the fed, the treasury department, the occ, they have a deep institutional memory. i think there is still the experience of that crisis, it is muted over time but people understand we do not want to get so deregulated as to create risks like that again. sonali: let's switch years and go from the tempering of regulation to the trade and tariff policies. when you think about the entirety of what has been proposed during the campaign, do you expect moves that drastic into next year? jim: we have had campaign proposals, which ones of those turn into real policy and legislation still remains an open question. the president-elect has made a commitment to use tariffs as a negotiating tool to bring tariff barriers we face down. the china relationship is entirely different. i think that is a strategic choice to use tariffs to try to onshore critical industries back to the united states -- critical defense industries back to the united states. i expect on the tariffs that president trump will use them vis-a-vis the rest of the world, europe and our other allies, he will use t

um, so to get into data we see um, want to show some of the any referrals to occ this is the 2023/24 this is for the behavorial health and this triage team so 3 teams and the total number of the new referrals coming in over the years 2023/24. you may notice june is called out separately represents the dph ethic services changed of workflow and captured the process. um, and so we pop out to increase the number of people we see in june really may and june um, and the health services of the data a little bit different. um, and then those are the monthly clients engaged by the follow-up team 24rs our coordination team in the field with the best shelters in the behavorial health yeah. >> so aggregate numbers of people um, and as you can see happy to see those steady increases as people got more familiar with the services. um, this is - thank you. >> am i back?. next slide, please. it's showing up there. >> great. >> okay. >> hi community members i'm emily with the office of prevention with the behavorial health services um, for the past two years working on the overdose activities that ma

it's going to be interesting and what you will probably see is a focus on the real mandate on the fcc occ cetera but most of the work of the department of government fnc's will be in the programs around health and human services, some of the programs around payment delivery we waste a lot of money and payment delivery to people in the united states there is a lot of fraud that's a low hanging fruit, in terms of somewhere else it may not be in their purview but definitely is a donald trump will make a major push with bitcoin earlier with heavy real regulatory framework in the digital asset space that would include crypto currency, et cetera that is something the united states definitely needs we have an opportunity to be the capital hub of the digital assets industry in the united states frankly in miami because everybody loves miami that's what we would do under donald trump leadership we would get that done in the united states. you're really having fun these days come and see us again anytime. take a look at this, spacex launched a mission from florida they have another one planned for

the chairman of the banking committee i am excited about the opportunity to hold of the sec and the occr specific banking agencies. i get excited about holding those folks accountable in legislation that actually improves the photo -- flow of cash in our marketplace. we have too many american struggling paycheck to paycheck. as one who used to have an unfortunate burden as a kid i want to make certain that fewer kids have that burden and spend my time in my focus making this country have the greatest economic recovery in the history of the world. >> neil: tim scott, fair and balanced. we will have arizona senator mark kelly joining us to talk about what is happening at that battleground state. but the focus today really has been on pennsylvania. donald trump wrapping things up and running pennsylvania, pretty soon in allentown we will hear from kamala harris as the race and the work and over time goes into overdrive. after this. where ya headed? >> democracy 24. >> democracy 24. >> your freedom, your votere a? leading strategists like us. when you want to invest with more confidence...

we have three major regulators, the fed, the occ, the fbi see. they all knew the problems.the problems. the bank never corrected the problems. then the fed's policy response was to increase bank capital requirements on everybody else that is exact what is wrong for that is what it should be viewed as a major positive to see a new administration come in and hopefully change this from that regulatory structure pay from that perspective, the financials, the bank specifically are another actually an extensive group relative the -- to the market. the banks as a group are probably 12, 13 times earnings. their instrument is potential for upside. manus: can we go back to dani's point. dani was talking about energy, oil addiction, is there capacity? from an equity investment perspective, if i do not look at the oil majors, why look at the supply chain into that? the narrative of who builds u.s. energy inc.? michael: absolutely. you want an environment more friendly to exploration and production, and as long as there is demand, we will see more infrastructure buildout in the u.s. obv

hat do we do with that situation if you have statement that simply says there may be a risk of a fire occr facility, i don't think that that statement would be misleading simply because there is at difference, at increase of the probability of that happening because of some far another. the circuit set adopted the standard have done precisely cause of all you are saying is that there is a plity of this happening if there is a certainty of it happening then the statement starts to feel misleading. again i think this is very important. here we are talking about these sorts o if thentatements. if are applying a standard like the virtual certainty standard i think the argum that the other side is making is , well, if he had an episode of data misuse and you were e of it at the time, that, that there is going to be harm to your business and that statement is ming and the problem is if that not work out on these. >> j sotomayor. >> so, this is to follow up on the questions. in thistatement what has happened inhe past. it does not talk about cambridge it does talk about other things. there'd bee

