would the finance chair yield to a question? mr. hatch: my time is just about gone but go ahead. mr. brown: i'd ask if the four bills we passed in committee -- the africa growth opportunities and trade customs bill passed out with strong majorities. we hoped that the time they would come together -- mr. hatch: i understand the question. they passed out with an understanding between the vice chairman of the committee and myself that we would vote on them separately but would move t.p.a. and t.a.a. which most republicans hate, we would move together and move the third one and move the fourth one. it would supposed to be done that way because everybody knew that putting the amendment the amendment on the one bill would not be acceptable in the house. and would not be acceptable to the president. that's the problem here. and we all know, we're prepared to have a vote on that bill but the agreement was we'd vote individually all four bills and finally we today agreed to to t.p.a. and t.a.a. because your side was concerned about whether this side would allow t.a.a. to go through. there

it is the very mandate according to edward, a multi-finance minister. once you get over the mandate you could potentially see a path forward. in more and more european capitals that is why you are hearing talk of a referendum. a referendum on whether or not greece wants to stay in the eurozone. that could be one way out. that's if you think the mandate he has from his people is the problem. there are other issues as well we heard from the vice chancellor and the german government right now. and mr. gabrielle said in an interview sunday that he sees most of the risk for a greek exit being political and not economical and anytime politicians in germany are talking about not having economic consequences, that is a troubling sign. jon: is that the line out of berlin right now? another crucial week for greece and it is us sitting here saying ok fine? you have a mandate for your people this is where we stand if you don't want to do that go back to the people and get it done. hans: that is why this idea of the mandate is the problem. referendum could be a solut

the ranking democrat on the senate finance committee. is working with orrin hatch to try to scramble enough votes just to get on the bill. it's a huge surprise that the can't even get possibly on the bill. it doesn't -- was after the lunch today whether not there will be enough democrats. republicans are charging that democrats are can't change the rules in the past few weeks asked for a little more than what republicans can handle. there's four bills in one package that democrats are trying to push right now. orrin hatch, senator mcconnell andalucia pushed a sporty with only two of the bills and then later saying they will pick up the other two bills later. some of the people accuse you guys -- some of these markets may in the end vote for a tpa deal, senator cardin, senator feinstein, senator cardin's who are right now playing hardball in saying they want to have four bills in one right now which is a step too far for me republicans. >> host: who are the other players and maybe we should be looking out for in terms of how the votes are

the bills were put out by a large vote in the finance committee. the majority leader decided he would consider two of those on this own and the others would have to figure out another way to get done. as the public leader said this morning in his opening statement we will strike the amendment process. it is very logical i just said. it is ill logical what he is saying. why only two of reports from the finance committee? why only those two? it doesn't make sense. the republican leader is very, very aware of motions perceived during the last four years because of the republicans cynical approach to government. they basically defeated everything we tried to give with regard to legislation. however, they are saying they are willing to work with legislation. we don't want to stop the vote on this bill. we think the bill should be what was reported from the finance committee. that seems a fair thing to do. we want to set a realistic pass for us in this legislation. if we are stuck here it is too bad. we should not be. i say to my friends i am always avail

we don't even know if the senate will vote as a package on all four bills when we consider the finance committee or just vote on fast-track or some combination of the four. if we vote on fast-track alone we'd be giving new rights to corporations while turning our back on treaty cal trade enforcement -- on critical trade enforcement measures. imagine if just t.p.a., fast track gets to the president's desk. while have done nothing on enforcement and we will have left out hope for workers who have lost their jobs because of what this institution did. fast tracking fast-track will prevent us from having serious debates on issues from public health to the auto industry to international monetary policy. during the finance committee's consideration of this bill, i filed 88 amendments to the package of four bills 81 of those to fast track alone. i offered a number during markup. i'll offer more on the floor. i know senator menendez had a very important amendment and he will be speaking in a moment, in the finance committee that was adopted. i know other colleagues have amendments that will be

and welcome to the san francisco board of supervisors, budget and finance subcommittee meeting for wednesday, april 29th, 2015, my name is mark farrell and i will be chairing this committee and i am joined by supervisor, tang and i want to thank the members of sfgtv for covering this meeting, and the clerk, madam clerk do we have announcements. >> silence all cell phones and electronic devices and completed speaker cards and documents to be included as part of the file should be submitted to the clerk, items acted upon today will be on the may, 6th board unless otherwise stated. >> could you call item one? >> ordinance amending the health code to increase patient rates charged from concern mental health services delivered from july 2014, through june of 2016. >> and supervisor tang i would like to entertain a motion to continue this to may the 20th to have is a discussion at that point, but first we will open this up to public comment, anybody want to comment on item one? >> seeing none, public comment is closed. >> all right. i will make that motion to continue to may sorry, 20th. >> okay,

