that is the ftc's job and i'm concerned that the ftc has been silent. >> so, the privacy of contact tracing have to be would address now in the absence of any federal legislation, using our unfairness and deception authority and i can't comment at specific companies or any specific investigations, whether we might have them open or not, but this is an area where we have been heavily focused and part of that is because consumers, you are right, consumers have to trust these contact racing apps if they're going to work. we need a lot of updating in order for contact tracing apps to work. apps developers also need to know the rules of the road, so, we have recently within the last month issued business guidance to app developers where we have five or six specific points that they should take into account when developing apps. now, some of these are not going to be anything new to you, like privacy by design, for example. but there is one that's kind of interesting which is, use privacy protective design features, such as decentralized protocols. so, one of the things that i think is really int

on april the 14th, senator blumenthal and i sent a letter to ftc chairman asking if the ftc currently had the authority under section five authority to enforce against unfair deceptive acts or practices, to deal with the issue of price gouging. on may the 19th, the chairman responded indicating there are significant legal challenges under our current statutory before we address price gouging applications. they rely heavily on the doj. state attorney generals as well to enforce such activities. mr. smith, historically the ftc has not used its section five authority related to those unfair and deceptive acts or practices to take enforcement actions related to price gouging. if congress were to legislate to explicitly direct the ftc to address price gouging, which you have recommendations for this subcommittee as to what that should look like? >> right. so, you are right. historically, the commission, there have been these supplies shocks following natural disasters and the like. the commission has been asked, could the unfairness authority fit the increased crisis that follow the supply

this greenberg, in 2016, the ftc -- you know we always feel the ftc is under resourced. but they found that the black and latino communities tend to be subject to fraud at higher rates and tend to under report cases to the ftc. so while the consumer education alone is not enough, do you think it would be helpful for the ftc to increase outreach to these communities about how to protect themselves against scams and the steps they should be taking? >> we asked the ftc to go to town, hands do meetings at various congressional districts. talk to people in churches. big community gatherings. community centers. the more people learn about fraud, the better they are at recognizing. it's an effective tool. but you have to know to fraud looks like. like mr. anderson said you, i've had various very sophisticated friends and family members fall for frauds. fraudsters are very good at what they do. they read people well and they know what a scam looks like. no no one should be embarrassed by coming forward. but knowing what they look like and how to recognize it is important. i do s

does the ftc have?i've created an apps -- enacted that would increase false advertising and perceptive acts wondering if that is a helpful tool if you are aware of it and what additional tools you might need, breaking a large advertising scams. >> i'm familiar with this act. we may have provided technical assistance and we are happy to continue working with your office. with respect to specific tools that we could use i mentioned earlier reauthorizing the safe web act, introduced, cosponsored a bill that would reauthorize the act, important for foreign law enforcement in some of these covid-19 scams are coming from outside the country. the second thing is to clarify our authority so for decades and decades we had authority to obtain equitable monetary relief under section 13 b and recently there have -- there has been one important court, circuit court of appeals that called into question that orof the supreme court and will be result sometime next year about this time and it would be great to get the a

anybody involved in peddling these products should be to the ftc and the fda. i believe the supreme court ruled recently that even the president of the united states is not immune from investigation. i would say who's ever out there making these claims, no matter what your status is, stop doing it because it's against federal law. anybody making these claims should be investigated. host: i want to show a graphic. this is from the ftc consumer ,entinel network reports looking at reports of fraud and identity theft over time. you can see the spike particularly in fraud reports here on this chart starting in march at the time when coronavirus really started hitting the united states. 134,000 reports overall. the estimated total fraud loss, upwards of $88 million. a little over $260 per individual reported their estimated median fraud loss. can you explain with the consumer sentinel network is and how can the ftc investigate over 134,000 reports of fraud? sentinel weonsumer use because we and other consumer organizations and law enforcement use it as a portal to re

