>> mr. chair, i move the minutes be approved as is with necessary corrections. >> thank you, commissioner scott. may i have a second? >> i second that motion. >> thank you commissioner ludium. >> take roll. >> commissioner member announce your vote. for 5a. commissioner brackett. >> aye. >> commissioner ludium. >> aye. >> commissioner scott. >> aye. >> vice chair rosales. >> i was not present. >> and chair bustos. >> aye. >> mr. chair it is 4 and one abstention. >> thank you the motion carries. call the next item. >> next is the regular agenda item 5b. authorizing an extension of the payment of the agency affordable housing fee required under the agreement for purchase and safely real estate with the agency to the redevelopment agency in san francisco. and 706 mission street llc, a delaware limited liability company. discussion and action resolution 46-2022. director kaslofsky? >> thank you, secretary. again the members of the commission and the public this is an item relate toed authorizing addit

mr. chair, finally, items acted upon today are expected to appear on the bord of supervisors attenda of january 10, 2023. >> thank you mr. clerk. please call item 1? >> hearing to consider that the transfer of a type-21 off-sale general beer, wine, and distilled spirits liquor license to luke's local inc., doing business as luke's local, located at 580 green street (district 3), will serve the public convenience or necessity of the city and county of san francisco. members of the public who wish to provide public comment call 415-655-0001 and 2 (494) 4948082920 press pound twice and star fallowed by 3. >> thank you. welcome officer from the sfpd to present on the item. officer. >> before you have (inaudible) luke's local. this allows them to operate off-sale general premise. there are 10 letters of protest, zero letters of support. located in plot 130 considered high satchuation area. they are in census tract-plot 130 which is high crime and census tract 106 which is high satchuation. central s

mr. chair, finally, items acted upon today are expected to appear on the bord of supervisors attenda of january 10, 2023. >> thank you mr. clerk. please call item 1? >> hearing to consider that the transfer of a type-21 off-sale general beer, wine, and distilled spirits liquor license to luke's local inc., doing business as luke's local, located at 580 green street (district 3), will serve the public convenience or necessity of the city and county of san francisco. members of the public who wish to provide public comment call 415-655-0001 and 2 (494) 4948082920 press pound twice and star fallowed by 3. >> thank you. welcome officer from the sfpd to present on the item. officer. >> before you have (inaudible) luke's local. this allows them to operate off-sale general premise. there are 10 letters of protest, zero letters of support. located in plot 130 considered high satchuation area. they are in census tract-plot 130 which is high crime and census tract 106 which is high satchuation. central s

>> taken mr. chair -- thank you mr. chair. i would like to thank you all for your work that has been put together to the staff of the committee for the work that has been put together and to all of my colleagues on the committee for all of the work that we have on this. and nevada truly appreciates the accommodation that has been made. while not ideal to be on the same day as another state, we accept what the will of the president is, and that's what we are here to do. for this committee at this moment. i appreciate it and nevada is in support of these recommendations. >> thank you miss blanco. any further discussion? >> yes? >> i want to echo the support of doing with this community -- committee is about to do with the hope and commitment of looking at 2028 as another opportunity to evaluate what we can do for our country with the lineup of the states. arizona would not have two democratic senators, and democratic governor, and a democratic secretary of state, and in it -- and a democratic attorney general if not for the impa

mr. barr:thank you, madam chair. mr. ray, in your declaration you said many of the companies in the f.t.x. group did not have appropriate corporate governance and this situation is unprecedented. you also in your testimony today said that the f.t.x. collapse stems from the lack of an independent board and complete failure of any internal controls or governance whatsoever. can you elaborate in describing the governance structures for f.t.x..com that led you to make those comments? mr. ray: first and foremost, there is no independent board of directors. one of the first thingsdy was put on an independent board of directors, led by our chairperson, who is the former u.s. attorney and honorable joseph firman, former u.s. district court judge. put in a corporate structure of independent directors. put in separate officers, new officers of the company, i put in a few c.f.o., new chief information officer, new head of administration. all independent. with some background and experience in these sectors. none of the employees, t

mr. chair, finally, items acted upon today are expected to appear on the bord of supervisors attenda of january 10, 2023. >> thank you mr. clerk. please call item 1? >> hearing to consider that the transfer of a type-21 off-sale general beer, wine, and distilled spirits liquor license to luke's local inc., doing business as luke's local, located at 580 green street (district 3), will serve the public convenience or necessity of the city and county of san francisco. members of the public who wish to provide public comment call 415-655-0001 and 2 (494) 4948082920 press pound twice and star fallowed by 3. >> thank you. welcome officer from the sfpd to present on the item. officer. >> before you have (inaudible) luke's local. this allows them to operate off-sale general premise. there are 10 letters of protest, zero letters of support. located in plot 130 considered high satchuation area. they are in census tract-plot 130 which is high crime and census tract 106 which is high satchuation. central s

