| 00:01:03 |
Bachus, Spencer - U.S. Representative, [R] Alabama
SUMMER COMEDY SET IN MOTION THE MOST AMBITIOUS CHANGES IN FINANCIAL INSTITUTION REGULATION SINCE THE GREAT DEPRESSION. WHILE AMERICAN REGULATORS AND...
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| 00:05:49 |
Frank, Barney - U.S. Representative, [D] Massachusetts
THAT THE TESTIMONY OF MR. ZUBROW THE WHEEL HERE LATER. I WAS PLEASED TO HEAR HIM SAY IN ITS FIRST CASE, CERTAINLY THE FINANCIAL CRISIS POST A RESPONSE...
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| 00:12:37 |
Royce, Edward "Ed" - U.S. Representative, [R] California
THE RADAR THIS REFORM EFFORT IS GONE. LET'S NOT FORGET THIS ALL STARTED WHEN CONGRESS DECIDED TO EMBARK ON A COURSE OF SOCIAL JUSTICE TO GET EVERYONE...
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| 00:14:00 |
Waters, Maxine - U.S. Representative, [D] California
BAYER WHOSE FIVE-YEAR TENURE AT THE FDIC WILL COME TO AN END AT JULY 8. CHAIRMAN BAYER, I IMAGINE THIS MAY BE HER LAST TIME TESTIFYING BEFORE THIS...
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| 00:16:05 |
Hensarling, Jeb - U.S. Representative, [R] Texas
SUMMER OF RECOVERY. WE NOW HAVE ONE OF SEVEN AMERICAN ON FOOD STAMPS. NEW BUSINESS STARTED SERVING A 17 YEAR LOW. AND NOW TAKES 10 MONTHS ACCORDING...
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| 00:17:17 |
Maloney, Carolyn - U.S. Representative, [D] New York
I JOIN MY COLLEAGUE IN THINKING SHE WOULD BEAR FOR HER EXTRAORDINARY LEADERSHIP DURING ONE OF THE MOST DIFFICULT TIMES IN OUR HISTORY. HE DID AN INCREDIBLE...
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| 00:19:52 |
Biggert, Judy - U.S. Representative, [R] Illinois
IMPORTANT DYNAMICS OF REGULATORY FORMS IS TO KEEP OUR U.S. FINANCIAL INDUSTRY COMPETITIVE PAY WITHOUT A STRONG FINANCIAL SECTOR THAT CAN ISSUE LOANS...
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| 00:21:19 |
Scott, David - U.S. Representative, [D] Georgia
I'D LIKE TO ALSO CONVEYED MY DEEP APPRECIATION TO MS. BEYER FOR HER EXCELLENT WORK. I WANT TO TALK ABOUT THE INTERNATIONAL ASPECTS OF THIS. THERE IS...
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| 00:23:49 |
Capito, Shelley Moore - U.S. Representative, [R] West Virginia
MORE CLEAR THAT A MORE INTERCONNECTED THAN EVER BEFORE. ON ONE HAND WE SEE TECHNOLOGICAL AND COMMUNICATION ADVANCES THAT ALLOW COMPANIES FROM AROUND...
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| 00:25:02 |
Garrett, Scott - U.S. Representative, [R] New Jersey
A LONG WAY FROM SOLIDARITY BACK IN 09 IN PITTSBURGH WITH E.G. 20 WHERE WE ARE TODAY. I GUESS THAT'S BECAUSE THEY'RE SUBSTANTIAL DIFFERENCE IS BEGINNING...
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| 00:28:17 |
McHenry, Patrick - U.S. Representative, [R] North Carolina
OUT OF OUR MARKET INTO OTHER MARKETS ACROSS THE GLOBE, AND THIS IS AT A VERY TIME WHERE COMPANIES ARE STARVED FOR CAPITAL IN ORDER TO CREATE JOBS....
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| 00:29:04 |
Manzullo, Donald "Don" A. - U.S. Representative, [R] Illinois
CONTEXT WHEN STILL I HAVE COMPANIES BACK HOME, FACTORIES WITH ORDERS, BUSINESS PEOPLE WHO ARE UNABLE TO GET THEIR LINES OF CREDIT RENEWED BECAUSE OF...