. >> next, a house hearing on how the terror group isis is financed. then the commerce secretary at the internet and tv expo. after that, a discussion on the method of oil extraction called hydraulic fracturing. now, gerald roberts with the fbi counterterrorism division discusses how isis makes money itself and what the fbi and other agencies are doing to disrupt their finances. posted by the washington institute for near east policy, this is one hour 15 minutes. [inaudible conversations] >> good afternoon. welcome to the washington policy i am the director of the program on counterterrorism and intelligence and i am very, very pleased to have you here. some of you in person with of life's dream you are all will come for us to talk on the money flow of physis to follow the of many with ahead of the terror of finance operations end section and later deployed to iraq as a liaison officer with a tremendous amount of expertise and inside. with a counterterrorism lecture series that you can still catch on line involved in defense with the assistant director.

it's not just about the terrorism financing. in our last meeting at the federal reserve, it was not just about terrorism financing. we brought it experts from our counterintelligence division from our criminal division, from our cyber division to better inform the banks and hopefully through that, we can play a little piece of making all the banks that much better when it comes to compliance and when it comes to our alertness. with regards to the examples that you gave, a lot of that is not just terrorism. there is a lot of criminal activity that flows through banks and sometimes the banks need to be better at what they do but often it comes as a result of us pointing things out to them. mr. roberts: if i could just follow-up, because there are a lot of instant best -- a lot of investigations into banks around the world including russian banks. when you talk to the federal reserve and others, what is your advice about improving bank filters. in other words, one of the things that we try and do is to try and help the private secto

as i mentioned the vote in the finance committee in favor of t.p.a. was 20-6. i hope that we'll be able to get a similar bipartisan result here on the floor. i think we can. to conclude, i just want to make it clear that i'm not naive. i'm well aware that not everyone agrees with me on these issues. there are some, including a few of our colleagues here in the senate who oppose what we're trying to do with this legislation. they oppose t.p.a. and virtually all free trade agreements. in essence though, they'll usually deny it; they oppose trade in general. of course i respect the views of my colleagues on these matters as well as any other on which we happen to disagree but let's be clear about a few things. when you oppose t.p.a. and trade agreements you stand against the creation of new higher-paying jobs for american workers. you stand against american farmers, ranchers, manufacturers, entrepreneurs and the workers they employ who need access to foreign markets. and you stand against the advancement of american values and interests on the world stage. i have m

strategy to counter isil is disrupting the finances. it is focused on restricting the access to international financial systems, and targeting isil leaders and facilitators with sanctions. on the military front, operation inherent resolve has conducted air strikes against the oil infrastructure and supply networks in syria and iraq. as of may 8th, 152 targets have been damaged or destroyed according to u.s. central command. this past weekend, u.s. special forces conducted a daring raid in syria against abu sayyaf. and it shows how valuable the financial intelligence connected could be to attack its networks. to counter the illicit networks we need to leverage the international power and i have proposed the five following measures. number one, increase resources to government agencies to investigate, prosecute and prosecute terrorism, crime and corruption. number two, retain the afghan threat finance cell and establish new ones to target emerging threats like isil. number three, revitalize the inner agency working group to coordinate all

there is a blockbuster report added the senate finance committee. 'm not sure what exactly happened with that. but how do you address the fact. i am just assuming those types of institutions, wall street european banking institutions are partnering with you. how do you address in their my view very poor track record. >> obviously with regard to our role we don't necessarily have a role with regards to their compliance for their lack of compliance in a couple of the examples you mentioned there. primarily our points of contact within the institutions as i mentioned the financial intelligence unit and sometimes the compliance of the organizations don't have it yet. it is really from my dad is really the way to better inform them so they can prove. we realize not everyone is at the same playing level when we talk about financial and cetaceans. some are buried dance. some are very proactive. some are doing their own targeting in their own analysis with regard to terrorism finance team and foreign fighters and are way ahead of the game. the partnership by

