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With all of this Global Selling starting after weaker than expected ism numbers. It was a big drop. It dropped from 56 to just over 51. Massive unexpected decline and that really started things off. At the end of the day, the dow was down sliding 326 points to close below its 200day moving average. Also, the s p 500 losing more than 4 had . And the nasdaq dropped 106 points, to close below the 4,006 level. Where does that leave thus morning . At least at this point, the futures have been bouncing back, but just mildly. Now youre seeing some of the hesitation. At some point, the dow futures up ...

Wealthy, it was structured to make American Society homeowners. And now were in 2013, and its only the wealthy who have access to the conventional market. And we need to be much more aggressive about thinking through one of the appropriate measures to use such that the governments backstop, whether its fannie or freddie or private institutions, actually serve a public purpose which is to build Home Ownership across the income and across the racial spectrum in america. You know, im not as intelligence at the three of you to be able to remember all six questions david asked [laughter] thats why ...

And i started there. I start i thought i would start by following up what senator hatch talked about, which is new technology that i understand has been adopted in europe. Is that true . Yes. And is it true that in great britain, they have seen a major decrease in these kind of breach as . They have seen a decrease a decrease. They have also seen a shift to the online channel. What is stopping our country when they are doing this in europe . I think they started using this kind of technology back in 2003. What has stopped it from being rolled out on a major basis, and how can we change that . ...

That store data. You think this precludes the need for a federal dado security . No, i dont. We have used our authority under section five of the ftc act. We think we have used it effectively. In particular, we think there are three areas we could issue authority. We would like to see legislation that would give the fcc civil penalty authorities. That will enable us to deter more effectively. We also believe that we need jurisdiction over nonprofits. We found that a number of breaches occur at nonprofits. We lack authority over nonprofits. That is a gap we would like to see filled. In addition...

The ftc is committed to protecting Consumer Privacy and Data Security in the private sector. Since our first Data Security case in 2001, the ftc Data Security program has been a strong bipartisan effort that includes Law Enforcement to my education, and policy initiatives. Several lawsces that protect consumer data. Under the ftc act, the agency can take action against companies that engage in deceptive or unfair practices, including deceptive or unfair Data Security practices. The ftc also enforces several laws that require special protections of certain business sectors. The credit reporting...