Strategy, the pivot, the military girding of that is largely the u. S. Navy and the central that makes much sense if the navy is stable in size or growing because otherwise you have 60 of a smaller force that may be less than 50 of the old force and if you do the math, sequestration is roughly at the crossover point. In other words, it would force a reduced fleet size if it was to stay over longterm, which would be in the range of lets say 240, 250 ships, maybe less and 60 of that is no improvement. Relative to 50 of where we are today. Which is about 285 ships. Its more or less a watch. If you are trying to send a signal, you have taken the ability away by sequestration. Thats a clear way and a reason im against sequestration. I dont think we need a build up, but a nice, steady, real increase would be, to me, a good thing. Over to you. Thank you. If i had a real good answer for the question, id probably call the secretary of defense this afternoon and let him know, but its a very impo
Screeria nigeria. Briefing. And later epa Administrator Gina Mccarthy testifies on her agencys 2016 budget request. Next treasury secretary jack lew and John Koskinen testify on the 2016 budget request for the Treasury Department. They also discuss cybersecurity, tax fraud, Taxpayer Services, and Small Businesses. This runs just under two hours. The subcommittee on Financial Services and general government will come to order. Good afternoon. The subcommittee as i said, will come to order. Today marks the first hearing of the Financial Services and general Government Subcommittee for the 114th congress. This is also my first hearing as subcommittee chairman. And im pleased to serve alongside the new Ranking Member my good friend, senator coons. I would also like to acknowledge senator langford and senator durbin. Although our subcommittee is small, the number of agencies we fund is large. And their impact on our economy is significant. Im confident that our members are up to the task be
On the theme that chairman boos man started with about, Community Banks can make significant difference. Describe how the Community Development Financial Institutions fund is used to help rebuild distressed neighborhoods and Small Businesses and the bond guarranty program ramp up two billion how they might play a constructive role providing access to capital first. Second, senator boozman. About the burden, the Regulatory Burden on smaller banks. I heard from a number of folks from the Financial Community who believe once banks obtain more than 50 billion in assets they suddenly become subject to Regulatory Oversight of the megabanks. While im a strong supporter of steps taken in doddfrank to prevent future crises im wondering if that is quite accurate or is there a step series where you steadily ratchet up regulation into froing size . Would welcome your insight into that point as well. Thank you, senator. Cdfi i think is enormously Effective Program both because of what it does direc
Dive ahead of the closing bell. Some say it was end of quarter rebalancing and others say it was uncertainty surrounding the Iranian Nuclear talks that kept investors on edge. At the close, the Dow Jones Industrial average dropped 200 points to 17,776. The nasdaq finished 34 points lower to 4900 and the s p 500 fell 18 for the quarter, sue, blue chip posted First Quarterly decline in a year that would be the dow. Nasdaq and s p 500 rose for the ninth consecutive time. As for the best and worst performing stocks in the s p 500, hospira topped with a quarterly gain of 43 . The big loser on the s p 500, san disk. Off 35 . One of the biggest stories of the quarter, of course, the doll it had its strongest three months since way back in 2008 while the euro posted its worst quarter on record. Now to those iran nuclear talks. A big geopolitical undercurrent for the markets. The state said the talks between iran and six world powers go past todays selfimposed deadline and extend to tomorrow. J
Dive ahead of the closing bell. Some say it was end of quarter rebalancing and others say it was uncertainty surrounding the Iranian Nuclear talks that kept investors on edge. At the close, the Dow Jones Industrial average dropped 200 points to 17,776. The nasdaq finished 34 points lower to 4900 and the s p 500 fell 18 for the quarter, sue, blue chip posted First Quarterly decline in a year that would be the dow. Nasdaq and s p 500 rose for the ninth consecutive time. As for the best and worst performing stocks in the s p 500, hospira topped with a quarterly gain of 43 . The big loser on the s p 500, san disk. Off 35 . One of the biggest stories of the quarter, of course, the doll it had its strongest three months since way back in 2008 while the euro posted its worst quarter on record. Now to those iran nuclear talks. A big geopolitical undercurrent for the markets. The state said the talks between iran and six world powers go past todays selfimposed deadline and extend to tomorrow. J