mr. goldman? >> thank you, members, especially chairman and ranking member for inviting me to share my story with you today. i am one of the millions of americans who thanks to the affordable care act have been able to pursue goals free from the financial and physical implications of staggering expensive health insurance or in many cases no coverage at all. these reforms have helped ensure many americans won't have to weigh debt or something as simple as food for their children against access to the most base ic healthcare. i hope my words serve as a reminder of why the aca has improved the well-being of individuals and families across the country. i grew up outside of boston and stayed in new england for college. my 20s were a decade of exploration and change. in that decade, i had the freedom to switch careers twice, experience love and heart break and revel in excitement and opportunity. at the same time, i watched friends become burdened with unforeseen medical emergencies and forgo access to

mr. harry goldman for whom we thank your indulgence and we would ask for convenience sake that mr. goldman be added to the panel and be sworn in and testify at the same time. >> i appreciate your suggestion. he's not a government witness and not an expert in any of the facts being discovered today so we'll leave him on the second panel but i thank you for your suggestion. ms. tavenner, you are recognize.for five minutes for your opening statement. >> i appreciate the opportunity to appear here today and answer your questions about cms' continuing work to provide affordable high quality thoct healthcare to the americans we serve. in my previous appearance before your committee i reported a number of americans that were even rolled in marketplace coverage and they had premiums that included medical and dental connell. simply put this was -- this waa mistake. moving forward only individual with medical coverage will be included in our enrollment numbers. we are now providing weekly snapshots of the 2015 marketplace data including the number of consumers who submitted an application, co

mr. ari goldman, an independent consultant being on the panel with you? >> i have no objection. >> that's good he likes your stuff. mr. gruber do you have a problem with an independent consultant being on the panel? then i have no objections. >> i withdraw my objection. hearing no objections -- well, they seek mr. goldman, i would ask the ranking member, since he was unavoidably detained to do his opening statement, and then we'll go to you mr. gruber. mr. cummings. >> thank you very much, mr. chairman. before i began i know today is your last hearing. and as chairman of the oversight committee, i want to thank you. as you said a few moments ago, we have taken this journey together. and it has been a great journey. i said during your harnking of your portrait right there -- >> thank you for saying i was hung. >> that i believe that everybody who comes along your path comes along your path to make your better. and i will tell you, mr. chairman, you've made me a better person in so many, many ways. i want to thank you. i want to thank you for your service. i

mr. goldman. >> i am one of them million from staggering expense of health insurance. these reforms have helped ensure that many americans will not be burdened by crippling debt. i hope that my words today serve as a reminder of why the aca has measurably improved the life of individuals and families. outside of boston.oston i had the freedom to switch careers. i experience love and heartbreak. watchedame time, i friends become burdened and forgo access. i'm now 33. i have lived in washington dc for 11 years. i am healthy. i have low cholesterol. i am doing well. turned 26, i abandoned a career in nonprofit fundraising. it was bolstered by unbridled optimism. i did not consider that because manageable pre-existing conditions that i would be forced to navigate and i'm friendly health insurance marketplace. i found great satisfaction making a living working in the restaurant industry. although i worked full time, i was not offered benefits. ventured out into the individual market and applied to several brand-name companies. they turned me down. one company offered a plan

mr. goldman. i -- historians like me because, you know, every faculty, every respectable law faculty has a legal historian on it. but how important they are depends on how much you think the history behind the constitution or any other statute depends upon what was the understanding at the time. which is what historians can tell us. so i use his toirns more than more people. and they like me more than most people, i think. well, i'm happy to welcome all of you to this -- i guess it's the third in our series of lectures named after the former president of the supreme court historical society. and this lecture is as you have heard on -- it's the third in a four-part series on the supreme court and the civil war revisited. the historical society has an educational outreach mission that includes these lectures. it includes training programs for teachers. and it includes the publication of such publications as court watchers, eyewitness accounts in supreme court history which came out a few years ago w

mr. goldman. i -- historians like me because, you know, every faculty, every respectable law faculty has a legal historian on it. but how important they are depends on how much you think the history behind the constitution or any other statute depends upon what was the understanding at the time. which is what historians can tell us. so i use historians more than more people. and they like me more than most people, i think. well, i'm happy to welcome all of you to this -- i guess it's the third in our series of lectures named after the former president of the supreme court historical society. and this lecture is as you have heard on -- it's the third in a four-part series on the supreme court and the civil war revisited. the historical society has an educational outreach mission that includes these lectures. it includes training programs for teachers. and it includes the publication of such publications as court watchers, eyewitness accounts in supreme court history which came out a few years ago w

