i'm malia cohen chair of the budget and finance committee. i want to acknowledge my colleague to the right is vice chair supervisor norman yee and to my left is katy tang. today we're clerked by john carol and lynda wong will provide technical expertise and backup. any announcements? >> yes, please silence all technical devices and cell phones. items acted upon today will appear on the april 25th board of supervisors agenda unless otherwise stated. >> thank you. call first item. >> clerk: resolution designating those agencies qualified to participant in the 2017 joint tbund raising drive for officers and employees of the city and county. >> i'm joan letter, mesky. we've reviewed all seven applications and find them all to be in compliance with the administrative code. do you have any questions? >> that was a quick presentation. okay. thank. >> let's see. colleagues, any other questions? >> questions? none? okay. well, sthawrchg. we'll go to public comment. ladies and gentlemen, this is time for public comment where you have two minute totion

he appointed me, she spoke about campaign finance and citizens united many times. it is continue's job to do things like enact law that's are so clear in terms of reporting requirements that the fec could not get away with making those false arguments about things. so the law could be clearer, itself is dysfunctional and cannot do -- >> but it seems to me that congress doesn't want the fec to have more teeth because these are laws, rules, and regulations they would then have to live by. zrp. >> that is one way to look at it, but over the years the fec has functioned even though it didn't have a lot of teeth, and it was always no more than three of one political party. but it functioned and people believed in the law. what congress has done is they purposely appointed three commissioners they knew were going to always vote as a block, and since four votes are required, they could essentially stalemate the agency and eliminate it's purpose. mitch mcconnell viewed his appointees as following in his viewpoints which are, and he said this publicly, he said "does not bel

into finance. it is more expedient. maybe easier. the presentation is basically going to be three slides. i think the three slides help paint a picture of mexico that has become more resilient, more diversified, and in some cases, surprising in terms of the challenges we have had to face, the way that we have faced them. i'm very cognizant of the fact of the person before me, he is much more spectacular than the and could have done the presentation in any one of the six languages he is fluent in. you will have to do with my mediocre english. that is what mexico has done in terms of growth. that is what is interesting about this picture, it looks quite boring. mexico has done around 2.5 on a yearly basis since 2014, less at the beginning of the administration, a little more at the end of the last administration. but that consistent performance means that mexico today has an economy that is 20% larger than what we had in 2009. 20% is quite a big number. if i were 20% taller, i could be playing basket

housing finance. so we don't put taxpayers at risk yet have liquidity. i'm also focused on cyber security. housing finance. o we don't put that is big issue across the government but from our standpoint in treasury, one, we maintain probably the largest data base in terms of taxpayer records, npii. we feed to make sure that's protected. we need to make sure that taxpayers can interact with us at is big safely and securely. from the standpoint of the financial system, i'm borking very closely with banks -- working very closely with banks to make sure our financial infrastructure is protected. so those are really my priorities. along the way i've got the get the debt ceiling increased, do a few other minor the things. but those are my major priorities. >> so you don't have ambitious goals, is what i'm hearing. >> a big agenda. >> you are raising a really important question. the debt ceiling -- >> i gave you a freebie there. >> i know. it's going to be raised. you have extraordinary measures. >> super po

he made the comments during the institute of international finance. here are his remarks in their entirety. >> than we think our friends and colleagues who cosponsored this event today and the chairman and ceo, a dear friend who will be asking the secretary the questions today. we are fortunate to have the secretary here today. directly for four treasury secretaries. i know it makes a good treasury secretary. i have traveled millions of miles within that haven't spent time with this secretary, his vision in the president's vision, let me say i'm incredibly confident that this gentleman has the right ideas in the right team in place to advance a very progrowth agenda. so with that like to introduce and thank you or or 77th 77th secretary of the treasury, steve mnuchin, and mark wineburger. [applause] >> well, put a lot of pressure on you there, mr. secretary. >> very kind introduction. >> well, thank you. let me add my thanks for being here. start on the permanent side, mr. secretary. obviously you had an incredibly distinguished private career. i'm no

