thank you chairman clayton. again thanks for the service that you have given to us as the chairman of the sec. as i remarked and the opening statement i am amazed by the rules that you are able to improve in your ten years as chairman. your regular career continues to be ambitious. in your marks there's not much work that needs to be done. other areas where you think that the sec should continue to focus on areas where you think that congress should take a closer look at the statute? >> senator let me take off a few -- first corporate hygiene i think in the pandemic and the stress we have seen areas where corporate hygiene could be better. we could remove any uncertainty that corporations are operating with rigorous governments, and transparency, if you could be -- pressing, and when i called information gap. i think that these are things that my views and this area are things that most good corporations follow. but the formation out. there had discussions with members of congress. i think that's an area that we

chair clayton: sure.nytime you have a new informational environment, and certainly covid has created one across many companies, and cooling -- many companies, including pharmaceutical companies, you have a much greater risk that there is an asymmetry of information between insiders and the market generally. in those situations, companies need to up their game, up there controls to ensure that no one is taking advantage of or even be perceived to be taking advantage of that kind of information asymmetry. we have been very vocal about this. follow your internal procedures. have your checks with your general counsel's office on whether it is appropriate to be selling stock. and ask, does this look right or not? we will get through this, i believe. if you are in it for the long term -- i'm not telling people you have to -- but think about staying for the long-term. david: i want to look forward on some things that will come up after you have left office. one is in the area of esg. you have spoken out, saying

ptc did look at the whasap and instagram mergers, but the clayton act does not have a time limit.en when an enforcer is looking at a merger, they are making guesses about the future. they might not have the evidence about that time, but they have the evidence now. of facebook's defenses that they put out there was the idea that --. the clayton act, if there wasn't anything there to be applied at the time, why would there be something there to apply in the future? sally: i think these murders were illegal at the time, and the ftc did not see the evidence , did not have enough evidence at that time from its view to block the deal. the evidence is now abundantly clear, that they were illegal. they did tend to create a monopoly and substantially lessen competition. the other important thing to remember is that the sherman act prohibits illegal monopolization. what the states and the ftc are arguing, there was a pattern of these paid acquisitions combined so an illegalata, monopolization over a course of several years. it is not just looking at independent mergers, but patterns of mono

mother took small jobs in clayton, but it was just not enough.nd so it was very difficult for her. and she did the best she could. but there were sometimes, he was without.t did but she did the very best she could. susan: did you have a sense as a child of being poor? ms. kennedy: no, because my mother just had a way about her that made you feel that you are loved, and she comforted you in such a way that, no, you did not feel that way, even though you didn't have anything to eat. she still comforted you, and you felt like you had everything. that was just the way she was. susan: how many brothers and sisters do you have? ms. kennedy: i have two sisters, one is deceased, and i have one brother. susan: and where were you in the lineup? ms. kennedy: i was the second. susan: our next piece of video is from the 1958 governor's race. you write in the book that that is what changed everything for your father's political career and your family life. let's watch. [video clip] >> it is a pleasure always to come back to mobile, alabama. i feel very close t

so jay clayton resigned. clayton was essentially 3-2 republicans/democrats. clayton resigned now 2-2, roisman, one of the two republican commissioners is now acting chairman. it is 2-2 and we need another person, a permanent chairman that will happen down the line but i wouldn't hold my breath and expecting somebody immediately. there is a lot of other fish to fry for the biden administration in terms of appointments so it is quite possible this might be several months. nonetheless, this very interesting things going on already in terms of what we might be able to see from the biden administration in 2021 in terms of market enforcement, market regulation, there is an awful lot of noise, awful lot around climate change. and the s.e.c., there is noises being made that the s.e.c. should be calling around the companies and asking them what policies do you have in effect for climate change this is controversial because is that really within the s.e.c.'s mandate. remember, the mandate here is -- the s.e.c. is capital formation, fair and orderly markets, and investo

