no, mr bond, i expect you to die!ad no awareness of that scale of reverence and pressure and what have you, and ifound it a bit of a nightmare. my name is pussy galore. i must be dreaming. they weren't used to writing a woman who is the equal of a man. and it really did, i think, advance feminism. well, judging by the letters i got. isn't it customary to grant a content man his last request? you asked for this. she wasn'tjust physical, she was also pretty well equipped. intellectually, she was as clever as a man. computers... she was very self—sufficient. you're full of surprises, contessa. so are you, mr bond. do you always arm yourself for a rendezvous? the lords in westerros are sheep. are you a sheep? no, you're a dragon. # lean on me, when you're not strong and i'll be your friend # i'll help # you carry on for it won't be long till i'm going to need someone to lean on... # ain't no sunshine when she is gone, it's not warm when she's away, ain't no sunshine when she's gone, and she's always gone to long any time

no, mr bond, i expect you to die!

james bond wouldn't be seducing anybody if he lived in that apartment. ( bond girl ) no, mr. bondi will not be giving you the secret code. your kitchen is a hotplate, bitch. moving on to the coronavirus pandemic. it's the other reason you can't get into the club. even though vaccines are starting to roll out, we can still save tens of thousands of lives by wearing masks and social distancing until everyone has immunity. so, please, remind all your friends and co-workers about this. although, there's reminding and then there's whatever tom cruise did. >> tom cruise reportedly let his covid concerns be heard loud and clear while filming the new "mission: impossible" movie in england. in an audio obtained from "the sun" tabloid, which has not been authenticated by abc news, cruise was reportedly furious with staffers for ignoring safety protocols. >> i don't ever want to say it again, ever! and if you don't do it, you're fired. and if i see you do it again, you're (bleep) gone. and if anyone on this crew does it, that's it! and you, too! and you, too. and you! don't you ever (bleep)

no, mr bond, i expect you to die!ound it a bit of a nightmare. my name is pussy galore. i must be dreaming. they weren't used to writing a woman who is the equal of a man. you have a very disarming nature! and it really did, i think, advance feminism. well, judging by the letters i got. isn't it customary to grant a condemned man his last request? you asked for this. she wasn'tjust physical, she was also pretty well equipped. intellectually, she was as clever as a man. computers... she was very self—sufficient. you're full of surprises, contessa. so are you, mr bond. do you always arm yourself for a rendezvous? the lords in westerros are sheep. are you a sheep? no, you're a dragon. # lean on me, when you're not strong and i'll be your friend # i'll help you carry on for it won't be long # till i'm going to need someone to lean on... # ain't no sunshine when she's gone # it's not warm when she's away # ain't no sunshine when she's gone # and she's always gone to long any time she goes away... # does an angel contemplat

was the original james bond prop handgun from dr no that was the very 1st bond movie which of course starred the late great mr sean connery the iconic p.p. k. was estimated to fetch between $150.00 and $200000.00 but eventually she went to an anonymous buyer for $256000.00. no sign of the latest james bond movie yet but a new film called manga starring gary oldman comes out this weekend netflix it's the story of how hollywood screenwriter herman mankiewicz wrote citizen kane which is often regarded as the greatest film ever made and he wrote it despite being drunk dissolute oldman is said to be brilliant in the title role. and that rounds up this edition of culture a lot small stories as ever on our website at d.w. dot com slash culture also do check out d.w. books and d.-w. classical music on you tube they are worth visiting thanks for watching and until next time i'll read is a good book. i'm not laughing at the germans well i guess sometimes i am but less than nothing with them and i don't think deep into the german culture. knew that scene from take this ground they all eat because it's all that they know