representative napolitano. >> thank you mr. chair. mr. reagan, i thank you for working with me on revision of the infrastructure law requiring transit agency to establish risk reduction programs create is this important safety requirement being implement it effectively by the fda and transit agencies? what can we do to improve the implementation of the safety projects? >> thank you for the question. we have been in constant medication with the federal transit and ministration about implementing the safety protections. they made some important steps recently in terms of changing the definition of assault and will improve the accuracy of the data that we collect to make sure that we have an accurate description of how these programs are, how broad the scope of the problem is. i do think what we need to do, i view the actions that were taken by this committee and by congress to improve safety for operators, i think that was the first step. it is going to be a diagnostic tool to show how broad the problem is and also to make sure we have work

the gentleman is out of time. >> mr. chair, i yield time to my good friend. >> you are not recognized so you can't yield. when you are recognized, you can yield. representative lynch is recognized for five minutes. >> thank you mr. chairman, i know this is probably our last meetings. i just want to say thank you to you mr. chairman for your 36 years that you have served the district and i want to thank you, i know that the process, the legislative process sometimes we don't get everything we want. i think everyone would agree that you have elevated the cause and priority of every structure, transportation and otherwise across the country during your 36 years. we all owe you a debt of gratitude, look at. we have some of the oldest and for structure in the country so i am doubly rate full for your leadership. also, -- i am doubly grateful for your leadership. the stage hands union and i want to thank you for your willingness to champion the cause of workers and especially those who go through the program and might get paid a lit

we're going to you, mr. chair, and do questions and then go to the rail panel and hopefully will be quick. for those who, if you want you can go in to make-- but for the people in the audience if you want to go in the side office there to make calls, or do whatever, you have to do, feel free to do that. so, we will go to you next. okay. welcome. >> thank you, mr. chairman, thank you all for being here on this committee. (inaudible) # >> mr. chairman, you may have heard-- we promised the american people-- >> could you turn your mic on, please. >> you want me to start over with my jokes? did you get them all? are we good? . i have some idea how to make that promise reality, mr. chairman. right now the american people don't trust us, they can only trust us as far as we can throw the dome off the capitol and under this democratic controlled government, americans, i feel have been lied to and mislead and left entirely in the dark on legislation that made their lives worse. we need to earn back their trust and starts wi

thank you. >> thank you, mr. chair and i have some questions for mr. pardo if he can answer, if he can hear me. my first question has to do with your report, you call out that you suggest, actually, making a list of five priority projects in different areas. your report would suggest there hasn't been a prioritization done. is that true? are you saying there was no prioritization? if so, who decides what happens? which projects get done first? >> i know they have critical projects of the government have in mind, but since the most important factor here is the power grid and the big projects that really provides the resiliency needed before the next hurricane. and those have not started. so that's have got to be-- they may be in fema's hands or in luma's hands and that's why the-- of jennifer granholm is key to put those out for construction. >> so let me-- i'm going to pop around here a bit because i don't have much time. in your next part of your report, you talk about skilled labor and that it is a major concern. i looked quickly at the population of

mr. mcdonald: after all, you need me to restate the motion? chair roosevelt: couldn't hurt. mr. mcdonald: i move that preliminary applications for 2028 early state status must be received by the rules and bylaws committee prior to the fall of 2025 d.n.c. meeting. chair roosevelt: all right. i am going to actually interrupt again. the chair was elected at the first meeting of 2025. officers are elected at the first meeting of 2025. the chair appoints his committee members at the second meeting of 2025. so i am going to ask you to amend that to the first meeting of 2026 so that it goes to the newly appointed committee. that's where i was trying to go. as we've done a few times here messed up on the states. mr. mcdonald: ok. i will restate the motion. ask my -- to withdraw my second and i'll move that the preliminary -- the preliminary applications for 2028 early state status must be received by the rules and bylaws committee prior to the first meeting of the d.n.c. in 2026. chair roosevelt: is there a second? >> second. chair roosevelt: there is a second. is there discussion? heari

if not, you are-- thank you for being here, you're free to go. >> thank you very much, mr. chair. >> thank you, mr. chairman, lack of comment on my thoughtful legislation mean total endorsement, is that what i understand? [laughter] >> thank you, mr. chairman. >> i'm not going to write this. >> so i want to call up a panel, representatives, and so come up and-- representative bordeau, we'll begin with you. make sure your mic is on, yes. okay. you may proceed. >> thank you, chairman mcgovern, representative cole and house committee. for the rules changes for the 118th congress. while i will not be here, i'm here to express my support for pay as you go rules and restoring fiscal discipline to congress. prior to running for congress i spent most of my professional career working to advance fiscal policies at the local state level and i worked on a number of projects and budget processes and years i have taught public budgeting, from 2007-2010 i served as director of the georgia senate budget and evaluation office where i worked with members from both parties to balance the state bud