in the early days, you would go into campaign financing and you would go into campaign finance, but now we realize campaign-finance in this town is all about land-use. it's likely that when we do our data analysis as we are attempting to do, if we can get the data, we are going to see that 90% or 80% of the money is really connected to permits for developers seeking permits. i think mr. solomon is right when he says there's $1 million for every boom crane you see on the horizon in san francisco. it's not going into the pockets of the city. there are obviously consultants were consulting attorneys involved and common plan or come i won't mention who-in history of the city, told me that essentially, there's a handful of key players with all things in san francisco and they overlap with just about everything that involves money in particular, big-money. so it boils down to a handful of people and if we identify that cadre of 20, 30, 40 people are basically running land-use in this town, we're going to basically come to 80% of the money flow. so, maybe more. she said, 90. in any event, i'm

we obviously can't finance that all on budget. but gary is very focused on this and it's a big priority of the president. >> makes sense. let's talk about health care for one second. the president talked about putting that back on the agent. that really does -- back on the amend that does fake the budget, using the budget wreck reconciliation bills and there's a lot of tasks in the healthcare bill. how is that going to move forward. >> what i would say is whether healthcare gets done or doesn't get done we'll get tax reform done, and i'm not as close to the healthcare discussions. i know that the president and team continue to look at that, and we'll see where that goes. the current health system is a disaster and needs to be fixed. >> if you -- i guess you're saying you don't know yet but there's trillion dollars of tax increases in healthcare bills, the affordable care act. is it your thought that would be dealt with in tax reform if we don't go back to health care. >> we'll take everything under consideration. not all trillion,

is campaign finance reform in a similar condition and how do you stand? sen. mitchell: i strongly favor enactment of both campaign finance reform legislation and the gatt, or trade legislation, to which your question refers. i will continue to do the best i can to get them both passed. we, of course, facing difficult situation on campaign finance reform legislation. i earlier referred to the fact that we now have for the first time in the senate's history to my knowledge of filibuster on trying to get a bill to conference. that is the bill to which i referred. as you know, incredibly enough, there exists under the senate rules the possibility of three separate filibusters just to take a bill to conference. we've overcome one of them. we're going to vote on the second one tomorrow. we may be required to go through an additional 60 hours of legislative session and a third cloture motion to get conference. i hope that our colleagues will discontinue this effort, and that we can proceed to passage of the bill. i think it is very important. and i think the gatt is

one is domestic finance, which i had a lot of experience in, international finance, which i like to say i had a reasonable amount of experience, and the third part was terrorist financing and intelligence, which i like to say i had no experience in. so i spent the first 90 days getting a ph.d in sanctions, -- sanctions programs and the intelligence functions and what we do at treasury and some of the most important work we have done and has been instrumental to what we're doing in north korea, in syria, in iran, and in many other parts of the world. mark: well, thank you. we only have 30 minutes, so i will get to the substance in a we had lunch today with a number second. of board members of the organization, and they were asking a lot about how -- you mentioned you came into your role, some things you didn't have any experience in. you have skill sets that carried over. a lot of people in this administration are coming in brand-new to government. how do you see it operating when you work with the president, how are you deciding who does what and how you negotiate with him in making dec

course, facing difficult situation on campaign finance reform legislation. i referred to the fact that we now have for the first time in the senate's history to my knowledge of filibuster on trying to get a bill to conference. that is the bill to which i referred. as you know, incredibly enough, there exists under the senate rules the possibility of three separate filibusters just to take a bill to conference. we've overcome one of them. we're going to vote on the second one to mark. w-- tomorrow. go throughequired to an additional 60 hours of legislative session and a third cloture motion to get conference. i hope that our colleagues will discontinue this effort, and that we can proceed to passage of the bill. i think it is very important. and i think the gatt is very important. it will reduce tariffs worldwide on american goods by 1/3. it will greatly enhance the ability of americans who are engaged in activities involving intellectual property rights and services to make those goods and services available in other countries. it will be very good for the a