was the original james bond prop handgun from dr no that was the very 1st bond movie which of course starred the late great mr sean connery the iconic violet a p p k was estimated to fetch between $150.00 and $200000.00 but eventually she went to an anonymous buyer for $256000.00. no sign of the latest james bond movie yet but a new film called manga starring gary oldman comes out this week and netflix it's the story of how hollywood screenwriter herman mankiewicz wrote citizen kane which is often regarded as the greatest film ever made and he wrote it despite being drunk dissolute oldman is said to be brilliant in the title role. and that rounds up this edition of arts and culture lot small stories as ever on our website at d.w. dot com slash culture also do check out d.w. books and d.-w. classical music on you tube they are worth a visit thanks for watching and until next time i'll read is a good book. to the point of strong opinions clear positions of international perspectives. can the fragile peace just declared in ethiopia the great prophets be sustained ethiopia's prime minister i'll be adding that fro

bond prop. from dr no i was a very 1st ball movie which of course star bill 8 and great mr sean connery the iconic violet of p p k was estimated to fetch between 150 and 200000 dollars but eventually she went to an anonymous buyer for $256000.00. no sign of the latest james bond movie yet but a new film called manga starring gary oldman comes out this week and netflix it's the story of how hollywood screenwriter herman mankiewicz wrote citizen kane which is often regarded as the greatest film ever made and he wrote it despite being drunk dissident oldman is said to be brilliant in the title role. and that rounds up this edition of culture a lot small stories as ever on all websites at d.w. dot com slash culture also do check out v.w. books and d.-w. classical music on you tube they all work visit thanks for watching and until next time i'll visit is a good book. call on the road with our superheroes my mission is clear. and sunny clearly explored germany. they died to. take everything out there's a lot going on in. germany tried and tested again. on . what secrets lie behind. discover new adventur

bond prop. from dr no that was the very 1st movie which of course starred the late great mr sean connery the iconic violet a p p k was estimated to fetch between $150.00 and $200000.00 but eventually she went to an anonymous buyer for $256000.00. no sign of the latest james bond movie yet but a new film called manga starring gary oldman comes out this week and netflix it's the story of how hollywood screenwriter herman mankiewicz wrote citizen kane which is often regarded as the greatest film ever made and he wrote it despite being drunk dissolute oldman is said to be brilliant in the title role. and that rounds up this edition of arts and culture lots of all stories as ever on our website at d.w. dot com slash culture also do check out d.w. books and d.-w. classical music on you tube they are worth a visit thanks for watching and until next time i'll veto is a good book. eco africa. they have a bad reputation but they play a key role in the ecosystem. which is a very much important in cleaning up the environment we call them nature has undertaken many species are endangered a project in kenya seek

pay for those vaccines and then also ensuring that goes out and mr intruding into remote locations across india just one final question dr bond when these new vaccines whichever they may be even they be effective against new strains of the vitus such as the ones that are evident in the u.k. and south africa. yes a one would hope so i mean i think that's a concern but so far the indication is that the vaccine should hopefully be able to cover these streets we ought to have an actual experiment happening in the u.k. because you have obviously these new strains and also vaccines already i.e. that in china contracts are already being administered at last so if there is a concern it should come through in the u.k. don't survive experiences they had over the next few weeks and that should flag issues i don't know if it gets the and street companies but that is also something that india would have to keep a close watch on this would you know excel winnings to about because i thought it strange that we are keeping track of those who were vaccinated and we got to see if you know if it is on bond thank you so much for speaking to us yo

for those vaccines and then also ensuring that goes out and mr intruding into my remote locations across india just one final question dr bond when these new vaccines whichever they made me will be effective against new strains of the vitals such as the ones that are evident in the u.k. and south africa. yeah so one would hope so i mean i think that's a concern but so far the indication is that it actually should hopefully be able to cover these streets we ought to have an actual experiment happening in the u.k. because you have obviously these new strains and also vaccines already either into any contracts already being administered at last kids or if there is a concern it should come through in the u.k. don't survive experiences there over the next few weeks and that your flag issues i don't know if it gets the and street companies but that is also something that india will have to keep a close watch on as will genomics the winnings to public health effects to it so that we are keeping track of those who are vaccinated and we are proceeding if it is on the ground thank you so much for speaking to us. as of overfishing have