mrs. goldman for her devotion and commitment to preserving historical documents of the court and the constitutionthank the supreme court historical society for the invitation and, of course, jennifer lowe for her thoughtful assistance in organizing this event this evening. my topic today is dred scott in context. today the dred scott case is universally condemned. in preparation for this talk, i viewed some of my predecessor's at this lecturn and i noted how very often it came up in history and lectures about the court's history. justice sandra day o'conner described it as thatmrñxñ terri case and other justices in this series spoken about it similarly. dred scott is the case that symbolizes injustice. it is the most discredited case decided by this court and one of the cases most widely invoked in making comparisons about failures of justice. scholars count the ways that the decision went wrong. as you will recall, the case contained three rulings, blocking dred's scott claim to be a free man. there was a pair of rulings about the congressional power to prohibit slavery in the territories and th

mr. goldman. i -- historians like me because, you know, every faculty, every respectable law faculty has a legal historian on it. but how important they are depends on how much you think the history behind the constitution or any other statute depends upon what was the understanding at the time. which is what historians can tell us. so i use his toirns more than more people. aney

mr. goldman be added to the panel and sworn in and testify at the same time. >> i appreciate your suggestion. he is not a government witness and not an expert. we will leave him on the second panel. i thank you for your suggestion. ms. marilyn tavenner, you are recognized for five minutes for your opening statement. >> thank you, mr. chairman, members of the community. i appreciate the opportunity to appear here today and answer your questions about the continuing work to provide affordable high-quality healthcare. >> i appreciate if you would pull the michael little closer. thank you. >> in my previous appearance before your committee i reported a number of americans were enrolled in coverage including both medical and dental coverage. simply put, this, this was a mistake. some individuals were counted twice. leaving forward only individuals with medical coverage to be included. we are now providing weekly snapshots of 2015 marketplace data including a number of consumer goods submitted an application, contacted the call center or visited the website. we have also created a knew data office

mr. goldman be added to the panel and sworn in and testify at the same time. >> i appreciate your suggestion. he is not a government witness and not an expert. we will leave him on the second panel. i thank you for your suggestion. ms. marilyn tavenner, you are recognized for five minutes for your opening statement. >> thank you, mr. chairman, members of the community. i appreciate the opportunity to appear here today and answer your questions about the continuing work to provide affordable high-quality healthcare. >> i appreciate if you would pull the michael little closer. thank you. >> in my previous appearance before your committee i reported a number of americans were enrolled in coverage including both medical and dental coverage. simply put, this, this was a mistake. some individuals were counted twice. leaving forward only individuals with medical coverage to be included. we are now providing weekly snapshots of 2015 marketplace data including a number of consumer goods submitted an application, contacted the call center or visited the website. we have also created a knew data office

mr. waldrin joining goldman sachs back in 2000. mr. inberg who he's replacing joined the firm back in 1983 and his bloodlines are deep there at goldman sachs, having a father who also worked there as well. back to you, mandy. >> thank you very much, mary thompson. >>> up next, why gm is saying nyet to russian car dealers. we'll be right back. >>> plus, crude falling hard into the close. right now crude oil off about 3.5%, 3.75%, actually. we'll talk this over and we'll see if the selloff continues when "street signs" returns. thanks. ♪ [ male announcer ] fedex® has solutions to enable global commerce that can help your company grow steadily and quickly. great job. (mandarin) ♪ cut it out. >>see you tomorrow. ♪ >>> we are sliding, only a couple minutes to go until it settles. we are ending down over 4%. we were actually positive early on in the day. >> do you know what the low is? >> what the low is? >> 53 or something like that? not today, but in general. >> yeah, i think about 53 and change. another bumpy day for the ruble. the russian

mr. goldman that was reasonable in cost, yet when they got to the point of having to pay their deductibles and copays and out of pocket expenses or the prescription drug cost, they couldn't afford it. i would suggest that transparency is what you see is not what you get. my time is expired. i now recognize mr. cartwright for five minutes. >> thank you and i thank the witnesses for appearing today. yet another instance of the mashes of teeth over the affordable care act. administrator, you were not there for the crafting of obamacare. i was not in the congress when many of my colleagues were not here for the voting on the aca. i believe what the american public wants of us is to make the best of things and to take this law and improve it and make it work for everybody in the united states. that's why it pains me to have to sit through these hearings while we criticize those who may have said something that understated or overstated the facts to be sure. there people who are traveling through this world and through their lives unburdened by excessive concern for the truth. maybe mr. gruber a

mr. goldman, thank you for your participation. i suspect that this is an unusual event for you. you carried yourself off well, even though there weren't as many questions. perhaps if you will post a few videos, you will get an opportunity. mr. gruber, i think you saw here that on both sides of the aisle, at least a number of members don't buy that you were saying one thing there that you didn't believe. i think most of us believe you believed a lot of what you said. in the case of the tortured accounting that cbo used with ten years' worth of revenue and a fraction -- only six years worth of payout, it's tortured. american people in the long run are going to realize there's no free lunch. and paying 1100% and 09 -- 90% f the medicaid has a cost. the taxpayers are who we represent. the only reason you are back leer today is that you came with figures that were deceptive. needlessly deceptive. we can take bad news here. we have overseen a lot of agencies, problems at the department of transportation, problems at the secret service and others. mr. cummings and i have been able to w