that is why, the ftc can and must take action. it is what i would call false garden-variety false claims, misleading and deceptive practices. whether it is conspiracy theories or false securities, -- false cures, the heartbreaking horrendous results have real life effects on people across the country, around the globe. here is the dirty little secret. you know it. they have these really powerful machines that can target individuals. it is not like a billboard on a highway. whoever passes sees it. they can target individuals who search words and other automated procedures, and they are selling this hugely, possibly destructive capacity to the highest bidder. it is, in effect, they are selling this capacity sometimes to great good, but also great evil. >> as anybody has ever seen this from shopping for tires and suddenly tires start showing up. ads start showing up. we are micro-targeted with virtually every interaction that we have. we have another piece of the video we started earlier. it kind of illustrates this conspiracy theory

we are asking the ftc to take action. not just against the advertiser advertisers, the con artist, but also google. it is taken action the past against advertisers or web designers that enable frauds to reach the people. we are asking the fcc to take action.. you mentioned exposing these frauds will exposing them is very, very important. but enforcing against them is an obligation of the federal trade commission and the federal communications commission all of these groups and agencies have a real responsibility that affects people's lives absolutely astonishing, by the way the project you are doing today the letter is a result of the transparency project. but like wise on fake cures the department of interest has 46 separate false cures they are dietary supplements their chemicals, there is no vaccine as you know for covid-19 and there are no proven therapeutics or treatments and certainly none of these are. so i'm asking them to take action. >> and just to be clear these 46 fake cures are being promoted and represented

the ftc finds themselves regulating bitcoin.re be the three things i would focus on and make sure that cftc is focused on that today and down the road. david: we have to make sure we have enough regulation would not do much. where do you think we have too much and where do we have not enough? heath: the key is determining whether or not we apply the principles-based approach or a rules-based approach. i want to articulate a bunch of objective standards as to when we would've price -- when we would allow for innovation allowing the approach is reasonable, and then, and other areas, rules-based approach which is more granular. that is benefits as well that provides market certainty, and provide some degree of protections against investors against manipulating the market. finding the delicate balance between areas in which we apply principal that are a little bit more flexible, and other areas where we have clear rules that provide certainty, i think that is the real key. we have been digging about that question carefully. david: t

if it is >> as a former ftc commissioner, what is their view on how they have been too lax, and do you this is performative theater or real change >> i think you will see theater tomorrow, okay but whether or not you're going to see real change or not, a lot of it depends on the entities that depend on a form of regulation from the regulator. they will look at what their real competitive practices are maybe we should look at. and that is the opportunity going forward. america has never been a country that has really penalized success. unless it harms consumers. if it is a different standard, what is it that is a larger question to hear and you will not hear that discussed tomorrow, at the hearings, for the house. and i think it is, in fact, every single member of congress using these platforms and they will get reelected they have to walk on egg shells, too. they have to figure out how to use them effectively >> yes, it is a bit of a web there. thank you. former ftc commissioner. >> good to see you all >>> when we come back, the ceo of polaris will join us. a beat on the top and the bh

>> to me that is one of the key questions around some of the cases, particularly the ftc. what i've heard from sources is that right now the government agencies, the ftc that is investigating facebook, for example, their view of the harm to consumers is very much focused on -- still on price so it's this idea of if the service is free, how can you harm a consumer by hiking up prices on them because you're a monopoly you can't because the service is free however, there are readings of antitrust law that find there's harm to privacy, there's harm to the commission, and when they become so dominant, they get to do, effectively, whatever they want your data, so there's harm to your data because you can't easily connect with people or use other services so i don't see, from what i'm hearing, those kind of arguments rising to the fore in the government agencies where they're doing investigations, but i think definitely it's going to come up in the hearing today, and that's going to cement an idea potentially in the public eye of the kinds of harm these companies can cause >> abs

i think the ftc is also focused on it. that require some diplomacy between the united states and china, it is something we have really been a rigid -- really been encouraging them to focus on. jonathan: you've been incredibly proactive about all of this. can you walk us through what you have done specifically? adena: we have definitely had some concern, that we want to make sure we play our role in addressing. we've increased oversight of the accounting firms that are being used by chinese companies. theormally will he rely on ftc for that, but we want to make sure we have some oversight on the firms. is we havehing actually increased requirements for companies listing from china. all of those things are things we can achieve, but it is really a broader ecosystem issue that we want to make sure the government is working with the chinese government to address. tom: the backdrop for this is the alibabatant, and grand cayman's positioning of years ago, but then you have the wire -- the wire drama -- the wire card drama in ger

