as chairman of the finance committee i worked with members both parties to achieve three goals. guaranteed funding he december 13. not add to the deaf santd keep the trust fund solvent moving forward. over the next two yeyes we put into the trust fund leaving a cushion. in total, $14 billion into the highway trust fund over ten years. this actually reduces the deficit by $10 billion over the ten-year budget window. where possible we focused on the nexus to transportation and energy and included an idea for republican senators to transfer the leaking underground storage fundses 3ds billion and $1 billion future trust funds. both rely on this and it made sense. the proposed budget for its preserve fund by putting it into the highway trust fund. the finance economy also paid for infrastructure programs communities rely on outside their highway trust fund. neighborly, secure real schools. payment lube taxes and the water conservation fund. this shorter bill is what we could afford. it buys time to discuss what americans want for the 21st century aened how to pay for it. significant r

after the attacks, the united states publicly declared that the fight against al qaeda financing was as critical as the fight against al qaeda itself. the charge of the united states intelligence and law enforcement communities was clear -- if we choke off the terrorists' money, we limit their ability to conduct mass casualty attacks. within months of the attacks, the department of defense, the fbi, the cia, and perhaps most importantly the department of treasury launched a swift and unprecedented crackdown on domestic and international terrorist financing. and i'm very pleased, in fact, some of the very people who are responsible for that are sitting on our expert panel today. since then, the treasury's office of terrorism and financial intelligence has played a critical intelligence and enforcement role against terrorist financing through its dual aims of safeguarding the united states financial system against illicit use and combatting rogue nations' terrorist facilitators, money launderers, drug kingpins, and other national security threats. the department of treasury and the inte

thank you. >>> wrapping up the house hearing on terrorist financing. they are going into recess subject to the call of the chair. so it appears they will not be back here today. the homeland security subcommittee on counter terrorism and intelligence this morning looking at efforts since 9/11 to cut off money to terrorist organizations. members going into this recess subject to call of the chair because the house has been conducting series of votes on amendments to the defense department appropriations bill. you can watch those votes going on right now in the house. watch them on c-span. right now a discussion on the debate over the house transportation bill from this morning's "washington journal." >> congressman from west virginia is here this morning. we will close out the day with us. you're here to talk to us about the transportation highway bill, as it's called, this ch is set to expire soon. deadline approaching. part of it over the fact that the keystone excel pipeline has been included in the measure. where do things stand right now? >> just as

adjustments also shows efficiencies in the overall costs of the financing. we're looking at 2.4 in the original that just grew 1.5 for total cost of finance of 3.58 million. is 3.5 8 million. now to what you briefly through the uses 4.8 2 million in project costs. the most notable project in use is in terms of sizing is 23.8 for the cruise terminal project. the project is underway. the event authority has transferred scope for the project to the poor with the value of 5.6 million. this project will be -- i will be pleased to say will be almost fully financed up to phase one but for a $5.7 million a preparation that we're waiting for from the city which they intend to appropriate in the new capital budget. the next scope of the project we're calling ac 34 infrastructure improvements. the notable project is the improvements to piers 30-32 and the engineering staff can go into more detail. the improvements will not only allow for the event to take place but will extend the useful life of a portion of that facility from 10 to 30 years. allowing for public assembl

have to rethink the way we are financing our economy. but it's certainly wrong just to spend money which we don't have. it's about the money that is there that we have to spend in an intelligent way. for instance, to pay for infrastructure projects that create jobs. >> in terms of this, you say breaking down the barriers to business which is what you're so into, that's going to take a long time. what do you do in the interim then? to really engineer more growth? because that is crucial. you would accept that. >> that is crucial because it's about creating jobs. therefore, we have to think how can we make the environment more interesting for industries, strength that can create jobs. we have a problem of job use, job unemployment in europe. what is necessary is continue on the path of stable public finances. that doesn't mean that there would be no debt but the debt level is currently too high. we have to steadize some of the european country. they have to make some tough choices and at the same time, give some perspective and that goes to

deputy director of the ministration and finance. i am going to go ahead and put the power point on >> the reason i'm here this afternoon is to give you all a high level summary of the port's budget projections so that you can guide financial decisions over the next five-year term. consistent with proposition a, which the voters approved on november 3, 2009, the city and county now prepares a five-year financial forecast on every of fiscal year. is it prepared its first plan last year. this is an even year, so the city is now preparing an updated financial forecast, but i wanted to bring you what it looks like with an update, given the changes we have had with the america's cup agreement, the recent c.o.p. decision, etc. i thought it would be helpful to see an update today. the plan we produced last year, as you may recall, had trends verisimilitude the city general fund overall with revenues growing at its lower rate than operating expenditures, unfortunately. 3% on the revenue side on average, 4% with operating expenditures. this re