and make , clayton, your high school and your family proud. thank you, mr. speaker, and i yield back the balance of my time. tempore: the o chair recognizes the gentleman from new york, mr. rose, for five minutes. mr. rose: mr. speaker, this may time i get to address this hallowed chamber and for that i thank you for opportunity. i want to start by thanking my staff. t may come as a surprise to some of my colleagues as well as the press, but i do have some flaws. with me for two years. some of them even longer. me, we ther we, not accomplished an extraordinary the great people of southern brooklyn and staten island. pursue new o adventures, i want to part, though, with a few words of country for our great as well as a warning. tough time for truth. and it's causing faith in our co-rode.nt to there's -- corrode. sitting ot a person here right now who thinks the american people believe in our government. this didn't happen overnight. death by a thousand disappointments, a thousand thousand lies broken by politicians who mock a virus neighbor.ills their who car

chairman jay clayton after the break.out the move in the stock, ipo investors, and retail investors. before we head to the break, let's check out the futures. the dow was dounwn, the nasdaq t a record dow indicated up by 125 points, the nasdaq and s&p if they were to open at these levels would be setting intraday record highs. stick around "squawk box" will be right back. in a land not so far away, people are saving hundreds on the most reliable network with xfinity mobile. they can choose from the latest phones or bring their own. and choose the data option that's right for them. they even get nationwide 5g at no extra cost. and since they are on the carrier rated #1 in customer satisfation, they live happily ever after. again, again! xfinity mobile. your wireless. your rules. your way to stay closer together. click, call, or visit an xfinity store today. >>> welcome back to "squawk box" this morning, chinese ecommerce company, wunong net technology making it public debut on wednesday, and guess what, it closed up 440% t

and one of the things that helped ease my time up here was the introduction provided by clayton th m

state antitrust laws, and have the power to enforce the federal ones like the sherman act and the clayton act i mentioned before. they get confused about who gets what type of case. it's just a matter of resources in specializations. there's not an incredibly clear station between which goes to which agency. there are a few different ways they go about beginning enforcement, doing enforcement antitrust laws. there is the merger context with large corporations have notify the federal agencies when they're going to acquire the company of a certain size. there is a certain amount of time that the agencies have to look at that merger pretty quickly and decide whether or not they are going to take a deeper look, which is called the second request, and get more documents and investigate it, whether they would just let the deal go through. if they do the second request, then to ask more documents. they do interviews and whatnot, and then they will decide whether or not to block the case, to block the deal. fortunately, they don't just have unilateral ability to say okay, we have investigated thi

instead of toys a man in clayton is giving a gift to help children succeed.t introduced you to 80-year-oldless. he's handy and his wife suggests he builds desks for children now learning at home. tonight he showed his work. he has 50 more desks under construction. students say they appreciate his effort. >> i just wanted to show you guys my new desk that was made by les. i'm very grateful for that. thank you, les. >> each desk costs about $65 in materials. a gofundme account has raised nearly $14,000 to help cover the costs and allow les to keep building desks. what a nice man to do that. >> absolutely, giving his time, his skill and a lot of kids need it because this has been a curveball for so many of us. >> it has indeed. let's talk a little bit about the weather forecast inching a little closer to the weekend. >> hi sandhya. >> yeah, and it is -- hi. it is looking fantastic. i was just so moved by that story. it's such a nice guy to do that, especially since kids definitely need those desks doing school from home. many of them. i want to show you a beauti

part of the reason we don't is because only as of last tuesday or wednesday really could fulton and clayton put any new registrations in because they were involved in the large runoffs. reporter: in the suit that the trump campaign filed -- do you know ] -- what they're talking about and what's your response to that -- [indiscernible] -- >> no, i have no idea what they're talking about but they need to present their evidence if they're making that kind of claim. reporter: you mentioned the role of the g.b.i. what will their role be in helping secretary of state investigators -- [indiscernible] -- >> the main role they would have is they have expertise in the hand writing so they would be a big part of the 250, i think it was 18 and i could be wrong, i think it was 18 cases having to do with absentee ballot handling. so that would be the main thing. i don't know the man power that they're going to be throwing at the whole thing for all the other cases. the 250 cases is all of 2020 that are still open from november on it's a lower number, a subset. i'll try to get that number to you all. i kn