the ftc ordered revival to remove all covid-19 claims. we checked.checked its website, social media accounts and saw no remaining references to coronavirus. if you suspect an ad of overselling covid-19 you can tell the ftc. we posted a link to our website, nbcbayarea.com/responds. >> thank you, chris. >>> i'm happy to report this next story. the perfect summer body is out and the post quarantine bodies are now in. a recent nutrisystem said poem gained more than 15 pounds during self-isolation. >> don't beat yourself up. people say they're eating more comfort food at home. and while we're at home comfy clothes dominate. none of the waist bands that keep us in check. the survey shows nearly half of us are only wearing sweatpants or yoga pants at home. many say they can't even remember the last time they wore pants. that may not be fully appropriate. you have to put your jeans on once in a while and go, maybe. >> a lot of people wear the shorts and up here is a button down and a jacket. if you can do it from home, do it. >> yeah, but you have to keep yo

the ftc ordered revival to remove all covid-19 claims. we checked.checked its website, social media accounts, and saw no remaining references to coronavirus. if you suspect an ad of overselling covid-19, you can tell the ftc. we posted the link it our website, nbcbayarea.com/responds. >>> a new debate about the spread of the coronavirus is prompting a stern warning this morning. doctors from 32 countries are urging the world health organization to change its guidelines and acknowledge that the virus can spread and linger in the air much longer. right now the guidelines say that virus can spread from large respiratory droplets and those droplets fall to the ground quickly. scientists say smaller virus particles can float in the air much longer and can be inhaled. the w.h.o. argues there's not enough evidence out there to support the claim. >>> atlanta's mayor is talking about testing positive for coronavirus. keisha lance bottoms says she is asymptomatic and has no idea how she picked it up. >> it leaves me for a loss of words because i think it reall

the ftc ordered revival to remove all covid-19 claims. we checked its website and its social media accounts and we saw no remaining references to coronavirus. if you suspect an ad of overselling covid-19, you can tell the ftc. we posted a link to our website, nbcbayarea.com/responds. >> thank you, chris. >>> we still don't know when disneyland will reopen. but we do know downtown disney reopens this week. on thursday, crews are busy putting up temperature screening tents at the main entrances to the outdoor shopping district. there are other safety measures in place as well, including reduced capacity and more sanitizing stations and of course you've got to wear a mask. this is for the downtown disney, not the actually park right now. >>> monterey bay aquarium is now delaying its planned reopening after the latest surge in coronavirus cases. the world-famous aquarium was exposed reopen on thursday but monterey county remains on the state's coronavirus watch list. said to guidelines say any county on the watch list for three or more execut

the ftc okayed that. and all four ceos appeared virtually and depended their companies saying they innovate, create jobs and face intense competition. >> new companies are created all the time all over the world, history shows if we don't keep innovating, someone will replace every company here today >> we have a policy to use seller specific data i can't guarantee you that policy has never been violated >> we have open and transparent rules. it is a rigorous process because we care so deeply about privacy and quality, we do look at every app before it goes on. those rules apply evenly to everyone >> we rely for the trust for users to come back to google ever day a vast majority of google, we don't share ads at all >> a really tough day on capitol hill for tech giants now we wait to see what will happen at the opening bell and how will their companies be affected by this >> and a quick follow up, where does all of this go next after this hearing does it just fade into the ether? >> it might take a while t

congressmen, i think the ftc had all of these documents and reviewed this and unanimously voted at a the acquisition. i think with hindsight it probably looks like obvious that instagram would have reached the scale it has today, but at the time it was for from obvious, lights up the competitors, including other wraps that were successful at a time and had a great founders and entrepreneurs, i don't think those apps exist today. the acquisition has done wildly well, largely because not just of has done wildly well, largely because notjust of the has done wildly well, largely because not just of the founder's talent but we invested heavily in building the infrastructure and promoting it and working on security and lots of things around this i do think this is has been an amazing success story. thank you. you are making a point. in closing, mr chairman i want to end where i began fuzzed up facebook site instagram i5 a threat that could potentially siphon business away from facebook. rather than compete with it, they parted. this is exactly the start of anti—competitive acquisition that

