commissioner, we have a new chairman of the securities and exchange commission. what's he like to work with? what do you think will be the prior thousands of reconstituted securities and exchange commission? >> first of all, thank you, david, and thank you heritage for hosting this great event. i look forward to questions from folks in the audience. anyone who has seen an f.t.c. commissioner speak knows what's coming next. the views i express are my own hey do not necessarily reflect those of anyone else on the commission. that said, it's awesome working with the commission. back before the election, we were a commission who cared about enforcement first and the dodd-frank death march second. we have a new chairman who was chosen by the president to remember that we have a three-fold mission, to maintain investors and a fair market but also promote capital formation. when you saw the press releases when he was announced a as the nominee, in chairman clayton's speech last week you see the capital formation part of the mission is a broad theme we'll continue to work

commissioner piwowar, we have a new chairman of the securities and exchange commission. what is he like to work with? and what do you think will be the priorities of the reconstituted securities and exchange commission? >> thank you, david, and thank you heritage for hosting this great event. i look forward to the great questions from the folks in the audience. anybody that has seen a s.e.c. commissioner speak knows what is coming next. the views i express on my own and do not reflect the views of anyone on the commission or the commissioners. it is awesome working with our new chairman, jay clayton. thinking back to before the election, the way the commission was headed, we were a commission that was headed by a chair who cared about enforcement first and the dodd frank death march second. we have a new chairman that has come in, chosen by the president, to have an agenda that remembers that we have a threefold mission, not only to protect investors, maintain fair and orderly and efficient markets and to promote capital formation. if you saw the press releases when the p

something like the 10k report that all public companies are required to file with the securities and exchange commission. try typing in 10k for government. , iturns out a year later found one and it is written up by the department of treasury. it is good, but it is not really all that you would want. we started on this project am a group of us, to create a 10k for government. and an annual report, which is easier to read than a 10k and a website. what are the principles that we were ground in? first, only government data. to be thes have businesses' data so we used 70 sources out of 120 databases. beber two, you have to factual and unbiased. no forecast. no projections. i think that is very important. there are plenty of people who do forecast and that is where there is some since a bias that come into peoples' heads because nobody knows what it is. 10k has to be comprehensive and talk about the whole business in a reasonable and responsible way. 10k have to provide contests, historical and others. find in a things we lot of political debate is people will snatch one number out of the air and without co

something like the 10k report that all public companies are required to file with the securities and exchange commission. try typing in 10k for government. , iturns out a year later found one and it is written up by the department of treasury. it is good, but it is not really all that you would want. we started on this project am a group of us, to create a 10k for government. and an annual report, which is easier to read than a 10k and a website. what are the principles that we were ground in? first, only government data. to be thes have businesses' data so we used 70 sources out of 120 databases. beber two, you have to factual and unbiased. no forecast. no projections. i think that is very important. there are plenty of people who do forecast and that is where there is some since a bias that come into peoples' heads because nobody knows what it is. 10k has to be comprehensive and talk about the whole business in a reasonable and responsible way. 10k have to provide contests, historical and others. find in a things we lot of political debate is people will snatch one number out of the air and without co

commissioner pirowar come with the new chairman of the securities and exchange commission. what do you like to work way and what do you think will be the priorities of the securities and exchange commission? >> thank you your judge for the great event. i look forward to questions from the audience and anyone who's ever seen in sec commissioners beat knows what's coming next. these do not miss their effective visit and the commission are my fellow commissioners. think back to before the election from the way the commission is headed. we were a commission headed by a chariot cared about enforcement first in the dodd-frank death march 2nd. meeting new chairman chosen by the president by the agenda to protect investors and efficient market intent to nominate the incoming chairman and chairman claytonspeech with the capital formation is a broad theme we will continue to work on it the sec. >> interns that the sec, are you all taken steps to talk through any kind of legislative agenda? >> sure. some of the things we would like to do. obvious the terminal set the agenda, but he an

energy regulatory commission so this is one of the many independent agencies like the securities and exchange commission. commodity futures trading commission where the president appoints you know five members the senate confirms them but then once those members are appointed they serve a set term and do not serve at the pleasure of the president so like rick perry the secretary of energy or scott pruitt the head of the environmental protection agency these are cabinet level officials that are hired and fired by the president the chairperson of the federal energy regulatory commission can't just be fired by the president and it's called first for exactly and so what my fear is is that trump is going to do a komi here because he hasn't named a chairperson of at the point that we're recording recording this by a little bit now right but i'm not sure that we're going to see it for a while really because i mean they haven't seen we might not be as what the what i think is going on is trump is making sure that he's going to secure a loyalty pledge out of the chair for to say i you need to be in line with our