the finance committee passed this enforcement measure with a blank vote. ht to indicate alone that this was not some topic of enormous controversy. we had votes on the trade promotion act votes on the trade adjustment act. pretty vigorous debate. voice vote on the enforcement provision, customs package because it includes so much of what i think members on both sides of the trade debate feel strongly about. i talked about why i feel so strongly about enforcement. my colleague speaks eloquently about another.of view. he feels strongly. i am pleased that the senate is on this bill, beginning debate on this legislation thoroughly committed to getting this legislation passed before we leave for recess. no one can ever make guarantees, but i will pull out all of the stops to do it and i want as we close the opening of this debate to thank both the majority and minority leader for working with myself and chairman hatch and others to get to this. we had a bipartisan effort and the finance committee and are pleased to see the distinguished president of the senate j

but we think the bill is what put out of the finance committee. that is the fair thing to do. so we just ask for a pass for a realistic path. if we are stuck here it is too bad. i'm always available to speak with him. to figure a way forward on this legislation. over the last week as saying all that came out should have the robust demand reprocess on those bills. >> mr. president. obviously the most sensitive political issue surrounding this is the currency issue and to make sure woody has a clear understanding of where we are. by explicitly did not offer that amendment to the tpa bill. we were told that it would not be a part and if it were we knew it would kill it. ; not to use currency to kill the tpa bill but to get currency past that is why reoffered it to the customer is billed that nobody disputed community blood dash committee to get a vote separately on the floor then it comes to the floor like the other bills so currency is the committee dealing on the customs bill and not tpa. but we need to be clear the currency issue to deal with currency on the customer's bill. s

now, the finance committee didn't just mark up t.p.a. and t.a.a. it also marked up the african growth and opportunity act and passed a generalized system of preferences bill by voice vote. it reported a customs and enforcement bill by voice vote, too. so while t.p.a. is clearly the centerpiece of the trade agenda before us, there is also bipartisan support for other bills reported by the finance committee. i know we've heard some concern that these bills might get left behind. i don't think that was anybody's intent. i expect to have a robust amendment process that will allow trade-related amendments to be offered and considered, including on the subject matters that the committee dealt with. the underlying substitute will be a compromise between the two parties marrying t.a.a. and t.p.a. but let me repeat so there's no misunderstanding, the measure before us will be open for amendment and i expect that other trade policies considered by the committee and possibly even more will be debated on the floor. i also expect that chairman hatch and senator

he has been replaced by the finance minister. hat the government knows that they can rely on. >> european finance ministers are meeting in brussels to discuss greece's worsening troubles as money runs out and bankruptcy looms. greece wants europe to back it's reform plans and free up cash ahead of tuesday's deadline to make a huge payment to the international monetary fund. but they have refused to cut spending, including pension funds. the greek finance minister told reporters outside of the meeting that he's confident of a deal within a few days. >>> greece has to give the imf $340 million on tuesday $3,840,000,000 a repayment that $8 billion, an amount that many believe it cannot make. it's unclear how long greece can go in its bail out. what are the prospects of the deal? >> lauren, as you touched on there, there is no conclusive deal by the end of talks in bus else. both sides are keenly aware that crunch time is getting ever closer for greece. the greeks accuse the euro group of dragging their heels in all of this. the euro

the finance minister says they prefer faulting on imf's -- on imf rather than pensions. t is coming and there is a big meeting in the eu. what is the expectation? will there be a deal with one hand saying there is optimism and they're a fog is saying i would rather -- and them saying i would rather default to the imf? this could force hands because the banking system is on the verge of collapse. cash is running short. the political convergence -- it is all coming to a head, if you will. a few key dates in the future, greece is not out of the was. they face key payment deadlines -- out of the woods. they face key payment deadlines. the next imf payment is june 5, 1.6 billion euros. then, big payments to the ecb in mid-july. in august, 3.5 billion euros alone on july 20. that is just a fraction of the bills that it owes. angie: thank you. asia's best performer in the first quarter, but in this current one it has gone from first to worst. economic headwinds are strengthening. david has been mounting problems. david: a lot of problems in the short-term, long-term, and the med

hans, with the latest from the german finance minister? hans: we heard from them over the weekend, he laid the problem squarely at the feet of the greeks. he said it was up to them to compromise. when you look at the statements they have been saying the same things in separate 20th, from the german side greece must implement the program may have a plan -- agree to. from the greek side, they simply won't do more austerity. if you think there is austerity in the program, by my reading there is, eventually they will come to head and the conflict will be out in the open and they will have a public rupture. francine: what do you make of the spanish elections? we're hearing from the prime minister today plot -- trying to explain his parties election results. is it mayhem? hans: spain and greece are different. syriza has a thin majority in greece, 12 feet majority and 300 seat parliament. in spain, you sell the popular ruling party go down to 27%. these were local elections. if these trends hold, at least in spain, the two-party system could be in

