support public financing at all. i do not know whether this is just about the supreme court ruling. i think this is a larger dialogue about the future of public financing. for me, i think it has been an important government reform, bringing more integrity to the electoral process. for me, protecting that is of the utmost importance. more than helping anyone in this room today, i am looking for future candidates that will come out of neighborhoods and running grass-roots campaigns, which this really benefits. it makes sure we have a wider variety of folks who feel they can run for office and represent the communities here in city hall. supervisor cohen: thank you, colleagues, for your comments. i would like to speak to the many members of the public that are here today, to explain what is happening. the united states supreme court issued a ruling that brought our public finance law out of compliance. the debate you're hearing right now is should we follow the supreme court ruling. if we should not follow the supreme c

i believe the spirit of this and the intent of public finance -- of publicly financing candidates is to help candidates such as myself. they have a dream and an aspiration to serve, but they do not come with big pockets, big friends and come from an economically disadvantaged position to the table. i understand and respect the spirit and intent of this legislation. it is very hard to cast a vote today. i am going to be voting in favor of this item that supervisor farrell has put before us. but begrudgingly. because it is the law and the supreme court has issued a statement. it would be very selfish of us and irresponsible for us not to take this into consideration. i do not believe that we are in the right financial climate to challenge the supreme court, even if that -- if that is even possible. it would be irresponsible of us to hemorrhage good public dollars to fight this case. it is an interesting dilemma we are in. i will be supporting this legislation. thank you, supervisor farrell and supervisor elsbernd for putting this forward. it is difficult for some of our other members o

support public financing at all. i do not know whether this is just about the supreme court ruling. i think this is a larger dialogue about the future of public financing. for me, i think it has been an important government reform, bringing more integrity to the electoral process. for me, protecting that is of the utmost importance. more than helping anyone in this room today, i am looking for future candidates that will come out of neighborhoods and running grass-roots campaigns, which this really benefits. it makes sure w

public financing should be revisited. the point i do not think i made earlier -- supervisor kim is interested in assuring the discussion around public financing. it is a very important. i agree with supervisor farrell about being equitable in which offices we consider, if we are going to offer public financing. an equal playing field should be equal for everyone, not just supervisor races. i am not sure which races are up for reelection. actually, i do. but i do not want to call up my colleagues. trust me when i tell you that those who are in favor will be voting with supervisor kim on her ordinance. i am asking you to be mindful of that when it comes time for elections, like supervisor elsbernd said, being self interested. i think it is deplorable. the issue is we are out of compliance. we as san franciscans, the city and county are not following the law. we need to cast a vote so we can follow the law like other jurisdictions are doing across the country, like supervisor chu said, and then we can have a conversation abo

we also wanted to become a public finance candidate as well. this is something that the ethics director -- thank you for your assistance on this as well. it was a strong position, many of the advocates wanted a full hearing on this legislation. this will now give the community opportunity to give feedback for both the ethics commission and the board of supervisors. supervisor elsbernd: thank you, mr. president, and thank you, supervisor kim, for coming forward with this legislation. the amendment that you are introducing is exactly what supervisor farrell and i have introduced. i just want to point out a couple of things that perhaps have not been thought through. first, a rule of the board, and a supervisor can divide a question -- any supervisor can divide a question. if the intent of this is to ensure that there are eight votes, let's use me as an example. you will not get me to vote for the supervisorial races. i will divide the question. by not moving forward with the the item today, i will say that we'll need a budget analyst report as we

when we speak about finance finance mean trust. it means trust and also critical mass of capital and to build distrust you need to start by the foundations and you have to appear as which f. is essential which is the right figure lation and credible supervision process ok and it's absolutely necessary for local investors or foreign investors to invest in a russian economy to how distressed distressed is based on compatible rules rules that are understandable from abroad and the russian people and i was speaking about critical mass and it is important to create liquidity too and you made to your financial market and this liquidity is big under fact that most investment from the local investors in russia will be done in russia that will create. sircar that will give cross trust to the foreign investor you don't have just to account on extra foreign investors for the russian economy and what is happening today true devotion in. group is. conceiving the building blocks of this relation in line with the global principles and i think i w

the economy we need to finance the russian economy chinese economy and if you have good finance finance if you will for gross ok to do that it's clear that we have to rely on financial centers and that's why devotion projects creating moscow as an international interest center is very important because we need to have a network of financial centers in the word but those financial centers to be sustainable and to fulfill their mission immersed absolutely share common practices common principles common rules that's why we came here in moscow to try to share this european experience and to see what are the best practices that could be conceivable to be implemented in russia all prime minister putin has recently spoken have been investing in russia to an audience of global chief executive spotlight. has bore. the first nine months of two thousand and eleven have seen the new one used to direct foreign investment into russian economy some see companies invest in russia have recently held a meeting with my dinner routine to praise some of the reforms my company nestle and all the members of t

