maloney. thank you. >> thank you. i would like to ask mr. auer, i understand the criteria the council has established by regulation and statute, but i would like more clarity on the exact metrics that will be used in designating non-bank financial companies as sfis. for example, how much interconnectedness makes a firm a sfi. could you elaborate in this area? >> certainly. again, the multiple rounds of a comment that we received, there was a desire led to a development of a three-stage process. the first stage is based on publicly available data and easily call can you labl metrics in order to provide greater clarity to the public about the types of entities the council is likely to want to examine further in stages 2 and 3. however, the council is very clear that it wants to look in stages 2 and 3 on a firm by firm basis and the rule and guidance lay out a specific framework for it to do so. interconnectedness is one of the elements that the council will be looking at in stages 2 and in stages 3, but it is one of six broad categories of fra

maloney why that is. you said that is a nonstarter for the u.s. and the other european powers, to really suspend or delay these serious sanctions, why? >> there's a bit of brings man ship going on. the iranians are trying to give as little as possible and get as much as possible with respect to the sanctions which have already been dramatic in their impact on both the overall economy and the daily persons' life in iran. from the u.s. side there's a recognition we are on the cusp of the most powerful sanctions going to full implementation in just another month so to pull back at this stage would be both strategically unwise and have severe political consequences in an election year in which iran is featuring dramatically in the back and forth between democrats and republicans. >> warner: much to unfold, suzanne maloney and ambassador mouse save jahn, thank you very much. >> ifill: finally tonight, the golden gate bridge-- an icon of american engineering and architecture-- turns 75 this week. its impact, its legacy and even some of the controversy t

congresswoman shelley moore capital i toe is the chair of the subcommittee and carolyn maloney is the ranking member. >>> this hearing is called to order. i want to welcome everyone. this morning, the financial institutions and consumer credit subcommittee will examine the impact of being designated as systemically important financial institutions specifically for nonbank financial entities. but i couldn't begin the hearing without talking about the most topical subject of the day or of the week. there's no doubt that this week's news of jpmorgan's trading losses has raised significant questions about the supervision of risk within an institution. the story is still unfolding. and although it appears that the -- and seems to be that the firm had sufficient capital to absorb the significant loss, one of the questions i would ask is would a less capitalized institution survive a similar loss. are other financial firms that are deemed systemically significant sufficiently capitalized? where did the lapses in the internal risk controls within the firm occur? were federal financial regulat

collins and maloney are imp plying a group of men can't go away together and not try to bang anyone with100 feet. >> yeah, but that's true. >> jon: carolyn maloney is part of morning congress shl dell decontamination. they are 30% women in. the last three years alone they've about ferguson p twitter dick van patton and tickle me -- >> did i grope a male staffer? yeah, i did. i tickled him so he couldn't breathe. >> jon: so i guess without the influence of women there the whole delegation would descend into chai yois? it's the thought that women don't let loose what they are traveling as well as men? >> well, women have better focus in self control. fact! oh, okay. >> jon: what is that, sam? >> nothing. do not need to worry about that. >> jon: is that jessica? >> no. >> what'sçñr up? jon, it's amazing! >> jon: what are you doing? >> everything and everyone, jon! >> jon: donde etsa -- i'll tell you donde esta aqui. >> i have no idea what she's talking about. this is crazy, jon. >> jon: are you saying you don't know she's talking about? >> yes, because she was (bleep) up last night. jon, i

kaiser welcome back to the kaiser report time now to go to mike maloney he is the maestro here at gold silver dot com mike welcome to the kaiser report it's great to be here max thanks all right my here in my own office this is the nerve center for the the battle against the shysters now mike maloney everywhere we look in the financial system in the economy we see fraud greed just mistakes they prize funds austerity money printing are there any other reasons to own gold and silver well yeah every thirty to forty years the world has a new financial system the dollar standard is approaching forty one years old you can see these manmade systems blowing up right now in europe said in my book the euro cannot last you can't have all these different countries setting their own monetary policy and sharing one central bank it's not possible ok you mentioned europe let's talk about europe the euro is obviously under a great deal strain greece now openly talking about getting out of the out of the euro so how would this impact the global banking system because it might like another lehman brother