mr. levin: madam president, last month the senate's permanent subcommittee on investigations concluded a two-year bipartisan investigation into wall street bank involvement with physical commodities. our investigation which focused on goldman sachs, more began stanley and j.p. morgan chase -- by the way, i ask unanimous consent i be permitted to proceed as if in morning business for five minutes. the presiding officer: without objection. mr. levin: is the subcommittee's investigation found these banks involved in a breathtaking array of physical commodities activities. they own coal mines and oil pipelines, power plants, massive amounts of copper and aluminum and even uranium. we asked multiple aspects of financial holding company involvement with physical commodities including the nature and extent of those activities with the attendant risks such as the threat to bank's safety and soundness from a catastrophe along the lines of the b.p. oil spill in the gulf of mexico. we also examined the impact of those activities on consumers, manufacturers, and markets. one key area of concern relates to possible price manipulation and unfair trading. what we found is that involvement in physical commodities gave these banks access t

goldman sachs is 25 basis points. .2 of 1% ago. that will put pressure on the aussie dollar. advise mr. soros, calling the dollar yen at 200.is a heck of a yet -- number. u.k.'s exchequer will present his statement. george osborne has announced the statement. the funding for lending scheme will be extended till 2016. we will bring you live coverage half past 12 here on bloomberg. sweden's prime minister said he might resign if he feels to win backing for his first budget. he leads a minority coalition. . they refused to support any budget that promotes immigration. the primera -- minister may call action's. the funeral has taken place at the funeral of philippines. many testended by cricketers past and present. he had played for his country since 2009. majorg oil prices are headaches for vladimir putin. back onet the country track? here to tell us more is ryan chilcote. good morning. >> that is a big call. i cannot know. >> is recession inevitable? >> what we heard from the kremlin saying what we have heard from economists before that russia will enter a recession next year. the importance is this is the first time the gove

goldman sachs. i remember this hearing on hill, member of the congressional oversight panel, began a question to me, well, mr geithner, of course you're a banker. >> i said no, i'm actually not a banker. >> well, you were in banking. >> i said no. i'm not in banking. >> so you're investment banking. >> i said no, never in investment banking. i but that perception, probably because that initial description of my past and probably because of the what we were doing just hardened. it b became overwhelmingly, accepted wisdom. the way the world works, perceptions matter a lot. when the perceptions harden, they're very hard, very hard to break. >> so another policy yes, some of the fiercest criticism of yom during your tenure and of your book has come about, the help that was offered for homeowners. and one critic wrote, in every turn on housing the evidence points to tim geithner preferring whatever option put the least pressure on banks rather than actually helping ordinary people. >> i know that is a common perception but just deeply confused perception and it rests on a just a deeply unrealistic sense of, of wh

goldman sachs international. stiglitz joins us. ♪ blitz joins us. ♪ >> let's talk non-activist investing, sort of basic. the 1, 2, three of it all. year, you, -- and this take mr much of a game changer? .> it's a big change and the other pulls have gotten much bigger. and the typical mutual fund and general funds have been underperforming. activism that is -- activism is one thing that is outperforming. >> what is the catalyst here? other activist investors and suddenly their best friend is carl icahn? quietlyyou will notice behind the scenes that many of these vanilla mutual funds are encouraging these activists. >> i have a wonderful year coming up. we are announcing it today and we will see it through the final week of the year. participates and he is just livid over the idea that share buybacks are a bad thing. he says activist investing is hard and there is no downside to buying back shares. carl icahn agrees, doesn't he? does.e i probably don't agree with either of them. -- >> he does. i probably don't agree with either of them. shownk history has buybacks and financial engineering work for a time, but if you are not growing organically your business, it

mr. ari goldm goldman, for whom we thank urine dull against. and we would ask for convenience sake, since we have a small panel here, that mr. goldman be added to the panel and be sworn in and testify at the same time. >> you know, i appreciate your suggestion. he is not a government witness and not an expert in any of the facts being discovered today so we will leave him on the second panel but i thank you for your suggestion. miss tavenner, you are recognized for five minutes for your opening statement. >> thank you, mr. chairman. members of the committee, appreciate the opportunity to appear here today and answer your questions about cms' continuing work to provide affordable high-quality health care to the americans we serve. in my -- >> ma'am, ma'am, i appreciate if you just pull the mike a little closer. thank you. sorry. >> in my previous appearance before your committee, i reported a number of americans that were enrolled in marketplace coverage and had paid their premiums that included both medical and dental