instead of toys a man in clayton is giving a gift to help children succeed. we first introduced you to 80-year-oldless. he's handy and his wife suggests he builds desks for children now learning at home. tonight he showed his work. he has 50 more desks under construction. students say they appreciate his effort. >> i just wanted to show you guys my new desk that was made by les. i'm very grateful for that. thank you, les. >> each desk costs about $65 in materials. a gofundme account has raised nearly $14,000 to help cover the costs and allow les to keep building desks. what a nice man to do that. >> absolutely, giving his time, his skill and a lot of kids need it because this has been a curveball for so many of us. >> it has indeed. let's talk a little bit about the weather forecast inching a little closer to the weekend. >> hi sandhya. >> yeah, and it is -- hi. it is looking fantastic. i was just so moved by that story. it's such a nice guy to do that, especially since kids definitely need those desks doing school from home. many of them. i want to show you

our north america technology correspondent james clayton is following the story in san francisco.xpect a break—up of facebook any time soon. so, we knew that this announcement was coming up. i think few people realise just how punchy this was going to be. although there has been a lot said about antitrust and how these companies are too big, what is so kind of extraordinary about this is just what they are proposing here. this is the federal trade commission proposing to split up commission proposing to split up facebook, to grieve off whatsapp, to grieve off instagram, and the reason for thatis instagram, and the reason for that is because what they say is when facebook in 2012 was looking at the competition, surveying the competition, they saw instagram as a threat as a competitor, and rather trying to compete with instagram, they bought the competition. and in 2014, when whatsapp came along, these are whatsapp as a threat to facebook messaging —— they saw whatsapp as a threat to facebook messaging and what the competition. that was approved at the time. but the federal trade co

competition is part of our market economy, but the laws are very clear, including the sherman act and clayton act, federal laws that make clear that there are certain anticompetitive actions that are illegal, and that is what we are addressing here. emily: you mentioned mark zuckerberg. i am curious, do you think google is more egregious than certain other big tech giants like facebook and amazon? there is an irony that you have the government scrutinizing these companies and get these companies fighting each other as the competition. >> i am not going to write. -- rank. we have some very big tech giants on here, two of whom we believe have engaged in for far too long illegal and anticompetitive practices. we want to make sure we make that right for our economy, for innovation, and for the public. question on at slightly different topic. we note now that russian state actors are behind this massive hock through a company called -- variouson a very u.s. government agencies. what is your take on what we know so far? there seems to be some indication that what exactly happened is quite alarming.

adam clayton powell, the congressman from harlem, he would be in their and he would come in there with two beautiful women, sitting right up front and i am joking about powell and people did not know he was sitting there. that's powell, that a rascal. it was a lot of fun. it would get wild, because it was so late, but i was there for 20 years, 20 years. great years. gordon: joke, what were the things i noticed on the hill. it was kind of empty. bers ago it would republicans and democrats sitting together, having lunch, having a great time. we seem to have lost that. joe: i think there are a lot of reasons for that. there is more than takes place than you know. i always enjoyed being there. i thought it was a great place to dine with folks and experience the full experience of the capital, but i think tip airplane killed congress. people are not in washington, d.c. anymore. shuttle back to new york city. the expectation is you will be back home. tore are a number of issues be thought of. regardless ofis political party, i am always attracted to people who have that wit, that humor, that

so you have longtime african-american democrats in congress like adam clayton powell, who served in new york, in harlem, and charles banks in detroit, etc. so there is two democratic parties, and the african-american politicians in the democratic party are pro-civil rights, supporting civil rights. the republican party more of a mixed bag. you have certainly anti-civil rights and anti-segregation -- and pro-segregation republicans, well, there are no republicans in the south, basically. the south is a one-party political system dominated by democrats under white supremacy, -- stan: and for all intents and purposes are white conservatives. professor gaines there are white : southern democrats who did support fdr's new deal reform legislation. they supported social security, but their support was conditioned on their ability to administer social security in discriminatory way. so what happened was, one of the mississippi congressmen who was influential in drafting social security legislation basically struck from all the occupations eligible for social security benefits agricultural worke