gather your statements and supporting documents and file a complaints with the securities and exchange commission and the california of business oversight. i'll post some like links on the website or facebook now. they tend really not to like that if you call me at the station. >> vernon asks, when you create an account with a wireless company and never use it, allow do you close and cancel the account once you receive a bill? >> i want you to go online or call customer service. sometimes you have to pay a lot. they should be fine with you just closing down the account. sometimes people set up an account but never get the phone going. if that's you, you won't have any problem. they'll let you close the account but i'm afraid they got the phone going. >> earl asks where is the place to get a cheap drone. >> target, best buy, amazon. go to tomsguide.com. it's great starting point. they review drones and they review them. it's anywhere from $14 to $1,000. there's one there you're going to want. go check that place out. if you have a question for me, you can record a 10 to 15 second long question. sh

will open up to the audience questions and answers so that you all can participate in the discussion. we have a new chairman of the securities exchange commission. what do you like to work with and what do you think will be the priority's of the securities exchange commission? >> thank you david and heritage for hosting this event. i look forward to questions from the folks in the audience and anyone that's ever seen the commissioner speak you know what is coming next. the views i express my own do not necessarily reflect those of my fellow commissioners and that said, it is often working with the new chairman. thinking back to before the election, the way the commission was headed, we were a commission headed by the chair that cares about enforcement first and the march 2. we have a new chair man that has come in and was chosen by the president to have an agenda that remembers that we have a threefold mission that is not only to protect investors and maintain fair and efficient markets but also protect capital formation and if you saw the press release when the president announced the intent to nominate for the incoming chairman and the speech

tomorrow, commissioner of the securities and exchange commission, about the impact of federal regulations on trying to raise capital. the heritage foundation event is lif -- live on cspan 2. on thursday in a sitdown conversation in dallas, george w. bush and bill clinton talked about the importance of leadership, post-white house careers, and working to build better communities. the george w. bush and clinton presidential libraries hosted the discussion. it is over 45 minutes. [applause] >> pretty strong, tough to follow that act. i would like to think mrs. bush. bush.nk mr.s -- mrs. >> i was supposed to do that. how are your parents doing? former president bush: i hate these tough questions. i told dad today that i was going to be on stage with bill and you were the moderator. >> what did he say? former president bush: he was surprised. surprised you cannot do anybody better. former president bush: they are doing well. i am fortunate to be the only president with both parents alive after the presidency. every day it is a blessing to have your mom and dad alive. they are doing well. 93 an

tomorrow, commissioner of the securities and exchange commission, about the impact of federal regulations on trying to raise capital. the heritage foundation event is lif -- live on cspan 2. on thursday in a sitdown conversation in dallas, george w. bush and bill clinton talked about the importance of leadership, post-white house careers, and working to build better communities. the george w. bush and clinton presidential libraries hosted the discussion. it is over 45 minutes.

. >>> last month the leaders of securities and exchange commission and commodities future trading commission talked about proposed budgets for their agencies. they were at a sub committee hearing for an hour and ten minutes. >> good morning the sub committee will come to order. i would like to welcome our witnesses. thank you both for being here. we look forward to hearing from both of you about the details of your budget reest requests. as members of this committee we have a responks blt to ensure the funds we see are spent wisely. both are seeking increases for 2018. requesting 242 million or 15% higher than 2017. the sec budget has grown to now 1.6 billion. the cftc is requesting 281.5 million. for comparison, the cftc was funded at 62.7 million in fiscal year 2000. the budget now has reached at least 250 million. access to funding does not necessarily ensure an agency will achieve its mission. you both have challenges. in the case of the cftc leasing costs and practices have raised concerns about effective management of federal funding. all agencies have to make strategic decisions on ho