requires the governing body of the jurisdiction in which the project is located to approve it and the financing and the project, and after previeding of this public hearing and in this case, the jurisdiction itself is not obligated for the payment of the bond. >> and on march 20th, a public hearing was held in the office of public finance on april third and no comment from any member of the public through the public hearing process as mentioned not-to-exceed amount of $25 million. and briefly the urban school, of san francisco, is an independent high school founded in 1966 with an enrollment of 380 students, 75 percent of whoem reside in san francisco. and the purpose of the debt is four fold and the school seeks to get a prepaid loan by first pub bank of an amount of 8 million, 26,000 to finance and refinance the obligations in 2004 by the finance authority which were used to finance the acquisition and equipment and furnishing of the education alpha celebrities known as the page street property, which are owned or leased by the school by the educational purposes as well as to pay for the cost

the finance minister says, we have done our part. ficit reductions and you look at the ddp, the charts are telling. two points. first, it is not true that they are not going to reform. second, the deal we did -- the reason why we do not have a deal , the major sticking point is creditors insistence on austerity at the expense of reform agenda. the second point, how they are committed. just not to this. that said, when you look at this, it is subtle yet steadfast. they are looking at a target of more than 2% of gdp in 2016 as ours the fiscal surplus. it is not sustainable. we will not accept a cure that is worse than what caused it in the first place. that said, this agreement, a bunch of targets, sales tax rates and the labor market. it is a very nice op-ed. rishaad: we get all these deadlines. they are colliding with each other. that overrules deadlines lasting for the next nine years for the imf. david: over the next six weeks, it is critical. euros, 350 million million euros on june 12, and june 19, -- it is reserved currency. rish

president of the senate join us on the finance committee. we had a bipartisan package as the distinguished president notes, in the finance committee which passed really overwhelmingly on a bipartisan basis. now, starting this debate and with what's ahead of us, we have a chance to build on the bipartisan work that took place in the finance committee. it's very appropriate that we begin this discussion focusing on trade enforcement as the 14 -- 13 -- 14 pro-trade democrats did yesterday in making an announcement with respect to the importance of this topic. this is going to be a good debate. the stakes are enormously high. mr. president i look forward to working with my colleagues on both sides of the aisle to get this legislation passed, to get a bill that the president of the united states will sign. and with that, mr. president i yield the floor. >> mr. president? >> senator from oklahoma. >> mr. president i have a concern. it's not about trade. quite frankly, trade is one of the things we've done as a nation all along. we were free traders

we will be joined by the finance secretary. that is next on "trending business." ♪ anchor: the stories making headlines around the world. iraq says its forces are on islamic state forces. the city of ramadi fell after soldiers abandoned their positions. washington has tried to soften their criticism. vice president biden went there army's efforts. power and water supplies were disrupted and people living near a reservoir in china were evacuated due to high water levels. heavy rain across southern china over the past week has left at least 35 people dead. people living near an overflowing dam in texas have been moved from their homes as a precaution. asy are hopeful it will hold water levels rise after record rainfalls. president obama has promised assistance for texas after a state of disaster was declared. 11 people are missing. competition is heating up amongst india's online retailers. big names like amazon established in the country. shop clues is a latecomer. down with the ceo to ask about what makes his company different.

mark gilbert: still struggling to get the finance and they need. stiglitz: that has to do with the failure of europe, the structure is that they have not yet created a banking unit even though they crated a single markets. it means money is flowing out of italy spain, all of the countries where there are difficulties and that means the banks can not provide for snd lending and not made up by germany. francine: a point mark alluded to if you are the u.k. and bank of england, do you wait for the fed to move first? joseph stiglitz: you want to keep your interest rates low. with no signs of inflation, how can you defend raising interest rates? you are worried about an overheated economy, now is not exactly the time to worry about than overfeeding -- overheated economy. racine bank mark gilbert -- francine: mark gilbert and joseph stiglitz thank you. after the break, we will be joined by a ceo. ♪ >> it would change our relationship with the europe. in britain, at the time 50% of the exports and trade and that's was then. tremendous resilience for the bu