to be blunt, mr. chair, i do not like it. and i have dealt with it the nicest but this delay is not righteous and now we are in a crisis. [end video clip] host: he joins us on the washington journal and we have plenty of callers for you. guest: every time i hear that clip i am reminded every -- i am reminded that i need an autotune. host: we do not have that for you. deborah in ohio. republican. caller: good morning and thank you for taking my call. i do not know where to start and i am a retired scientist. for the last 15 years i have enjoyed studying -- studying the climate and reading about it but we also have a nasa engineer and my family. my concern is global warming is real, we are 170 years past the ending of the last little ice age. the seas dropped but prior to that in the medieval warming period they rose 1.6 meters and it all has to do with a lot of science, volcanic activity and etc.. it is real. but what we are not addressing that i think we have our priorities next up. for instance, the grid. if what happened to

mr. mchenry: thank you, madam chair. mr. ray, thank you for your testimony. we had your predecessor, mr. sam bankman-fried before this committee a year ago. given where we are, can we just start from there? you have in your declaration some clear out. on to make sure we have this in the record. there are different groups and businesses under the ftx platform. or umbrella? you decoration separates the businesses into four silos, would you describe that? mr. ray: yes. before structural purposes, for either presentation we tried to take the over 100 entities and put those under for silos. to demystify that, it is very simple, there is a u.s. silo. the ftx u.s. exchange for u.s. investors. there was i an international exchange, called ftx.com. again, for non-u.s. persons that invested in crypto. there was alameda, which is purely a crypto hedge funds. it made other investments which was the gamble type investments. -- the venture capital type of investments. there is a fourth entity, purely investments. although our investigation is not complete, those investment

mr. bar, is now recognized for five minutes. >> thank you, madam chair. mr. ray in your declaration, you said that many of the companies in the ftx group did not appropriate corporate governance and that this situation is unprecedented. you also, in your testimony today, said that the ftx collapse stems from the lack of an independent board and a complete failure of any internal controls or governance whatsoever can you elaborate in describing the governance structures for ftx.com that led you to make those comments >> well, first and foremost, you know, there is no independent board of directors so one of the first things that i did was put out an independent board of directors led by our chairman, who is the former u.s. attorney and honorable joseph farnan, a u.s. district court judge. put in separate officers, new officers of the company. i put in a new cfo, a new chief information officer, new head of administration, all independent with some background and experience in these sectors. none of the employees -- there is a lot of titles in the company, but

mooney itself recognized for five minutes. >> thank you, mr. chair. so think of a sinker i think it's important we talk about his issues. my question is directed at mr. doug holtz-eakin. earlier this year the government sponsored enterprises gses announced their plans for fa couple housing finance at the direction of federal housing finance agency. the plans call for lower down payments requirements and reduced mortgage insurance costs for perspective minority homeowners, among many other things, many of the changes disregard disregarding considerations of risk and ability to pay, and increasing homeownership by encouraging riskier mortgages is exactly what led to the 2008 financial collapse which actually disproportionally hurt the minority homeowners it was intending to help. moreover, fhfa director has refused to finalize a proposed rule that would've subjected these concerning changes to review and public comment. this administration frankly has a habit of circumventing traditional rulemaking process from the consumer financial protection bureau, c

mr. barr, is now recognized for five minutes. >> thank you madam chair. in your declaration mr. -- did not have appropriate corporate governance in the situation is unprecedented. you also said the ftx collapse stems from the lack of the independent board and a complete failure of any internal controls of government whatsoever. can you elaborate by combining the government structures for ftx.com the legitimate those comments. >> first, well there's no independent board of directors. so one of the first things i did was put out an independent board of directors, that by our chairperson, former u.s. attorney, the honorable joseph foreign, a u.s. district court judge. we put in the corporate structure of the independent directors. we put in separate officers. the new officers in the company. we put a new cfo, a new chief information officer, all with some background and experience in these sectors. none of the employees, there's a lot of titles, but no experience to back it up. >> can you explain how the ftx talk long got restructured differs from the governm

mr. chairman. and we will have seven minutes rounds because of the importance of this issue. and having our one witness today. chairman, you testified cftc has a limited window into ftx operations apart from the one entity that you talk about. the ledger acts which is registered with the cftc. based on the visibility that you have into ledger x and the information you have learned from discussions with other regulatory's, what can you tell us about the cause of the fts collapse? >> think et cetera for the question. i say at the beginning very clearly the ledger x relationship was walled off from other affiliates in the family. and i just stated if you recognize the entity is healthy. it is solvent. is operational and we know are customer money is. but the limitation of our authority stop at that entity. the reciprocal relationship is for those same reasons we were walled off from going past the regulated entity, the other entities were not able to pierce through ledger asked and potentially tak