. >> the security and exchange commission says that currently, penalties aren't strict enough. >> thison is simply akin to asking someone to put the cookies back in the cookie jar. >> the biggest insider stock trading case ever. >> investment banker dennis levine collected $12.5 million in illegal profits by gaining advanced knowledge of 54 takeovers and would buy stocks in the names of two dummy corporations in panama. >> it was the first time the s.e.c. has been able to nail down insider trader. somebody with a million dollar a year salary which apparently wasn't enough. >> insider trading could become wall street's watergate. >> authorities might be able to develop a list of new suspects. >> we start the investigation, and once his lawyer advised him that his in his interest to cooperate, he would give you the information. to him, it was just another deal. >> i think the judge made it clear that he would have given a heavier sentence except for the cooperation. >> dennis levine was one guy doing insider trading and that's not new. but what he did was lead to ivan boski. >> ivan bosk

we undertook policies that helped make this happen, regulated finance, securities and exchange commission, glass-steagall, we imposed taxes at high rates in this period and invested in our own people to get into the middle class, said a generation to college through the g.i. bill, encourage homeownership, invested in infrastructure like highways they created jobs and growth and put into place programs that would lift up the poor, medicare, medicaid. in this era economic inequality became less of an issue. i know some of you have been thinking from the very start you have been objecting but what about women, what about african-americans, how many can possibly coexist with the reality of deep any quality between these groups and across these groups? in the book i just wish between two traditions, the first is the one i have been talking about so far, tradition of the middle-class constitution and the idea here is for there to be a republic you have to have relative economic inequality with the political community. this leaves open an important question. the political community, that is a qu

. >> the former chair of the securities and exchange commission, michael

and file a complaint with the securities and exchange commission.ancial industry regulatory authority in the california department of business oversight. now, you don't have to remember that. i'll post all the links on our website. just go to abc7news.com. now, if they don't work out for you, i want you to call me here at the station. i think i can take care of it. good luck, and thanks for your question. >> seven on your side's michael finney heading to the north bay to hear your consumer questions. he'll be at town center courta madeira. you can also ask the questions on social media. just post them with th the #askfinney. >> at 6:30, trouble for the effort to repeal and replace obamacare. while senators are losing hope of an agreement before the summer recess. >> police want you to take a close look at this lady. the stunning crime she's accused of planning. >> and after a deadly terrorist attack in manchester, singer ariana grande gave back to the city. today, the city of manchester is repaying the singer. i'll tell you how next. >> i'm getting

other thing that has clearly changed is the securities and exchange commission was considered the blue ribbon or gold standard of regulation. i haven't read your book so i don't know if you mentioned anything like that. but it understood it had two mandates and those mandates were not no conflict, actually worked together. one was to keep the capital markets open and thriving, and the other mandate was to protect the investors, which some people would say you can't do one without the other but they were very good at doing both, walking that very fine line in making sure. now, their philosophy, someone mentioned disclosure, and i'm sure you know the sec philosophy was disclosure instead of doing merit regulation, we won't -- in fact in theory -- never heard it happen -- the theory was if somebody tried to sell interest in a trash pond on the grounds there may be gold in it, as long as they disclosed everything and said we don't have any reason to believe there is any gold in there, it was perfectly all right. but on the disclosure, i still have some of the prospectus that i worked on th

what the conflictsr particularly an agency that has very technical issues like the securities and exchange commission, because they have more expertise than o.g.e. in that specific area, which is why we have a decentralized ethics program and 4,5,000 working out of the agencies. it's not a perfect process and the cure is to have people from all walks of life study these forms and particularly people of financial expertise speak out if they see something. >> i know that in the federal government gift giving -- now that you are in the nonprofit sector and hope you will accept this as a token of our thanks. walter: thank you very much. \[applause] >> thank you everyone for being here and those viewing at home. we're adjourned. [captioning performe sunday, un-american history tv on c-span3, we look it to u.s. presidents. at 6:00, jfk's life in photos from the collection of images that chronicle the life of the 35th president. thehe wonderful thing about kennedys is they never pushed photographers or writers away. they did not care how they were photographed. whether the tie was fixed, this or that. they

and the fec has enforcement capacity with regard to civil liability, but they're not a criminal prosecutor. just like a federal prosecutor can bring a securities case instead of the securities and exchange commission or an environmental case instead of the epa, there's no reason why they can't bring a criminal election case. and in fact, lawrence, i'm sure you recall that there was a raft of such charges that were brought during the clinton administration by a team of doj prosecutors that were put together to enforce election laws with respect to criminal violations involving the second clinton campaign. >> michael isikoff, your latest invaluable reporting is a brilliant connect the dots piece. you've got the diagram for us of all of the characters in this story and how the linkage goes from the trumps to russia. >> exactly. i mean one thing that people have to focus on here is the folks mentioned in the e-mails have layers of financial relationships. donald trump, donald trump jr., and the ago lair offs. i had actually interviewed months ago rob goldstone because i wanted to understand what went on in moscow 2013 when trump went there. and he laid out that there was much more to the visit than pe

