mr. ruppersberger: i now ask mr. thompson, senior member of our committee, he worked very hard on this bill. he's been with us for the last three years attempting to pass a bill that will help our country and protect us. i yield mr. thompson two minutes. the chair: the gentleman is recognized for two minutes. mr. thompson: i thank the gentleman for yielding and i thank the ranking member and the chairman for their good work on this measure and -- in trying to build a better product. clearly a threat of a devastating cyberattack is real, and has been mentioned by a number of previous speakers, can't be understated. advanced cyberattacks from china and other nation state actors are stealing hundreds of billions of dollars worth of cutting edge research and development from our u.s. companies and even from our federal government. that's why it's essential that the business community and the federal government work together to share cyberthreat information for the purpose of protecting the american people from the fallou

mr. ruppersberger, mr. thompson and all the staff for their realtime collaboration over the last several days, very late night hours, get this amendment to per fevpblgts let me just say thanks again for that. i yield myself such time as i may consume. the chair: the gentleman is recognized. mr. mccaul: i strongly encourage support of this amendment, the cyberthreat that the united states faces is real and immediate. and the key to addressing these cracks in our cyberdefenses lies with bridging the gap between government and industry. in my amendment -- my amendment helps do just that. this amendment would direct the federal government to conduct cybersecurity activities in a realtime, coordinated, integrated way so there's shared situational awareness across agencies to protect the nation from cyberattack. this amendment would designate an entity within the department of homeland security as a civilian federal entity interface to receive cyberthreat information from the private sector. this is an important

mr. ruppersberger. mr. klepper the floor is yours. >> secretary ruppersberger and distinct members of the committee we are here to present the worldwide threat assessment. these remarks and our statements for the record one on classified into much more detail classified one reflects the collective judgments of the extraordinary men of the intelligence community and may i say on behalf of all of us and all the men and women we certainly appreciate your strong and staunch support. it's our privilege and honor to serve in these positions to lead them and as i will discuss shortly our solemn duty to protect them. but as you know mr. chairman of serious reservations about conducting hearings on the worldwide threat especially the question and answer session. while i believe it's important to keep the public informed about the threats are nation faces a fleet i believe that can be done through unclassified statements in the record. as you also know we are ready to answer any and all of your questions in closed ses

mr. ruppersberger. >> thank you very much. first thing, i think we can all agree, i hope, one of the most serious threats facing our country now, other than weapons of mass destruction, are cyberattacks. as we are speaking now we are having thousands of cyberattacks. it's been said by the cybercommand, they estimate in the last two years that we have lost over $400 billion in american money, american trade secrets. the loss of jobs. even to the extent that it's been stated that china has cyberattacks, fertilizer companies, because they are in competition with our fertilizer companies. i think right now we have different types of attacks, economic attacks. i think it's been mention add little bit today, we are concerned about destructive attacks. it's been reported that iran had an attack on iramco, one of the largest oil companies in the world, and took out over 30,000 of their computers in one attack. and even though they are not as sophisticated as other countries, that iran could really have a successful attack in our banki