when an institution supervisory rating or capital adequacy is downgraded, the institution is subject to a variety of supervisory responses intended to encourage management to take prompt action. these supervisory actions may include specific criticisms of risk management practices, formal or informal enforcement actions, and orders to raise capital or seek merger partners that can bring in new capital and management expertise. under the current arrangement, should the condition of the institution deteriorate, the fdic begins its resolution planning process in conjunction with the ongoing supervisory process and in close coordination with the primary supervisor of the institution. this would include undertaking a deposit insurance download for deposit insurance purposes, and developing a detailed resolution plan for the institution. the goal, as i indicated, is to have an integrated process of supervision and resolution, that will hopefully avoid closure of the institution, but that will enable the fdic to prepare to carry out an orderly resolution, if necessary. in such a process, mo

these institutions the props the plates i'm afraid people will see american activities more risk than opportunity. and we do risk. nationalism and protectionism and this brings me to the question of accountability you're calling for a global solutions one thing that people are wary of when you talk about addressing some of these issues globally is that issue of accountability how do you have global institutions that the accountable when many countries can't keep their own governments accountable just look at greece a country of ten million people you have people out burning athens literally and they still don't have any impact over what parliament is doing. well i think in democratic systems we have to rely on the democracies to deliver accountability it's widely important citizens are informed that they exercise their democratic rights and they get governments that they vote for or don't vote for so that is the system of accountability it's the best we know yet of course at the global level this gets much more complicated because we don't have the same sort of operating system at the

of this systematic violations of other institutions. we have never been able to acquire additional property for student housing and we do not foresee having this ability in the near future. we anticipate no growth in our housing program. we own one building at 800 chestnut street that serves as our main campus. we lease other buildings for student housing and in acquiring leases, we have never thought to lease a building that would displace permanent residence. we have sought and the hotels and hostels and we make no profit honor student housing. we ask you would consider to propose amendments that will allow nonprofit institutions like ours to continue our housing program while achieving our goal of having oversight of institutions converting properties unchecked. thank you. >> i am the assistant director of student life at the san francisco art institute. if the proposed planning code agenda is passed without amendments to protect smaller institutions like my colleague just discussed, it will put our housing program at risk. the progr

and europe necessarily at what cost for these institutions moving forward. i think the first cost is that we cannot be guaranteed that we're going to get the best possible candidates business situations face immense challenges makes trini important for the world with the world faces many great challenges and it's vitally important that we get the best person for the job i think neither the european union or the u.s. would be so presumptuous to assume that the best candidate would be from either of those two events that might well be that in a competitive search u.s. and european union citizen would emerge as the best continent but that cannot be assumed from the forefront the second thing that of course is lost in the process is legitimacy when all the countries of the world all of those two are clamoring for a competitive search when the citizens of the world do you know this is the right thing to do i think the institutions lose legitimacy by not applying transparent rules so there's a major question about i think we need the right person and i think it wi

when in institutions supervisory reading our capital adequacy is downgraded, the institution is subject to a variety of supervisory responses intended to encourage management to take prompt action. the supervisory actions may include specific assistance of risk management product says formal or informal enforcement actions and orders to raise capital or seek merger partners that can bring in new capital and management expertise. under the current arrangement should the condition deteriorated, the fdic begins his resolution planning process in conjunction with jan going supervisory process and in close coronation with the primary supervisor of the institution. this would include undertaking could insurance download for the positive insurance purposes and developing a detailed resolution plan for the institution. the goal is to indicate it is to have an integrated process of supervision and resolution that will hopefully avoid closure at the institution, but that will enable the fdic to prepare to carry out an orderly resolution is necessary. in such a process, motivated by the credible t

