Director cordray, the cfpb has now been up and running for almost three years. What do you consider to be the most significant accomplishment of the bureau since 2011 and looking forward, what actions can we expect either the bureau out of the bureau over the next three months co thank you, mr. Chairman. Its a broad question. First of all, the challenge of building a federal agency from scratch has been significant. Weve had some growing pains and weve been working through those. But at the same time, weve gone from zero employees to now close to 1400 employees. People who are very dedicated to protecting consumers and seeing that they are treated fairly. They are doing marvelous work. The mortgage rules we put in place that congress put such a high priority on, had been very significant. Thats a single biggest Consumer Financial market. The enforcement activity that weve had to ensure that institutions understand that people need to be treated fairly and money will go back to peoples
Minutes. They are raising another 1 billion in capital which we dont want to get lost in the shuffle. 28. 7 conversion premium. A 6 cue ton. Thats pretty rich stuff for a company that many say, jim, didnt necessarily need to raise money or had plenty of cash, that cash being part of it. Any potential appeal that it might have had. As for the process itself, we all know it was a difficult one. I had pointed out many a times, the letter of intent that was signed by fairfax back in late september didnt obligate them to anything and financing a potential deal from them was going to be extraordinarily difficult as we reported right here at squawk on the street at 9 a share. They step up for 250 million of this convertible the company is issuing today. They are becoming the lead director, correct . Correct. Major turnover here. This seems to be one that every month is doing worse. So i know you said they dont need the capital but, to me, i look at it. They said they dont need the capital. Wh
Youre watching bloomberg television. This is Market Makers. Stephanie rule is off today. She is still working. Morets begin with disappointing economic news. We got the disappointing reading on private payrolls. Ont now, the isn manufacturing index, which measures the health of the Services Economy came out lower than expected. Mike mckee has more for us. They seem to break their own, putting out the release a little bit early. We were expecting a little bit of a decline and we got a big decline instead. Down to 51. 6. You can see a weather affect in this. Usiness activity fell rose. It looks like what may have happened is people cannot get to work. That pushes down the composite index. The one everybody is looking at we have some bad news down to 47. 5. Thes considered roughly dividing line between expanding and contracting. This is suggesting that Service Sector employment contracted in february. Factor that into your cap collations for friday and people will get really pessimistic a
Indian ocean, its comprised of 1200 islands with clear blue seas and white sands. I cant wait to visit this Beautiful Island nation. I hope by the time i visit it, its not under water. Its the lowest lying country on earth with 80 of the islands 3. 5 feet above sea levels. With sea levels having risen, that means the nation could be uninhabitable in 2100. In 2009, then the president and 13 cabinet members held an underwater cabinet meeting. They signed documents calling on all countries to reduce their Carbon Dioxide emissions ahead of a Climate Change conference at the u. N. While it seems like a country far away, its indicative of the real effects of Climate Change and the effects they have on us. Those suffering from Hurricane Sandy might disagree. As a country, where does that leave us when it comes to addressing and committing to comprehensive environmental policy . We are the same country that signed the protocol to reduce greenhouse emissions but never rad fied it. There arent e
This morning, my question. If republicans cant win the vote, will they rig the vote . Plus, my interview with former gop star, head boilermaker, mitch daniels. And which schools are we closing and why . First, can president obama save the planet . Good morning. Im Melissa Harris perry. The maldives. Just saying the name brings a smile to my face and a feeling of relaxation located in the indian ocean, its comprised of 1200 islands with clear blue seas and white sands. I cant wait to visit this Beautiful Island nation. I hope by the time i visit it, its not under water. Its the lowest lying country on earth with 80 of the islands 3. 5 feet above sea levels. With sea levels having risen, that means the nation could be uninhabitable in 2100. In 2009, then the president and 13 cabinet members held an underwater cabinet meeting. They signed documents calling on all countries to reduce their Carbon Dioxide emissions ahead of a Climate Change conference at the u. N. While it seems like a coun