Up next on American History tv, the Treasury Department hosts a ceremony to rename the Treasury Building to freedmans Bank Building. This is about 30 minutes. Brodi fontenot good afternoon. My name is Brodi Fontenot, and i have the assistant secretary for management here at the Treasury Department. Thank you all for being here today. Those of you joining us virtually as well. It is a tremendous privilege to come to work here at the Treasury Department every day in this historic building, knowing that for more than a century, decisions made in this building have impacted the lives of our fellow citizens. I am honored to work for secretary lew, a tireless leader and advocate for the cause of the institution. Often times in the day to day routine, it is easy to forget the historic significance of the institution we work for, the legacy that we are a small part of, and the people we serve. Today, we take a small step in preserving the history of the building and the legacy of service and i
October 2011 that the s p 500 has rallied at least 1 in three consecutive sessions. U. S. Equity futures at this hour, the dow opening higher. S p would open about five points higher. Among our other top stories this morning, were watching oil prices very closely. Brent has been above 35 a bar reversal. Wti above 31. That, of course, as we know can change depending on whatever these ministers that are participating in opec like to say. The late etc. Development, iran said it would support joint efforts by Top Oil Producers to stabilize prices. The market had been waiting to see where iran would come down on that. It did stop sort of committing to those output curbs. St. Louis fed president making headlines. Hes been a prominent advocate of higher Interest Rates. In a speech yesterday, he said it would be unwise to move any further, citing weak inflation and global volatility. Bullard said he wouldnt be comfortable with further hikes until the downward inflation trend reverses. Hes a Vo
Senator gordon smith, president and ceo of the National Association of broadcasters, welcome back to the communicators. We appreciate being here. Guest thank you its a pleasure. Host the current fcc, five commissioners have been a place for a couple of years now, youve, youve got to work with them, how would you describe your relationship and how would you describe the current fcc. Guest i think it is fair to say this is proving to be one of the more partisan fccs i have ever observed. I say that having observed many of them on the congress committee. I think it is stylistic and i think chairman wheeler has an agenda in mind and he wants to push it and he needs to votes. It makes it challenging for us but because on one hand our issue, telecommunication issue should not be republican and democrat. It seems to be more divided that way than i have ever seen. That is their business and my business is to work with both sides constructively and as effectively as possible. Is the fcc structu
What we saw was a market that was dysfunctional. So the commission took years to respond but it finally did. And we acted initially to take care of interstate rates. We acted again to look at the entire we passed on order that looks at the entire portfolio and the parties are poised to challenge that. We have published in the federal register which gives the green light to move forward and they are moving forward and we are responding to petitions for stay. Host so it is in the court system right now. But how much of a reduction in rates are you looking at . Guest what we have seen as rates we have heard about rates as high as 14 a minute. That is unusual but we are on record that happened. On average you have about 1 a minute and families were paying hundreds of dollars a year to speak to their loved ones. What we are going to see now is 1012, depending on the size of the institution, cents per minutes and it will make a tremendous lives to families. A call that might have been 15 17
That was dysfunctional. And so the commission took years to respond but it finally did and we acted initially to take care of interstate rates a few months ago. We acted again to look at the entire we passed an order looked at entire portfolio, meaning intrastate rates. Right now parties are poised to challenge that. So we have already published in the federal register which gives them a green light to move forward and they are moving forward and we are responding to some petitions for stay. Host so it is in the court system right now but, how much of a reduction in rates are you looking at . What we have seen, we heard rates as high as 14 a minute. That is unusual but we are on record that has happened. On average a dollar or so per minute. Families were paying hundreds of dollars a year to speak to their loved ones. What were going to see now is 10, 12, depending on the size of institution, cents per minute. It will make a tremendous difference in lives of families in terms of afford