the need of financing for these projects is on the order of $15 billion.means there will be massive investment in infrastructure in colombia helping us offset some of the declines in oil prices. that will continue and keep the economy growing at a healthy rate. betty: let's get to the peace talks going on right now. in cuba, i believe. if in fact the government is able to put together a peace plan with the rebels, kind of an impact will that have on the economy but also on consumer confidence in colombia question verycardenas: that's important -- think of colombia as an economy that can grow at a rate between 4.5%-5% per year. that is our track record in the last decade. with the infrastructure program, one percentage point. that is the economic dividend of these programs. are inthat piece, we peace negotiations now in have , the largestc guerrilla group. -- this is estimated the longest conflict and latin american history, 50 years. it is at least one percentage point. it was supported by evidence. people have studied this. think of colombia as a country

welcome to the finance committee of the san francisco transportation authority. i am john avalos joined by david campos maliha cohen and we will be joined by other colleagues. mr. clerk. do we have any announcements? >> there are no announcements. let's go on to our next item. roll taken. >> we have quorum. >> next item is part of our consent calendar. items two to three comprise the consent calendar. staff is not going to present. >> colleagues changes to the amendments. comments on item 3 of the consent calendar. we will go to public comment. any member that would like to speak come forward. we will close public comment. may we have a motion to approve. >> move to approve. >> seconded by commissioner cohen. >> we need a roll call vote for the first one. okay. on the consent calendar. commissioner avalos. aye. >> kim, abcent. maher, absent. >> four, state and federal legislative update. this is an action item. >> good morning, chair and members, mark wats representing sacramento. two items of interest. on the matrix we added constitutional amendment number 5 and

so with the counterterrorism of finance do you see this as a potential issue? >> here we speak specifically about isil but as a gentleman asks one of the many threats obviously we track all state-sponsored terrorism as well and the financial aspects and the role is critical to zaph as wall but that just because it appears to be the greatest threat at this moment that we can take our eye off the ball. >> as the fbi agent responsible for terror finance investigations it is much more unlikely to see the terrorist groups to move the state's a broad there happens but it is less likely. >> so what a pressure to put on the country's. >> into snuggle up to the airport or the organization. one was arrested last time and now to people are supporting isis and to sponsor the terror throughout the country is. >> with regards to the example that you gave with one player at the table if it is thus spared during as mentioned with the state department june treasury than to to discuss it at the moment we could research to get back to but if a fbi or dear other law-enforcement age

i worked on the dark side you side, you after their finances. e have to have a hybrid approach, but on terrorism we must draw the line. >> is it your understanding that those sanctions things that are targeted toward -- the criminal activity those should remain where they should not it should not be part of the -- >> the record stands. >> right. >> the chair now recognizes the vice chairman. >> thank you. the effectiveness of our enter into communication and coordination as it relates to stopping the financing of terrorism, specifically u.s. customs and their full access of data would limit access. do you believe that we should be looking more seriously and better coordination particularly as it relates to trade -based financing. should we be looking and targeting this type of cooperation? >> is awesome organization. everyone everyone deserves to take a look. they do not get nearly enough credit. they try to stop more terrorism than any other organization. they are good they are good at receiving data. their ability to take data and use it would

pimm: i wonder if the finance minister clear that with angela merkel? eaves a lot of uncertainty for all those negotiators. betty: it signals there is this entertainment of greece leaving. pimm: going over the cliff. betty: in greece, they have to pay their people. do they pay event with this new currency. what is the value of it? .imm: you have domestic costs they have to pay people inside of greece, but none of this money is earmarked for greece. all of this money they are talking and bargaining about will be shipped back. to the people that let them the money in one form or money -- who led them the money in one form or another. a spin cycle. betty: can you imagine that if they were going to implement something like this. what that means for that outside financing. for those holding greek debt. trying to roll over that debt. not if you have a parallel currency the greeks are promoting. pimm: folks arguing can eventually agreed that either both of them all wrong or right, now they decide what will we do. stay together or have a divorce? betty: open up

the story. first, finance ministers and central bankers from the g7 nations met in dressed in today for the annualinance summit. discussions on the economic growth and sustainability are on the agenda, but greece is turning out to be the talking point. hans nichols is addressed and with more great this g7 meeting seems to be shaping up as a blame game. hans: there is going to be blame is there is no deal -- if there is no deal. they are quite far apart from a deal. yesterday there was a flood in the market when news of a draft proposal was close. the eu shot that down and the french finance minister said it was incumbent upon the greeks to put things in writing. late last night we heard from him saying he was surprised to hear about a potential deal. he said negotiations have not gone very far. yesterday i spoke with the kind -- canadian finance minister and he said -- talked about the different perspectives on austerity. >> there is definitely a different perspective. i don't think -- we don't want to exit -- exaggerated too much but there are definitely different perspectives and different philo