mr. chair. >> that concludes the public comment. can we have the next item. >> item 2, is the resolution to adopt findings allowing the continued use of hybrid meetings for this commission. this is -- similar resolution you have -- adopted for the past several months to allow for hybrid meetings including public comment and for participation, participation from home, in necessary. do i hear a motion to adopt the resolution? yes. >> do i hear a second. >> i second. >> and moved and seconded. all in favor of adopting the, mr. observe we -- we take a vote we need public comment. >> all right. hear public comment. >> okay >> members of public who wish to make comment on item 2, the adoption of the resolution of findings under the state urgency legislation. may lineup against the wall further from the door or call nothing use the phone number 415-655-0001. and then access code: 2486 325 2472 ##. and press star 3 to raise your hand to speak. and there are no members of the public in the chamber who e

thank you for your work. >> thank you mr. chair and good morning supervisor says we're here to read the reports for fiscal year '2021 and community benefit district are governed by the state law which is the law of 1994 and found in the california streets and highways code that section and the local law which is part of the accident and regulation code. we ensure that they're all meeting management plans. we conduct annual review of the reports and financial statement and provide the board of supervisors with a summary memo which is part of the packet today so basic information about the community benefit districts there are technically five because the port side and land side are separate entities and port side did sunset in 2021 as a community benefit district and all are property based and significant time left on their team terms. we look at four benchmarks and three for the business improvement district. the four are is the variance between the plan and the budget. benchmark two and not applicable to the community benefit dist

if not, you are-- thank you for being here, you're free to go. >> thank you very much, mr. chair. >> thank you, mr. chairman, lack of comment on my thoughtful legislation mean total endorsement, is that what i understand? [laughter] >> thank you, mr. chairman. >> i'm not going to write this. >> so i want to call up a panel, representatives, and so come up and-- representative bordeau, we'll begin with you. make sure your mic is on, yes. okay. you may proceed. >> thank you, chairman mcgovern, representative cole and house committee. for the rules changes for the 118th congress. while i will not be here, i'm here to express my support for pay as you go rules and restoring fiscal discipline to congress. prior to running for congress i spent most of my professional career working to advance fiscal policies at the local state level and i worked on a number of projects and budget processes and years i have taught public budgeting, from 2007-2010 i served as director of the georgia senate budget and evaluation office where i worked with members from both parties to balance the state bud

at this point and ask the ranking member if he has any questions for the governor. >> thank you, mr. chair man and again, governor for being here with your testimony. the generation and transmission distribution were affected by hurricane fiona we noted in the visit. based on the information that you have was primarily the result of downed power lines or the lack of electricity generation or some combination of the two. where would you say the most emphasis needs to be placed? >> it is a combination of the two. the damage to the grid could amount to up to $4 billion but at a minimum it would be two to 4 million. at the breakers, transformers, no other damage. in the case of a generation, some of the generating suffered damage because of all of the excess humidity that they were exposed to and there i understand the amount of the damage doesn't reach the number estimated for the distribution great about it is substantial. fema at my request came to puerto rico after fiona and made an assessment along with the corps of engineers. they visited 35 facilities. generation facilities, substations

thank you, mr. chair. >> thank you, senator smith. the senator from nevada. >> thank you, mr. air and ranking member to me, as i said, i wish you all the best and it's been a pleasure to know you and to be able to work with you.om >> thank you very much feeling is mutual. >> director choker it's great to see it. you know how i feel the former attorney general the work that you do iser so important. the partnership with ag across the country like you said is key. to really address the consumer challenges that we are seeing every time there is a law that is passed, usually there is a predatory actor trying to figure out another way to take advantage so we have to stay diligent and be on top of all these issues. one that's been important we talked a little bit about this is our service members and their families. i know in 2021 the service members and their families submitted more than 42000 complaints to the consumer bureau, the most common type of complaint more than 60% was about credit reporting and debt collection. i know that service members havk complained to the bureau abo

thank you, mr. chair man and i want to thank the witnesses for joining us this morning. we are here to discuss the fallout after the collapse and some americans we saw the arrest of mr. brinkman freed and this came as a surprise to no one we owe it to each customer to get to the bottom of the implosion or any violation should be prosecuted. the other enforcement agents should expeditiously investigate the unseemly relationship between a company that was a hedge fund and in exchange interested with customer funds. while all the facts have not yet come to light we've witnessed wrongdoing that is almost certainly illegal there was unauthorized lending of customer assets to an affiliated entity and apparently fraudulent promises to investors and customers about the operations. these are outrageous and unacceptable yet they also believe they committed fraud against equity investors. they are going to pursue that as they should but i want to underscore a bigger issue here and that is that the wrongful behavior that occurred is not specific to the underlying asset. what appears