continues to roll out and the idea that maybe the regulatory hurdles are behind them they have the ftc case they won that is under appeal, but really notable looking at those two business models looking at the sale of the chips and the licensing. >> yeah, the pressure they were wonder for more on that, let's bring in the senior analyst , stacey, god to have you today. you're right where qualcomm was now, and now it is 85. it might not have further to run. where do you assess qualcomm is now given the opportunity that opens up for other chip makers like qualcomm now trying to supply computing chips >> are you talking about computing or mobile? >> overall, qualcomm in general, they have more value than some thought it did >> so yes. obviously people new that the settlement was still outstanding. i don't think anyone knowing everything that was going on that a settlement would be coming down any time soon into that was surprising. it is over $200 million in licensing revenue coming next quarter. call it 800 million to a billion. maybe 75 cents that is about how much the stock is up today.

ftc in theike the fdr era. biden is certainly nowhere close to the level of spending that elizabeth warren or bernie sanders had during the primary, but he is signaling a willingness to aggressively tax very high earners and the wealthy in order to fund what his campaign calls investments middle-class.e of four are two out plants in and we are at $2.7 trillion in spending. who is going to be taxed? how much does he expect to raise from that? where else could this money come from? guest: he had in the primaries a plan just north of $3 trillion in tax increases. that is growing now. he is talking about reversing that of the trump tax cuts benefited large corporations and the wealthy. he would raise the corporate income tax rates, raise taxes on capital gains which are largely paid by higher earning investors. i think the campaign has drawn a , people that we would consider the upper-middle-class, or truly the lower rungs of high earners will not see tax increases under his plan. what he is promising as he can do

a lot of it is regarding the ftc decision to approve facebook's purchase of instagram. that is back in 2012. and one of the questions directed at zuckerberg this look like a illegal manuever now. seems like zuckerberg in some of his answers seemed to kind of say, well, maybe you could view it that way now. do you think there will be some reopening into facebook's ownership of instagram, whether it is indeed anti-competitive, which we should say the entire reason we're having this hearing today? >> it is anti-competitive. it is good it is being brought up. a article i saw disclosed emails zuckerberg written about it. he bought the company to put out out of market and [inaudible] cheryl: okay. let's move on. again we're having a little bit of trouble with you. we really haven't heard a lot from tim cook. really i would like to hear more from jeff bezos. hopefully these committee members will bring in mr. bezos more, since i don't know, he is the richest man in the world and obviously during the pandemic amazon has become a huge part of the american consumer's life but let

will's case reminded us of the ftc's mail order rule.says any time you buy something online, by phone or mail, you're supposed to get delivery within 30 days. and if you don't, the company is expos supposed to take action. they're supposed to, a, get your consent, and b, refund you. if you, the company, can't obtain the customer's consent to delay, you must, without being asked, promptly refund all the money the customer paid you for the unshipped merchandise. that is good to know for the next time you have a shipment headed to your home and the delivery is delayed. remember, the ftc mail order rule. garvin, back to you. >> chris, thank you very much. i have something right now i'm waiting for, i'll keep that 30 days in mind. >>> join chris this saturday for a special from our nbc bay area responds team for students around the bay area returning to class. it will bring lots of changes and challenges. chris and the rest of our response team is working to help your family prepare. join us for a half hour back to school special, saturday ni

>> congressman, i think the ftc had all these documents and reviewed this and unanimously voted at the time not to challenge the acquisition. i think it looks obvious instagram would have reached the scale it has today but at the time it was far from obvious. including companies that were hot at the time and had great founders and entrepreneurs running them, david moore, i worked closely with him and i don't even think path exists today. it was not a guarantee instagram was going to succeed. it's done wildly well, largely because, not just of the founder's talent, but because we invested in building up the infrastructure and promoting it and working on security and a lot of things around this. i think this has been an american success story. >> thank you. mr. zuckerberg, you're making my point. in closing, i want to end where i began. facebook, his own admission, facebook saw instagram as a threat that could potentially siphon business away from facebook, so instead of compete with it, facebook bought it. this is exactly the type of acquisition the antitrust laws were designed to preve