for that, i'm joined by suzanne maloney, who dealt with iran issues at the u.s. state department in 2005 to 2007. she's now a senior fellow at the brookings institution. and seyed hossein mousavian, a former iranian diplomat. he was on the nuclear negotiating team that agreed to suspend enrichment in 2003-- a deal later repudiated by tehran. he charged with espionage in 2007, but subsequently cleared. he is now a visiting scholar at princetouniversity. welcome to you both. mr. mouse save jahn, how serious are today's developments? is there a serious mismatch in expectations here? first of all, i should give you a brief on what they agreed in istanbul a month ago. in istanbul they agreed to have a package as a facsaving sotion. thprincipalsf the package was to find a solution within the n.p.t. in the framework of n.p.t . the second principle they agreed was reciprocity. the third principle they agreed was mutual confidence building and the fourth was a broad package to be implemented step by step. the problem now today in baghdad is that the package, the p5 plus o

maloney. thank you. >> thank you, and i'd like to ask mr. auer, i understand the criteria the council has established by regulation and statute. but i'd like more clarity on the exact metrics that will be used in designating nonbank foreign ministers is saifis. how much interconnectedness makes a firm a sifi? could you elaborate in this area. >> again, in the multiple rounds of public comment that we received, there's a desire to led to development of a three-stage process. the first stage is based on publicly-val indicated data and easily cal kulable metrics, in order to provide greater clarity that the public, about the types of endits that the council is going to want to examine further. the council is very clear that it wants to look in stages two to three, on a first by firm basis. a specific framework for it to do so. interconnecteds in is will of the things that the council will be looking at. >> one of six broad categories of frameworks, the others are size, substitutability, leverage. >> how did you find interconnectedness? >> there

maloney, for the purpose of making an opening statement. >> first of all, i want to thank you, madam chair, for calling this hearing and i welcome our witnesses. this hearing today is about a very important set of issues designation of nonbank companies as systemically significant. and there's a lot of per spektives and issues that have been raised. if there was one area we learned from the financial crisis in 2008, was that the regulators did not have the tools to regulate complex interconnected nonbank companies like aig. and did not have the ability to wind down these companies in the event of a failure without disrupting the system and without taxpayer funding. as a result, these highly interconnected over-leveraged firms nearly brought this entire country and its financial system to its knees, and it was quickly recognized that key supervision for these nonbank areas was missing. we did two important things in dodd-frank to address this. by eliminating the hiding places from regulation and ending too big to fail. first we gave the fsoc, the financial stability oversite council t

your question in some regards addresses miss maloney's question. which is under a single mandate could the fed intervene in times of emergency. the answer is absolutely, yes. they would still be the lender of last resort. still provide liquidity to those banks frankly that aren't just having liquidity problems. they have the ability to increase or decrease the interest rates to tighten or loosen money supply. they would still be under a single mandate to have the ability to intervene in very unusual situations. what they would not be allowed to do is to continue to intervene far beyond that financial crisis which again is contributing to the uncertainty today. >> it would seem that looking at the last 20, 30 years that their ability to impact our economy is greatly exaggerated on both ends. it would seem to me that they can nibble around the edges on those things. if they actually had the ability to control unemployment, we wouldn't have the situation we have today. if they control inflation, i don't think we would have had some of the situations w

>> the answer is yes, in some regards, addresses miss maloney's question. under a single mandate, focused on the purchase power of the dollar, could the fed intervene? yes. they would still be the lender of last resort and provide liquidity to those banks and still have liquidity problem but are solvent and ability to increase or decrease interest rates to tighten or loosen money supply. they would still in a single mandate have the ability to intervene in certain situations. what they would not be allowed to do, continue to intervene far beyond that financial crisis again contributing to the uncertainty today. >> it would seem that looking at the last 20, 30 years, their ability to impact our economy is greatly exaggerated on both ends. it would seem to me they can nibble around the edges on these but if they actually had the ability to control unemployment we wouldn't have the situation we have today. if they control inflation we wouldn't have the situation we had over the last several years, as long as you have an economy rolling very stable they can twe