conversations] >> more live coverage coming up at noon eastern with a member of the securities and exchange commission. he will talk about the impact of federal or regulation on trying to raise capital. coming up at 3:00 p.m., the u.s. senate is expected to work on president trump's nominee for deputy defense secretary, patrick shanahan. the house is back at two eastern today. members are scheduled to consider a bill to oversee and regulate the washington metro system. later, bills related to gas pipeline construction and governmental regulation. >> sunday on q&a. >> when we look at president obama domestic policy, two things are very important that will have long-lasting good consequences for the united states that can be summarized in four words. elena kagan and sonja certainly our. >> mr. garo talks about his book rising star. the making of barack obama which covers president obama's life up to winning the presidency. >> i think the point to emphasize is that over the course of iraq's presidency there were scores of people in illinois who had known him years earlier that were deeply disappointed wi

what the conflictsr particularly an agency that has very technical issues like the securities and exchange commission, because they have more expertise than o.g.e. in that specific area, which is why we have a decentralized ethics working out ,5,000 of the agencies. it's not a perfect process and the cure is to have people from all walks of life study these forms and particularly people of financial expertise speak out if they see something. >> i know that in the federal -- now nt gift giving that you are in the nonprofit sector and hope you will accept this as a token of our thanks. walter: thank you very much. [applause] >> thank you everyone for being here and those viewing at home. we're adjourned. [captions copyright national cable satellite corp. 2017] captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org >> we didn't tax our way. what we had in the 1990's was the clinton administration and gingrich-led house and the senate, get to welfare reform and spending restraint and keep spending flat while the economy grew

agency what the conflicts are, particularly an agency that has technical issues like the securities and exchange commission because they have more expertise than oge in that area, which is why we have a decentralized with many working out of the agencies. it is not a perfect process and i think the best disinfect ant to cure is to have people from all walks of life study these forms, and particularly with financial expertise speak out if they see something. >> so i know that in the federal government gift giving creates a lot of questions, but fortunately now that you're in the nonprofit sector we hope that you will accept as a token of our thanks this national press club mug today. >> thank you very much. [ applause ] >> with that, thank you, everyone, for being here. thank you for those viewing at home. we're adjourned. moult. >> after a long night on the senate floor with lawmakers voting on health care repeal legislation which voted on the senate voting not to advance the skinny measure, president trump repeated, three republicans and 48 democrats let the american people down. as i said from the beginn

it's regulated by the securities and exchange commission. did you know that? taylor: no.put you in [bleep] jail. it's not like you go to court, and you get sued. jeff: if it went the wrong way, yes, i'm up [bleep] creek, but i've protected him against any -- lemonis: how have you protected him? he's an officer of the company. they'd come after him, too. taylor: i didn't actually know that. i should not be an attorney. i shouldn't be involved in all this kind of stuff. i don't trust what's going on. how the hell -- lemonis: do you trust your dad? taylor: on a business standpoint, no. lemonis: what did you tell me in the car in the drive-through? taylor: i told him that i never felt like you're my father. he asked me about it because i say jeff, like, i use your name when i talk to most people professionally. jeff: don't ever reference me by my first name, or i'll put you on your ass. i don't care if we're in front of him or in front of that [bleep] camera. i'm dad. you ever refer to me as jeff in public or anywhere else, this giant physique is going to put you down. i won'

pick columbia university law professor robert jackson for a democratic slot on the securities and exchange commissionnidentified people familiar with the matter. jackson is being vetted by the white house after being recommended by senator chuck schumer. global news 24 hours a day, powered by more than 24 -- 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. julia: "what'd you miss?" let's get more on that develop and story out of north korea launching its second icbm in a month. marty shanker, our executive editor for international government and economics, joins us. great to have you on the show. kim jong-un really does pick his puts moret it clearly pressure on president trump, the chinese, and the japanese. what do we expect? marty: the same problems with reacting to this provocation every time the north koreans send up an icbm exist now as in the last time. military options, even though the pentagon said they discussed military options with south korea, have the potential of being disastrous. what they have to fall back on is trying to convince the chines

