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[inaudible conversations] this committee will come to order. Without objection the chairs authorized to declare a recess at any time to be entitled Holding Wells Fargo Accountable the bank that broke americas trust i recognize myself for four minutes to give an Opening Statement. Today wells fargo ceo will testify before the committee about how he plans to and wells fargo egregious pattern of consumer abuses. We invited him to testify before this committee the last three and half years. We will note each time a ceo has testified before this committee he has resigned they are soon after. [laughter] you are taking on a massive challenge i certainly wish you luck it is clear to this committee that the bank you inherited is a lawless organization has caused widespread harm to millions of consumers throughout theor nation. Ells fargo has opened three. 5 million ....
Come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to ....
Mr. Mchenry you have access of liquidity to get through any crisis you would foresee . Yes, absolutely. Mr. Mchenry in terms of safety and soundness, you are from the harm previous regime, thats positive. In terms of safety and soundness youre management, cleaning up the ship. So our expectations is we should have no problems from you in soundness, ety and is that fair . Mr. Scharf i think its fair work once we finish the we laid out, you should feel that. Mr. Mchenry ok. At employees do you have wells fargo . R. Schaefer i have mr. Scharf 260,000. Mr. Mchenry how many are customer facing . R. Scharf i dont know the answer. It has to be easily 100,000. Mr. Mchenry sure. Do you have plans in order to respond to the current threats covid19, especially in your footprint in california . Absolutely. We are, as i said mr. Mchenry as well as and other state primaries that are seeing an outbreak . Approach on ur covid 19 is we should do the ing we can to ensure safety of our employees as well ....
Goldman says the coronavirus will hit prospects for copper, as Chinese Industrial action is in significantly below capacity. Anglo american starts a busy week for commodities earnings today. The curse of monsanto. In the midst of the roundup scandal, bayer faces a potential multibilliondollar lawsuit over a second weedkiller it inherited in the 2018 chemicals megadeal. Just under an hour away from the start of cash Equities Trading across europe. We will take a look at futures this morning. Acrossseeing gains europe and u. S. Futures. We still have a wild to go until the u. S. Opens, but we have decent gains in europe. Dax of more than one third of a percent, ftse futures up. 25 this morning. We also seeing gains in the u. S. , although we have solid a seven a solid seven hours until he open up over there. And dows p, nasdaq, jones futures all gaining this morning. We h ....
Bill imposing sanctions on chinese officials. Donald trump and Emmanuel Macron share Tense Exchange over turkey as World Leaders meet in the u. K. Brinarry page and sergey step down as the head of alphabet with Sundar Pichai stepping over stepping on sco. As ceo. Matt good to be back. We have seen real risk off sessions. Tuesday,nday and yesterday really lost a lot of ground. Now, we are down right there. We turned lower as we head into trade. Even though we see green arrows across equity futures, you do see investors starting to buy up again. Young see a lot of movement on see futures, but you do futures up a quarter of 1 heard quarter of 1 and. 2 on mastec s p. S p. The nasdaq as if theooks riskoff mood we have seen december isthrough continuing despite positivity ....