the art institute has raised the issue of smaller institutions because they are not in a position to build new housing. could i get your response to those issues? >> we feel the first piece of legislation had in it monitoring and reporting by the mayor's office of housing, annual reporting, the schools were required to provide the names of students occupying qualified student housing and of the hammer over this is if you are out of compliance, you are subject to inclusion area fee. that is a significant penalty if you are going to try to game the system. the interest was how to prevent just that -- five years down the road it turns out someone else's living in it. we think the controls are there and are clear and appropriate. i think there are some valid views and i would say to the extent it could be made more flexible because there is no one type of school, different types and sizes of schools can't enter into agreements to satisfy their housing needs, may get as flexible as possible. as far as the art institute, we have heard there are some excellent instances in which you could a

and that has been honed at least 10 years by that institution. that said, i have distributed the amendments and when we're done, i will be asking the committee to adopt the amendment. my understanding is we will need to send this back to the planning commission. miss haywood from the planning department is here if you like to address the committee. >> the goals of the proposed legislation are to propose new student housing while protecting the existing housing stock. the department will first and foremost have a definition of student housing applicable across the planning code but will also have the means to control the loss of housing through its conversion to student housing. in december of 2010, the mayor signed an ordinance exempting student housing from inclusion rehousing fees. when housing is providing to students who have demonstrated some financial need. when that was considered, it directed staff to develop a comprehensive definition of student housing that could be used throughout planning code for clarity. this effort came out of that

it was originally a private institution.nd overtime tarks quired some of the functions of a central bank such as issuing money or serving as lender of last resort. but over time, the -- these central banks became essentially government agencies, government institutions as they all are today. certainly one important responsibility of central banks for much of the period that i'm talking about was to manage the gold standard, to issue paper money that was backed by gold. and i'll talk more about gold in a few moments. now the lender of last resort function, which i mentioned earlier became important in the -- mostly in the 19th century, nearly the 19th century. the bank of england was doing a lot of this type of activity. and they became very good at it. and as we'll see while the united states was suffering with banking panics in the latter part of the fleenth century, banking panics in the united kingdom were quite rare. so the bank of england sort of set the pace in some sense. it was the most important central bank and it

we're dealing with all institutions top to bottom. we do have open matter is we're looking at involving larger banks, smaller banks, and non- banks. >> you'll have been looking at the books and records of some of the largest banks. what can you say about what you're finding that might be different from what other bank regulators are finding? have you started looking at non- banks? >> we have. we have examiners on the ground at banks and non-banks as we speak, even though our non-been program was hampered by not having a director until january. therefore, a far away a little bit later. what is interesting about our role in examining and supervising these different financial institutions is two things. one, we can address those banks and non-banks. you markets where, before, only banks were catbird by the standards and examined to imply with those. non-banks were competing in the market and taking some market share and growing it. they did not have any oversight whatsoever. many of the bad practices originated and/or accelerated in that

because the national institutes of health are really the national institutes of hope in alzheimer's, there's going to be a medical disaster coming. all the things that we have cured have us living so long, that we have a large amount of people in homes with alzheimer's. it will cost us a fortune. in the affordable care act, i was able to include language for an independence at home pilot project. and there are now more than three times as many applicants, that are medical institution that are applying for those slots in order to conduct this experiment. i would like to draw to your attention the fact that the va has already had a wildly successful program that handled 11,000 people in it that reduced hospital stays by 60% and nursing care days by 80%. and so, i appreciate all of your efforts in this area, but i think it could help us to telescope the timeframe that it will take us in order to put together a program to keep people at home, share it with the institutions that are working hard in partnership to keep them at home, making the patients and their families better able to dea

and they are used frequently by institutional investors like pension funds. so a pension fund with $30 million in cash probably wouldn't put that into a bank bee insured, there's a limit to how much deposit insurance co pensi instead of putting a cash in the bank is put the money in a money market fund which promise $1 for each dollar put in plus a little bit of interest on top and invest in very short term safely quid type d so it's a pretty good way to manage your cash if you're an institutional investors of some kind. so this investors putting their money into money market funds. now, as i said, money market shares are not insured. they do not have deposit insurance. but the investors who put their money into a money market fund expect that they can take their money out at any time, dollar for dollar. they treat it like a bank account, basically. the money market funds in turn have to invest in something and they tend to invest in safe short term assets like commercial paper. commercial paper is a short term debt instrument issued typically by corporations

