[background noises] good afternoon everyone. You look like a great crowd here this afternoon. Before we even start give yourselves a big round of applause for coming to learn more about closing the wealth gap in diversity and inclusion. We have some wonderful panelist with us this afternoon. I am so pleased to be here today and honored to be hosting this panel on Financial Services closing the wealth gap and providing access to capitol my name is maxine waters. [cheering] formerly chair of the Financial Services committee of the house of representatives and now the ranking member. Still trying to carry on the work that we were doing as a chair. As you know after the recent election they were able to get control of the house of representatives and they dismantled our subcommittee that i had created on diversity and inclusion. But we are going to talk about what it means to have this wealth gap. You are going to talk to some people who are dealing with clothing this wealth gap have to cl
[background noises] good afternoon everyone. You look like a great crowd here this afternoon. Before we even start give yourselves a big round of applause for coming to learn more about closing the wealth gap in diversity and inclusion. We have some wonderful panelist with us this afternoon. I am so pleased to be here today and honored to be hosting this panel on Financial Services closing the wealth gap and providing access to capitol my name is maxine waters. [cheering] formerly chair of the Financial Services committee of the house of representatives and now the ranking member. Still trying to carry on the work that we were doing as a chair. As you know after the recent election they were able to get control of the house of representatives and they dismantled our subcommittee that i had created on diversity and inclusion. But we are going to talk about what it means to have this wealth gap. You are going to talk to some people who are dealing with clothing this wealth gap have to cl
Bringing housing and affairs will come to order. Thank you from our eight witnesses today. Senator, thank you for your work on this. The eight bank ceos appearing before us today lead the biggest global systemically important banks of the United States of america, your banks hold nearly 15 trillion in assets, manage trillions of dollars of investments and retirement accounts, fund the Biggest Companies in our country. You hold nearly half the nations deposits, more than 80 trillion in client assets, your banks touch almost every aspect of our Financial System and working americans money, even if they are not your customers. All of that makes you eight of the most powerful people in the country, the banks iran are so large, so complex, so interconnected, that their distress or failure could pose a threat to the entire global Financial System. You may be private companies, but the risks you take and the mistakes you make dont just affect you, they dont even just affect your customers, no
Bringing housing and affairs will come to order. Thank you from our eight witnesses today. Senator, thank you for your work on this. The eight bank ceos appearing before us today lead the biggest global systemically important banks of the United States of america, your banks hold nearly 15 trillion in assets, manage trillions of dollars of investments and retirement accounts, fund the Biggest Companies in our country. You hold nearly half the nations deposits, more than 80 trillion in client assets, your banks touch almost every aspect of our Financial System and working americans money, even if they are not your customers. All of that makes you eight of the most powerful people in the country, the banks iran are so large, so complex, so interconnected, that their distress or failure could pose a threat to the entire global Financial System. You may be private companies, but the risks you take and the mistakes you make dont just affect you, they dont even just affect your customers, no
Bringing housing and affairs will come to order. Thank you from our eight witnesses today. Senator, thank you for your work on this. The eight bank ceos appearing before us today lead the biggest global systemically important banks of the United States of america, your banks hold nearly 15 trillion in assets, manage trillions of dollars of investments and retirement accounts, fund the Biggest Companies in our country. You hold nearly half the nations deposits, more than 80 trillion in client assets, your banks touch almost every aspect of our Financial System and working americans money, even if they are not your customers. All of that makes you eight of the most powerful people in the country, the banks iran are so large, so complex, so interconnected, that their distress or failure could pose a threat to the entire global Financial System. You may be private companies, but the risks you take and the mistakes you make dont just affect you, they dont even just affect your customers, no