over the privateers. illinois davis senior, sharon, here a fascinating character, he was issued the last letter of mark in the entire american revolution in march of 1783. but the other story wanted to tell about elias is that when i was writing this book, it was during covid and my daughter, who is now a junior literary agent to new york city, was home, she was about 22 at the time. and she was home and when i came across this picture, i showed it to lilli because i thought he was really handsome, and she took a look at it, and said you, know that i really can't get into privateering. so he's a fascinating guy if you ever come to cape and museum on gloucester, his house is a touch to the museum that is well worth visiting. now privateer captains, they got the biggest share of the prizes. the crewmen got smaller shares. but they also benefited mightily. now, well crewmen were sometimes known by the owners, most of the time they weren't, and they had to be found and enticed. it was common at the time to se

and privateers. a less cynical views privateers men as being by a combination of profits and patriotism. and this view is closer to the truth. part of the reason privateering scorned was that many believe that the practice undermined the republican ideals of the revolution, which called for the sacrifice of private interests in the pursuit of liberty, according to mercy. otis warren, author one of the earliest histories of the revolution privateering had a tendency to contract the mind and let it just shrink into selfless views and indulgences. totally inconsistent with genuine republicanism. many of the founding fathers, mothers and other elites agreed in principle. i mean, in theory, but in practice, however, many elites had a more complex view of patriotism. one that wasn't based on hewing to republican above all else. the majority of the delegates to congress clearly believed the privateering was a endeavor that served the public good. they made it a major part of america's war effort and strateg

la privateering.en he was negotiating the end of a treaty, prussia and was successful in our treaty with. prussia there is an abolition of privateering, but that didn't have a big impact. so around roles the war of 1812 the very strange war that a lot of people don't know a lot about and what does america do again they have a stronger navy but it's still not very powerful. they're still up against the british navy which is the most powerful in the world. so they decide to rely once again on privateers and there are 530 some odd letters of marque that are issued during the war of 1812. and even though the continental navy had a much better record during the war of 1812, it was privateers again that captured more and had an impact on. the outcome of the war. well, after the war, 1812, the number of presidents and other officials argued that we should outlaw privateering. but when the opportunity came to do that in 1918 56, during after the crimean war, there was an international maritime treaty that was

acapturing british privates. they gave americans some confidence especially in the early most disastrous years of the war that we might actually win sosy it had a psychological impact. the last story i want to tell is about my daughterd and again i mentioned i wrote this book during covid and i wrote the book faster than any other book i've written because i had nothing to do other than write this book and i also had some new office mates. my wife started working from home in the kitchen. my son came home from college to do his schooling in the house and my daughter who is a literary agent in new york came back home for a year and a half. none of my kids have ever read any of my books with the exception of my daughter reading my pirate book. so, when i found a picture of a guy named elias davis, he was incredibly good-looking. if you've seen pictures of nathaniel hawthorne when he was young, he was better looking than nathaniel hawthorne which is saying a lot. so i saw this picture and had an idea. ir called my d

he's a privateer. she took a good hard look at you said you know, dad, i could really get into privateering. [laughing] so unfortunately she has a the book to the state but i still have some hope. >> all right, thank you, eric. ben comical hits. so my book, "the last slave ship" is sorted two stories and it's the story of how i found the clotilda which wasbr a last ship to bring in slate africans into the country and it's a story of the ship and the people on it. and so that's kind of what i i want to set up a little bit, reason that a book about the clotilda, the recent people are still talking about itwe is because what we know about the entire affair, cleaned the people who were on the ship. so the ship came in in 1860 right on the eve of the civil war. at that point inin the united states it had been illegal to bring africans in the country since 1808. most people don't realize that. slavery was still legal, but you could no longer import africans. so because of that when the clotilda arrived in am

it is clear no congress has ever made private, made public the full private tax returns of any american taxpayer. this is especially troubling because as you have heard us comment at the end, this committee voted on documents that are not yet complete where admittedly, private personal identifying characteristics have not been read acted from -- redacted from the tax returns and our worry obviously is it is not fair to make vulnerable and to make public information that i think every american would agree should made and kept private. i think is troubling for the behavior and the actions we saw today from this committee. with that i would welcome any of my colleagues who would like to comment. >> i think what you are going to see is it is clear and exploitive what everything the democrats and has been said and of the public president trump has paid his taxes. he has filed his returns. he has been under audit. nothing going on today about releasing his tax returns is going to change the auditing process. that is what the american people need to know. this is about a which cost -- a witchh