are being delivered by institutions. agreements there, too. and there has been a lot of people shop for credit cards frequently. they are shopped for credit cards. they get it in the mail p i do as well. whether that will be boiled down so you can understand what exactly is the interest rate going to be. what exactly are the terms? what are the payment fees? what are the late fees. you can make comparisons. it will also help if people have trouble making comparisons. i think a lot of consumers did a lot of complicated things. it will help third parties to better compare products and set out for people, kind of like consumer reports does in the automotive realm. you can make your choices accordingly. we might be able to advise you given what your spending is, what your income is, what might be a prefer rabble product for you. if that is done in the private sector, a nonprofit sector, that makes things easier. >> you have possibly a lot of oversight over the financial industry. i want to ask you about the oversight over your agency. you know, a

institution in others. and there is no one that i know of that that evidence of loving this institution is greater than was demonstrated by john sullivan. the long-term -- the precedence of the house, the -- all of the things that go -- they're apart of, this institution that may give one of the most valuable legacies of our founding fathers, john has upheld those traditions and those long precedence in a very admirable way. so, john, thank you for the many chapters of your life that you have spent in service to this house of representatives. thank you for that and god speed in the many chapters of your life to follow this one. this institution is better for your long service. i'm a better member of congress for your service. thank you, john. i yield back. mr. dingell: mr. speaker, again, through the kindness of my good friend from ohio, i yield two minutes to the distinguished gentleman from massachusetts. >> i thank the gentleman and i thank the gentleman from ohio. mr. speaker, i thank both of the chairs

institutes of hope. in alzheimer's there is really going to be a mel katzify that hits this country when all the diseases we've been successful helping to cure lead to people living so long that half our population winds up in retirement with alzheimer's. it's going an absolute disaster, and it's going to cost us a fortune. and the second thing, madam secretary, is in the affordable care act, i was able to include language for an independence at home pilot project. and there are n

, banks, credit unions, thrifts, competing against nonchartered institutions that were not subject to any oversight whatsoever. and we want to make sure they are held to the same sorts of standards and principles and people are put on a level with one another. that's a big part of our job, it's something we're going to be -- it's a big challenge for us to do it, but we're working hard to do that as we go over the first few years of our existence. >> to establish a single regulator for protection, the federal regulators have nonetheless retained enforcement powers for the overwhelming majority of banks. if there is a risk that this will weaken protections for consumers or lead to confusion for financial institutions. >> i don't know that there should be confusion. i think for the vast majority of banks, as you indicated, and it's my understanding as well, they have remained subject to the same regulators they always have. for the large institutions, those with assets over $10 million, they will be overseen by us for consumer protection services and by their regulator for safety and sou

. >> and that could be a problem with -- for an institution or a lender. and that the same agreement in some cases, depending on just the ability of the consumer to understand or -- or focus on the agreement could determine whether it's abusive or not. for instance, under the continuation, and under the law, a financial institution could be liable any time a consumer simply doesn't understand a product or service. is that not correct? is. >> no, i don't think that's quite what the law says. i mean, it does speak of taking unreasonable advantage of the consumer. >> of their lack of understanding. >> that's right. but so i think that for an institution, if they're in a situation, they should be thinking carefully about whether they're taking unreasonable advantage of their consumer. and i think you often have a pretty good sense of whether you're doing that or not. maybe not always. and if so, you should hesitate and think again. and be careful that you're treating your customers fairly. i think with something good businesses think about every day. >> okay.