the u.s. strategies is to disrupt finances. it is focused on the destruction of revenue streams and financial systems and targeting the leaders and fascilitators with sanctions. on the military front, operations include airstrikes in syria and iraq. and as of may 8th. 1 52 tarring vets been damaged or destroyed according to the u.s. central command. u.s. special forces conducted a daring raid against the senior leader in the chief financial officer of ice ill. that illustrates the growing importance of the isis finances and how valuable intelligence collected in the target site could be to attack the networks. to counter we will further leverage that international power and i propose a five following measures. number one, increase the resources to the government agencies to having and prosecute terrorism, crime and corruption. and number two, retain the afghan threat financial cell and establish new ones to target and remove threats like isis. number three, four nate all entities across agencies. number dedicate a percentage of

you have all heard concerns about greece and the finance of -- the finance sector.people will say, no liquidity here. 80% of greece's that is in the sector, but this one is a way of gauging sentiment on greece. yields are surging 360 basis points to 24.53%. it tells you a lot about greece's access to market. there is not any. back to you. watching a lot of deals and potential deals potential deals happening today in a first of all, yet another one in the pharmaceutical business. not a publicly traded company. the deal is valued at $8.05 billion. we are seeing those shares on the move downward as a result of that acquisition. in addition to that, there is speculation about a pickup in talks over to those parties that had previously been in talks. the new york posted reporting the two parties have resumed talks. and offer originally rejected, 54 dollars per share from intel last month according to people familiar with negotiations. after thet going up talks broke off, which seemed to signal optimism they would resume. it looks like perhaps they have. and then the deal

that is where the finance ministers meet to discuss whether has greece has complied with the 240 millionut. they must likely will say no again. greece really expects a positive statement of some sort. a statement from eurozone finance ministers ring that we are getting there. a really need this. if they don't get it, this may prompt the european center to raise the pressure even more for greece as early as this wednesday. governors from the currency bureau may decide to raise the discount that they have applied to the collateral that greek banks pledged in the exchange for emergency funding. let me remind you that greek banks are generated. they are bleeding deposits. their only lifeline is his emergency capital. if the ecb raises the capital to the collateral this means the days of the emergency lifeline will be numbered and the company will be push towards capital control. stephanie: what is the greece finance minister referring to when he says they are making process and they are getting there? nikos: greece has repeatedly expressed confidence that they are getting their only to be he

a spokesperson said she will participate from time to time in the future. financenisters and central bank chiefs of the g7 nations to send unprecedented a. -- descendent on dresden today. they will likely eclipse all of us. hans nichols is in berlin. vasillis is in athens. hans, greases the topic people will be talking about. hans: that is right. we heard how jack lew plans to press his european counterparts and warn about the unpredictability about a potentially disastrous event in greece if they default. yesterday, yanis varoufakis insisted greece would make the 300 million euro payment to the imf. it was contingent to the idea that they would have a deal and get fresh cash with which they could actually make that payment with it is a circular argument from the greeks. at the same time you had a german official saint that germany is confident that an imf payment will be made. they think talks and progress can proceed from there. we do not have a whole lot this morning on which to hang optimism or pessimism. everyone is sorting out these comments. we will see wher

items 9, 10, 11 12 or 13. >> hello, i'm with the controller's office of public financing i want to speak briefly to some of the perimeter and items number 12 and 13 and also explain briefly some administrative changes to the resolution as the budget analyst presented the anticipated debt services on the bonds is that anticipated to be $4.5 million annually and expected $3 per hundred dollars of the assessed evaluation at the doebt ratio will increase by .03 percent as the evaluations at 6 percent well within the 3 percent legal debt limit issuance of the bonds will be consistent with the capital policy committee and not raise property taxes of point 01 cents per assessed value item 13 is the first resolution before you it authorizes the issuance of an in the amount of not to exceed consistent with the 2014 prop a that was proved on november nourth 2013 and item 12 authorizes and directs the sale of the bond within the $500 million not to exceed $47 million plus resolution also is just want with the administrations including the official notice of sale and the intention to sell bonds and