to know it was the very 1st bond movie which of course starred the late great mr sean connery the iconic p.p. k. was estimated to fetch between $150.00 and $200000.00 but eventually she went to an anonymous buyer for $256000.00. no sign of the latest james bond movie yet but a new film called man starring gary oldman comes out this week and netflix it's the story of how hollywood screenwriter herman mankiewicz wrote citizen kane which is often regarded as the greatest film ever made and he wrote it despite being drunk dissolute oldman is said to be brilliant in the title role. and that rounds up this edition of culture a lot small stories as ever on our website at d.w. dot com slash culture also do check out v.w. books and d.-w. classical music on you tube they are worth visiting thanks for watching and until next time i'll read is a good book. eco africa. they have a bad reputation but they change the role in the ecosystem. which is a very much important in. the environment because the new trends and the take on many species are endangered a project in kenya seeks to protect the unloved

memorabilia in hollywood on thursday was the original james bond prop handgun from dr no that was the very 1st ball movie which of course starred the late great mr sean connery the iconic viles a p p k was estimated to fetch between $150.00 and $200000.00 but eventually she went to an anonymous buyer for $256000.00. no sign of the latest james bond movie yet but a new film called manga starring gary oldman comes out this week and netflix it's the story of how hollywood screenwriter herman mankiewicz wrote citizen kane which is often regarded as the greatest film ever made and he wrote it despite being drunk dissolute oldman is said to be brilliant in the title role. and that rounds up this edition of culture a lot small stories as ever on our website at d.w. dot com slash culture also do check out d.w. books and d.-w. classical music on you tube they all work visit thanks for watching and until next time i'll veto is a good book. w.'s crime fighters are back then a little africa's most successful radio drama series continues to all of us odes are available online and of course you can share and discuss on w. africa's facebook page and other soci

pay for those vaccines and then also ensuring that goes out and mr intruding into remote locations across india just one final question dr bond when these new vaccines whichever they may be invalid be effective against new strains of the vitus such as the ones that are evident in the u.k. and south africa. piazza one would hope so i mean i think that's a concern but so far the indication is that the vaccine should hopefully be able to cover these streets we also have an actual experiment happening in the u.k. because you have obviously these new strains and also vaccines already i know that in china contracts are already being administered at mosques so if there is a concern it should come through in the u.k. don't survive expedience as they had over the next few weeks and that trip flag issues i don't know if it gets the and straight companies but that is also something that india would have to keep a close watch on which would you know excel in and took out because it puts to it so that we are keeping track of those what actually did and we're not perceived inefficacy on the bomb thank you so much for speaking to us. as of

some of the street bond is being paid with federal money, and the feds have debarred that person. do we then debar them as well? >> mr. givner: not sure if this is a question for me or for mark who might know more about the process how we track federal debarments? >> yeah. from the controller's office perspective, commissioner bush, so there is a step in the city's procurement process, whereby a new contract is let and entered into our financial system, there is a let that is currently being done to check and see if they do appear on that sam.gov website, which is the website that's maintained by the u.s. general services agency that lists all the federally suspended and debarred contractors. and so there is that check that happens at least before things are let or paid, it was in the city's system. how it's included in the review of the contractor in the definition of a responsive or responsible bidder, i am unsure about how that is -- whether there is a check that happens at that juncture to see if the contractor that's bidding on a contract appears on that list. >> commissioner bush: okay. thank you for that. the

mr. lazry was one of the guys that got me interested in this trade. i bought the bonds they were about 11.5, 12% yield. they're down to 5 right now. >> wow >> 5 and when they're doing new offerings, they don't have to tie it to any of those boats or anything like that these are unsecured loans now, shows you how much it's -- people are looking into the future as far as recovery here and it's still half of where it was, you know, when things weren't in pandemic form like they are now, morgan so i think both those stocks could do exceedingly well and you could get some real outperformance from those in 2021 >> certainly speaks to the i guess big are discussion we've been having about just how much pent-up demand is going to be out there for people to basically hit the skies and hit the water. we only have a few hours left to trade in 2020. frank holland is looking back at the best and worst performing s&p 500 sectors. frank. >> 2020's top performing sector is right alongside the worst performing sector for 2020, at least for december energy's 5% gain is especially notable