privatization, small privatization, large privatization, what did we sell this year, we are a large online auction system where you can buy anything from a chair to giant factories, etc., we privatize and lease real estate and land and sell property banks -bankruptcies and various bad debts, do we conduct auctions with bankruptcy procedures, or do we sell, for example , licenses for the extraction of various e-e minerals useful in the country, it is simply an auction, such a huge, huge system, one of the largest in the world, it is definitely the most transparent this year, the biggest organizers were also a property fund that privatizes its own objects and leases them, the deposit guarantee fund, which sells the property of bankrupt banks, including russian banks that were closed this year and this property the fund actively sold in order to give money to the guys in the banks, and it was successful, and it was successful. well, land auctions were held, and now we will all pass the test point by point for each of you, but this is first of all a worldview or a philosophical one. the questi

what what was it that private school offered that private school in your community didn't offer for youred was an additional mentoring support so there were mentoring programs that were available to individuals who qualified to help with that transition to high school. and with the public schools we had access to at the time, they weren't going to offer the rigor that we were looking for to make sure they were ready for their next stages. >> beth, i think we should go to you because you're an educator, a public schoolteacher and get your response to this. what do you say? >> yes. i've been a teacher in arizona for over a decade. and you know within i think that -- i've seen the shrinking of resources that we're talking about. but i will absolutely always choose public schools as an jaef educator and as a parent. the main differences i see have qualified trained professionals. teaching is a science and profession. >> rodney, i want to get you in here as i understand you're a private school educator and you say you would probably never go into public education. why is that? >> yes, i'm th

alix: what about the positions that private equity already has?re we preparing for restructuring already? guest: it's an interesting market. there's a lot of dry powder. you are seeing a lot of private equity firms lien in and put money to work to help support these companies. we're doing a lot of restructuring business right now with companies fighting themselves with floating-rate debt. companies that have been mismanaged and now we are finding companies that thrive during covid topline growth than that trailed off, private equity is having a hard time with those. the income statement when you're looking at higher labor costs, higher supply costs, you can fix those and that's where we are seeing a lot of the operational turnaround happening. alix: do you think they will be satisfied with the valuations right now or are they waiting? guest: patient capital with :00. 10 year time so you can work your way through really rocky private credit environment right now. in order to get to refi. then hopefully your valuations are coming back. at accordion,

and philanthropy part of private philanthropy is part of private caphal philanthropy is part of private i banged on about on wednesday as well is about it on wednesday as well is i think there are i personally think there are a range activities where range of activities where philanthropy donors charities can do things better and more responsibly than the poor old taxpayer via . the state 100. and taxpayer via. the state 100. and let's just give a couple of examples so we a short last night , this is all about night, this is all about innovation around the climate crisis and. you know, it's high risk capital trying to find new solutions . this problem, it's solutions. this problem, it's too risky for the government. it's too risky for the private sector . but, you know, private, sector. but, you know, private, intimate roles, the whales , the intimate roles, the whales, the whales or any private can put money into that innovation . you money into that innovation. you see this a lot in medical research before is commercial before an idea is commercial someone's got to fund one of the rea

flies private flies private. >> a lot . al gore flies private. michael bloomberg.what does he fly private in a four year period? the un climate envoy, mr. bloomberg, took more than seventeen hundred private flight es, burning more than ten thousand metric tons of co2o . >>2. you could never do that if you filled your yard e with diesel engines and never turned them off, you would not o do that.your car your car emits less than five metric tons of co2 a yearyr . >> s.o this is meaningful. e this is an actual offense ear against mother earth and theth a climate. >> so you have to wonder what the defenders of climate think of this. what about the climate warriorhh ,greenpeace and the sierraental club and the environmental defense fund? if they noticedecl? us ?. not really. have they scolded their donors for undermining their core message? no, of course not.clark, catherine clark, the incoming dm democratic party houseoc whip, doesn't complain either. she should b because her owns nh child has nightmares about climate change. utlet me tell you what it meansa to to me c