for $1.80 into off a hat had to sanchez was robbed by james maloney to end the inning and this courseive runs in the bottom of the eight to belittle been and they win the opener on the series 91. >>> the santa clara men's tennis team had a school record 21 wins this year the have a chance to add to that this weekend and make the first-ever appearance in the ncaa tournament. >>> i don't think i could find worse. to explain how happy we are. to find out that we got and today we're celebrating. it's an amazing feeling. like be accepted into the first time in santa clara history. >>> and time for the monday night top five. >>> and no. 5 the coyotes eliminated them to advance to the western conference finals for the first time in franchise history. member for they say mike is the first third baseman baseball in to look like it on that play. no. 3 toy parker thinks he's humphrey but devon harris chooses and down. haven't seen a rejection like dozens my junior prom. i never to the giants made three more errors tonight but please keep private clubs. and never won a lot this? we all have helpe

i yield five minutes to congresswoman maloney from new york. >> thank you very much. thank you for calling this hearing. i would like to ask mr. brady to respond to a statement from alan blinder in their paper of 2010. they argue that the federal reserves actions during the economic crisis were more powerful and effective than anything that congress did fiscally through the stimulus. i would argue that the fed's pursuit of the dual mandate contributed to avoiding an all-out economic collapse and helped fuel our economy. so i'd specifically like to ask my colleague, can you cite any example of how the dual mandate in any way hindered the recovery? most economists believe that it was helpful in the recovery. >> i think there are a couple key issues here. one, the fed's actions in the mid-2000s, keeping interest rates too low for long, helped bring about crisis they later intervened in. >> that happened during greenspan's days. >> we're talking the fed as it is today and its actions over the last four decades, truly. secondly -- >> but we're discussing it -- because i wa

predictability and the timing of the regulation and what i am hearing so far i know when ranking member maloney asked about timing, i really never thought i heard a good answer from either of you about timing which is a problem for the business owner, but also the certainty and predictability. those are things that concern me as we move down this path, not as much regulation but understanding where you're going. mr. gibson, title i of dodd-frank defines a non-bank financial company as a company that is predominantly engaged in financial activities. however, there has been some confusion over what it means to be engaged in financial activity. doesn't this confusion need to be resolved before fsoc can start designating non-bank financial companies for supervision by the federal reserve. >> the federal reserve has a proposed rule out for comment that would define the phrase in the dodd-frank act activities that are financial in nature which defines the set of non-bank financial companies that are possible to be designated. we issued a proposed rule in february of 2011. we received a lot of comment

because of tradition you know it's fall back on that anyway go back and watch our interview with mike maloney because we did cover this with him too and there were also some good charts and graphs we use to break it down that may help you out and i'm also sure we're going to be covering this again because it's interesting and as i said a popular topic moving on tony capone at twenty below me is his twitter handle tweeted me today and said jobs numbers of one hundred fifteen thousand does this mean the fed has their ticket punched for q e three now i don't have. a crystal ball unfortunately i'd love one and i don't know what the fed will do i need to call dr bernanke after the show but make no mistake the fed is already manipulating prices across the economy regardless of if where when we see q e three the biggest vampire squid as we just heard from jim grant in an interview has that effect a lesson. with. have with the way to virtually every single price and go your way for a couple more years. now you can catch up on a whole thirty minutes with mr grant and our recent interview with him just

maloney's question. which is under a single mandate, focus on the purchased power of the dollar, could the fed intervene in times of mercy for the answer is absolutely yes. there's to be the lender of last resort. still provide liquidity to those banks frankly are just a liquidity problem but are solvent and, of course, they have billy to increase or decrease the interest rates, to tighten or loosen money supply. so they would still be under a single mandate have a billy to intervene in very unusual and exigent situations. what they would not be allowed to do is to continue to intervene far beyond that financial crisis, which again is contributing to the uncertainty today. >> it would seem that, looking at the last 20, 30 years that their ability to impact our economy is real exactly on both ends but it would seem to me that they can nibble around the edges on these things, but if they actually had the ability to control unemployment, we would have a situation we have today. is to control inflation i don

joining me now is caroline maloney, a democratic from new york, and terri oneil, president of the nationalanization of women. this is the gop that says they care about jobs, but tell us what actually happened today. >> well, it was just the same old same sold old going to the to bash women and bash their access to choice. they passed at least 20 bills that put obstacles in front of or limit a woman's access to choice, but they have not come to the floor and supported and infrastructure bill to put people to work or supported the president's budget or had a budget deal or jobs deal to work with people and put them to work. instead, they have come in with a sweeping agenda that has attacked women's rights and all kins of directions. it is sweeping in it's scope, appalling in it's indifference, and i would say outrageous in it's arrogance towards women. >> now, terri, this was laid out explaining the gop and why it keeps introducing anti-choice bills, today talking to tamron hall, let me show you this. >> i spoke to an aide today, and they told me look, we have to feed our rank and file red m