clayton's not truly husic affects us from a very early age even in the womb because i don't think it's all there been tests involving say a mother to be who likes watching a particular t.v. soap opera in one todd gun an obsession to see only a shower and pushed into soap and the amounts the child has been born they actually exhibit a preference for the music in that series because they're already familiar with us enjoy him for all of this. is the soothing effect of the melody from a music box or were toys suddenly to talk liz having learned that it's coming from the emotions that it triggers big spanked by something in the music itself to me. it's a question that led to a festive frets to visit the math for people and the remote daryn. terms of commentary. about of intimacy. what interested me was looking at the people they're grown up with no exposure to western music. and if they were then played say some piece of music from europe or north america with the stereotypical sound that we would call happy sad or scary would they still be able to gauge that same emotional expression just

david: jay clayton. >> the culture of investing for the long-term is something we need to foster acrossure. david: former house majority leader eric cantor. catherine baker of the university of chicago. >>

happening today if you're going to be heading out for a run this morning in the east bay let's check out clayton because we're starting out in the 30s. here you do need some extra layers. you're going to be feeling much better into the noon hour so maybe a lunch time jog will feel better for you. we'll talk about what's ahead in the forecast coming up. mike, what's going on right now for the commute? >> kari, a follow-up on what laura told you about the investigation and the reason why it'll probably be closed skyline between 92 and quail court, the ongoing investigation probably needs sun light to check for more investigation, following the investigation of a body found there. use wood side and travel north on 35. just an option for you. that section will remain closed until further notice. the rest of the bay, those highways and freeways moving smoothly. a little slowing starts in the tri-valley. keep that in mind as you're looking at a little bit of different speeds for highway 84 through livermore. back to you. >> thank you very much, mike. it is 5:10. another blow for many businesses strugg

coming up, an exclusive interview with jay clayton on "balance of power" with david westin on bloombergion and radio. this is bloomberg. ♪ the usual gifts are just not going to cut it. we have to find something else. good luck! what does that mean? we are doomed. [laughter] that's it. i figured it out! we're going to give togetherness. that sounds dumb. we're going to take all those family moments and package them. hmm. [laughing] that works. wannit's timeight and for aerotrainer. a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com. ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of polit

we didn't know at the time that people like adam clayton powell were trying to strong-arm the march organizerso have a more impressive presence. he thought he deserved it. outing aanning on closeted gay man if he was not able to have a really good place of the march. that didn't make the papers. about johne stuff lewis makes the papers after the march if i recall correctly. that was because it was so last-minute. it literally could not make deadlines. john lewis a speech, which was objected to by a large number of the more moderate speech organizers because he said things like were going to lead this march and go back to the south and marched through it like sherman did. sherman led a devastating march through the for the purpose of inflicting pain on the home front so that metaphor didn't go well with some of the more moderate members of the committee. that didn't make the papers. would a question like kennedy meet with the march organizers? like that. >> thank you so much to you both. erica is going to come back in here. yes, thank you guys. thank you to edith lee pain. thank you george musg

anddid that for a while, she was on a path that might what adamher one of clayton powell used the call the society,who ran harlem were always in the newspaper at this paper or gala. that was the path she was on, and evidently, it scared her. that wasn't the life she wanted. she could have gone on writing and stayed on that path. she published a lot of short stories and essays, but who knows how that would've worked out. she decided to go to law school. she went to fordham law school. when you look at law schools at the time, most of the big law schools only admitted to men, and quite a few of them had a colored bar. the catholic law schools, the women's law schools. i know some of you have heard .hat term created at the time to give you one example, the catholic law schools were generally coeducational, and they had a particular mission to immigrants, people of color, and the jewish students, most of whom could not get into law schools without restrictions. history, yout the will find them replete with lawyers who couldn't go elsewhere. i don't know if eunice could have gone elsewhere,

jay clayton, leaving the s.e.c. >> s&p is up .5% and nasdaq .1%. 2000 among the leader, average up 1%. disney, let's talk about them, shall we one of the best performers for the month, tyler getting an upgrade from rosenblatt, naming it its top pick that it will benefit from its strong pipeline of new and original content from disney plus, such a huge story for this year, tyler, of course, and if we do start to see the vaccines funnel through, that people will return to parks. >> there is no power lunch tomorrow it's a shortened holiday session of the we won't be here. i'm off next week. rahel and to all the viewers, have a wonderful holiday and new year thanks for watching. "closing bell" right now. >> thank you, rahel and tyler. i'm sarah isen with taylor in for wilfred frost again. one hour left of trade stocks shrugging off that new drama as a new wrench in the stimulus bill from congress. ttek ly jobless claims were