the rich. it's easier to do it now, and that's finance, and that's the democracyizing finances. so i'll stop there. >> we have a ton out great questions from the audience so please feel free to submit more questions. you're listening to the commonwealth club of san francisco, and it's a thought-provoking read. i want to ask a couple questions and take questions on cards here. i couldn't tell in your book whether "occupy wall street" inspires you or scares you? >> actually i think "occupy wall street" is part of a bigger movement. it's really a continuation of arab spring, and it was found in madrid before "occupy wall street." it was after that, found in warsaw. a democratic movement and a discovery that people are rediscovering that protests can bring down governments and can make big changes. so, i'm inspired by that part of it. i think that they're bringing up the dissatisfaction with the inequality that is developing in our society. people have been saying, people don't really care. well, now we know they do care. and that they're wanting to make a change. but i guess my disq

mechanisms that will help them secure the -- secure financing and purchase those products? so that's the question. so does the united states want to do those kinds of activities. i say we should be even more aggressive at it. why? because the global development of many countries that are now buying u.s. products is going to continue to grow. i know that in my state, southwest washington and vancouver, say the second largest grain elevator in the entire world. the second largest grain elevator. and i said why do we have the second largest grain elevator in the entire world right here at the port of vancouver? they said to me because as the asian middle class rises they want to eat beef and if they want to eat beef, they have to have grain. what's wrong with the united states selling grain to asian markets because they want our product? or all these other products we've been talking about today. these are examples of products in the united states where we are actually building a product that many countries and many end customers want. we should celebrate that.

on the part of the financing team in germ and on the part of your staff in particular and would like to thank the staff for their hard work. >> i appreciate it. >> i will repeat what i have said earlier, we have had the revenue bonds issue before us presented in various ways and we have been to the board of supervisors and acknowledge that we are relativey unique in transit agencies that we have a revenue stream that we actually can offer our own bonds instead of having general revenue bonds from the city. how unique are we in the u.s.? are there other agencies and i'm sure we have gone over this before, but more for educational purposes to anybody who is new to this and hasn't been listening. >> we are probably one of the few who don't. they have sales tax and other streams of revenues. bart has issued. v.t.a. we are probably the last remaining system, new york all issue debt. >> what is you feek, we have a more diversified set of revenue streams. and in that way, we have a good story to tell because we are both a transit agency and city transportation department, which is unique in

or your led to believe the deal is done but later pulled the financingfell through and you need to pay for a more expensive loan. it is common enough that the ftc has discussed in a recent conference >> she says yo-yo financing is often aimed at people with little or parnis credit but it can be prevented >> you can wait and make the down payment and call back and see if a loan went through but don't take possession of the car until you know financing is in place >> or you can be preapproved before buying the car. derek refuse to put more money down so he returned the car and got this car from another dealership >> a happy ending and the payments are less than they were on the other car >> under california law and the dealer can provide proof that the loan was denied. you do need to return the car or sign a new deal. and number of consumer groups are asking the ftc to band yoyo financing and we will keep you updated on that. ♪ [ male announcer ] for our families... our neighbors... and our communities... america's beverage companies have created a wide ra

the next area is financing. that is a topic of mine i talk to and remains a significant break on economic progress. the number of small business loans from established lenders has improved, but we can still do more. i know the sba has been working very hard through karen's diligent leadership on making sure she can fill the gaps through other loans and institutions. so have companies like at&t. over the past two decades, at&t has provided $6 billion for municipalities. that allows companies like you to access badly-needed financing and that's been one of the key priorities from the first time ae attended three years ago and i heard that question time and time again. in 2011 at&t provided $240 million in badly-needed financing. so we continue to place a premium on providing this level of support for one reason. when you have the tools to succeed, we succeed especially in the market segment i'm responsible for. and access to funding is very closely-linked to the third area of focus, and that's access to technology.