it's the private sector that is provided materials. take something simple as picking up the garbage.in almost in every city in america and every state the city is one the lets the contracts but it's the private sector partner that does the work. that's going to continue in every way. in terms of specific concessions, private activity bonds and things of that nature, those models will continue to change over time. you will always have tension of whether or not to treat your employees will and what's a circumstance, if you have sewer and water system and a privacy torts tond come over, come into that and you create a public-private partnership, there are 50 different ways you can do that with the just essentially selling it, making it ag concession, or creating ad a bible where there's public oversight and the folks that get the concession run it with public oversight. you are going to find a different political paced of tt depending on where you go in the country. all of those models will continue and my guess is if we are smart, and i

lobbying, private, loving. well, those private sector is part of cfs. so there's a private sector representation just like there is a civil society group. chris magar, i'll stop you there. more from the former secretary view and committee on world food security after this break. ah, ah . ben, a money with it to what we've got to do is identify the threats that we have. it's crazy confrontation, let it be an arms race. it is on offense. very dramatic development. only personally and getting to resist. i don't see how that strategy will be successful, very clear to kill time time to sit down and talk with welcome back to going undergrad. i'm still here with former secretary, the you and committee on world food security, chris haggard on, on private lobbying. how does it work at these big a, you know, international law level discussions? does someone put a can round up on the table and say, is this fear god? because these are pretty powerful companies that you're dealing with and their lobbyists. right. let me emp

don't involve private stakeholders or private actors. did your time in the committee on world food security take on board that the most successful food security operation can be made by copying? perhaps the chinese communist party. why it's actually my experience before the see about when i was a diplomat living in china. i got 1st hand to witness the way the chinese work. and if you go back to the late seventy's after the cultural revolution shall hang, introduce market reforms, which actually input private sector and the profit motive into play, which is what help drive china's rather remarkable experience and bringing that many people out of poverty. so yes, china is a member of the sea of china's active in the f, a o as you know, in fact that the director general, the fios is chinese. and so their experience does bear on, on, on everything from research and science to i know, the way the global system and trade works. no, don't tell turbine clearly because you get the fun. i mean you are unesco as well. you saw how that the money dri

, a private restaurant.an't they make the same -- >> i'll be honest, i completely am missing the connection between donald trump, the former president, and wanting to make sure you know what he's doing, and customers coming into a restaurant. >> i'll be even clearer, then -- >> essentially blacklisted, something i thought we put back -- >> i'll be clearer. if the crux of the issue is you ought to have control over the people who come into a private establishment and have the right to exclude who you'd like, and one of the criteria for exclusion is based on what you agree with morally or find reprehensible, then the idea of the expectation of say, as an example, a donald trump being required to, in his own private institution, private restaurant, private club, having to have those sorts of criteria -- >> are you talking about nick fuentes? >> are you listening to what i'm saying? >> you didn't say that at all, i have no idea what you're talking about. if you're talking about -- yes, of course. if i were the f

you mentioned the strategies we cover private markets, private equity, infrastructure and real estate and private credit within those, there are different ways to tap into them to take advantage. you mentioned infrastructure there, you've got inflation linked revenues which is a good way to invest in the environment. and private credit, you have investments linked to base rates. those pass through to your portfolio. we see investments in this difficult environment. >> as you speak to your clients, the conversations, particularly on a sector basis, where does that sit where do you tell them to look toward for your sectors? >> we have been concerned about the environment for several years, it takes a long time to build a private market portfolio. you have to look quite far ahead. it is 5 or 10 years investment at any time we have been tilting clients to the sectors we see perform well. healthcare and technology. the shine may have come off those sectors, but the subtext within those with good performance. and sectors is one way to think about it the other is the private market and how y

i have to say when i worked in government we talked about public-private partnerships. most of the time it meant we wanted them to write a check. what i delight about the sufferer is eight is not just about writing the check. -- what i am delighted about with this effort is it is not just about writing a check. it is part of verse drive commission to support small businesses. mr. adeyemo: one of the things we are focused on at treasury is as we think about racial equity, how do we execute? execution does not only involve capital. but it involves what are we doing in terms of building capacity? i know that money matters in this is a place where bank of america has been focused in terms of leading the charge. i wanted to ask bank of america why they are involved in the equal opportunity coalition. >> thank you for convening this panel. similar to my colleague, it really aligns with our focus on responsible growth, which is both how we run bank of america and the framework that our ceo has laid out for us. it means we have to deliver for our employees come for our clients