rk base finances had a competition and resilience to the system in the connector membership, it is addinghem or is, which reflects much better if the totality of the financial system and it did several years ago and detained another scrape it bare. with respect to the macroeconomic impact, it has been apparent for some time that having well-capitalized and liquid tanks is a prerequisite rather than an admin to growth. and those economies where reform is to trick us in recoveries have the most robust. indeed, when we look at the global outlook right now, i argue that the broader benefits of reform are now being realized. the system smooth, financial systems move from fragility tour is resilience. is growing in non-major economies and they increasingly diversified between banks and markets in a system that has demonstrated an ability to dampen ready to amplify shots. the biggest question now is how do we take advantage of that progress? i would suggest three priorities in my remarks today. the first is that the reform implementation process should be dynamic as well as effect is. that's rea

of the finance ministerfrom the for the whole recall of the finance minister from the international roadshowwe saw this before, south africa was on an negatively watched. they were looking at other offenders including wea k growth looking at other offenders including weak growth as part of the reason of those downgrades but that this is actually created a situation where they pulled the rug under the feet of south africa in terms of ratings asa of south africa in terms of ratings as a result of these heightened political risks. you will meet the new finance minister later on today. what are you hoping? basically, the question is, and you are a cheap economist so you would know, how you turn that africa around? —— south africa. well, it's a tough environment and it requires what happened in 1998 west south korea made a declaration that there would be no bailout and they created a situation that guarantees that state enterprises were reduced and they made it clear that the growth economy would open up top foreign investments. these are the things that are required. admittedly, the ideological

it's really important to note that the finance minister, the new finance minister, took it upon himselfo meet urgently, he deemed the conversations to have gone well. they were robust and cordial. however, fitch has put out a statement saying that south africa's southern could be reviewed as a result of the engagement. >> thank you very much. a lot going on then. emerging markets management. joining us in the studio, simon, good to have you with us. why do you think we've seen such a large reaction in various asset classes? i'm also looking at the yen extending losses again. very volatile trade after more than 1.5% now? >> well, that's word radical essentially. and south africa does need a radical change because she sought policy play in the last five or six years. so they've hl the opportunity to promote growth and reincome distribution. that's why you need this radical change. >> what do you think happens next? do we still believe in investing in south africa after this? >> i think investors are going to be very cautious. a fundamentally cautious story. we've definitely been cautious

as well as abundance finance capitals in the u.s. market which has been seen since the early 1980's, the inflow of capital from around the world into the u.s., as well as what i called on monday, the wealth effect. the soaring stock market prices, the creation of more wealth and asset depreciation. that dynamic channeling investment into the new i.t. investments and fixed capital, information technology, which will then, greenspan expects, will lead to higher business productivity, higher output, higher profits, which will then justify the high stock market valuations to begin with, therefore fueling this virtuous cycle. so drawing from the list, i will call this an asset price -- you are raising aggregate demand, because of the website -- wealth effect of these rising values in the stock market. this is not the kind of raising through public debt and public spending or even public investment, but rather raising aggregate demand and therefore output, as greenspan explained to, through depreciation and financial markets. fueled by wha

i'm malia cohen chair of the budget and finance committee. i want to acknowledge my colleague to the right is vice chair supervisor norman yee and to my left is katy tang. today we're clerked by john carol and lynda wong will provide technical expertise and backup. any announcements? >> yes, please silence all technical devices and cell phones. items acted upon today will appear on the april 25th board of supervisors agenda unless otherwise stated. >> thank you. call first item. >> clerk: resolution designating those agencies qualified to participant in the 2017 joint tbund raising drive for officers and employees of the city and county. >> i'm joan letter, mesky. we've reviewed all seven applications and find them all to be in compliance with the administrative code. do you have any questions? >> that was a quick presentation. okay. thank. >> let's see. colleagues, any other questions? >> questions? none? okay. well, sthawrchg. we'll go to public comment. ladies and gentlemen, this is time for public comment where you have two minute totion