sort of analogized it to the sup superpac of terrorist financing. you have these big chunks of money coming in all at once. >> interesting. let's talk about iran where treasury, treasury's financial pressure campaign has become a central component of the engagement with iran the central hope for the change of behavior on the ukrainirai iranian evidee economy has been hurt, which started in '05, '06 and has strengthened over time. can can you talk to us about and the first instance, where you see the financial pressure takinging us and i think the fundamental question being whether or not financial pressure at the time you've helped fashion will change iranian behavior at

s lormel established and directed the fbi terrorist financing initiative which evolved into the terroristfinancing operations section within the counterterrorism division. since leaving law enforcement he is provided risk advisory consulting services and is served as an adviser advisor to the congressional anti-terrorism -- terrorist financing task force. and the honorable sue eckert is a senior fellow at the thomas j. watson institute at brown university where her research is concentrated on making united nations sanctions more effective through targeting and combating the financing of terrorism. prior to joining brown university, ms. eckard was employed at the institute of international economics and from 1993 until 1997, ms. eckert was appointed by president clinton and confirmed by the senate as the assistant secretary of commerce or expert administration. repeatedly, she served on the professional staff of the house of representatives committee on foreign affairs and in addition she has worked with business groups and served on numerous working groups and committees addressing securi

he's the national finance co-chair of the mitt romney campaign. he's an official in the mitt romney campaign. whether he likes it or not, that makes him a public figure. that means his record is up for public discussion. since he's chosen to involve himself in such political causes over the years. frank van der sloot's role in this year's presidential campaign is he will be the star of the new fox news scandal about barack obama. five segments and counting so far on fox news about how president obama is a terrorist and the target of his terrorism is frank van der sloot. there's been five segments so far. he's appeared in three of them. a private citizen who has nothing at all to do with politics other than being the finance co-chair of the mitt romney campaign. now fox news has their brand new barack obama scandal. >> some believe this is economic terrorism, not economic, political terrorism. targeting a businessman like you running an honest business because of your freedom to donate who you want to donate to but try to ruin you personally and pr

i am the undersecretary for terrorism and financial intelligence, although our unit is elicit finance generally, the office is named, office of terrorism and financial intelligence for a reason which is that when it was created in 2004, you know, the principle focus was going after terrorist financing. and so we have been doing that, you know, quite aggressively and relentlessly for, you know, frankly it goes before the creation of the office but certainly since the office was created. as you note, al qaeda today, al qaeda core, the al qaeda that is holed up in pakistan, is in a much weaker state than it was, certainly, in, you know, from 2001 through 2008, 2009. in part, that has to do with actions that are taken by others. but in part, it's due to the affective use of our sanctions authority that has led to a substantial decrease in the financial support for al qaeda. when we designate individuals who are supporters of al qaeda, who are financial facilitators, who are raising money, moving money for al qaeda, that has the effect of making it much more difficult for those individuals

we killed the -- the finance goose was killed the last few years with dodd-frank, so the only one left at this point is the computer one. i think unnecessary excess of regulation of computers is extraordinarily dangerous because it is the only thing left. everything else has been killed off. >> can i make a comment? i think peter is wrong about one thing and i will try to explain why it doesn't challenge but strengthens the thesis. environmental regulation is to some extent different from all the others because you're concerned with things that when done were private law nus an actionable in 1200. i could say whatever you want to think about the house levels of innovation in 1950, smog in san marino was not one of the things you praised. the big problem with the environmental protection act and the clean air act was not that it chose to regulate, but you have to go down a level and figure out what the proper scheme of regulation is and you can't answer that question by saying i am pro or against. let me tell you one of the huge blunders they all made which was they thought that they wo

he is the head of the finance commit fee for the republicans. their job is to serve the banks. at least he is honest about it. he also said you know what this loss -- i believe they are one of the most profitable financial institutions in the country, and unless the facts with different franchise from what we have heard there is no risk to depositors or taxpayers, they remain a very profitable viable institution. don't worry everybody, the republicans and the democrats agree, jpmorgan rocks! especially when they are gambling with your money. do you know that? the depositors, that's the money they take and gamble with. they lost $2 billion, and then it turns out it might be $7 billion maybe even more. but don't worry the tax players will safe us. but the republicans and democrats agree, this system is awesome. don't worry about a thing. when you hear bipartisanship you hear the rest of the media praising it. when i hear it i think oh, no, watch out for your wallet. they are coming for it. and when we come back we are always told our system is num