so basically, what is happening yesterday we had a meeting with the securities and exchange commissionwas a practical side and a hechological side to the way did approach creating businesses. how did we get capital formation? so that is a lot of the dynamics. a tailwind offsetting part of the concern over the withdrawal of monetary stimulation. and then you have the expectation of factor of less regulation and the spending of a fiscal nature. tom: i want to show this. this is the secret of mario gabelli. this bag is embarrassing. it looks like the pan am bag that leonardo dicaprio had in that movie. this is old-style with legal papers. is there anything in there on jamie dimon? mario: first of all, jamie dimon is brilliant. i found a manual report of a company that is a tiny bank in southern california that has been in business for 100 years. shares of by three month of that because it doesn't trade much but those are the heirlooms that you want. jamie dimon understood the world and the future. my clients, the trust banks. bank of new york and northern trust. why? what happened in the

that said, let's regulate and create honesty and integrity in the stock market, the securities and exchange commission, so it's a safe place to invest. you can invest with confidence for the facts. they created the tennessee valley authority that provided electricity. and they forged social security so that for the first time americans could count on having some income when they retired. we had another we the people versus we the powerful battle -- the civil rights movement. there were those who wanted to suppress opportunity on the basis of race, on the basis of ethnicity, but we the people came together and said, here in america it is going to be a land of opportunity for every single individual, no matter your race, no matter your ethnicity. you get a chance to thrive here in the united states of america. the doors cannot be slammed in your face. that incredible 1964 civil rights act, forged right here in this chamber where i'm speaking at this very moment, that was an incredible we the people moment. but it is not a battle we've completely won, because still even today in many states across our co

a conversational business regulations and the economy with the extra securities exchange commission.he commissioner took questions at this evenst

stop this, kobach says they will be transmitted and stored, an application for security exchange an files, they will upload it to the safe website and commissioniles from safe on to white house computers. now, get a load of this. our interpret producer clicked kobach's link in chrome and she got a warning message and the warning message is, your connection is not private. attackers may be trying to steal your information, for example, passwords, messages or credit card, good lord. malcolm! >> lodon't look at me. there was a presidential cyber security executive order earlier this year signed by a gentleman named donald trump. >> that says the u.s. government cannot transmit information not using secure methodologies that are to u.s. government standards and that that would be the policy for the united states government. is this an official commission or not? i mean, is it volunteers? because they don't seem to have any idea of what they are trying to do other than get that voter data information and you know i think the chinese would love it. >> but they want to get that voter data information. it's a juicy target for the chinese, the russians

security exchanging files. states will up load data to the safe website and commission staff will download the files from safe one computers. get a load of this. mour producer clicked coback's link for safe site in chrome and she got a warning message. and the warning message is your connection is not private. attackers may be trying to steal your information. for example, passwords, messages or credit cards. malcolm, don't look at me. >> you know -- there was a presidential cyber security executive order earlier this year signed by a gentleman named donald trump that says the u.s. government cannot transmit information not using secure methodologies that are to u.s. government standards. and that that would be the policy for the united states government. is this an official commission or not? i mean, is it volunteers? because they don't seem to have any idea of what they are trying to do other than get that voter data information. and you know, i think the chinese would love it. >> but i mean, they want to get that voter data information. it's a juicy target for the chinese, the russians. it could be anybody, t

culled the 10 k's of those 12 isps, each of which is required under law to report to securities and exchange commission any significant risk to the business going forward. each of them has suggested the title 2 regulations in fact represent a significant risk to their businesses. with the indulgence of the cherry wou chair, i would like to enter those in the record. >> without objection. >> additionally i have heard myself from smaller providers these rules impacted infrastructure. i held a round table a couple of weeks ago in maryland where antietam said they pulled that because of these rules. we want to test the provision which is why we opened a notice for proposed rule making so we can figure out what the facts are, again make the appropriate judgment. >> thank you for that. you know, i was -- kind of chuckled a little bit. "new york times" had an article in -- i think it was this weekend saying that infrastructure is fast becoming an afterthought. but we hear from our local and state elected, it is the number one infrastructure issue. they want to talk about broadband more than anything else. the