bonds not doing much. i do want to point out turkish lira giving us some news flows. this is a new mr. erdogan making very clear he will defend libra, -- defend lira. what is your snapshot of what is going on in washington? it is chaos. lisa: what i think is the most important take away is the ure between president and republican leadership. is mitch mcconnell going to override two vetoes of president trump's? what does that do for the georgia elections? it raises the question of whether the republican party is breaking away from the president. tom: an active christmas eve in washington. we will have coverage up through david westin's "balance of power." he has been a wonderful advantage to us this year. patrick armstrong is with plurimi wealth, and is exceptionally thoughtful of dovetailing the big picture into what to do with capital. let me start narrow, patrick. what is the what to do with capital into 2021? patrick: i think you've got to stick to taking risk. you can't be too conservative because central bank policy is punishing you. you've got inflation swaps showing an upward tr

mr. reed was arrested and later he was released without posting a bond.sed. >> the way in which linda schlueter was attacked really lent itself to the police narrative of how stacey stites was attacked. >> rodney reed surfaced as a suspect wholly and exclusively because he tried to abduct linda six months after stacey's murder and a detective told the ranger about the case. and the ranger heard it and said, oh, my god, that sounds like the stites case. >> rocky wardlow, the lead investigator from the texas rangers, he's wondering, do we have rodney reed's dna on file? and it turns out, they did have a sample of rodney reed's dna in the system. >> because he had been involved with a woman in 1995, in some sort of a relationship. >> and she alleged that rodney reed had sexually assaulted her in her apartment. i responded and conducted a crime scene investigation. >> she ultimately declines to pursue charges against reed. and that case is kind of dropped, but the police retain this biological evidence. >> texas ranger rocky wardlow, he requested that the ser

mr. walsh of boston. martin walsh over the battle over the pandemic. look for that around 7:30, i think we will do that. and bondseeper yield curves, yields churning. negative seven, negative eight, negative nine on the real yield. please stay with us. this is bloomberg. good morning. ♪ businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business. a 19-year-old woman was the first in line with the u.k. became the first country in the west to offer coronavirus vaccination. the national health service called it its biggest immunization campaign ever. prime minister johnson warned that mass vaccination will take time. the u.s. is averaging as many deaths from coronavirus as it did during the april peak. the seven-day average of

bonds, it is applelike, and extraordinary year of capital gains. matthew winkler, thank you so much. lisa, quieter than yesterday but nevertheless informative. an interesting discussion with mrver. the: talking about how resilience of the ports will remain. in the market the churn is interesting given that we are getting news. we got a stimulus package everyone was waiting for. we have more of a sense of vaccines and people are quiet today. nasdaq 100d look at up at highs, 3/10 of a percent move. with that recovery yesterday that we saw in the markets -- lisa: how much of your cash did you rotate into tesla? tom: i did not do tesla. spx is a roulette wheel. 7:00 a.m. yesterday i got the phone out and moved it to the corbo leveraged all cash flow. is safe. speaking of safe, finally small-cap and mid-cap, move on. , an important discussion on what you missed in 2020. this is bloomberg. ♪ tom: this morning, call it bio hysteria as the dow is peak to trough to peak swing. .ear 1900 points the nasdaq 100 right now near record high. the dollar weakens. dover, while we spoke to their ceo in the last hour, they look for a pragmatic solution. the prime minister telephones france. n l