. >>> he might not be can't ta claus santa claus, instead of toys a man in clayton is giving a gift tokids succeed. we introduced you to 80-year-old les and this was back in october. he is pretty handy. his wife suggested that maybe he should build desks for deserving kids who have to do learning at home. so he did. he kept building and building. last night he showed his work to a national audience on abc's "world news." he already has 50 more desks under construction. students say they really appreciate his effort. >> i just want to show you guys my desk, my new desk that was made by les. i'm grateful for it. thank you, les. >> so each of these desks costs about 65 bucks in materials, a gofundme account raised nearly $14,000 to cover the costs. >> i love this. >> really nice desk. >> it is nice. >> how kind of him to use his skills. >> i remember when we first showed that story. i'm glad that he got some national attention. he totally deserves it. way to go. come on, les. >> desk for kids by grandpa. that's the name of it. that's cute. >> he's got tools and he's got skills. i apprecia

we just learned the head of the s.e.c., jake clayton, informed president trump that today will be his last day on the job over at the s.e.c. liz? liz: wow! i would say that's news. i would also say to senator rand paul, try telling those people, the 30 million people who are begging for help when it comes to either having lost their job or diminished work hours that this is an egg-headed move to offer people more money. i mean, americans are hurting, blake. surprised he said that. reporter: yeah. i mean, we have seen the unemployment numbers and we have seen them, you know, getting to 14% at one point, the tens of millions of americans who have lost income and there's a lot of hurt in this country, and $600 would help a lot of people, and that is the argument as to why this needs to get out and get out quick and why this shouldn't have been held up and shouldn't continue to be held up, but the argument that some republicans are making is the national debt, $27.5 trillion, and they believe we can't continue to spend. liz: yeah. well, i think the president is a registered republican and

the voters that we've been talking to, we were out yesterday in douglas county and clayton county, ande were talking to understood the gravity of it. that normally you see an extreme drop-off in a runoff election. you're seeing a number comparable to a general election or presidential election. that in itself is unheard of. so people understand the gravity. but not just as it relates to the importance for the nation, but the importance for georgia. georgia is a state that was impacted by covid-19 and has been 4 million people in the state of georgia applied for unemployment. when you're looking at how disproportionately the african-american community has been impacted by covid-19 at the height of covid-19 in april, 80% of all hospitalizations in the state were african-americans. as we're going out talking to people, people are very clear that this election is key and centered not just for the nation, not just for the democrat and republican parties but for the people of georgia. and because we have been impacted by covid-19 and the lack of leadership that what we're -- when we're talki

clayton tune to christian trahan, 26 yards. he was wide open. seven--point game.ff, hawaii gets all those points back. i saw larry tweeting about this game. so he was watching. calvin turner makes some moves and says aloha. that's for you, larry. 92 yards to the house. hawaii win, 28-14. >>>, did you see this earlier this week? 49ers spreading holiday cheer to families in fremont for the habitat for humanity east bay and central commons neighborhood. the bags were full of grocery and gas and gift cards along with electronics. sour dough sam was masked up. look at this youngster. got to start them young. since 2018, the program has provided affordable housing and mortgages that is for 30 families. pizza, fun, sour dough sam showing up to your door playing santa, there is nothing much better than that. i love what all of our teams do providing holiday cheer and giving back to the communities that so support them. >> oh, we lost your mic there, chris. hang on. let's see if we can get it back. our local teams, one of the most wonderful things about all of our local te

they did you dirty in "michael clayton," t! colonial times i'm just assuming they didn't use clocks don't correct me it's "a closer look," it's not school anyway, the people claiming now that counting votes the morning after an election is somehow a scandal are just bad faith, soulless ghouls. they all claim to be traditionalists, or originalists, or whatever ridiculous euphemisms they want to use for being anti-democratic reactionaries. when the constitution was written, it took weeks to count all the ballots. that's why the electoral college meets in december and the inauguration was originally in march. hell, it probably took weeks just to fill out the ballot because you had to use a quill and inkwell. on the other hand, the calligraphy was beautiful. again, i know nothing about colonial times except what i learned from "john adams," which holds up highly recommend if you want to call yourself a traditionalist or originalist or whatever the hell republicans call themselves, then you have to own that, but when the rubber his