if it weren't clear enough for the typical person or institution involved, what about institutions -- and there are many of them -- which are self-insured? what about, say, the university of notre dame, catholic university, catholic institutions? it doesn't go to an insurance company to buy insurance. it's self-insured. so that word game doesn't even work on the surface there, and those cases number in the hundreds or thousands around the country. and that is a clear example of how that so-called compromise or accommodation is merely a sleight of hand and a word game. another argument which the other side has made in this debate, mr. president, is that somehow correcting this situation through the blunt amendment or through similar measures will shut down access to these services. that's just patently not true. these services, these medicines and other treatments, are widely available in every community across the country at little cost or no cost for folks who can't afford it. and that's not going to change. it's absolutely not necessary to tear away a religious liberty, violate cons

institutions that have technology to add, including u.s. universities and farmers groups. the program is now generating specific results. in haiti, we see de vries yields increase by 170%. in kenya, 90,000 house holes have experienced an income increase of more than $14 million on an annual basis. bangladesh for the first time in three decades has enough de vries to feed itself. overall since feed the future was launched, we have seen in the countries and agricultural productivity increase 5.8%, more than eight times the global average of 0.7%. because of a more structured and results oriented focus on nutrition, we see the rate of child stunting go down. it's those types of results that we hope to speak more about and deliver more effectively in a more transparent manner through the overall efforts and through these initiatives. i would like to close by thanking our staff. we have asked our staff to do extraordinary things and very challenging and often dangerous environments. we appreciate your mentioning the issue of how many staff have lost lives or our partners have l

are now in high positions in government but about this josh just because someone is in a quote institution or a quote a credit investor it doesn't necessarily mean that they're any snorter then an individual investor and the protections of institutional investors and a credit investors meaning wealthy people are significantly less than they are for other people it's assumed that well this guy's which in and he's adopt the reason lawyer or he runs a pension plan for a bank don't worry about him he'll take care of himself and of course that's never the case but i think the more important point here max is that there are the fundamental conflict and problem on wall street for the average american right now is this there are two standards of care the first standard of care at the traditional is what's known as a suitability standard meaning the product that i sell to a customer as they are broker or financial consultant or whatever i want to call myself does not have to be in their best interest it simply has to be suitable given the investors risk tolerance goals etc meeting i can tell them s

is national institute for health disparity, the second, the budget for the national institute for minority and health disparities is one of the lowest of all of the institutes. and that is despite the major initiatives that we have to eliminate health disparity. is there language in the budget or would you accept language to bring the national institute of minority and health disparity research on par with the other snu institu institutes? and i know that program was transferred to the institute but even if funding was not sufficient to support the research centers. so it remains under funded under the institute. so i -- is there language that would bring the national institute on minority and health disparity research on par with did others or would you be willing to accept that language? >> again, congress woman, i think you identified that the transfer with staff and budget has significantly enhanced this whole effort over where we were two years ago. it -- we would be happy to work with you around ideas and strategies for continuing improvement but there has been kind of a big move for

is managing is retail money at the end of the day if you're managing yes your institution but the people whose money is with you that's individual investors money that's people that are expecting to retire so i don't understand why there would be two different sets of protections whether someone's acquitted or institutional versus whether someone's retail so i think you and i one hundred percent agree there are you talk in the book about famous bucket shop d h blair which is a notoriety of austrade as being the inspiration almost for movies like boiler room where you have these brokers who are participating in a classic bucket shop scandals like pumping and dumping etc they of course went out of business but a pocket stop like goldman sachs stays in business wise that i think there are some pretty big differences between the the wire house firms and the penny stock comp and dumb firms of of the ninety's what i would tell you though is that the bucket shops are still alive and well there are a lot fewer of them because the regulations have tightened and made it harder for them to stay in

financial institutions we don't see any similar problem. >> thank you. that's one of the most important parts of today is to ask the questions that weren't asked in earlier times before what couldn't happen occurred. europe has a -- the euro zone has as economy, we'll call nominally our size. it has a debt, if i'm roughly right of euro conversion of about $14 trillion of sovereign debt. some countries actually have positives but we'll just look at their sovereign debt across the board. so it's fair for the american people, not the talented economists but the american people to say same size entity, similar debt to ours, not exact but similar. if that's the case, why is it that they're not being treated and this is a question for the american taxpayer, if you will, being treated much more like we treat our states, california doesn't look to greece or germany for a bailout. they look to -- they look to the united states federal government. in other words, we're internal. what is the justification for the american people to understand of a zone similar size