threat why shouldn't instagram now be broken off into a separate company >> congressman, i think the ftc has all these documents and reviewed this and unanimously voted at the time not to challenge the acquisition. >> reporter: and google's ceo questioned about the company's artificial intelligence lab in china. >> general dunford says that your company is directly aiding the chinese military -- >> congressman, with respect, we are not working with the chinese military. >> reporter: congress aims to finish this investigation by the end of the year but in the tech community there's skepticism it will lead to real change lester >> all right, jo ling kent, thanks. >>> tonight in atlanta, a long line of mourners paying respects to congressman john lewis, arriving back in the district he represented for more than three decades, and blayne alexander is there. >> reporter: one final trip home for congressman john lewis. his procession weaving its way through atlanta, the city he served for 33 years, leaving his undeniable footprint. pausing at the walls bearing his image, the street bearing his

the ftc side. in the congressional side. people looking closely about doing something about the powers of those tech companies including facebook read. rana: it is interesting, just the past couple of days. a bunch of really major transatlantic drilling around tech. european union was trying to get apple to go avoid tax dodging in ireland they were able to push back on that case through. we just had safe hamburger that is off the table now. some of this simmering war about how we will do tax transatlantic lake. some of this is down in this administration but it also seems to vegas x essential question. i'll check is going to work and what the values are around governing tech will be. it seems like we are moving to find what we are in a trifle role maybe europe and china and u.s. going in different directions. one of the major advantages of these firms have been the network. in the ability to cross border everywhere. grow exponentially. what is this new more fractured fractured world mean to them. steven: think facebook is ve

the ftc says never use a peer to peer payment system like venmo or debit card for online purchases. always use a credit card because it offers fraud protection lester >> important advice there, thanks very much. >>> in this time of need the power of a handwritten letter >>> finally, the sisters who created a movement spreading comfort and joy. here's rehema ellis. >> reporter: it's. a letter writing campaign like no other. >> we have over 2,100 volunteers who have sent over 18,000 letters and cards. we serve right now over 4,000 seniors from around the west >> reporter: it's called letters against isolation. started in april by boston sisters, 16 and 18-year-old chiffon and sharaya patel. they came up with the idea after seeing how much letters meant to their grandmother. >> the act of writing a letter it makes the most enormous impact to the people who receive them. >> reporter: the letters a delight for jim and a flashb of letters from an old boyfriend. >> it's so lovely to have this community during these lonely times. >> reporter: while you're spreading joy you're also getting j

obama's ftc signed off on that. so regardless of what you think has happened at that time, fact is, is that this acquisition did pass the smell test of the regulators involved. maybe they made a mistake or maybe something else happened, i don't know. but the fact is that there is not a problem with the law. now, you know, back about 35 years ago at&t was broken up because it was determined that one-stop shops were monopolistic, and at&t, because you have to get your long distance service from your local phone company, that was monopolistic. so the baby bells were spun off. a whole lot has happened since then. there were mergers and acquisitions in the telecom industry, and guess what? we're back to exactly where we were in 1984. so this goes to show that congressional pressure is not the best. now, using the at&t example which i think was counterproductive, let me ask mr. bezos, you know, say the at&t example was applied to amazon, and you were required to spin stuff off. so you might have no more of a one-stop shop

facebook facing questions from the ftc. the answers they give today could are used against them in the future. now, marcus, we will continue to watch this. it was a bit of a slow start and an hour delayed as well. of course, our scott budman will have highlights at 5:00 and 6:00 tonight. this thing may still be underway at 5:00 or 6:00 tonight. you've got so many house subcommittee members who are each allowed to ask questions. you've got four ceos and just a whole host of topics to get to. so this could well run into the night. but the idea i want to leave you with here is this is not just showmanship. this is part of an actual investigation into the behavior of apple, amazon, facebook, and google. >> i can imagine so many of those congress men, they want to know so much from each one. i can imagine this going well into the night. thanks, scott. >>> speaking of congress, just in texas republican representative louis goemer has tested positive for the w sched this morning but tested positive. he was prone to not wearing a m