. >> uhat circumstances does a statement that isamed like this if x event occ than our business wille heard, under what circumstances does statement that is framed like that imply that the event is not ing to happen? >>so when the relevant risk is something that reasonable person would expect to have curred and would have expected theny to confront in the pastn you wouldn't have that of implication. >> well, so it's - a false implication if the risk of the thing happening in the past is more than quantity, it's more than x, the risk has to be more than x i order for that statement like that to be mislea >> if there was a fire in the plr operations will be disrupted. it's framed like t under what circumstances is that misleading? >> i think that would be misleading if the company, the manufacturer h recently suffered a significant fire that, you know, would be implicitly interpreted as in conflict with the representatio that is issuer was making. >> okay. well, i don't want to dwell on what about the situation, was the fire cause by something utterlyish? something fell metiori te fell

the last four years, having democrats in charge of -- we talk a lot about the ftc, but there's the occnd the fdic and the fcc and the epa and all of these have been overzealous when it comes to regulation, and i'm learning that has been actually hampering a lot of economic activity. so, an overall better environment on that front, what ceos are calling smarter regulation. what they mean isl less regulation. >> they certainly do. >> it overall helps the mood and the vibe. and as far as the ipo is concerned, election uncertainty removed, more friendly growth environment from the s.e.c., et cetera. >> oh, man, there's so much to talk about. let's get to the markets here, bring in tom lee at post nine, of course, fund strat global advisors managing partner, head of research. s&p target for year-end, 6,300. great to see you, tom. you like to call them granny shots, easy plays, in your view. i have to imagine that list has gotten longer. >> yes. it has, but it's stayed around 35 names. but just high-quality names that are in the right sort of theme. we have seven themes and as long as they'r

the occ head is the temporary head. so the administration will probably but in a more pro-banker.outcome from the banks from a regulatory standpoint we think is quite positive. >> yes, we have had people on, it's kind of weird, there are positives and negatives. for regional banks, we had bob diamond on the other day who was supporting vice president harris. and yet, he made the case how great it would be for small and regional banks if trump were to prevail. so, it's odd. do you think it's a good time now, really good time, for consolidation in small banks and regional banks, gerard? >> it's a good point, joe, because when you look back to the early '80s, we had over 18,000 banks and trusts in this company, consolidation has worked over years. linear, we're down to 4500 today. but they've been stalled over the last couple of years i think this will certainly, i think, support having this administration and the people -- and the key problem being who will be you know, advising him in his cabinet. and if they're pro-business, i think you'll see more consolidation. the other importa

on the deregulatory front, banks could benefit from new heads at agencies spanning from the occ to thering down of rules, including the proposed basel iii, which would require significant hikes in capital levels and more favorable head of antitrust division at the doj could unleash a host of pent-up mergers as well. as for the yield curve, a steeper yield curve would benefit banks because it helps their margins from loan-making. the committee for responsible federal budget estimates that trump's economic policies would add $7.75 trillion to the national debt over the next 10 years, and the prospect of higher deficit levels has been driving up yields at the longer end of the curve. although, to be sure, higher interest rates could also put pressure on unrealized losses on balance sheets and pose a risk to credit quality as well. lastly, having avoided a drawn-out election process creates a level of certainty for bank clients, allowing them to restart big decisions like commercial borrowing, as well as m&a transactions, sara. >> yeah, i guess all in the mix today with the big rally. i me

>> well, the banking system, it's a complex regulatory review done by the federal reserve, and the occof how those would get done under the current administration. i don't think that has been completed yet. my guess is you will step back and take a look at everything happening in the markets, with a new level of innovation happening in that industry, and looking at does it make sense to stop some of these transactions. the level of it investment, you need to have the scale to compete. >> what do you think about -- it was not over regulated, and this administration looked at private equity differently and there's a role of private equity in the health care industry, rolling up doctors and other services like that which appears to have increased prices in many places. do you think there will be a continued crackdown in that space? >> i think there might be, you know, a retreat on the way private equity is viewed in antitrust cases. i think there's almost an allergic reaction where private equity was looked at like the old gordon gecko, break up a company and squeeze it down. that's not h