own excrement because jamie diamond thought he needed another yacht payment then that's on the institutional desk and everything's ok there just simply cameron more money so let's also look at this quote from california treasurer bill lockyer so he was interviewed about them doing business with j.p. morgan i haven't found an investment bank that hasn't had some problem and the last three years we do business with them at all i think they provide good service i think they've been highly ethical with us jamie diamond is the leper with the most fingers down there wall street people like doing business with them because of all the stink and whores that rip people off twenty four seven he's got the nicest i think it's look the bernie made off investors thought he was defrauding the markets but they thought they were making he was giving them a cut so they didn't mind here he's saying well you know they might have defrauded jefferson county but those are a bunch of hicks and rednecks down there where california where we want to have jamie diamond sort of guys he's not going to rip us off they just

institute of peace which is really a very close and trusted partner for the museum. one current initiative that we are working on with the usip which i would like to highlight is our joint working group on the responsibility to protect which is co-chaired by secretary madeleine albright and ambassador rich williamson and it's a bipartisan group. as some of you know the responsibility to protect is an important international new norm that's really aimed at making clear that all nations share responsibilities to protect our citizens from genocide, from war crimes, to crimes against mumanatee and we expect our cochairs to issue a report later this year about how to strengthen this norm and improve our capacity to prevent these crimes from happening. our subject tonight is a big one and one that i do believe relates to the issue of prevention because if one cannot -- if we can't deliver justice and accountability for the truly evil, how can we ever hope to teter would-be perpetrators in the future? yet, this is a problem that has vexed democracies and other nations since

has the institution changed? has washington changed? in these past three decades? >> all of the above. 9 institutional changed, washington's changed but the all of this polarization and inability to agree that people see in washington is a reflection, frankly, oft see, n. there's great polarization in the general populous. the media is e's ry little effo the part of the media to try to present any kind of balanced view of the issues being debated. so i polarization, and congress reflects that, and it makes it very difficult for us to agree on what steps to take. >> let me turn issues. one of our virus working to get new nuclear power plants for no low carbon energy. is this something you would support? >> i certainly support more nuclear power generation, but i think the thing that's holding that back now is the economics of it. it is very expensive to bailed new nuclear power plant. it is very cleep heap to bailebd a new gas power plant and gas, as cheap as it is, speaking natural gas here used for power generation, with that as cheap as it is, it's just not likel

que los hombres van al baÑo y dejar la tapa abierta, y eso saca de quicio ra national captioning institute(risas) n contact nci on the web at univi@ > bueno, honestamente... hay os despierta americ univision@ univision@@ captioning, despiev subtitling and descriptive de univisiods. despierta america this is a line 21 despierta am despierta amertest despierta a@ despierta amdespy the despiert@ national captioning institute a contact nci on the web at despi pedimos de buena manera ¿por quÉ insisten en no hacerlo? >> yo primero dirÍa que toda relaciÓn comienza como una luna de miel y luego se van poniendo piedras en el camino, pero no nos damos cuenta... los hombres pensamos diferente, despierta americaicaunivision@ national captioning institute univisioci on the web at despin

justice and society institute. meryl? >> thank you so much for that very kind introduction. i want to thank michael abramits for the conscious and the leadership of the museum for organizing this evening and on behalf of the walter isaacson and the aspen institute, i want to say how glad we are to be partnering with the museum and the institute of peace on this important event. but partnering on this particular subject comes to us naturally. i'm proud to say harold koh one of this evening's panelist was a regular moderator at the seminar for judges run for many years at aspen's wide river facility by our director, alice henkin along with her husband of columbia law school two proponents of the modern field of human rights and humanitarian law. some of the justice and society efforts are focused to the development of the rule of law around the world including in the arabian gulf and the arab spring countries and in the countries of the former eastern bloc and i want to observe that it is through the rule of law, thr