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| 00:29:59 |
Grimm, Michael - U.S. Representative, [R] New York
WITNESSES. I'LL BE VERY, VERY BRIEF. OBVIOUSLY, WE'RE CONCERNED THE IMPLEMENTATION OF DODD FRANK IS GOING TO HURT THE U.S. MARKETS COMPETITIVENESS,...
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| 00:30:51 |
Schweikert, David - U.S. Representative, [R] Arizona
WE'RE HEAR THE COMMENT OF REGULATORY ARBITRAGE. I'M TRYING TO GET MY HEAD AROUND HOW MUCH IS FOLKLORE, HOW MUCH OF THAT EXISTS, HOW MUCH IS RULE FOR...
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| 00:31:42 |
Bachus, Spencer - U.S. Representative, [R] Alabama
FACE, AND WE COMMEND YOU FOR YOUR HARD WORK IN INDUSTRY. OUR FIRST WITNESS FROM MY, I GUESS, LEFT TO RIGHT, IS HONORABLE, LAEL BRAINARD. THIRD WITNESS...
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| 00:32:58 |
Brainard, Lael - Undersecretary
THAT WE SHOULD SLOW IT DOWN, WAIT TO SEE WHAT OTHER COUNTRIES IMPLEMENT. I DON'T AGREE. BY MOVING FIRST AND LEADING FROM A POSITION OF STRENGTH, WE...
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| 00:38:33 |
Tarullo, Daniel K. - Member
AND INTRODUCED LIQUIDITY STANDARDS, THE THREE BANKING AGENCIES IN FRONT OF YOU AND REGULATORS AROUND THE WORLD. THE FINANCIAL CRISIS REVEALED THAT THE...
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| 00:43:39 |
Bair, Sheila C. - Chair
ON THE IMPORTANCE OF STRENGTH AND CAPITAL REGULATION. A STRONG AND STABLE FINANCIAL SYSTEM IS A PRECONDITION FOR A VIBRANT AND COMPETITIVE U.S. ECONOMY....
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| 00:48:45 |
Schapiro, Mary L. - Chair
REFORM CONSUMER PROTECTION ACT. THE ACT ESTABLISHES A HOST OF NEW REFORMS WITH IMPLICATIONS TO COMPETE INTERNATIONALLY. I TESTIMONY DISCUSSES A NUMBER...
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| 00:53:55 |
Gensler, Gary G. - Chair
LAST TIME WE TESTIFY TOGETHER, AND BEST OF EVERYTHING YOU DO. IT'S NOW BEEN MORE THAN TWO YEARS SINCE THE FINANCIAL CRISIS, AND WHEN BOTH THE FINANCIAL...
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| 00:58:49 |
Walsh, John - Comptroller of the Treasury (Acting_
BANKING AGENCIES HAVE WAYS UNDERWAY TO HAVE REQUIREMENTS CONSISTENT WITH DODD-FRANK AND BASEL III. WE BELIEVE IT'S IMPORTANT TO SEE NOT HOW ONLY INDIVIDUAL...
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| 01:04:07 |
Bachus, Spencer - U.S. Representative, [R] Alabama
AVOID TAXPAYER FUNDING, AND THE SHOCK IT DOES THE ECONOMY, AND I THINK THE SAME IS TRUE OF OVERLEVERAGEING, AND HAVING SAID THAT, I THINK I'M -- THERE'S...
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| 01:05:07 |
Tarullo, Daniel K. - Member
WHAT WE'RE TALKING ABOUT, A SURCHARGE. >> RIGHT. IT COMPLEMENTS THE RATIONALE FOR BASEL III, A FIRM-BY-FIRM ANALYSIS. FOR THE BASEL III STANDARDS,...
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| 01:09:10 |
Brainard, Lael - Undersecretary
ACROSS COUNTRIES AND MANDATORY IN EVERY JURISDICTION, AND THAT'S WHY THERE'S AN EMPHASIS ON HAVING COMMON EQUITY, OF COURSE, THE STRONGEST MOST LOSS...
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| 01:10:18 |
Bachus, Spencer - U.S. Representative, [R] Alabama
ALLOWED EUROPEAN BANKS TO REDUCE THEIR CAPITAL LEVELS. AS THE RECESSION HIT WHEN YOU EXPECT THE LEVELS TO GO UP BECAUSE THE PROPERTY OF
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| 01:10:29 |
Bair, Sheila C. - Chair
TO FACULTY ON -- DEFAULT ON LOANS WAS LIKELY. THE REPORT WE'RE HAPPY TO SHARE WITH YOU, INVESTORS HAVE NO CONFIDENCE. IT'S A LARGE ISSUE, BUT ALL THE...