the ftc says never use a peer to peer payment system like vinmo or a debit card for your online purchasess use a credit card because it offers fraud protection >> good information. vici, thank you. >> all right, fans of beavis and butthead, good news. the show is coming back to television the creator mike judge is going to be writing, producing doing voice overs for both of those infamous characters in the new reboot which is going to feature some of those old themes that we liked along with some new twists, the remake has also already received a second season order. so we have two seasons of beavis ann beavis and butthead and be really schooled what they are about. >> they are so much about beavis and butthead it was so great in the '90s. >> cultura >>> right now at 4:30 fresh after being named the most valuable car company in the world, tesla under fire. claims being made about the fremont factory. a live report on protests happening today. >>> plus -- >> and that's what we only have about three months of reserves left. >>> barely hanging on. the oakland zoo putting out not allowed to r

obama ftc signed off on that so regardless portfolio what you think has happened at that time, the fact is that this acquisition did pass the smell test of the regulators involved. maybe they made a mistake or maybe something else happened, i don't know, but the fact is that there is not a problem with the law. now, back about 35 years ago, at&t was broken up because it was determined that one-stop shops were monopolistic. at&t, because you have to get your long distance service from your local phone company, that was monopolistic, so the baby bells were spun off. a whole lot has happened since then there were mergers and acquisitions in the telecom industry, technology advanced a huge amount. guess what we're back to exactly where we were in 1984 so this goes to show that congressional pressure is not the best now, using the at&t example, which i think was a big flop and counter-productive, let me ask mr. bezos, say the at&t example was applied to amazon, and you were required to spin stuff off. you might have no more of a one stop shop, but you have to go to separate places for books

several fronts with investigations into their business practices launched by the justice department and ftc. >>> president trump is facing scrutiny for his words about affordable housing in the suburbs. he made the comments while discussing the rollback of a housing rule aimed at fighting racial discrimination as trump works to court white suburban voters. he said people in the 'burbs should not be, quote, bothered by low income housing. abc's alex presha has more. >> reporter: this morning, president trump echoing his attacks on a fair housing rule he recently revoked. >> there will be no more low income housing forced into the suburbs. i abandoned and took away and just rescinded the rule. >> reporter: the obama era rule forced local governments that receive federal housing funds to assess patterns of racial housing discrimination and submit plans to eliminate it. on wednesday the president tweeted, i am happy to inform all the people living their suburban lifestyle dream that you will no longer be bothered or financially hurt by having low income housing built in your neighborhood. your

colleagues across the aisle, both houses of congress, statehouses, across the administration at the ftcned around some fundamental principles that we need to adhere to in principle number one that we have to take seriously our task of investing in broadband, building public private partnerships that could end the digital divide regardless of where you live or what your income is. i'm encouraged by the progress that we see and i am hopeful that progress will continue to keep pace but i'm also mindful that the key to success is maintaining this bipartisan approach that has always been the hallmark of the success of our internet policy and will continue to be. >> host: cat zakrzewski. >> on that same line of questioning, looking ahead to the 2020 election are you concerned that a potential democratic administration could result in greater antitrust scrutiny of the telecom industry? >> guest: i'm not an expert in antitrust law or a competition lawyer. i do know that there are very strong and serious tools that our nation as to advance our antitrust interests which we should take very seriou

have been updated so it's not clear whether this legal or not but -- >> i agree with alex that the ftcand federal election commission needs to do much more in right now i don't think we even have enough commissioners to do anything. >> affectionately the fact that report gives won't get to a quorum -- >> we can hope for new rules but that is not likely to happen but again, what will we do in the meantime is the question and to your point yes this feels like a new thing and i don't think we run into this kind of payment to individuals at this scale before. >> the russians had to do the fake stuff because they can afford to pay people $3000 a pop. it's hard to categorize this thing. is it disinformation? its bazaar. this comes out of the hole instagram influencer concert consumer culture. >> and the ad culture, a lot of things led to this. can we at least do shaming of anyone who would participate in this and i think of someone who hates that and would never advocate that but again i'm worried about these new things coming up and us sitting on our hands in saint while that's an interesti