i'll give apply to the government finance officers association. you know, that way you are not flying by the seat of your pants and you have wrote the bureaucrats and elected officials in agreement on balanced budgets and what to do with one-time revenues, it better. check to see if your tax structure is aligned with your current economy. we rely 50% of our general fund revenues for property taxes, another 70%. our economy is based on so-called heads and bad. commuters coming into the city, entertainment, tourism. it's not an industrial economy anymore. but we don't have a local sales tax. we don't have a commuter tax. our nonprofits a little bit to us that we squeezed out of them. and so, those are sources of revenue that would really help us be more self-sufficient and forward, rely less on the state federal government. from this tape respect it, i would advise any state to look at maryland property tax system. it has a lot of features that really help stabilize revenue for local government. >> okay, thank you had ashland, let wrap up with you a

i'll give a plug to the government finance officers association. that way you're not flying by the seat of your pants and you have both the bureaucrats and the elected officials in agreement on balanced budgets and what to do with one-time revenues, et cetera. check to see if your tax structure is aligned with your current economy. in baltimore our's is not. we rely 50% of our general fund revenue is from property tax and another 20% is from income tax on residents. our economy is based on so-called eds and meds, on commuters coming into the city, on entertainment, tourism. it's not an industrial economy anymore, but we don't have a local sales tax. we don't have a commuter tax. our nonprofits pay just a little bit to us in voluntary payments that we squeeze out of them. so those, i think, are sources of revenue that would really help us be more self-sufficient going forward and rely less on the state and federal government. and then from the state perspective, i would advise any state to take a look at maryland property tax system. it has a lot of

n have beenand gordha at heads since the finance ministers was reappointed to his portfolio as financer at the time. that has been a future ever since december 2015. ♪ ♪ erik: welcome back to "bloomberg best." credit suisse held its asian investment conference this week. we sat down for an exclusive interview. we asked how the bank is preparing for the uncertainties of brexit. >> our dealings with london is quite old and large. we have quite a few holdings in europe. we have a new center in dublin, where we have transferred. we have options depending on how brexit plays out. >> you said that time has stopped a little bit now. you see banks like goldman sachs with a contingency plan. think credit suisse is going to have? had 9200 ago, we people in london. we have taken it down to 6000. there was a massive draining in 2016. ou ultimate goalr is to get down to 5000. that is a plan we have been implementing. >> is there something you are looking for in terms of clarity? do you want to see how negotiations are-- >> we want to see how negotiations are going to play out. the european union is

as the institute of international finance is about to kick off its a daylong policy summit. among the speakers you will hear from treasury secretary steven mnuchin, white house budget director mick mulvaney and white house economic adviser gary cohn. they will be speaking this afternoon. live coverage of that. this morning panels on prospects for economic growth and tax reform efforts. should start in just a bit. live coverage here on c-span2. want to let you know that some of the other programs we have coming up for you today. republican chair is holding a news conference after the agencies opening meeting and you can see that life at 12:45 p.m. eastern on c-span. tonight on c-span it's part two of a special program on the trump cabinet. we will show you portions of confirmation is with education secretary at the devos, epa administrator scott pruitt and others. it starts at 8 p.m. eastern on c-span. [inaudible] >> every question we ask. can help our clients grow. innovators accelerate, governments solve more complex challenges, and communities to thrive. all of these bette

. >> next, a forum on housing and finance policies. this examines how city revenues were affected by the financial crises from 2007 to 2009. the urban institute and lincoln institute of land policy cohosted this panel runs 90 minutes. [inaudible conversations] >> good morning. welcome. i am erica, director of urban policy initiatives and policy advisory group at the urban institute. if this is your first time at the urban institute a very warm welcome to you and if you are a regular participant in our live and urban event, welcome back and also a very warm welcome to those joining us today, the webcast, and c-span2. we hope you are able to participate in the conversation. to follow it, please follow the hashtag live@urban. the agenda for this event contains the twitter handle for all participants so you can include us in your tweets. if you have a question and are watching this event on webcast or c-span2 you can email us your question at events@urban.org, events@urban.org. we hope you participate in the conversation. let me say a litt