al gore flies private. michael bloomberg flies private. the u.s. envoy took more than 1,600 flights burning more than 10,000 metric tons of co2. you could never do that. if you filled your yard with diesel engines and never turned them offer, you would never do that. your car emits less than five tons of co2 a year. so this is meaningful. this is an actual offense against mother earth and the climate. so you have to wonder what the defenders of climate think. what about greenpeace and the sierra club and the environmental defense club? have they noticed this? not really. have they scolded their donors for undermining their core message? no, of course not. katherine clark, the democratic house party whip doesn't complain either. she should be because her own child has nightmares about climate change. >> let me tell you what it means to me coming in as a different generation. i remember my middle child waking up with nightmares over concern about climate change. >> tucker: okay. so you terrorized your own children. you scared the crap about kids abou

they are relatively more active than private equity. if you are private equity with the u.s. dollar fund, you are more active. if you are uk corporate, you are not looking at m&a at the moment you think how do i weather the storm and make sure i'm okay before i move. obviously some are well capitalized and some will do something. by and large, it is the overseas bidders are most active. we will see that going through next year and hopefully in the second half, private equity will be more active they are not have the impetus to move from screening to making a bid. we will see that in financial institutions and health care we have seen a lot of tech valuations are down there. it will depend on a willing seller and buyer there >> that makes sense. the impact of weaker sterling. stuart, thank you. >>> could gold prices climb as high as $3,000 will the bank of japan fix its economy? saxo's predictions look at a series of unlikely scenarios occasionally, they do come true like in 2015 when it included the uk future exit from the eu steve jacobson explained some of those outrageous

lobbying, private, loving, well, those private sector is part of the effect. so of course there is a private sector representation just like there is a civil society group. chris agra. i'll stop you there. more from the former secretary of the you and committee on world food security after this break. ah, ah ah, when i was so think wrong when i was just a to see out because of the african and engagement nicholas the trail went so many find themselves well to part. we choose to look for common ground because these are the federal de sweden, c o u. s. mission funder, washington foot, about sean on house. please be fun, claudia with john other day and you play with charlie guys. i'm 20 with a constant showing my means when you get, when you come to the party, should you show a teacher go get a new owner of sheila. the deal is get a minute. looks for them to remind you those number to push those in the promotions to get a minute. those new with store creased. you have to other but i should characters. a new fact is until you finish this soon. bad. and also washing

lobbying, private, loving, well, those private sector is part of the effect. so of course there is a private sector representation just like there is a civil society group. chris agra. i'll stop you there. more from the former secretary view and committee on world food security after this break. ah long went out. so think wrong when i just don't want you to see how this becomes the advocate and engagement equals the trail went so many find themselves will to part we just to look for common ground. ah, welcome back to going underground. i'm still here with the full, the secretary view and committee on well food security, chris haggard on, on private lobbying. how does it work at these big, you know, international level discussions? does someone put a can round up on the table and say, is this fear god? because these are pretty powerful companies that you're dealing with and their lobbyists. right. let me emphasize was dealing with because i'm no longer secretary, but the and again, the weight of us is that it is a intent that brings in every one. rome of course

can privatization be carried out?erprises may be in time after the war, eh, here the situation is like this, which means that all enterprises today have the status of military property and are under the management of the ministry of defense of ukraine. next when a corresponding decision was made, it was written that after the cancellation of the state of emergency, these assets can be returned to the owners or their value can be compensated accordingly, how will it happen today? if the state makes a decision and there will be appropriate agreements with the owners well, there is a lot if yes, then this compensation will take place for five years during the period of the state of emergency or if again, appropriate agreements will be reached within a year after the end, after the lifting of the state of emergency, this money will be paid, the owners will pay another option - indeed, the state will nationalize them. but again, when it comes to nationalization, it is usually like me it seems that primarily paid nationaliz

structures, expertise, a private design company, a private urban planning control, a private state isot there at all, build what you want, and these are such privileges made only for buildings for others market participants, the procedures for how fines will be imposed are very clearly written, and this corruption feeding trough is also left to the ministry of regions. now we will have complaints to consider and fines to be imposed on everyone that is, it will also be burned, for example, with zones that fall under the formal protection of unesco, we understand that we are talking about the kyiv part and the central part of lviv. - this is in principle a con project may not work, i don't know how powerful the influence of developers will be now, in particular well, they acquired the right of ownership of this or that plot , bought it absolutely transparently and accordingly decided to fill it up there 300 floors high, yes, maybe we will be more modest there by 257 floors, yes, and accordingly we understand that the city will lose in general how do we understand that the proportions of