they've been bought and paid for by large financial institutions. >> right. i don't think it's entirely a corruption of human nature. people have always been inconsistent and greedy. but i think it's been the evolution of the political culture in which there have been so many bailouts, there has been so much abuse and misuse of government power for private ends and private gains, that now we have an entitled class in this country that is far worse than you know, remember the welfare queens that ronald reagan used to talk about? we now have an entitled class of wall street financiers and of corporate ceos who believe the government is there to do what is ever necessary if it involves tax relief, tax incentives, tax cuts, loan guarantees, federal reserve market intervention and stabilization. whatever it takes in order to keep the game going and their stock price moving upward. that's where they are. >> you were disaffected with the party of your youth, the republican party, because it has -- because it's become dogmatic on so many of these issues and no longer

institutional control is a second alternative. institutional controls are administrative or legal measures that can be implemented to minimize or prevent site user exposure to contaminants. an example would be deed restrictions on certain types of uses or mandatory worker health and safety plans for construction workers. alternative #three is combining institutional controls with installation of a durable cover over all of the soil at pier 70. alternative number four is soil excavation and off site disposal, which for the purposes of this analysis we assumed all of the shallow soil at pier 70 would have to be excavated and hauled off by truck to an apartment and fill. the fifth alternative is hot spot removals. excavations of areas where the contamination is concentrated and can be identified is different and more severe than the soil around it. so we evaluated each of those alternatives. nine of federally specified a valuation criteria, and six state-specified criteria, and also, using a fairly recently issued guidance document f

there is institutions, right, banking institutions, real estate institutions, political institutions, homeowners institutions, that make it very difficult to fight against these problems. there is rhetoric. there is the rhetoric of equality that robert self wrote about. what racism? we're not racists. so what there is no black people who live here and never have been and we don't want them, but we're not racists, we're homeowners, we just want freedom. we're just individuals, just individual freedom loving people. we're not racist. we're not pot bellied red faced sheriffs. look at us. we're don draper. we're not racists. there is that rhetoric. how do you fight against that? how do you fight against historical structures of inequality? how do you fight against political inequality to influence outcome? how do you fight against a rhetoric of individualism and individual rights? how do you point out that racism exists and it affects structures and societies if people can't see or don't want to see that the racism is there? how do you do that? that's the problem that activists in the nor

and this is not an area of controversy i think for financial institutions under our purview. they understand that law. their concern to us that they expressed is we not go deviating from that in some unexpected direction, which we do not intend to do. >> do you have a definition of personal responsibility? >> that is not a defined term

in addition, we have a number of african-american religious institutions that spring up around the city, especially as they feel that they're not getting proper treatment by white ministers in other kinds of churches. one of the pet peeves they had during this period is when there would be a baptism and you'd bring your child forward to have it baptized by the priest, the priest refused to handle the child. you'd sprinkle water on him and do all the right things but not hold the child. this was galling to african-americans. they felt this is not the place they wanted to be. this was not the kind of religious institution that would best serve them and their needs and their understanding of what religion should be all about. so as a consequence, you begin to have a number of african-american religious institutions springing up in the city during this time period. the first of these churches to emerge is mt. zion negro church in georgetown founded in 1814. it's followed by israel beth colored methodist episcopal church located on capitol hill in 1820. and even closer to our location, the m

in it we're not a republican institution and the sister organization the democratic institute as well't seek to pick winners and loser in the places we work and don't have an ideological agenda and we try to advance democracy by working with political parties and civil society groups and particularly in egypt where you have all these new political parties formed at the fall of mubarak and candidates running for office that were never office holders before or campaigned before and we tried to be an added value in the sense we're trying to impart international best practice and bring in political consultants with people with experience i am part what best practice is and we're not trying to pick winners around losers just trying to support the democratic process. >> with the government changing as it is in the troubled times signaled to you they wanted you to back off or not do certain things while you were in egypt? >> in the time i was there, i was there a year and a half before mubarak stepped down and after and i had half a dozen meetings and aplayed for registration in 2006 and tol