anybody involved in peddling these products should be to the ftc and the fda. i believe the supreme court ruled recently that even the president of the united states is not immune from investigation. i would say who's ever out there making these claims, no matter what your status is, stop doing it because it's against federal law. anybody making these claims should be investigated. host: i want to show a graphic. this is from the ftc consumer ,entinel network reports looking at reports of fraud and identity theft over time. you can see the spike particularly in fraud reports here on this chart starting in march at the time when coronavirus really started hitting the united states. 134,000 reports overall. the estimated total fraud loss, upwards of $88 million. a little over $260 per individual reported their estimated median fraud loss. can you explain with the consumer sentinel network is and how can the ftc investigate over 134,000 reports of fraud? sentinel weonsumer use because we and other consumer organizations and law enforcement use it as a portal to re

i found very interesting and we will learn more about this is the temporary ruling relief that the ftc did pretty most of these businesses are looking for finances. and so the crowdfunding rules, that all businesses on the same pretty one-size-fits-all. in the information that the intermediary . [inaudible]. does that have to be as intense as that raisin can we look at the things that need to be a corporate investor in order to have the finances with the right operator to make it our sole proprietor because we know that they can get bank owned. but right now obviously, the climate is so different than it was pretty covid-19, and i don't know if you're talking about ppe loan or main streamlinin loan. [inaudible]. >> you mentioned crating a public private partnership under freedom very interested in learning more about this investment model. and how it can survive increased access to capital growth. this will be two women and minority owned businesses pretty you go into further detail about this. he also mentioned there was a coat investment model. do you have any specific data on the su

moreover fdr is looking into political pawns as well, in particular he has the ftc i investigate several senators, and public figures including charles limburg. olive who oppose any intervention in europe. hoover learned from this experience, that he can curry favor, and gain leverage by digging into any precedence enemies, or perceived enemies. for example he never blackmail's kennedy brothers, but he does give robert kennedy, attorney general monthly updates, and all the people that he knows the accusations against, him. and on the one hand, perhaps this is some helpful personal knowledge, that robert kennedy can use, but it also ensures that the kennedy knows, that hoover knows he knows everything. he knows everything that everybody is doing so the kennedy's have the inclination, to shut down what they may be doing because they know in the back of their mind that whoever has taps on them. the restoration of spying takes place in the context of merging national security, right when the second world war ends. a cold war begins shortly thereafter. the house americans activities committee

if you don't, let's have the ftc come after you or somebody else.f you throw it open to unlimited private right to action and class-action suits and all of that, i just think it depresses this part of innovation. in america, we've never needed this space to be more vibrant than we do right now. i have always been in the camp of lighter touch regulation, but have a hammer that can be dropped on somebody that is really misbehaving. but, that should be well identified, well understood, and if you cross a line, you deserve what you get. but when you open it up to anybody, anywhere doing the private rights, it really becomes a burden. and i think you chase capital somewhere else. if you think about the great innovation out of silicon valley going back to that question,, i told the group you are the only element in the modern economy that doesn't have to go to the government to get approval and a permit to do what you do. nobody that's developed an app had to go to uncle sam and apply and wait six months to get approval. you know, we cannot put a power po

>> as a last resort, i would call on the ftc to do its job first. they are not supposed to offer their political opinions. >> thank you, good to see you. >> shark sightings up and down the north east coast including a massive bull shark that weighed in at almost 400 pounds. we will have a live report. plus, protests in portland going on for 63 nights in a row. but it shaped the race for the white house? next. want to brain better? unlike ordinary memory supplements- neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. memory, focus, accuracy, learning, and concentration. try our new gummies for 30 days and see the difference. guys! guys! safe drivers save 40%!!! safe drivers save 40%! safe drivers save 40%!!! that's safe drivers save 40%. it is, that's safe drivers save 40%. - he's right there. - it's him! safe drivers do save 40%. click or call for a quote today. >> sandra: fox news alert, at 1.4 million americans filing for unemployment benefits alone, that brings the total number of jobless claims in the last 19