and all of that expertise that private partners can bring to a city like new york. not just with mastercard. it took years, but once you have that kind of relationship it is easy to work on future initiatives. so we really encourage other corporations to also engage with us now so we can build more of this kind of relationships. >> i feel as if we have just started a conversation, but unfortunately our time is short and i need to wrap things up now for us. i do want to tell those who are watching, and those who are in the audience that i think that one of the things is going to be critical to us in terms of advancing this work is a partnership between local state government, the private sector, and nonprofits to advance this work and the key question we have to keep asking ourselves, is how do we scale. not just money, but also people and technology, to address this challenge, and how do we do it together. so thank you so much of the time and thanks to all four of you for the work that you are doing in this place. [applause] please remain seated. our program will co

so, when they cope with us, state medicine is connected to private medicine. private medicine. please tell me they were closed we have several medical centers. here, including some are now closed and have not received. they have a work permit again, what is the reason, is it greed, or is it carelessness, as it were, due to the fact that professionals work for me. we have actually checked several private centers and i want to say that this is a business. that is, the relationship is such that if there is an opportunity to earn money, there is demand, respectively, the price goes according to this demand . the ministry of health regulates individual prices for services, these are services, including including diagnostic ones, but as control measures showed, prices have not increased for a long time and, accordingly, the clinic found ways to offer comprehensive services and include as many indications as possible in order to be cost-effective, but this method gave its plus and , accordingly, began to scale, this practice. we are now, in addition to medical center

can privatization be carried out ? here the situation is like this, which means that all enterprises today have the status of military property and are under the management of the ministry of defense of ukraine. further when the relevant decision was made, it was written that after e-e cancellation of e-e state of emergency, these assets can be returned to the owners or their value can be compensated accordingly, it is difficult to say how it will happen today. well, in addition, there are two options for compensation. the first option is if the state makes a decision and there are appropriate agreements with by the owners well, there are a lot if so, then this compensation will take place within five years during the period of emergency or if appropriate agreements are reached again within a year after the completion of the lifting of the state of emergency this money will be paid this money will be paid by the owners another option - it's really uh rust will nationalize them but again when it comes to nationalization

, but is a huge amount of private. and yes, in the past, sometimes the crises of the corporate sector or the household sector, but it's not just public debt. you know, before the covid crisis, the fed was writing financial stability report, warning about the of corporate debt, highly leveraged firms that were issuing junk bonds. previously high grade firms that were fallen angel and they were downgraded to below grade leveraged loans as close as private debt. we avert underwriting that was very, very loose and risky called light, then you name it. and guess what? when the covid crisis hit so that zombie corporate did not go bust because, we cut policy rates back to zero to negative in europe, we did massive quantitative and credit easing. we even bought a corporate debt for the first time in the us and not just high, but even junk bonds even high yield was purchased by the fed. so everybody. this was even a zombie household. zombie corporates zombie governments. zombie banks, zombie shadow banks. zombie. they were bail

as part of this after, a group of private philanthropies and companies have come together to form thealition. a coalition devoted to working alongside the federal government to scale up the investments that we have made that have been a strike in these communities to make sure that they you are getting that virtuous cycle that i have just spoken about on stage today we have two members of that coalition, and to benny fisheries or some of the work that has happened between the private sector and the government in terms of the partnership that we have formed. and we want to have a conversation about both the eoc, the economic opportunity collection, and some of the work that they have done in the non 94 weeks that they have existed since vice president harris announced the creation of this coalition and the public private partnership that we have together. and what i'm going to do first is go to mastercard in pick of america, to the founding members, to talk a little bit about why they're members of the eoc and what the eoc is focused on doing that alliance with their businesses values

a private legal provide tests.irmingham with only two employees is a new website saying they could provide scrubs and gowns . saying they could provide scrubs and gowns. this was a very odd, sort of eclectic list cobbled together by the labour party and sent across to the conservative party . how is sent across to the conservative party. how is that any different? let's let's get something absolutely straight. that was not a list of suggestions by rachel rees . that suggestions by rachel rees. that was not her doing as what we now know. michelle lowndes sort of ringing lord bethell that lord deighton up and saying, you know, look, look after this person. list of names person. this was a list of names of who had that of people who had cons that injured rachel reeves and said, of people who had cons that injured ibe 1el reeves and said, of people who had cons that injured ibe considered and said, of people who had cons that injured ibe considered for said, of people who had cons that injured ibe considered for thisi,

