let's bring in paul davies who has written about this. title is archegos could not happen again. maybe it could. we heard about how the banks did not know what was going on. what is the lesson for banks that bill hwang can be behind the big trades and build up these positions and make these moves without bankers knowing any the better? >> there's a couple of lessons. partly, having a counterpart like bill hwang who is down to trust banks and never going to allow other banks to look at their portfolios with certain big hedge fund investors. the hedge funds don't want it, the banks don't want it, it is too much information. there will be some better disclosure around some of these trades. there's always a possibility somebody will be able to come to you. the thing is luckily, this is a very unusual case. it is rare for somebody to really be dishonest as they have been convicted of being in positions with other counterparties, with other banks. at the same time, his trades did not even make any sense. what was the get out? no one could under

. >> paul transfer to uc davis to study winemaking, following his nose with each swirl. >> i was not enough to drink. the professors gave me a very stern warning that i could not taste any of the wine i was helping to make. >> after that he vowed to never make or taste terrible line again, building what is the pats and hall winery is in sonoma. but with some trepidation he couldn't pass up a deal to sell. >> the deal came at a beautiful time, right before covid and they took away a lot of the pain points of being a small family winery. i thought when we sold it, it was gone. i spent the last couple of years pruning off the emotions. >> four years later it was his own winery about to be pruned off. >> usually the business is a complete failure , so the reason a large company gets rid of it is because it is a disaster and the previous owner comes along and picks it up for pennies. but in this case it was very successful. they needed to reconnect with their washington-based and we were a distraction. i'm just thrilled they took my offer. >> as he proudly wears his own name, the stakes a

paul hessburg: we expect double to triple the amount of area burned between now and 2050. well, how did that happen? [music playing] [siren blaring, police radio chatter] karen davis: i was a registered nurse at feather river hospital in paradise. we received a code black-- get patients out now. and the flames were unbelievable that came up the canyon. my best friend, nichole, was also a nurse at feather river hospital. we worked together. karen davis: ambulances were not able to get to us. patients had to be put in employee vehicles. dispatcher: 10-4, chief, go ahead. karen davis: after we got all the patients in vehicles, nichole and i left following each other. steve pyne: 1910 was really the founding year for the american way of firefighting. reporter: the big blowup. a wild surging firestorm started near elk city, idaho. paul hessburg: the 1910 big burn. it burned 3 million acres across three states, killed 87 people, mostly firefighters. and our awareness and our whole consciousness about fire pivoted in that moment. reporter: this is a picture of tragedy, a tragedy that happens year after year in our great american forest areas-- fire. fire became public en

davis: mr. speaker, i rise to recognize an eastern north carolina native and american tennis superstar, tommy paul. raised in greenville, north carolina, tommy began his professional tennis career after graduating from j.h. rose high school at 18. nearly a decade later, tommy will represent the united states at the 2024 paris olympics. earlier, tommy became the highest ranked american tennis professional, reaching a career high world tour ranking number of 12. in june he won his biggest title ever at the queen's club in london, and followed it up with a quarterfinal finish in wimbledon. as the olympics get under way, we will all enthusiastically cheer for tommy as he goes for gold. with the full support of eastern north carolina, we will be hearing game, set, match. paul. very soon. i yield back. the speaker pro tempore: for what purpose does the gentleman from minnesota seek recognition? >> permission to address the house for one minute. the speaker pro tempore: without objection, the gentleman is recognized for one minute. mr. emmer: mr. speaker, congratulations to minnesota civil air patrol can

susie stride, paul, £200 million to tell us that the cabinet office should be put in charge of emergencies. doesn't seem to me to be a very good use of money. >> your former colleague, david davisould follow the example of sweden, which had a brief inquiry into lessons learned all over pretty swiftly . and then if we want to, swiftly. and then if we want to, we can have the traditional kind of british inquiry where we just put all the politicians on trial, whether it's blair on iraq or now boris johnson on covid, and we can throw mud at them and condemn them and all them and condemn them and all the rest of it. and i'm sure we were very badly prepared for covid. so it appears, was most countries in europe. in the end, we ended up in the middle of the pack. and i'm fascinated by how in the wake of covid, not brexit, but covid, most governments, if you accept, i think spain , canada and france, think spain, canada and france, for the moment, most governments have been thrown out. poland, italy , germany, america, new italy, germany, america, new zealand , australia and canada zealand, australia and canada was quite lucky because of the timing of its election and canada was canada