i get five minutes to congresswoman maloney. >> i would like to ask mr. brady to respond to a statement from the argued that the federal reserve's actions in the area of monetary policy during the economic crises were more powerful and effective than anything that congress did escalate through the stimulus. i would argue that the pursuit of a dual mandate contributed to avoid being in all out of economic collapse and helped fuel our economy. i specifically but like to ask my colleagues, can you cite any example of how the demand day in any way hinders their recovery? most believe that it was helpful and recovery. >> i think there are a couple issues. the actions in the mid-2000's, keeping the interest rates too long help bring about crisis that they later intervenes. >> that happened during greenspan. >> often the fed as it is today is over the decades >> we are discussing it. we're looking at the recovery, the actions that took place by bernanke and others. you're saying the interest rates were too low. with keeping it high to avoid inflation have been a

sarasota police officers spotted paul and belinda maloney towing the girl in a toy car attached to theiruv by two dog leashes and say both grandparents were intoxicated. the little girl was sitting in the hot wheels car wearing a bathing suit. she wasn't even wearing a helmet. the grandfather was driving about ten miles an hour on a paved access road. fortunately, though, the child was not hurt. who spiked grandma and grandpa's prune juice. >> the grandparents were intoxicated. >> it's a crazy world. are you kidding me? oh, man. >> thank goodness no one was hurt. >>> here's your wednesday weather, hail, gusty winds and chance of tornadoes from omaha to des moines, minneapolis and chicago and detroit. also stormy around pittsburgh and d.c. scattered afternoon thunderstorms from tallahassee to biloxi. in the pacific northwest, showers. >> you know it's biloxi. near 60 in seattle. boise and billings, phoenix at 90, albuquerque, ten degrees less, 80. 61 here in the big apple. >> well, there's nothing like a new hairdo to make anyone or anything feel a little bit better. check these out. >> y

-- virgil maloney, is coming, and can finally rest in peace.on our country, but here is what i say. as anyone heels, the tissue around it becomes tougher and stronger than before. in this sense, and finally, we might begin to see the true legacy of vietnam. because of vietnam and our veterans, we use american power smarter, we honor our military more and we take care are veterans better. because of the hard work in vietnam, because of you, america is stronger than before. [applause] finally, on this anniversary, and all the years to come, let us remember what binds us as one people. this is important for all of us, whether you fought in the vietnam war or fought against it or whether you were too young to be shaped by it. it is important that our children understand the sacrifices that were made by our troops in vietnam. for them, it's more than just a name in the history books. it is important we know of the lesson of a gift will once left at this memorial. it was toward the end of the day and most tourists and visitors had departed. there it

maloney. the speaker pro tempore: the gentlelady from new york is recognized for 1 1/2 minutes. mrs. maloney: i thank my great friend and colleague from the great state of new york for yielding me the time and for her leadership in so many important areas before this congress. and i rice in strong support of the -- rise in strong support of the export-import bank re-authorization act. i would also like to commend the democratic whip, the distinguished leader, steny hoyer, for working with the other side of the aisle to bring this bill to the floor today with a three-year re-authorization and an increase in the ex-im bank's exposure cap. i hope that we'll see more types of cooperation on important legislation on both sides of the aisle as we have seen on this bill. the ex-im bank has provided $32.7 billion in financing and supported 290,000 jobs across our great country. 80% of those companies that were supported were small businesses and at no additional cost to the taxpayer. it is critical to america and critical to districts such as mine in new york. the bank has financed $1.7

michael maloney is the head of the women's mental health treatment. >> we're dealing with a group ofl health services that are effective in the community. so many of them drift down to the point that they get arrested. >> with 300 to 450 women receiving mental health treatment in the jail every day, officials must rely on group therapy programs to help the inmates learn how to deal with their problems when they leave jail. >> explain that to me. >> stay off drugs if you're young and you're basically trying to be somebody in life. leave those drugs alone because if you're on drugs you can't cope. >> it sounds like all of you guys here are really seeing the impact of how drugs have influenced where you are today. >> drugs are not a coping mechanism. we have no coping skills. >> that's where i'd start over and turn myself in so i could end it all. i'm ready to quit. get away from it all. it gets old. >> inmate dina marie benz says jail provided the opportunity to come clean of the 15 years of drug addiction that threatened her and her three children. >> my 17-year-old, she understands.

