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CSPAN3 Key Capitol Hill Hearings June 22, 2024

From first page to the back page. I think that as a matter of policy and procedure and human rights we should have the posting of passports in nepal. I dont question for a minute we should have it from day one. We will now going forward. Anything we communicate to the nepalese we do it both in english as well as the nepalese including their contracts, their Employment Contracts thank the chairman for additional time, and i yield back. Thank you. Now recognize mr. Cummings for five minutes. Thank you very much mr. Chairman. Id like to discuss the examination of two Construction Contracts at the kabul embassy. The first one was in 2009 and the second was awarded in 2010 to a different contractor, thats correct . Thats correct. Can you briefly describe the two things that were contracted and their estimated completion dates . I believe the 2009 contract was to cons ....

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CSPAN3 Key Capitol Hill Hearings June 22, 2024

Engineers to say these are the basic requirements and put our buildings together. So we could give you many documents, i think you have requested many of those already and were in the process of giving those, so im happy again to have our folks work with yours and to prioritize the list of things that youre asking for and to make sure that you get every single thing that youre asking for. This is sort of the recurring theme here. Were asking what was the plan for kabul, and there wasnt one. What is the plan for Design Excellence as opposed to standard embassy design, which was pretty fairly clearly defined. There are plans for both. And we can provide you documents for all of those things if we havent already. That would be great, because we have been asking for a long period of time. And we still havent got to that point where you could say, all right, now based on this, you should be able to understand everything were doing w ....

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CSPAN3 Politics Public Policy Today June 22, 2024

Wouldnt a level Playing Field as you said from your testimony, we have concerns about things like there is a some Data Retention obligations and we think you could do it differently. There is a best interest contract framework and weve heard feedback from folks saying it is clunky and there is a more streamlined way to do it. We have a point of sale disclosure requirement and people have said that that is not necessary. And so what weve done in every circumstance when someone said that the best interest contract is clunky, our response is tell us how to do it better. How do we retain that north star of enforceable best interest contract and still get it done and that is the feedback weve been getting and it has been helpful. And youve incorporated it. We havent made final decisions yesterday. We wont put out a rule until weve gotten all of the comments. Im confident if history ....

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CSPAN3 Key Capitol Hill Hearings June 22, 2024

Their own studies show the main drivers of default are loan devalue, borrower credit score. Everything else is literally a rounding error. And so of course, the final doddfrank rules essentially abandon the things that actually drive default. And endless servicing requirements, again making it near impossible to foreclose. My opinion is the rule increased foreclosures last time around rather than decrease them. And the harder it is and the mission has nothing to do with financial stability. The mission is to use the the regulatory system to force prudent borrows to subsidize imprudent. We all knew the crisis was quite costly. It also will provide a cover for massive expansion and government powers. One minute. Im not even go i think to need that. So i would say and would say avoid financial cryises. I think a repeal is not enough. The presystem was broken. It was flawed. And to me one of the real flaws of doddfrank is it extends the precrisis system. The theme of doddfrank is, lets exp ....

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CSPAN3 Key Capitol Hill Hearings June 22, 2024

Minerals for firms not only firms getting the actual hard commodities there, but also for firms well down the supply chain, who have no idea where the aluminum in the electronic parts came from. So i think its telling when a liberal law ultimately convinces the Washington Post Editorial Board that it was a bad idea, which they have come out against conflict minerals. Its time to revisit the motion all together of including immaterial disclosures in security laws. Both by legislative fiat and by the sccs own power. And republican and democratic chairmen have both been guilty of this. I think it should be a binding constraint on any rule making. And business round table stands for the proposition. How is a mandatory immaterial disclosure going to provide benefit to investors . None. By definition fails cost benefit analysis. We have ways to measure immateriality. Methodology ....

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