the south african rand tumbled as investors reacted to the financing of the finance minister.sident zuma is facing backlash over his decision to fire the popular minister. let's get more on this. huge market reaction. affairs minister in the finance position who is relatively untested. clearly this is a big deal. deal becausebig not a lot is known about the new man. he is obvious the zuma's man and s going to be of concern. it is now a question of what his actions rather than his words are. at the moment, we have seen some comments by the new finance minister that he will try to stick to the country's fiscal path, but it will be about policies and actions rather than words. that is what the market will be watching. tracy: we have people speculate about whether we will get a downgrading to read how is this going to unfold? >> the rating agencies are not officially do until july, the first of the three big rating decisions. that is not to say something won't come sooner but it will be very unlikely. settles,e dust kind of to see where south africa is going fiscally and so on. th

mr hammond had one simple message, make an india that finances in the uk.pital he will need more business leaders and officials from the reserve bank of india. an institution that will be crucial for of india. an institution that will be crucialfor any of india. an institution that will be crucial for any future partnership. india needs more than $1.5 trillion of capital infrastructure alone in the coming yea rs, infrastructure alone in the coming years, so infrastructure alone in the coming years, so there is plenty of opportunity for both sides. president donald trump says he is working on sweeping reforms to the banking regulations, introduced in the us following the financial crisis in 2007. he has promised a rollback to make it easier for businesses to get loans. in terms of what he can do, this would require congress due get involved, it would involve rewriting the law that was passed by president obama back in 2010 in the wake of the financial crisis. essentially toughening up laws on banks and financial institutions. so any changes to that would req

this is the german finance minister suggesting that he would not have agreed to the deal that greeceke. the telegraph has got an interview and extracts from yanis varoufakis's memoir, in which it turns out he was secretly recording conversations when he was great finance minister when he was great finance minister when greece was at risk of tumbling out of the euro and had to accept very harsh austerity measures in return for a bailout and he said that the german finance minister admitted at the time privately, not for public discussion, that if i was you i would not sign this day because this is all about national pride as much as i think that you are being asked to sell your country down the river. it is quite an amazing story. it backs up what a lot of people were saying that greece were made lot of people were saying that greece were made an lot of people were saying that greece were made an example of and it shows, the point the telegraph we re it shows, the point the telegraph were making, it shows how germany will perhaps behave during the brexit discussions when push comes to

the ft says women are still missing out on most seniorjobs in the finance industry.usiness standard looks at us president trump's crack down on h1b working visas which could spell severe trouble for indian computer programmers. the paper says there are plans to prohibit visas to entry

we have a management three that works in finance. so those people do different things in their daily work, but they have the same classification you're in this particular case, we had a management three was serving as both the executive assistant and the commission secretary and as we looked at how we change as an organization over the last year, and looked a little bit back at the--how the former agency operated, sf rda already had two positions. one is the executive assistant to the executive director, and one as the commission secretary. we had moved following dissolution, we, the idea everything was getting really contracted, we consolidated those positions into a single management assistant three position. now that we have posted post dissolution, we've another enforceable obligations approved and we have staffed up to be able to implement those enforceable obligations. as a result were larger organization for project staff and we are finding just takes more administrative capacity to support additional project staff. so we went

i'm malia cohen chair of the budget and finance committee. i want to acknowledge my colleague to the right is vice chair supervisor norman yee and to my left is katy tang. today we're clerked by john carol and lynda wong will provide technical expertise and backup. any announcements? >> yes, please silence all technical devices and cell phones. items acted upon today will appear on the april 25th board of supervisors agenda unless otherwise stated. >> thank you. call first item. >> clerk: resolution designating those agencies qualified to participant in the 2017 joint tbund raising drive for officers and employees of the city and county. >> i'm joan letter, mesky. we've reviewed all seven applications and find them all to be in compliance with the administrative code. do you have any questions? >> that was a quick presentation. okay. thank. >> let's see. colleagues, any other questions? >> questions? none? okay. well, sthawrchg. we'll go to public comment. ladies and gentlemen, this is time for public comment where you have two minute totion