with private sector expertise to help elicit private sector investments ande innovation. mr.n? >> and we are always eager to work with the agencies to find solutions and if the agencies couldn't get out the grant application programs to take advantage of the authorization under ij and ira to come up with innovative ways to further decrease energy use and decrease omissions we would be glad c to do that. >> i. will echo what mr. johnson said we are eager to get to work and build the bridges so they are not falling in the state of pennsylvania so to partner with a great project. >> similar to that with the ongoing dialogue with the regulatory policies put in place to recognize the objectives that you all put in place in the administration is pursuing and we want to be a part of that solution to be involved in the dialogue at the front-end as opposed to the backend that is essential to success going forward expect administration has done a great job to solicit feedback and we would say we hope they listen to the recommendations but additionally we hope the states and others will

into your private establishment.on't know. it's a bad idea. it's a bad idea from the right or the left to tell people that based on their political beliefs, they are not welcome, you are not going to serve them. especially since they have not shown up yet. you cannot say that your waitstaff felt unsafe based on the idea of them, based on the fact that they might come and you are just uncomfortable by their very presence. i think that sets a terrible precedent. you can have your political feelings about everyone. but it is also this false notion of security that you are safe from ideas if you cannot see them. >> i asked the question of the plaintiff in this case in the supreme court the other day, talking about this very issue. -- concerned about people using her as an example. and saying, listen, it's my own private business. it is going to lead to a kind of a slippery slope. >> i talk on the graphic designer? >> let's listen. >> what is the line that say, distinguishes you from the artist, on the auspices of saying

>> oh, yeah, i think that many people have to seek private investments. as i write in the piece, there's no good story which too much money can't spoil what began as a pretty sound idea, led by legends such as david swenson at yale university, he invests in private markets as a way of providing long-term capital to get long-term returns. when he was doing it, he was one of the very few people doing it. then he got great returns out of that the problem is, in the last few years, you have a rush of capital. so you have so much money chasing the few deals out there because everyone wants to get in, that there's a massive valuation premium on private investing now. and i think that that's where things have gone wrong that's -- there's far too much money chasing the few deals. and they're all looking at past returns without realizing the fact that it's a different story when you have little money out there, and that selectively chasing deals. so, you know, at the top of the hour you had a great discussion about, for example, tech companies. i think that this i

what actions are being taken to support private initiative?ou help entrepreneurs who already have their own business and an entrepreneur who just wants to open their own business now. the first thing that entrepreneurs say is that if in russia the security forces would have given us a tax service, the prosecutor's office would not have bothered us there. that would have been the best measure support the second presumption of innocence. here's the second thing, he says, we don't need any state support, nothing to give us cheap money, long-term better. well, at least they are just cheap, because, of course, all over the world loans are cheap in russia . uh, there corporations sme. few medium businesses. there is an industry fantasy, where money is given at one percent per annum at three percent and is given as long money. and there. come there, show your industrial production project. and pro will support you, so cheap money, preferably long, but it ’s just cheap money and so that there is no excessive regulation, so that there is no need to con

they help to leverage private sector expertise. and help to illicit private sector investments. and mr. johnson, would you go first? very briefly. >> sure. we are always eager to work with the agencies to find solutions and to move the stuff forward. but one of the things that the agencies can get out is there granted location programs, so you can take advantage of the authorization under iija and i.r.a.. to come up with innovative ways to further decrease energy use, and decrease air emissions. >> thank you. mr. mills? very briefly. >> sure. i think i will echo what mr. johnson just said. we're eager to get to work, we want to build those bridges so they are not falling in the state of pennsylvania. so we want to partner with any agencies for a great project. >> all right, thank you, ma'am. >> yeah. and similar to that, the ongoing dialogue about regulatory policies or put in place in our industry. it recognizes narratives that are put in place and the administration is pursuing. and we want to be part of that solution, whether it be involved in the dialogue at the front, and a