negotiations are all rubbish and mr bush we now have a front page got it in your country of can saw i think we need to sort out the fish for sed and i'm hoping to go in a bond movie because my hair and i am rather reproachful i get all of this last minute negotiations is this just a big share ride pertaining to the tipping union member states and the united kingdom are we going to get a deal in member you have to remember that with dunks like you. so we try to say. yes well shut up nigel. speak speak you know i can shake my issues we know that you are a foolish man but we have to keep smiling at you like we like you we don't like you. well i decided to have a bat out of memory but i had the same problem back when but when it was that reporter he didn't like us well as a you you smell like a leg like that damn pragya look like i really like that dichotomy no you could other european leaders that we don't that we're better out of it a getting over that is all i said all along but i doubt let me speak christmases out on ballots not at my house bring on the base deeply surely you're relieved to be rid of nigel farage from the european parliament isn't a good sa

bonding that they had during that time. the funeral home closed a few years ago when the last sibling of the allen family passed, mrs. gray. it has been announced that it will reopen under the on-ford family mortuary. -- owen-ford mortuary. here we have some other entrepreneurs and we will in end the tour with a slave who ran away four times and got caught. ultimately, he got to mobile, and we will talk about how he eventually got freedom. this is stone street baptist church -- this is the oldest baptist church in the state of alabama. it was founded 13 years before alabama was even a eight. i did not say oldest african-american church. it is the oldest activist church in the state of alabama. the individuals who worshiped here, they would be singing spirituals with so much conviction and passion that their owners started having nightmares and headaches. eventually, he set them free and they moved to this location. not only was it against the law for african-americans to be educated in alabama, it was against the law for them to have property in their name. this was an integrated parish. the property was deeded in th

negotiations are all rubbish and mr bush we now have a front page got a huge in your country of canned song i think we need to talk to the fish for sed and i'm hoping to go in a bond movie because my hair and i am rather beautiful i get all of this last minute negotiations assistance to bake sharad between the heat opinion member states and the united kingdom are we going to get a deal in member you have to remember that with dunks like you. so we try to say. yes well shut up nigel while the shadow speak. speak you know i can't shake my issues we know that you are a foolish man but we have to keep smiling at you like we like you we don't like you. well i decide that out of my body had the sight problem back when but when it was that report you don't like us well as a youth you smell like a leg like that damn pragya look like a rug right back out i mean. other european leaders that we don't know what better out of it a getting over that is all i said all along not out let me speak christmas is out of balance not a nice house bring on the base only shelia relieved to be rid of nigel farage from the european parliament as a good thing about rights yes i am very pleas

mr. gross is quite a golfer maybe he could build a golf net and he can hit out into the pacific. thanks rahel. >>> to the bond market we go rick santelli tracking the action at the cme. rick >> everybody loves the gilligan's theme song. if you look at the intradays of 10s, we're in the mid-90s. up three basis points. why is this such a critical area we keep testing it but not going through. open the chart up to november 1st and you'll see it was the december 4th high yield close around 97 basis points but if you look at that same time increment, 30-year bonds not the same unlike 10s, the higher the yield -- the yield that's higher than the december yield is 174 in november. so, those are the levels on a closing basis 97 and 174, those are breakout closes now, if we look at what's going on with the yield curve, wow, almost 84 basis points, 10 to 2s, steepest since halloween of 2017 and all the curves are steeper because the long ends leading with higher rates. finally, april 2018 of the dollar index, even with the small bounce today, we're trading just three-quarters to two-thirds of a cent above a 31-month cl

and so there's some remaining bonds there and i'm going to refer to mr. corso on how much that balance may be and forward to the project. but all of the projects funded by that, especially the station 35, for example, so that's a project that continues until we finish that project. but, if you want to add anything to this? >> sure, good morning, everyone. thank you, chief. yes, just briefly, on 2010 easter bond we're wrapping up the main project there is were station 4 and then station 5 and 16, and as those close out -- have closed out -- it's a matter of reconciling the small remaining balance. 2014 bond, yes, there's a number of projects still underway. the chief had mentioned the new station 35. so that one is definitely still a balance, and we're working on a number of focused projects along those lines too. i think that as far as timelines, the goal is to have as much done as possible before the next bond series comes up. it just looks better, obviously, that it shows that the city is working and expending those funds bestowed upon by the voters. so