maloney, the ranking member, for five minutes. >> first of all i'd like to welcome al all of the panelists, especially mr. wheeler whose company is headquartered in the great state of new york, and i want to compliment your many contributions to the economy and providing services to americans. during the financial crisis, we really had only two ways to approach a troubled institution. we could either let it fill, which we did with lemon, or with a braille it -- bail it out which we do with aig. need alternative with a particular good one. what we try to be in the wall street reform act was to have other tools to regulators not only manage large institutions and hopefully make sure they don't fail, but in the event that they did we would have away to structure it like we had with the fdic which i think did a brilliant job in structuring failing banks and putting them with stronger ones, and really managing the economy in a way it was less disruptive. and so, that is what we did. and during the time we did have a lot of debate over insurance companies. many insurance companies testified. i d

family from arkansas. 43 years after he went missing, we can announce that the army captain, virgil maloney on our country, but here is what i say. as anyone heels, the tissue around it becomes tougher and stronger than before. in this sense, and finally, we might begin to see the true legacy of vietnam. because of vietnam and our veterans, we use american power smarter, we honor our military more and we take care are veterans better. because of the hard work in vietnam, because of you, america is stronger than before. [applause] finally, on this anniversary, and all the years to come, let us remember what binds us as one people. this is important for all of us, whether you fought in the vietnam war or fought against it or whether you were too young to be shaped by it. it is important that our children understand the sacrifices that were made by our troops in vietnam. for them, it's more than just a name in the history books. it is important we know of the lesson of a gift will once left at this memorial. it was toward the end of the day and most tourists and visitors had departed. there it

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. >> my time is up so i am going to go to miss maloney. >> i would like to ask mr. auer, i understand the criteria aaron established but i would like more clarity on the exact metrics that will be used in designating non-bank financial companies. for example, how much interconnectedness makes a firm? >> in the multiple rounds of public comment we receive, there was a desire to have a three stage process. the first stage is based on countable metrics in order to provide greater clarity about the types of an entity is the council is likely to want to examine further. however, the council wants to look at stages two and three on a firm by a firm basis. there is a specific framework to do so. interconnected this is one of the elements the council will be looking at. it is one of six broad categories of the framework. the others are size,

maloney. >> first i would like to thank the chair lady capito for holding this hearing. one in the series on the future of mobile payments, and the financial system and thank future of the panelists for joining this morning. the hearing will serve as a great first step and learning session on this rapidly evolving technology. ausley feel that this is another example of american exceptional was some of coming up with an innovative idea and an efficient idea that keeps america moving forward employing more people, becoming more efficient, and making us an even stronger country. i'm excited about this idea come and i really look forward to hearing from all of your testimony. mobile payments in the united states expect to generate 215 billion by the year 2014, 43 million adults in the country use alternative financial services to as a form of banking, and as the technology continues to move forward, it creates innovative and exciting opportunities for everyday citizens at home and at work. the possibilities are truly endless. we are seeing what technology can do for consumer

all right. .chairman capito, ranking members maloney, members of the subcommittee, thank you for the opportunity to discuss the financial stability oversight council's rule and guidance for identifying nonbank financial companies subject to enhanced standards and supervision by the federal reserve. in the 2008 financial crisis, financial distress at certain nonbank financial companies contributed to a broad seizing up of the national markets. to address potential risks posed to u.s. financial stability by these types of companies, the dodd-frank wall street reform and consumer pro tksz authorizes the counsel to determine that will certain companies could pose a threat to u.s. financial stability and would be subject to the oversight of the federal reserve and enhanced standards. although the dodd-frank act outlines substantive considerations and requirements for designating nonbank companies, the council elected to engage in a rule making process in order to obtain input from all interested parties and to provide increased transparency to the public. to these ends, the council provid