and dhs working with some of the private owners of these. can you briefly tell us where the situation, what the situation is and now you're-- how you're going to address it? >> so, some infrastructure was attacked. it appears to have been deliberate. and we are working with energy companies and local communities to address the situation, impacting the power that reaches homes in the targeted neighborhoods. the question is, is it an act of deliberate malfeasance or otherwise, early evidence suggests that it was deliberate and the investigation is underway. but this is one where the investigators, federal and local, are working very hand in glove with the remediators, the private sector, local communities, to bring a holistic array of tools, responsibilities, authorities, capabilities to bear to address the situation, to remediate it, to learn from it, to communicate to others so that we become more resilient and prevent the next one from occurring. >> thank you, mr. secretary, it's a lightning round and thank you very much. we'll have suzanne

government and the private sector, the cyber safety review board. the csrb conducts authortative fact finding and makes recommendations to the community in the wake of the biggest cyber security incidents. in this environment, even the smallest organizations stand on the front lines defending against the most sophisticated nation states and nonnation states threats. these organizations, including small businesses, critical to supply chains and local governments that give critical services to their citizens have higher risk profiles. when it became clear that russia was planning its invasion of ukraine, we mobilized the private sector to proactively harden its cyber defenses against disruptive russian retaliatory or spill-over attacks through a public awareness campaign called shields up. the largest effort of its kind in history. when russia did invade ukraine earlier this year, president biden immediately turned to dhs designating us the lead federal agency for domestic preparedness and response efforts to ensure national vigilance for preparation

personal information of the private citizens? their social security number, children's, children's social security numbers. and i said we need an amendment to redact that information. i was told we are not going to vote on amendment. but everyone says that no one's above the law. we were told good faith, good faith would redact the full transcripts. it would be decided by the majority staff. has the minority staff been able to participate in it? no. we don't even know what the final documents of the tax returns that's going to be released, what they are going to look at. this was another example where you to pass something before you know what's in it. that's what pelosi's done this entire congress. that is exactly what the ways and means democrats did. they have charted a new territory for the ways and means committee. it's the oldest committee in congress. supposed to be the most bipartisan committee in congress. but they ignite add new political tool -- ignited a new political tool that future congresses will now utilize. i ha

that is a big headwind for private equity and a massive tailwind for private debt.we can arrive 12%-50% -- 12%-15%, that will be effective. i think it will compare favorably. dani: this is a little different than what you are describing. i know this is not your world, but with blackstone and behemoth companies, whether it be real estate are private credit, do you think some of these equity funds have grown too big, too fast? robin: i will not mention any particular firm. they are a great firm and do a lot of things well. in general, when you are dealing with liquid situations, long-term capital is a good thing to have. for private credit, one of the things it can navigate the market we are in so effectively is the mass -- vast majority have capital. they are set up to be shock absorbers in the system. dani: what you expect the default cycle? robin: i expected to be bad. i expect -- i've heard say -- i've heard people say that we could see defaults rise and recovery rates will be lower. documentation over the last several years have slipped badly. i will expect rates

the public-private partnership cybersecurity and ppd. i see tom at work here with the thought leaders in the department continued to build greater cohesion movement working with whatever incredibly dedicated servants have been working on this issue since inception. we are stronger today than they were yesterday for the process is an ongoing one. were going to be better tomorrow than we are today the crux smoked a lot of officials obviously were very focus on what's happening overseas. right now insider threats domestic terrorism it can get very dangerous. infiltration of the military, and fermented. these are real concerns that are growing by the date. i wonder how the department stepping up efforts to combat that? not just in the country but in-house? >> me take a step back and talk about in the country first. we built a capability that was directly relevant and critical to addressing the domestic threat environment that did not occur 10 years ago. that is the capability to predicate work out a public-private partnership. that is what o

government, and the private sector, to cyber safety review board in this esrb, connects authoritativeg, makes recommendations to thes community and the cyber security incidents. in this environment, even the smallest organizations, still in the frontlines defending against the most sophisticated nationstates and non- nation state threats these organizations including, small businesses, critical supply chains and local governments, the administer critical services to the residents, have higher risk profiles. what became clear, there russia was planning his invasion of ukraine, we mobilized to, the private sector to proactively pardon his cyber defenses against destructive russian retaliatory or spillover attacks through public awareness campaigngn called shield the largest effort of its kind in history. when russia did invade ukraine earlier this year, president biden immediately turned to dhs y designated us to lead federal agency domestic preparedness and response efforts and to international vigilance in preparation for any effective conflict that could touch the homeland and we sha