it for a couple years," s

. >> i am a specialist kelly at i am from basel new jersey and i want to wish my family and friends a happy catch holiday-cookie cheer on the tip of your tongue cookie-flavored coffees. enjoy any medium latte or macchiato for $1.99. dunkin's new sweet black pepper bacon sandwich, with double the slices of caramelized crispy pepper bacon. it's the bacon experience you've been waiting for. bacon up. america runs on dunkin'. >> it's a given that most of us will be overeating on thanksgiving but are we also over sharing on social media? please send baruch shemtov to find out why so many people feel compelled to send pictures of their holiday meal today. reporter: thanksgiving is one of the most popular days an instagram but what do the turkey photo essay about us quick social media scenes are clogged with photos like these. a sea of base turkey enjoyed by everyday families and celebrities alike. in outer space astronaut shared their dehydrated tastes. do you think these look appetizing? this is what people are posting on social media. >> they should know better. reporter: do you think the

trump's idea of the bombing basel, you don't do that. you need ground troops.eeds to be an international fighting force. in the case of iraq, it would be the iraqi military along with sunni tribal leaders and the kurds. we would be partners in that. mark: i this point would you say targets would have to be hit, even though there is more risk of civilian counsel these? -- civilian casualties? jeb: my position has not changed. this is where, and we need to treat it as war. jeb: you don't go out of your way to kill innocents. this administration has not viewed it -- they view it as a law enforcement exercise. that is not the attitude that you need to be successful. mark: one more time -- civilian casualties are just part of war? jeb: of course they are mark. has there been any other time in history? it's not a videogame. this is why is a serious endeavor when you are inspiring to be president of the united states to send men and women in harm's way. it's a serious undertaking. you have to do it recognizing that we want to win. and do so in a way that allows for a

you talk to analysts and they will say, excuse me, history did not start when basel was abated was014- when mosul invaded in 2013. 4. you want to talk about why the sunni population radicalized or allowed groups like all nusra and isis to come in? it is because of this. roger is right. the consequences that we said would be of intervention happened as a direct result of nonintervention. french fighter just -- french fried or jets into damascus, and and kerry calls hollande says we have to do a patent was doing. and the sunnis look at the united states and now -- bernard-henri: the day was august 29 of 2013. the same day, the american president said, the red line is crossed, we have to act. at the end of the day, he came on tv and said, i change my mind, we have to ask congress and such. it is true that isis and bashar assad are twins. that look like each other, but they are twins. don't look -- they like each other, but they are twins. bashar assad eliminated from jail all the radical islamists who are today making up the fighters, and number two, we did not intervene there. the reaso

first president to serious lay dress climate change and with the terrorist attack hanging over him to basel's point, a few weeks ago bernie sanders tied terrorism to climate change and was laughed off the stage by many republicans. that's a hard needle for the president to thread and serious protesters who feel they're being shut down for securityi reasons and unable to talk about issues. >> with the president having to communicate not only to the 140 leaders but also to the world and then to the united states and the electorate and those in the house, right and those who lead the states, who have to ratify these as they go forward. i think there's a couple dozen states that are suing the president. we're not following some of your initial climate change moves. >> right, he has a whole host of things on his plate. he has to figure out when he gets back to the state what is most important. he has to consider the fact that you've got state pushback own whether to allow refugees to come into their states and that's a human issue for him and then 80 huge issues. where does this ball in terms of t

lyondell basell. >> good company. mike in arizona. mike, mike. >> caller: yes, boeing aircraft? is that a buy, sell, or hold? >> which one? boeing? boeing is a buy. i know boeing has been tough slogging of late but the aerospace thesis has not slowed down and the defense thesis has kicked in. dick in california. dick? >> caller: hey, jim, many months ago you thought highly of via systems. now they've just established a new bottom. what's your view? >> it's cloud based. i had to pull in on cloud based. but salesforce.com encourages me. let's go to joseph in virginia. joe they have? >> caller: jim it's a pleasure speaking with you. >> same. >> caller: i'd like to quote a line from the great movie "jerry maguire." jim, you're my ambassador of kwan. >> really? geez, not bad, huh? i'm going to tell the wife that. she doesn't think i'm kwan-like at all. go ahead. >> my question is, i'm interesting in buying tesla motors. >> that's a cold stock. if you like the car and you believe in eli musk you buy it. otherwise i can't find a metric that makes me want to mem that stock on a business