bond table in the back and we will have fish pie. therese: fish pie? tom: fish pie. therese: it is a game restaurant. tom: fish pie. that's what this is about, fishing. mr. macron wants to protect the people of france. does the united kingdom prime minister need to protect the fishing people of britain? therese: it is more complicated in britain because what britain fishes it doesn't consume itself, it cells into other markets, particularly the e.u. market. what it consumes itself, doesn't fish. the two sides are very interdependent. doesn't help either the u.k. or france to have no deal here. both sides sides know it. but getting a deal on fish that is not considered a sellout is important to boris johnson's support teen regulars -- between ers.it or' finding the right level of quota has been hugely difficult, and the e.u. demands have been rejected by the u.k., and it looks like they will try to budget with phasing in a repatriation of quotas, and it is just -- it is not clear what level they will reach. tom: we are reintroducing our charts here off the bloomberg terminal, and this is the brexit chart, real simple, back to a time of over 1.40 as well.

mr. perdue's stock trading during six years in he haste been the senate's most prolific stock trader by far. reporting 20 or more transactions in single day. 2596 trades mostly in stocks and bonds and funds, equally next five most active traders in the senate. is this an unforced error right now you guys are having to deal with? >> i don't see why, i'm not sure why this is relevant, somebody trades stocks a lot. i'm certain they have somebody who mutual fund or something. i don't really know the details. i'm not sure why this is relevant. leland: come on, congressman, the charge obviously is that he been trading on somewhat inside information and that he has been trading stocks and companies that he has influence over and might have inside information over. if you don't want to have the appearance of impropriety put it all in the zap if i have hundred index fund and not make a single trade. >> that is nonsense. i don't see any proof of these allegations. only making appearance of impropriety of you repeating unverified allegations. look if democrats, if democrats want to take this stance that they're for the working class, then maybe they should actually talk to some people in

mr. profit, in your view, let's just cut to the chase. what's more overvalued, stocks or bonds? >> stocks are probably more overvalued. what we're seeing, in my opinion, is a huge rotation, however, out of bonds at current levels and into equities. you see a lot of insurance companies, pension funds, university endowments, seniors, retirees, they cannot afford the current levels in the bond market and while treasury is backed up a little bit, corporate bonds is an example and mortgage bonds have tightened against treasury, so there's virtually no yield in the bond markets. the only place -- i will identify this for your viewers -- to find yields and it's complicated is in closed in bond funds you can get yields with two numbers there. >> what you said doesn't seem consistent with what we're seeing. if people were bailing out of bonds to get into stocks, rates would be much higher. that's what i meant. your point you're making it's a borrowers' paradise as countries go more negative with rates, that's not indicative of people bailing out of bonds. if people were bailing out of bo

bonded over weekly h by attending prayer breakfast together. his mentorship was quickly urned into a friendship over the last two years and he's an excellent guitar player, mr roe has or, always looked out for america's brave service men and women. cheerm and lead republican on -- chairman and republican -- lead veterans' on the house committee. dr. roe was always in their corner. next ss will be different year without dr. roe, and i'll miss working with him on the important to tennesseans. thank you for your career in veryess and i wish you the best in retirement. to -- aker, i rise today just went stereo. r. speaker, i rise today to congratulate gary rankin at me, mr. speaker. i always say that because it's end -- the speaker pro tempore: the gentleman may proceed. mr. burchett: do you want me to start over? the speaker pro tempore: you're fine. mr. burchett: i want to gary rankin and his team on their sixth consecutive state title. 4 at the tennessee lue ross control, alcoa defeated their opponent in a shutout. his markets the tornado's -- his marks the tornd's -- tornado's 16th championship. it's a proud day to represent of team in the halls congress. a