over a two- or three- year period would be a huge financing at that time in the marketplace. t would be a huge financing today in the marketplace. those numbers gets wall street's attention. >> narrator: one banker who called was charles lecroy. >> he was the leading producer at j.p. morgan, and supposedly, street talk is he was the largest profit center that j.p. morgan had for several years running. so he was hustling this product not just in jefferson county, but all over the country. >> narrator: one of the products lecroy was pitching to jefferson county was an interest rate swap similar to the one cassino had entered into. >> he says, "have i got a deal for you. we've got this new product, it's called a sp. and we know how to work this swap program to help write off, where you don't have to raise rates on your citizens." >> he said, with the refinancing, it would hold the sewer rate increases to single digits, and it would also, over the long run, save the county $300-$400 million. >> narrator: in late 2002, a former local tv reporter turned policianamed larryangfd took

withh supervisor chu: welcome back to the budget and finance the full committee meeting. we're just coming back from recess. we want to pick up where we left off, talking about the department of environment lease component. there was an outstanding question around the improvement component that would be amortized through rent for that facilities. we have worked through the department of environment a potential option to consider. perhaps i connects the director of real estate or department of environment to speak to that. >> thank you. what you have before you is a revised resolution asking for the budget and finance committee to approve the proposed lease with one of adjustment. the prior resolution was asking for the budget and finance committee to authorize department of the environment to receive a loan up to $10 per square foot for tenant improvements. we have struck that from this resolution. we are proposing to move ford with the lease and the dollar's the property manager is offering today. we would like to come back with construction plans, exact costs, and a rep

>> the finance minister is one of those saying the eurozone is stronger than it was two years ago. you can clearly see that european officials have introduced mechanisms like the fiscal compact, which are on mechanisms trying to get more transparency and the euro system to work and a better way to prevent such crises from happening. and of course, everybody here is sending a message that greece is an isolated case. spain has problems, but not the same infrastructure problems. reforms are under way. they are promising. greece is in an isolated position. people are sending out the message "we could do without you." >> thank you very much, from brussels. >> the u.n. has imposed new sanctions on syria and has warned there will be new action if the government fails to adhere to the cease-fire. videos posted on the internet show a heavy shelling in several cities including homs. despite the presence of united nations observers to broker the cease-fire. >> the iaea will be meeting with iran on tuesday. they will press for access to facilities built for high explosives tests. there is conc

take a look at the infrastructure finance district, the infrastructure finance plan, public use financing, i think the city is getting hosed. you really need to have someone who knows a finance take a look at this. president chiu: next speaker, please. >> good evening. i'm barbara stewart. in the eir, the planning department acknowledged the sea level rise poses significant danger to be 8 washington street site. it is unavoidable and then dropped the entire issue. it did not -- it not only ignored findings of the scientific panel, but also two major studies in the san francisco bay. now we have new research findings that cannot be ignored. a study reported in "the new york times on march 13 conducted by climate central calculated there is a high degree of probability that as early as 2013, san francisco bay will rise -- 2030, san francisco bay will rise 10 feet. almost there are major changes in climate -- unless there are major changes in climate, the water levels will continue to rise and flood. i would like to take a moment to introduce my friend and spouse to give you some information

so, basically, 60% of the inventory, the majority of it, we had to finance ourselves. , as we grew the business from 1,500 cases to 4,000 cases, and we moved up to 10,000 cases, there was a lot of inventory to support and having to finance. - and even the receivables are generally not financed at 100% either. - no, they're financed depending on what they are--75 to 90%; export receivables, less. so, you know, that part is--the majority is financed, but the inventory was... it's always the minority in our case because it's really liquid; it's not even finished goods. - and you had to get it into the stores; that's another challenge. no matter how good you are, others are using up that shelf space, so were you nervous? you went cold-calling, door-knocking? how did that unfold? - well, in the beginning we had a store on site, so we were selling on site. that was, you know, small scale, and we were selling to local restaurants. the first production we had, we loaded up the back of the car and went out knocking on doors and introducing the product to restaurateurs. - it's li

this would double that and provide the low-cost short-term financing. what you previously authorized was average borrowing cost of 1.5 percent signed, half of what inflation has been. very low costs and good for the ratepayers. the increase will assist us with already existing appropriations. i mentioned the $271 million to told us to implement. the current borrowing rate we think would hover around 1%. the long-term capital needs you previously adopted a capital plan including our department, and that shows $5 billion worth of need over the next 10 years. we would be able to use this program to the degree we make a multi-year program to assist us in future years as well if it is the best deal for the ratepayers. on average we have $500 million annually with the need over the next 10 years, the large and a portion of which would be the upgrade that the waste water digesters and the waste water system for the source system. this could benefit both existing appropriations and future appropriation at what we believe is the low was costs to ratepayers. >> ju