. >> next >> the city of san francisco sfgtv meeting of the san francisco finance committee occurring may 12, 2015, will begin shortly. >> the city of san francisco sfgtv meeting of the san francisco finance committee occurring may 12, 2015, will begin shortly. >> the city of san francisco sfgtv meeting of the san francisco finance committee occurring may 12, 2015, will begin shortly. >> good morning, today is may 12th, 2015 and, welcome to the finance committee of the san francisco county transportation authority, my name is john avalos the chair of this committee, and joined by commissioner eric mar and campos and we will be joined by other commissioners shortly, our clerk is steven, and today is committee meeting is brought to the public by sfgtv, staff, jessy larson and jonathan stockhouse and thank you for your work and, mr. clerk, could you please call the next item? >> item number one, roll call. >> avalos? >> present. >> campos in >> present. >> cohen? >> absent. >> kim? >> absent. >> mar. >> here. >> we have a quorum. >> okay, and could we call our consent calendar? >> consen

it is dayue after the finance meetings in brussels. the ecb is waiting. caroline: we do have that all-important meeting on monday. what are we encroaching on? elliott: the lead wants to give politics a chance. if there are talks of progress if they are about to make compromises or reach an agreement, the european central bank -- if they seem to be further apart than ever, and the ability to increase the amount of collateral they demand, it is about 23%. the greek banks need to get emergency liquidity assistance. the ecb was even looking at 90%, which would be consistent with those greek assets being in default. it is quite -- mark: you did say that benjamin netanyahu would form a new government. it was not a given, but you were right. it is very rare i give you credit. elliott: you could say it is very rare that i am right. i think that benjamin netanyahu it was always good to go down to the wire. they want to get the concessions, he gave the justice ministry in charge of appointing the attorney general. some talks of watering down the supreme court there

dollars are needed. 70% of the financing will come from the private sector.sed to gather the financial community. asset managers in order to finance the fight against climate change. caroline: you had a meeting with many is this leaders here. do you have the feeling the business community is leading the change? mestrallet: yes it is very interesting. five years ago, it was lagging behind the government in order to item against climate change. today, it is contrary. the gathering of all the chief executives and constructive dialogue we had yesterday with the governments, the united nations in order to know what will be the best way to avoid climate catastrophe has been very intense. we have seen that first -- failure would mean uncertainty and a drop in investments. secondly,, we want to favor the technology. low carbon technology is essential for the energy transition. third, there has been an immense call for a global carbon price. caroline: do you think there is any hope to put a price on carbon this year? mr. mestrallet: one single price would not make sen

of the senate join us on the finance committee. we had a bipartisan package as the distinguished president knows, in the finance committee which passed really overwhelmingly on a bipartisan basis. now, starting this debate and with what's ahead of us, we have a chance to build on the bipartisan work that took place in the finance committee. it's very appropriate that we begin this discussion focusing on trade enforcement as the 14 -- 13 -- 14 pro-trade democrats did yesterday in making an announcement with respect to the importance of this topic. it's going to be a good debate. the stakes are enormously high. mr. president, i look forward to working with my colleagues on both sides of the aisle to get this legislation passed, to get a bill that the president of the united states will sign, and with that, mr. president i yield the floor. a senator: mr. president. the presiding officer: the senator from oklahoma. mr. lankford: mr. president, i have a concern. it's not about trade. quite frankly trade is one of the things we've done as

it's not just, again about the terrorism financing in our last -- in our last meeting up at the federal reserve, it wasn't just about terrorism financing. we brought in from the f.b.i., we brought in experts from our counterintelligence division, from our criminal division from our cyberdivision, that again to make, to better inform the banks and hopefully through that, we can play a little piece of making all the banks that much better when it comes to compliance and when it comes to alertness. with regard to the examples you gave, again, it's a lot of that is not just terrorism that slows their funds through -- that flows their funds through banks. there's a lot of criminal activity that flows through banks. sometimes the banks need to be better at what they do, but often it comes as a result of us pointing things out to them. mr. levitt: if i can follow up, because there are lots of investigation into banks around the world, including russian banks, and there's improved compliance since then. when you talk to the federal reserve and others, what's your advice about in the very curren