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| 01:11:31 |
Frank, Barney - U.S. Representative, [D] Massachusetts
WORKING RELATIONSHIP WAS A BEN FORMAL ONE FOR ME, AND I WANT TO MAKE A PREDICTION NOW THAT SHE WILL BE MISSED EVEN BY PEOPLE WHO DON'T KNOW THAT NOW,...
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| 01:16:30 |
Gensler, Gary G. - Chair
THE FCC, NICHEUATING DIALOGUES WITH COLLEAGUES. >> DO YOU HAVE THE AUTHORITY COLLECTIVELY TO ADJUST IF THERE'S A PROBLEM? >> I THINK THAT WE HAVE A...
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| 01:18:03 |
Hensarling, Jeb - U.S. Representative, [R] Texas
PANIC OF 2008, AND CLEARLY THERE'S A CONVERGENCE OF OPINION. THEY MUST BE RAISED. I THINK THE QUESTION PARTICULARLY IN THIS HEARING THAT HAS TO BE ADDRESSED...
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| 01:20:13 |
Brainard, Lael - Undersecretary
IMPACT OF THOSE CAPITAL STANDARDS, AND OUR REGULATORS DID A LOT OF IMPACT HERE ON THE U.S., AND IT WAS ALSO DONE INTERNATIONALLY, AND THERE WAS BROAD...
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| 01:23:18 |
Waters, Maxine - U.S. Representative, [D] California
THE HONORABLE SHEILA BAIR. SO MANY PRACTICES AND CONSIDERABLE AMOUNT ARE FLAWED, SURFACED IN THE INDUSTRY OF THE FINANCIAL CRISIS, AND REGULATORS COULD...
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| 01:24:55 |
Bair, Sheila C. - Chair
A THIRD REVIEW OF SERVICING ERRORS RETROACTIVELY AND IDENTIFY HARMED BORROWERS AND PROVIDE APPROPRIATE REDRESS FOR THAT AND A CLIENT PROCESS. WE'RE...
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| 01:27:08 |
Walsh, John - Comptroller of the Treasury (Acting_
SIGNIFICANT WAYS AND THAT REMEDIAL ACTIONS, CEASE AND DESIST ORDERS, REMEDIATION PLANS WERE NEEDED, AND RESULT OF THAT SAMPLING WAS TO DETERMINE THAT...
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| 01:28:01 |
Waters, Maxine - U.S. Representative, [D] California
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| 01:28:28 |
Walsh, John - Comptroller of the Treasury (Acting_
|
| 01:28:41 |
Royce, Edward "Ed" - U.S. Representative, [R] California
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| 01:31:14 |
Bair, Sheila C. - Chair
|
| 01:32:23 |
Tarullo, Daniel K. - Member
|
| 01:33:37 |
Royce, Edward "Ed" - U.S. Representative, [R] California
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| 01:34:38 |
Maloney, Carolyn - U.S. Representative, [D] New York
|
| 01:35:24 |
Bair, Sheila C. - Chair
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| 01:36:05 |
Maloney, Carolyn - U.S. Representative, [D] New York
|
| 01:36:17 |
Tarullo, Daniel K. - Member
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| 01:36:41 |
Maloney, Carolyn - U.S. Representative, [D] New York
|
| 01:37:07 |
Tarullo, Daniel K. - Member
|
| 01:37:41 |
Gensler, Gary G. - Chair
|
| 01:38:34 |
Schapiro, Mary L. - Chair
|
| 01:39:19 |
Walsh, John - Comptroller of the Treasury (Acting_
|
| 01:40:04 |
Biggert, Judy - U.S. Representative, [R] Illinois
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| 01:40:24 |
Brainard, Lael - Undersecretary
|
| 01:43:24 |
Tarullo, Daniel K. - Member
|
| 01:43:55 |
Biggert, Judy - U.S. Representative, [R] Illinois
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| 01:44:17 |
Bachus, Spencer - U.S. Representative, [R] Alabama
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.