ladies and gentlemen, good morning the meeting will come to order this the regularly the budget & finance committee excuse me - board of supervisors budget & finance subcommittee i'm supervisor cohen chair of this committee and to my left is supervisor katie tang and to my right is supervisor yee and our clerk mr. john carol and linda wong thank you jesse larson and phil jackson from sfgovtv so for assisting us today madam clerk, any announcements? devices. completed speaker cards and documents to be included should be submitted to the clerk. items acted upon today will appear on the may 2 board of supervisors agenda unless otherwise stated. >> thank you very much call the first item revenue bonds or commercial placing the total principal amount of san francisco international airport subordinate commercial paper notes for any lawful airport. >> thank you i'd like at a call kathy from the airport to make a brief presentation on this item. >> good morning chair cohen i'm kate hartley with the san francisco international airport if i might make a suggestion to call item 2 since the budget an

the corporates, cash risk, they finance themselves on their own cash flow. so i think that we are in a good place at the moment. the big challenge is the housing market that needs political initiative and strength and action. and that's not really happened to tell you the truth. >>> s.a.p.'s first quarter operating profit has fallen fractionally short of estimates as its pivot to the cloud diverts sales from higher margin products. revenues at europe's biggest softwaremaker grew quicker than the market had been anticipating. the ceo, bill mcdermott joins cnbc at 14:50. >>> paras is still with us. do get your questions and your comments through on twitter, @louisabojesen and on good old-fashioned e-mail, streetsignseurope@cnbc.com. i want to get to a couple viewer questions first to recognize those of you writing in. barry says hello. with london residential property prices sliding badly, are commercial properties going the same way? what do you think in terms of the overall property market? >> i think we know some of the reasons that the london residential m

i'm malia cohen chair of the budget and finance committee. i want to acknowledge my colleague to the right is vice chair supervisor norman yee and to my left is katy tang. today we're clerked by john carol and lynda wong will provide technical expertise and backup. any announcements? >> yes, please silence all technical devices and cell phones. items acted upon today will appear on the april 25th board of supervisors agenda unless otherwise stated. >> thank you. call first item. >> clerk: resolution designating those agencies qualified to participant in the 2017 joint tbund raising drive for officers and employees of the city and county. >> i'm joan letter, mesky. we've reviewed all seven applications and find them all to be in compliance with the administrative code. do you have any questions? >> that was a quick presentation. okay. thank. >> let's see. colleagues, any other questions? >> questions? none? okay. well, sthawrchg. we'll go to public comment. ladies and gentlemen, this is time for public comment where you have two minute totion

in the early days, you would go into campaign financing and you would go into campaign finance, but now we realize campaign-finance in this town is all about land-use. it's likely that when we do our data analysis as we are attempting to do, if we can get the data, we are going to see that 90% or 80% of the money is really connected to permits for developers seeking permits. i think mr. solomon is right when he says there's $1 million for every boom crane you see on the horizon in san francisco. it's not going into the pockets of the city. there are obviously consultants were consulting attorneys involved and common plan or come i won't mention who-in history of the city, told me that essentially, there's a handful of key players with all things in san francisco and they overlap with just about everything that involves money in particular, big-money. so it boils down to a handful of people and if we identify that cadre of 20, 30, 40 people are basically running land-use in this town, we're going to basically come to 80% of the money flow. so, maybe more. she said, 90. in any event, i'm

the catch our finance ministers is performingry to expectations.also said taking a long-term approach and teaming up with key to atners has been qatar's successful projects in the u.s.. >> in 2015, there was no discussion of the investment and infrastructure. we like what we see in the u.s., infrastructure, and we will look forward to doing more things. >> when you think about investments, do you think of it is a typical portfolio manager, or the way governments would foreign aid? to wield influence in a certain region? , itf you look at what we do is truly commercially-driven we go where we think we will have value. it also goes with asset diversification, currencies, we like what we see here. we have performed well in the last two years. hopefully, we can continue that same strategy the u.s. >> in the market we have today that is risk on and risk off, how do you find diversification? 2008-2009, what we did in europe and other parts of the world, most investment is long-term strategy and holding. that is how we would like to look at it in the u.s.