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they require financing at this time. it has been about three years since we last shared with you capital financing. the last one was in 2008. we'll just go on. we have about 14 $29 million in project expenditures that will be funded with these two transactions. we have what are called qualified energy conservation bonds and 6.6 5 million in clean, renewable energy bonds. these actually result from a federal tax credit allocations provided to this city for green- related projects, specifically those of these provide a tax credit similar to what you may recall from our water financing with the build america bonds. it is a similar concept. the interest subsidy brings the overall borrowing costs under 2%. if we were able to pull the trigger today, they would be closer to about 1.2%. very, very low borrowing costs for us. we do anticipate these transactions to occur. the qualified energy bonds of december and the financing will occur in the spring. this is to fund the green components of our new headquarters building. solar,

in the finance minister the former finance minister hey he was labeled to be a liberal he characterized the liberal the liberal wing of the russian public policy makers russian government. was his financial policy really liberal and are we facing the end of the liberal finance policy in which his financial policy would be rather characterized as conservative and responsible rather than liberal because it is not the job of finance minister to be a liberal or not his job is to keep the budget balanced or in surplus when no price as high to pay for say for the rain in the window of prices goes down and in that sense he did his job he did his job especially we'll see five years to go through the crisis spend in manpower after the crisis spending did not go down in the then why does everybody call it a liberal because he was very vocal in this he was very critical of all these strands and he eventually stepped down which actually showed that he didn't like what what was happening i think the liberal policy should be done by somebody else and president reagan gave the speech in some bit of am

you do not want to finance a project with an asset life of five years when you are financing a 30-year window, so we are financing the right type of assets. what would be the coverage ratios that we would not go over? our coverage ratio is that we would never exceed the level of debt service above our operating budget for those kinds of factors so we are constrained so that we do not see a scenario where more and more of our operating budget is eaten up by debt service and that is available for other needs. we are constraining our debt borrowing within this policy. it also will be a good tool to communicate to the credit rating agencies and market here they have policies in place that will help guide the agency and most of the issuing entities as listed below also have established the policies. the reimbursement resolution -- this is exactly what i mentioned before. i will not spend a lot of time on this unless you have questions. the next step is to identify the list of projects. we're very close and told the cac that we will go back to the with a list of projects and come back to ide

the finance minister the former finance minister he was labeled to be a liberal he characterized the liberal the liberal wing of the russian policymakers russian government. was his financial policy really liberal and are we facing the end of the liberal fight in spots in which his financial policy will be. as conservative sponsible liberal because it is not the job of finance minister to be liberal or not his job is to keep budget balanced or in surplus when oil prices high to people see for the rain in the window of prices goes dark and in that sense he did his job and give his job especially we'll see five years to go through that crisis many in manpower after the crisis did not go down in the then why does everybody call it a liberal because he was very vocal about this he was very critical of his stance and he eventually. which actually sure that he didn't like what was happening i think the liberal call this issue would be done by somebody else and president when we did give the speech in st petersburg in june which could be called a liberal speech where a president would have

is there finance? we do not have financed ministers sitting around waiting for projects to come. we have offered quite a bit of staff time. my own and others on this issue will continue to do so. we will make sure the right staff resources are there. and we will identify someone who can serve as the single point of conflict. whether we have someone designated as that person or not, we are fully committed to talking with the various stakeholders to move this forward. one thing i want to emphasize that supervisor campos says and i want to give him credit for this -- it has been his goal, working with us and the other stakeholders, to identify three years' worth of funding. to enable this to happen. to the extent that that could happen, or to the extent that that happens, we need to wait for our own budget process to develop. if we determine that the need is $8 million per year between the mtc and the school district and transportation authority, we can jointly develop a financing plan for that. we do not necessarily need to wait. as for us and bringing something back sooner, should

market finance come to. find out what's really happening to the global economy with much stronger for a no holds barred look at the global financial headlines tune in to cause a report on our cheap. this is our team moscow our top stories tonight new york police get tough on thousands of occupy wall street activists furious that their taxes are being used to prop up corporate america protesters staged the biggest rally in three weeks after being joined by unions now. a syrian woman seen as the symbol of the regime's brutal attack against its own people reappears alive and well after forty having been beheaded has forced several media outlets to backtrack up to giving a supposed death such a ration coverage. eurozone finance chiefs of look to helping out banks that may suffer a blow from greece's burgeoning debt crisis meanwhile in athens violent protests erupted against the ever tough thing austerity measures. more updates or stories with me kevin zero in thirty minutes next the artes you know unique insight

finance lobbying which actually weakens all that legislation and the other thing is i'm not sure that you want an entirely independent federal reserve board anyway but you want one which makes decisions purely on the economics of the case on the politics of the case and the crucial thing was greenspan you're absolutely correct because greenspan more than anybody politicize the process because he was basically at the end of the day a political person because he was a very poor economist everybody agrees that it was a very poor economist and he basically knew how to keep the bankers happy his constituency was always the bankers from eighty seven on with every time the banks had a problem because interest rates a lot of the system with money and that created this huge debt to a large degree so you can't get off that but i think you've got to break that nexus i agree with that these thing i was thinking of the wall street protests perry would like to go down there and join them because remember he was the one railing about the fact that the fed was basically should be tried for treason bu