-- finance ministers. theeadline to come up with the deal is unlikely to be met. angie: and so it continues. david: for four years now. you for that. let's get the market reaction in europe. take a look atu europe, we ended pretty much in the red. take a look at the three indices here. pretty much in negative territory. emerging markets, those stocks also ended down on the outlook of the u.s. rate hike. the greek stocks, the ase down 3 %. that is the most in nearly three weeks. for the past year, it has fallen over 32%. one of the worst-performing equity indices tracked by bloomberg right now. we did see a little bit of a selloff in it comes to the greek -- not greek, i should say german bond. if you take a look, the 10-year up about .3%. greece, though. we did see yields drop a little bit. you are still seeing yields above 11% right now. japan -- italy also in the green with a little bit of a selloff in those yields. let's take a look at the euro. that is also -- we saw a little bit of a selloff there as well

president i too, like the chairman of the finance committee have been here all day and i empathize with the dilemma that he faces along with the ranking member on how we move forward on this legislation. and this is a discussion that's been going on for months and months if not years which is what are we going to do as we deal with trade issues about the reauthorization of the export-import bank which expires at the end of june. so while i appreciate my colleagues on the finance committee and the movement of trade legislation i've had many discussions with them over the last several months about this very issue and the fact that this issue has to get resolved. now, i know that no member gets to have their way about what legislation gets an amendment. the list that was just given does nothing to guarantee we would ever see a vote on the authorization of the ex-im bank. while the other side wants to protect what they think are the opportunities to pass this legislation in the house which i respect, i don't think that the house has to dictate to the u.s. senate how we're going to proceed w

is this push/pull going on between macro news trying to cut rates -- on china cutting rates and the financeinisters meeting in europe to hammer out some kind of deal on greece. and is on the macro level on the micro level, health care shares are up in oil is down. oil prices are having a pullback on speculation that we will see glut for quite some time and more of a micro level, the oil stocks are taking a hit and that's the biggest drag on the s&p 500. and aenergy, murphy oil long list of the various oil producers are down sharply. noble is also making an acquisition by buying rosetta resources for $2 billion. that is also weighing on that stock. olivia: thank you so much. pimm: let's take a look at some of the top stories -- early today, a tornado struck a northeast texas and southeast arkansas and two people were killed and dozens injured there was widespread damage. earlier there were dramatic pictures from north texas were helicopters had to rescue people trapped by flashlights. storms have dumped up to seven inches of rain on the region. comcast is getting a new chief financial office

the san francisco county transportation authorities work program and budget will be presented to the finance committee in may for aprovel in june so this is a great opportunity for ustuse present how our work programs for the up coming year support vision zero. we are focus our work program into 3 primary areas for ease of understanding. this is plan fund and deliver. we treat the sftca vision zero committee as the primary and main forum. throughout the year we'll continue to support the board and also provide committees support. staff at the agency also participate on vision zero task force. we are actively voled in the steering #c34i9y and various other subcommittees including the education and communication and i'm a cochair of vision zero working group with [inaudible] as administrator of local voter approved revenue including the transportation sales tax and vehicle registration fees, our work program is based on traenz paerns and accountsability and meetings like this provide that opportunity fl public to really stay inform squd the board to stay informed about how aenshs are using tax

the french foreign minister calls for the presidential vote to be delayed. g7 in germany. financeth a 12 year low. the british prime minister begins a european tour to rally support for eu performs. welcome to "the pulse" live in london. now, lots to talk about today on the sh

that is key to the financing and the viability of these potential moves.carlet: the teams always want some help from the public sector. tax subsidies. metro l.a. is a bigger market in terms of the number of people and therefore dollars. an la-based team should be able to command higher ticket prices and tv rights. you can make the argument that they don't need as much in public subsidies. small cities have said they will not offer a dime. person is paying money to clean up the old landfill. the big difference here is what is called a personal feel license -- rich people buy these things. it's the equivalent of a season ticket. l.a. has a lot more rich people in it then san diego or oakland or st. louis. carson plan revolves around having these personal feel license is sold. san diego's financing component is a much smaller percentage. can they sell enough of these seat licenses to make the financing plan work? mark: speaking of the public, is this something they want? >> that is the question. l.a. has not had a pro football team in 20 years. most of the fa

>> well the priority is exactly what the finance minister said tents and blankets. in the capitol, kathmandu, six days and we're still seeing people sleeping out in the open. the tents really only provide a token protection from the cold. and there is a great immediate for medicines for water-born diseases like cholera and now the big concern is the spread of disease, and an appeal has been made by the government for these basic necessities. and not to send money necessarily, but to send goods, because even if they send money, there is nothing really here to buy. >> faiz jamil with the latest from kathmandu. thank you. >>> we're going to have a special program on saturday exactly one week after the devastating earthquake hit the country. >>> papua new guinea has been hit by a second big earthquake in 24 hours. the 6.8 magnitude quake struck in the southwest. there are no immediate reports of casualties or damage and the tsunami warning was quickly lifted. the quake hit the country on thursday. >>> thai police say they found 32 graves at an abandoned trafficking camp