. >>> chair jay clayton testified before the senate banking, housing and urban committee about oversight and talked about digital currency and shareholder protections.

granted, there's only two months left or less than two months left in the trump s.e.c., but jay clayton company are probably not going to take this up. this will be something that the biden s.e.c. will take up and would probably, if you listen to the rhetoric, approve. the problem that they have right now, we should point out that the nasdaq has told us their general counsel reviewed every single document, including the press release, on whether this thing is constitutional, by the u.s. constitution which, by the way, is ruled against, supreme court has ruled against quotas. that doesn't mean you can't have broad goals, but quotas, as this thing suggests is generally unconstitutional. but we have heard from other constitutional experts that this could be a problem. i want to read you a quote from our very own judge andrew napolitano, who it's great to have a constitutional expert who is a phone call away. here's what he told lydia moynihan, my producer. nasdaq cannot use government power to compel membership on a board of directors and they cannot use government power to compel speech.

2022 cleveland had already removed images of its mascot chief wahoo 2 years ago when the news from clayton prompted u.s. president donald trump to tweet calling it cancel culture at work but it follows growing pressure to remove native american names from u.s. sports teams earlier this year and officials washington football team stopped choosing a name and logo long considered a racial slur but others have been slow to follow super bowl champions the kansas city chiefs have been accused of perpetuating negative stereotypes with fire. and dressing in native american costumes and performing the tomahawk chop games the chiefs haven't officially responded to the criticism that tomahawk chop is also common atlanta braves baseball games team released a statement in july saying they've been working with the native american community but changing the name was not deemed necessary and ice hockey chicago blackhawks say they have no plans to change their name there also dozens of college and high school teams which unnamed off to native american tribes tributes are being paid to form a liverpool mana

isaiah garza game friends with robin clayton.or more than ten years and he wanted to help. so garza set up a gofundme campaign that has raised more than $50,000. the money will pay for a two-year apartment lease, food, furniture, a car and health care. >> this is a long-term process that i'm really putting a lot of energy into. i don't want her to, like i said, in two years to be over. i want this to be 10 years, 20 years, 30 years where she can become her own activist. >> garza tells cbs this morning he plans to help her start a clothing business so she can support herself and help others. >> he grew up really poor and went into jewelry design and designs for cardi b. and others. >> we've done so many stories this week about people going above and beyond. the world doesn't live on twitter and social media, when you see all that garbage and animosity that happens on social media, . >>> good morning. people are rushing to get tested for coronavirus before the holidays. long lines making another appearance and sfo seeing a steady s

say we, i mean, "squawk box" and the man who sits in this chair andrew sorkin talked to chairman claytonbout ipos and this one particularly listen to what he had to say >> there are more retail investors participating in the market than ever before. and we're seeing that. and one thing that we don't regulate directly, andrew, is euphoria and we're seeing some euphoria here i heard other guests talk about euphoria you know, when stocks run away, like the ones you mentioned, we do get concerned because it is a situation where professional investors understand this, i do worry that retail investors, you know, do not understand that trees don't grow to the sky. >> kind of sounds like some of the things you've been saying, jim. >> but, david, that's not -- this is not euphoria this is not euphoria this is broken something is broken. we want the s.e.c. to look into anything that is broken, we got to figure out that this wasn't euphoria, this was just something that is simply -- it is like going to a store, and seeing something marked up big and hoping you can buy it and return it for more mone

