you see here that in the most severe market and the repeat of the gsc, we are looking at a couple of year periods where our net cash outflow, and this is cumulative, is about 1.3, one point for billion dollars. and again, and then we would have benefit payments of that time of say 600, 650, maybe 700, so we are all in for a total of 2.0 or 2.1, were you will recall from our early presentation that even in the two standard deviation correlation one, is that for 30 day assets, we still ahead 6.2 billion, and for assets that are available in one year, is still 10.5 million. so we have stress test this in every way possible, and we are very comfortable with the duration risk that we are taking with regards to private markets, both in the short term and the long term pay off of what we hope to achieve. any other comments? >> that was a great summary. >> thank you. >> thank you, thank you very much. >> this is one example. so these are all estimates based on manager's capital, when they return capital, what those returns are, and others, so we wanted to give you a second example of another

it's interesting she said that thing about turning it upto gsc. she would look gr claim forever.e you're on there, you will always be remembered as that way. >>> the ever added 640 words. in some cases existing words got new snowflake, someone regarded as special or omeone who is and there are words new to the dictionary including swole, egot, you know, emmy, oscar, tony and garbage time, the final moments of a blowout game. the word stan has an entry as a noun and a verb. it's used to describe extremely devoted fans. you remember where that came from? >> eminem song. >>> when we return, the unstoppable james holzhauer shatters yet another record on "jeopardy." you're watching "early today." my gums are irritated. i don't have to worry about that, do i? harmful bacteria lurk just below the gum line. crest gum detoxify, voted product of the year. it works below the gum line to neutralize harmful plaque bacteria and help reverse early gum damage. gum detoxify, from crest. people always ask me who's the real mugsy? he's a wide receiver an abstract painter a super model in a word, he

one as it relates to the gsc's we should have a system where taxpayers are not at risk.system where people can access mortgage capital 30 year mortgages but not put taxpayers at risk. and the reason why we are focused on housing reform and not just gse reform as you want to make sure we don't take the risk, fannie mae and freddie mac include all fha and transfer it to taxpayers in another bucket. this is something i really hope we can work on a bipartisan basis. i've said my first choice is to do legislation with congress and i hope we can do something quickly this year. >> i appreciate your interest in making housing finance reform a priority while the last administration did express interest in the issue, they do not provide the leadership necessary to get reform over the finish line and your leadership makes me optimistic this will get done. madam chair, ask unanimous consent to submit the record a list of previous appearances by treasury secretary's along with the time that they gave. >> without objection such as the order. thank you very much. >> i yield the balance

hopefully not gsc level. anything like that, very hard to predict.l: predicting the future is a trick. adrian: tell me when you can do it. paul: thank you adrian banner from intech. you can get a roundup of the stories need to do in today's edition of daybreak. bloomberg subscribers can go to their terminals. it is also available on mobile on the bloomberg anywhere app. you can customize your settings so you're only getting the news on the industries and assets you care about. this is bloomberg. ♪ paul: this is bloomberg technology global link. i'm paul allen in sydney alongside selina wang in san francisco. let's take a look at the top global tech stories of the day. selina? selina: get ready to add wework to the list of highly anticipated ipos in 2019. the shared office giant says that initially filed in december for what will be likely the second-biggest u.s. public offering of the year, just behind uber. just like some of this year's big name tech ipos, wework is losing money. losses exceeded $1.9 billion, while revenue came close to $1.8 billion

and when it comes to gscs and brexit, it's all the same.the end, trying to patch something up so people forget about it or thinking it's fixed means there's a bigger issue in the future and all this eventually will continue to affect the markets. carl, back to you. >> rick santelli, thank you. >>> when we come back, nearly half a million dollars, that's what the average american woman can expect to lose out on over the course of her career due to the gender pay gap. the first advising silicon valley on how to change those things will join us next. >>> of course, tomorrow, john's exclusive with ibm chief ginni rometty. the latest innovation from xfinity isn't just a store. it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get your questions answered by awesome experts store. it's a now there's one store that connects your life like never before store. the xfinity store is here. and it's simple, easy, awesome. >>> welcome back to "squawk alley. today is equal payday. 92 days into 2019,

the current level of support by the gfcs of construction financing and secondly if we stand up a new gsc, would you limit means to lay off mortgages so they can compete effectively be their own banks would you support those benchmarks the second, i would support that. but on the first, i'm not completely sure. but we will take into account your ideas. >> thank you, mr. secretary. >> gentleman's time is up. the gentleman from wisconsin, mr. stout is recognized for 5 minutes. >> thank you, secretary, for being here. first question kind of the role of large banks in our economy. the u.s. has large and die ma'am nappic economy producing many globally successful companies, businesses are world leaders in manufacturing, technology, consumer goods create opportunities for workers, families and downstream supplies. in southwest wisconsin, generating jobs, sustaining communities and investing in innovation. the u.s. is home to several large financial institutions that among other things provide the critical services to american companies engaged in global commerce that fulfill an important role i

the current level of support by the gfcs of construction financing and secondly if we stand up a new gsc, would you limit means to lay off mortgages so they can compete effectively be their own banks would you support those benchmarks the second i would support that. but on the first i'm not completely sure. but we will take into account your ideas. >> thank you mr. secretary. >> gentleman's time is up. the gentleman from wisconsin mr. stout is recognized for 5 minutes. >> thank you secretary for being here. first question kind of the role of large banks in our economy. the u.s. has large and die ma'am nappic economy producing many globally successful companies businesses are world leaders in manufacturing, technology, consumer goods create opportunities for workers families and downstream supplies. in southwest wisconsin generating jobs, sustaining communities and investing in innovation. the u.s. is home to several large financial institutions that among other things provide the critical services to american companies engaged in global commerce that fulfill an important role in our fin