plus, italy's finance ministers is the worst is over for his nation's banks.os see a lot to like in a policy orders of donald trump. >> i say we thrived in the obama administration really in spite of the obama administration. erik: this is bloomberg. ♪ live-stream your favorite sport at the airport. binge dvr'd shows while painting your toes. on demand laughs during long bubble baths. tv everywhere is awesome. the all-new xfinity stream app. xfinity. the future of awesome. the biggest week wow, watchathon has netflix? hey, drop a beat... [ beatboxing throughout ] show me orange is the new black. wait, no bloodline. how about bojack? luke cage. oh, dj tanner. maybe show me lilyhammer. mmm, show me last chance u. on second thought, maybe pompidou. narcos, fearless, cooked, the crown. marco polo, lost & found. grace and frankie, hemlock grove. season one of... show me house of cards. xfinity watchathon week starts april 3. get unlimited access to all of netflix and more, free with xfinity on demand. ♪ erik: this is "bloomberg best." i'm erik schatzker. brexit is

i'm malia cohen chair of the budget and finance committee. i want to acknowledge my colleague to the right is vice chair supervisor norman yee and to my left is katy tang. today we're clerked by john carol and lynda wong will provide technical expertise and backup. any announcements? >> yes, please silence all technical devices and cell phones. items acted upon today will appear on the april 25th board of supervisors agenda unless otherwise stated. >> thank you. call first item. >> clerk: resolution designating those agencies qualified to participant in the 2017 joint tbund raising drive for officers and employees of the city and county. >> i'm joan letter, mesky. we've reviewed all seven applications and find them all to be in compliance with the administrative code. do you have any questions? >> that was a quick presentation. okay. thank. >> let's see. colleagues, any other questions? >> questions? none? okay. well, sthawrchg. we'll go to public comment. ladies and gentlemen, this is time for public comment where you have two minute totion

so all the financing changes and none of the structural changes. and then we have the strategy that, actually, four governors, in a very interesting letter to house and senate leadership sent, and their vision is a vision that sort of turns the first vision on its head, which is very careful introduction of the kinds of financing reforms that gail mentioned, with also a clear choice on the part of states to remain in a current financing structure, but with some limits, but allowing states also to move into more aggressive financing reform, coupled with very sweeping legislative -- with structural changes in the program on basically all aspects of the program. so we see these two very strong competitors for a reform vision. finally, there is the question of 1115, which obviously can work by itself, or it can work in connection with some of these other reform efforts, and i will close here by saying that i think, quite frankly, 1115 has been way overblown. 1115 is a 1962 demonstration authority. it was enacted in order to create authority in the secr

it is public financing. >> the senate did vote it up and down. they voted a version of -- bob dole: yeah, and then it got worse, and then they added public financing and a lot of other things the american people aren't prepared to do. >> in your -- in the debate this year, we went from the mandates, and you drifted to the subsidy approach and you had a kind of , scaled-back subsidy -- that is what i want to ask you. we had a good program, but even ours was very expensive. your bill, when it got costed, you backed away from some of your bill -- when you come back next year, do you think there will be -- would you support a substantive approach or at this point are you down to just a sort of insurance market reform approach to health care? bob dole: do you mean down or up? >> well, down. i mean you can play games. you know are clinton is. bob dole: yes. >> do you think that there will be support after the elections for some subsidy approach, or is -- or has this year taught you it is too costly and people won't buy it? bob dole: elections and see w

erik: energy executives are pumped for the future, and italy's finance minister insists the banks areack on track. >> now we find a solution within the european rule context. erik: insight into what's ahead for the fed. >> causa tied to be thinking about how he normalized a little bit more quickly. >> a few hikes this year seems reasonable? >> this is not an environment where the data is screaming you have to move. erik: it is all straight ahead on bloomberg best. ♪ erik: hello and welcome. i'm erik schatzker. this is bloomberg best, your weekly review of the most important business news, analysis and interviews from bloomberg television around the world. this was the week prior minister theresa may promised to trigger article 50. starting britain on its long and potentially painful breakup of the european union. but on monday, a multinational merger took an important step forward. the european union approved the $77 billion merger of dow chemical and dupont, saying the companies have addressed its concerns. what sort of concessions to the companies have to make together -- to get the