some of the street bond is being paid with federal money, and the feds have debarred that person. do we then debar them as well? >> mr. givner: not sure if this is a question for me or for mark who might know more about the process how we track federal debarments? >> yeah. from the controller's office perspective, commissioner bush, so there is a step in the city's procurement process, whereby a new contract is let and entered into our financial system, there is a let that is currently being done to check and see if they do appear on that sam.gov website, which is the website that's maintained by the u.s. general services agency that lists all the federally suspended and debarred contractors. and so there is that check that happens at least before things are let or paid, it was in the city's system. how it's included in the review of the contractor in the definition of a responsive or responsible bidder, i am unsure about how that is -- whether there is a check that happens at that juncture to see if the contractor that's bidding on a contract appears on that list. >> commissioner bush: okay. thank you for that. the

some of the street bond is being paid with federal money, and the feds have debarred that person. do we then debar them as well? >> mr. givner: not sure if this is a question for me or for mark who might know more about the process how we track federal debarments? >> yeah. from the controller's office perspective, commissioner bush, so there is a step in the city's procurement process, whereby a new contract is let and entered into our financial system, there is a let that is currently being done to check and see if they do appear on that sam.gov website, which is the website that's maintained by the u.s. general services agency that lists all the federally suspended and debarred contractors. and so there is that check that happens at least before things are let or paid, it was in the city's system. how it's included in the review of the contractor in the definition of a responsive or responsible bidder, i am unsure about how that is -- whether there is a check that happens at that juncture to see if the contractor that's bidding on a contract appears on that list. >> commissioner bush: okay. thank you for that. the

bond to pay the costs of a potential judgment associated with litigation relate today proposition c and subject to specified conditions as defined here in. >> president yee: supervisor peskin. >> thank you, mr. president. i totally concur with the budget committee but given that this is almost 1 billion-dollar instrument, i thought it would be worth hearing from the controllers office before we all vote on this. this is a pretty rare thing that happens so if the controller or his staff can just state for the record why this is before us, i just think that this is not one of those things where we should do same house same call without hearing from the controller. >> i concur and i think he could explain it better and now i am glad you didn't ask me to explain. are you around or someone from the office? >> president yee, this is the office of public finance and the controller office. i'm not sure the controller is currently with us but i would be happy to take a stab at it. >> you go ahead. >> thank you. >> so, as a supervisors are familiar proposition c in 2018 and the voters approved change to the gross receipt tax that would dedicate 85% of the revenue towards childcare and early education

bond to pay the costs of a potential judgment associated with litigation relate today proposition c and subject to specified conditions as defined here in. >> president yee: supervisor peskin. >> thank you, mr. president. i totally concur with the budget committee but given that this is almost 1 billion-dollar instrument, i thought it would be worth hearing from the controllers office before we all vote on this. this is a pretty rare thing that happens so if the controller or his staff can just state for the record why this is before us, i just think that this is not one of those things where we should do same house same call without hearing from the controller. >> i concur and i think he could explain it better and now i am glad you didn't ask me to explain. are you around or someone from the office? >> president yee, this is the office of public finance and the controller office. i'm not sure the controller is currently with us but i would be happy to take a stab at it. >> you go ahead. >> thank you. >> so, as a supervisors are familiar proposition c in 2018 and the voters approved change to the gross receipt tax that would dedicate 85% of the revenue towards childcare and early education

bond that was due to pay another bond due and so that would require bankruptcy and lay everyone off. this would be been devastating had our financial system frozen up. mr. president, some believe it was in the process of freezing up. that's why the federal reserve board member came to the senate and said we need unprecedented facilities we can stand up very, very quickly and we can use them to be a backstop to restore confidence and to enable private credit to start flowing again. so that this economic recession that we're certainly going to go through back in march it was clear that was going to happen, but it was not clear that we had to suffer through a financial crisis that would create a depression. that was something we thought maybe we can avoid. so these facilities were set up, as i say, to restore the normal functioning of private lending and private capital markets. not to replace those markets. not to pick winners and losers and decide who gets credit and who doesn't depending on who we like, not to subsidize, let's just give cut-rate loans to the people we like to give them to. none of that was the intention. none of that was the purpose. t