. >> his answer was that the ftc had all the same information at that time and they approved it >> that's going to be the other interesting element in this. will the government or would the government be willing to go back and effectively unapprove. there has been cases where the government has approved a transaction and relooked at deals they approved years ago. it does happen >> not impossible. >> as somebody who lives in a family of antitrust lawyers, this is what we talk about all the time >> jim cramer has it right on this he was talking about it. this is really one area america 5 excels we have so many other places we've fallen behind. this is the place we dominant and we are great at. hopefully we can come up with some way to regulate without squashingthese i agree with that. talking about other big stock movers there qualcomm shares are trading at a record high breaking triple digits for the first time. first quarter results beating forecast thanks to a settlement with huawei that licensing deal will add $1.8 billion to what we they are owed and a new long-term settlement shares o

regulatory forces that you are talking about are you serious now performing impact trust society, the ftc site and the congressional side to be able to look closely at doing something with the power of defense companies in facebook. >> host: is interesting just in the last couple of days, there's a bunch of major transatlantic rulings around tech. the european union was trying to get apple to avoid tax dodging and they were not able to push that case through. we had safe harbor that is the sort of data sharing between the ease you into the u.s.. that is off the table now. some of this about how we are going to do the tax transatlantic league gets down to this particular administration but it also seems to beg the existential question of how it is going to work and what the value is around governing are going to be. it seems like we are moving to kind of what i call the u.s., europe and china may be going in different directions where one of the major advances of the firms had been the network effect ieffect can and had the o cross borders everywhere. what is this new fractured worldview f

. >> it means the ftc has a lot of winning football over the years and we will see if they have a winningandidate. he did well last night over jeff sessions, jeff sessions had that job for decades and that says a lot about coach tuberville and donald trump's involved in the race. for the president this is a must win seat for november if you want to keep the senate if he wins the presidency but the big seat for republicans, you can't keep the majority without it. there are four vulnerable seats for republicans they are having to defend, north carolina, arizona, colorado and maine. you have to win a couple of those top races to win this one and this is the obvious one. doug jones has only voted 25% of the time with donald trump for a state that is the deepest red, one of the reddest states in the nation, voted to impeach the president on both counts, voted against, voted for federal funding of abortion. if you look at those votes versus where people in alabama stand on political issues you couldn't be more out of sync. it is hard to see if doug jones killed -- care about keeping the seat in

help have to say that the from the ftc was important, as well, because we're typically competitors, and this is really a combination of all of these companies working together. the plasma donated by people who have far off covid-19, as you've already heard, has precious antibodies, really important antibodies to fight off this disease. these antibodies can be isolated. and then they can be converted into what we term a hyper immune plasma therapy that, in theory, could be used for treat active covid-19 infections, built on the concept of plasma transfusion, but the product is more of a standard medicine. approach, important and is well-established in treating other infectious diseases like rabies or tetanus. working joining with the -- jointly with the nih, plasma manufacturers have designed a clinical trial that will be rolling individuals in the month of august. and if the data from this support our hypothesis, we could be in a position to submit the hahn immune therapy to dr. for immunotherapy against covid-19 by the end of 19. but we need plasma and we need plasma donors. we need th

why the regulatory forces that you are talking about are pretty serious now on the trump side, the ftc side and the congressional side of people looking closely. >> host: just in the last couple of days we have had major transatlantic rulings so that european union was trying to get apple to avoid dodging and they were not able to push that through. we had safe harbor which is the sort of data sharing between the eu and the u.s.. that is off the table now. some of this about how we are going to do tax transatlantic lead is down to this particular administration but it also seemo beg the existential question of how tech is going to work into the values around governing are going to be. it seems like we are moving to kind of i call it a try for a world where you put the u.s., europe and china going different directions. one of those major advantages has been the network effect, the ability to cross borders everywhere and grow exponentially. what is this going to mean for them? >> guest: it is a challenge. facebook is very concerned. i think if they were constrained not only by antitrust

we saw they made promises to ftc and ultimately got fined $5 billion because the ftc did not believe they had kept up their promises if that happens here with advertisers as well, they promise something and advertisers come back, those money drivers would tend to be less understanding if facebook doesn't meet its commitment. right now it's not making commitments to them at all i think this is a brand trust problem. >> so why does the stock keep going up it's up today despite scathing news and bad headlines it's up despite big name advertisers pulling out. it's trading near record highs what ultimately cracks the business case for this stock. >> so we have to see it in the p&l. when mark zuckerberg and sheryl sandberg do nothing, that's great for wall street. it says they aren't going to spin more money trying to moderate content they are not going to limit the types of content they post, which might be popular and get some advertising from super fans and they are going to do nothing" the facebook model is awesome monetary model they see out of 7 million advertisers brands are not imp