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the first defense witness laura haggard ran the finance campaign in 2008. she testified the secret money still has not been reported because even after he was charged, auditors said it didn't need to be, as for whether edwards will testify, legal expert dan abrams said there's no upside. >> i don't think there's a chance he will take the stand. i think it is too rest -- risky to put him on the stand. >> reporter: part of the strategy will be to discredit the star wetness. andrew young admitted to heeding the affair. another question is whether andrew's -- edwards' daughter might take the stand and testifying on her father's behalf could help humanize him for the jury. >>> next woke a public hearing on that secret service prostitution scandal. it will take's on may 23rd. the secret service director will testify. the incident involving agents happened about a month ago in advance of the president's trip to the summit of americas and involved roughly 20 alleged prostitutes. so far nine secret service members have been let go. >> details on a wildfire that has g

it's gotten better, but we have tried to support the availability of financing by the financing of some of our products and services. and third, is technology. to drive future growth. we're supporting initiatives that attract and provide financing and encouraging the use of powerful technologies and applications that help make companies like yours faster and more productive. i hope while you're here you'll stop at the at&t booth and talk to some of our great sales representatives. but take some of our brochures and see what technology can do for your business. in terms of supplier diversity,

if we're successful, we will be able to replenish the projects we are taking from to finance this deal. then, there is the shore power project, which i know you are extraordinarily familiar with, so i will not go over that in much detail. as you know, there is a supplemental appropriation included, which allocates the proceeds, but it also reallocate its 2010 for revenue debt -- port revenue debt. our strategy was to utilize revenue we had available before issuing new tax-exempt debt and also to be fun feedback lands project. we are funding all demolition and dredging with capital sources, operating sources rather than debt financing those improvements because they do not have a long life, and financing the remainder with c.o.p.'s. in terms of our ability to repay, we have strong ability to repay this obligation. our bonding capacity at the moment is $74 million. it would utilize 34.6 million of that. in 2014, we will be coming back to you with another issuance. the $29.5 million -- they will be working with you to identify revenue-enhancing projects that we feel would build our bindin

prep, the ben time center for finance at princeton and the nature conservancy. so there is no requirement that the president nominate governors from the other party but we have in keeping with the work of senator alexander and senator johanns and others, this is a bipartisan nomination. mr. powell is a republican, and he served as undersecretary for the treasury for finance under president george h.w. bush with responsibility for policy on financial institutions, the treasury, and debt. so we have one member who served in the obama administration, one nominee who served in the bush administration. it's very good that we have come to an agreement here and we hope it can set the tone for agreement well on into the future. this year and in 2013 as well. with that, mr. president, i yield the floor. >> senator chuck schumer, democrat of new york, and this statement from white house press secretary jay carney. we are pleased that members of congress from both parties have come together to confirm jay powell and jeremy stein as members of the board of governors of the

i strongly support the hard work done in the finance side that buys us time. it is not the long-term solution for how we are going to finance long-term rebuilding of the country, but it gives us two construction cycles, some certainty that we can work on a larger issues. i support the transit parity that has been championed by senator chuck schirmer -- chuck schumer, which insures all competing modes are treated the same, and that provisions related to bonds for private activity bonds and exempt for water project bonds are important to the partnerships that depend on constructing infrastructure. i support their inclusion. this conference gives us the opportunity for two years of stable transportation investments, ranging from areas of secure, rural schools, to access investment from the harbor maintenance fund. on balance, our friends in the senate have given us a solid, bipartisan framework. i can tell you, having served people in the house, there is bipartisan interest and i hope to build on it moving forward. thank you, and i yield back. >> thank you, congre

hearing similar things from charles de lehrer who's from the institute of international finance he says that it's certainly not inevitable that greece will be leaving and says that he hopes that compromise can be found however on the other side of the argument. people who don't believe that it would be such a problem if greece left the the eurozone or people like the italian industry minister who says that it really things could just continue as normal without greece should they pull out or should they be removed from the eurozone and revert back to the drachma now all of this is going to continue to be discussed over the coming weeks and there is a large meeting taking place on the thirty first of may in around two week's time of e.u. finance ministers of course not in that caretaker government in charge in athens at the moment they were. he can't do too much they can't do anything at all really when it comes to making decisions it's all leading up to those elections that are going to take place on the seventeenth of june but the e.u. finance minister meeting could prove critical to de