. >> tim valenti is our guest. -- tempe flinty >> he was the presidential hopeful and went on to serve as cochair on mitt romney's campaign. we will be talking about financial services, regulation, and politics. thanks for being with us. tim: glad to be here. susan: tracy is financial regulation reporter of the wall street journal. before we get to them, china this week announced big decisions, the devaluation of its currency and that it would start selling dollars. i want you to put both hats on. what are the possibilities for global markets impacts. and what are the geopolitical applications of this? susan in terms of markets, it has been unsettling. we have seen them react in the wake of this announcement. it will have applications for other american businesses that try to access and maintain market share is china. beyond that, it underscores the concerns regarding currency mitigation that china has been guilty of for a number of years. this brings to the forefront the willingness to manipulate their currency that is advantageous to them. host: let's turn to you. >> a question about