. >> well, this is partly why we participate in international groups like the iais or the b basel board> how would you measure success in this approach? do you think what you're doing is working now? because we haven't seen the measured success we'd like to see in terms of being able to attract companies that want to stay onshore. >> i think we have seen success that we have a much safer and sounder financial system and other countries are also raising the standards that they apply to their large banking -- >> thank you, my time has expir expired. >> the chair recognizes the gentleman from minnesota, mr. ellison. >> i thank the ranking member and the chairman. thank you for being here, chairman yellen, really appreciate it. you know, we had this big debate yesterday and the votes today on whether or not the $50 billion designation is, you know, the right metric for the designation. i'm sympathetic to changing it but i didn't vote for either one of those proposals because i feel after there's a big crash, then we regulate. and then before the ink is dry we're all trying to change it sudd

sunday night to tuesday afternoon right after art basel in palm beach. >> you need more people to come want people to know about it. >> we'd like some more people to come. like we talked about earlier. i hope this san exercise in buying insurance. i hope a new president is elected and the democratic ideas will all come forward and we get ideas from everyone. less regulation and pro-growth policy. good paying jobs. i think that what we're trying to come up with an alternative just in case, if my hunch is right, that artificial intelligence and robotics and software and globalization are going to continue to destroy good paying jobs. >> what's your hunch on the stock market right now? >> you know, i think the stock market is probably -- i'm not is super bullish or super bearish. interest rates are going to grow modestly. i think they're going to do a modest increase to show the 0 has to come to an end but it's going to be a quarter point. i think stocks will, in general, do well. i would be surprised if you see more than a 5% or 10% swing in either direction. >> is the house open in febr

i think a lot of us would argue that the liquidity issue has arisen with volcker and basel and all the rules and regulations that have come to pass. and i don't know if you don't want to share your personal opinion because it might be contrary to the position of fsoc. i get that -- >> no, it's not that. i really do, you know, bore into this with our own taffe too because one thing we do for every single rulemaking we do is try to judge those impacts. >> i would agree there's people on the outside per the questions by the chairman have some significant disagreement. i want to go to -- i only have a little bit of time left. i want to make just a quick comment in regard to the corporate political spending. obviously, i get a lot of letters as well. i know that people rally folks up around the country whether they're on the right or the left to send me letters. i'm sure you get the same and you know where those letters come from, there's a political agenda. but for a corporate political spending disclosure, would that protect investors? if you did a rule to that effect? would that be mater

of liquidity in the corporate bond market due to regulatory initiatives like the volcker rule and basel>> i don't think phrased that way. the four or five of us who report quarterly to this committee do that kind of assessment at least in terms of the volcker rule. >> as you know, the chairman reached out to you at the beginning of the year for a status update on a number of initiatives that are designed to facilitate capital formation and ensure that the u.s. capital markets remain the leader rather than focusing on politically divisive issues. for example, the chairman asked for the status of potential s.e.c. rules regarding transfer agents. this topic is of interest to me because the rules have not been updated since the 1980s. i also think it is a rare occurrence when you have bipartisan support within the s.e.c. given that former commissioner gallagher and current commissioner aguilar their statement in june of this year. in february, 2015, you stated in your response letter to the chairman that the s.e.c. staff is considering recommendations. i would like to follow-up with the cha

would reiterate the point earlier that prescription drugs are one piece of that health care costs basel've seen it in our polling with similar shared things that deductibles and premiums are burdens for the muzzle. >> not just on the drug site. marc? >> drive innovation, balance appropriate access that is aligned with patient goals and preferences and personal circumstances. and i would emphasize a point i don't think has been stressed your we have to fund our biomedical research enterprise at nih. our regular toward science at fda, our comparative effectiveness research, our patient centered outcomes research, here we are at a point in time where we are driving patients into consumers. they are now looking at the world in a very different way. technology is disrupting it. we need information so that people can make informed decisions and take the treatments that are correct for them. that is a very different environment that we are shifting to. >> and heather, last word to you've spent i think i will just tell that something one of the panel said earlier. innovation is meaningless if n