Financial Markets Oversight and Regulation
2008-10-21T10:04:30-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvMTE0XC8yODE4OTYtbS5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==The House Financial Services Committee held a hearing on the possible restructuring of the financial markets, including financial institution oversight and regulation, systemic risk and housing finance. Witnesses focused on the extent to which an outdated and weak regulatory system contributed to the current market turmoil and whether adoption of a stronger and more robust financial regulatory system could contribute to a more rapid recovery in the financial markets and the economy.
Some exchanges between committee members became somewhat contentious. At one point Chairman Frank took an extra five minutes to respond to Representative Garrett’s charges that Democratic members had been responsible for inadequate regulation. In the resonse Representative Frank outlined several bipartisan votes on regulatory measures and said charges that they were the product of Democratic-led policy initiatives were only “in (Rep. Garrett’s) head.”
Some exchanges between committee members became somewhat contentious. At one point Chairman Frank took an extra five minutes to respond to Representative Garrett’s charges that Democratic members had been responsible for inadequate regulation. In the resonse Representative Frank outlined several bipartisan votes on regulatory measures and said charges that they were the product of Democratic-led policy initiatives were only “in (Rep. Garrett’s) head.”
The House Financial Services Committee held a hearing on the possible restructuring of the financial markets, including financial institutio… read more
The House Financial Services Committee held a hearing on the possible restructuring of the financial markets, including financial institution oversight and regulation, systemic risk and housing finance. Witnesses focused on the extent to which an outdated and weak regulatory system contributed to the current market turmoil and whether adoption of a stronger and more robust financial regulatory system could contribute to a more rapid recovery in the financial markets and the economy.
Some exchanges between committee members became somewhat contentious. At one point Chairman Frank took an extra five minutes to respond to Representative Garrett’s charges that Democratic members had been responsible for inadequate regulation. In the resonse Representative Frank outlined several bipartisan votes on regulatory measures and said charges that they were the product of Democratic-led policy initiatives were only “in (Rep. Garrett’s) head.” close
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