clayton georgia. >> future victims. >> yes, sir. >> future victims which included some of the names and had clutched in his hands. >> we found thousands upon thousands of photographs on sd cards of some of these houses, elections, people. >> reporter: they weren't just future targets. they also found a target they knew very well, brooke lions. >> these targeting packettes that they have are of a quality i could use for a hit. >> or execute a search warrant or anything else. >> in talking to withham the agents found why they never found physical evidence new york dna, finger prints or fibers. he and bennanty made sure not to leave a trace behind. >> withham even shaved his body. >> while surveilling, he brought a jug with him. >> he relieves himself in the jugs so he doesn't break surveillance and doesn't leave any dna behind. >> now, even with the two men in custody the feds didn't know how many others were involved. who was the african-american man and the woman the ziglers described? was there anyone else involved. >> three, four, five, six people? are we looking for two? what are the

the clayton sec, trump sec probably won't approve it, just punt it. will approve it, likely approve it, that is my read speaking with people but this thing will get some scrutiny before that happens because if you read the document, not saying the press release, read the exact document which i'm three quarters of the way through, not exactly easy reading there, neil, you find some very fascinating, somewhat hypocritical things on this, in this proposal which basically says that you have to, essentially have to have a diverse board of one or two members of minority groups, women, lbgtq, and then there is a matrix. if you don't meet those qualifications after you disclosing it, the nasdaq could delist you. so i went through this and then i spoke with some people at the nasdaq. fascinating that nasdaq does not reveal in either the press release or proposal itself, the vast majority of listed companies, number on saying, background is 3/4 would fail the diversity test. you would assume that nasdaq is running sort of a sexist operation because so many of i

we are even going to have a more efficient capital market i think it is awesome that commissioner clayton this on his way out the door i think it will be a lasting legacy for him >> well, on the point about more official capital -- efficient capital markets imlooking at a stock price of slack which was one of the poster children for the direct listing didn't get back to its direct listing price until salesforce bought it. is that really the best way. >> is that -- let's look at it scientifically rather than looking at a one-off data point. if you looked at jay ritter's data, you can see that this underpricing has been happening for 40 years so that's looking at all of the ones that go up, go down, everything else. clearly, there are traditional ipos that have broke issue would you blame those on the ipo process? i think how you dip publget pubd what your stock does after you are public are two different thing. >> how would you characterize the doordash and airbnb ipos and opening pops what words would you use to describe those two events. >> it is outlandish. like the process -- the ipo p

chairman jay clayton waved a warning flag right here on "squawk box." >> there are more retail investorse're seeing that, and one thing we don't regulate directly is euphoria, and we're seeing some euphoria here. >> henry blodget, insider inc., ceo, and former top tech analyst. do you have good ears, have you ever heard of bell at the top of something? are you picking up anything like that, any type of tinkling that you're hearing anywhere? >> i think s.e.c. chairman got it right that there's some euphoria, i don't think it's completely widespread. it is not 1999 but boy in certain areas like the ones you just listed, it's extraordinary to watch what's happening. i'm going to leave the day-to-day calls on the stocks and movements and so forth to so many of the experts you have on. the one thing i would give you from perspective of living through the .com bubble and housing bubble is three things, one, it can last a lot longer than you think two, it can go a lot higher than you think, and then three, the crash can be a lot worse than you think. so as long as everybody keeps that in mind a

they include clayton commuter rail, camelton b.r.t. and rail extension, bank head rail to indian creek extension, and clifton corridor transportation plan. tackling these projects accomplishes many ends. as an economic revitalization project. as the next fightal american companies like microsoft to greater atlanta. it is an imperative as getting folks out of cars on to mass transit. decreases the level of co-2 levels. it is a jobs imperative as it creates many well-being jobs. it is racial justice imperative as these projects serve communities historically neglected. i yield, mr. speaker. the speaker pro tempore: for what purpose does the gentleman from georgia seek recognition? mr. carter: ask unanimous consent to address the house for one minute. revise and extend my remarks. the speaker pro tempore: without objection, the honorable gentleman from georgia, mr. carter, is recognized. for one minute. mr. carter: thank you, mr. speaker. mr. speaker, i rise today to remember and honor a very special person, mr. martin smith. martin was a