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Upcoming House Committee Hearings
October 7, 2008
Following the passage of the Emergency Economic Stabilization Act of 2008 on October 3rd, Congress has ramped up its oversight of federal regulation and agencies, as well as its investigation into the causes of the current financial crisis. Congress is undoubtedly under significant pressure to show the public that it is "on the case," so to speak, and the multitude of upcoming hearings illustrates this point. Upcoming scheduled hearings are listed below.
Oversight and Government Reform Committee
- Tuesday, October 7, 2008: An examination of the regulatory mistakes and financial excesses that led to the government bailout of AIG. Witnesses include former AIG CEOs Robert B. Willumstad, Martin J. Sullivan, and Maurice R. Greenberg.
- Thursday, October 16, 2008: A hearing on the role of hedge funds in the financial markets, and their regulatory and tax status with the five managers who were paid over $1 billion last year.
- Wednesday, October 22, 2008: A hearing regarding the role of the credit rating agencies in the financial excesses on Wall Street. CEOs of the nation’s three largest credit rating agencies have been invited to testify.
- Thursday, October 23, 2008: A hearing on the role and responsibility of federal regulators in the Wall Street financial crisis, with former Federal Reserve Chairman Alan Greenspan, SEC Chairman Christopher Cox, and former Treasury Secretary John Snow invited to testify.
Financial Services Committee
- The Financial Services Committee will continue to examine and hold a series of hearings in the next Congress on comprehensive regulatory restructuring, an essential element in addressing one of the root causes of the current financial crisis.
- Tuesday, October 14, 2008: A hearing on the financial markets and the growing use of unregulated swaps that contributed to the downfall of AIG and Bear Stearns.
Education & Labor Committee
- Tuesday, October 7, 2008: A hearing to examine how the current financial crisis is impacting Americans’ retirement security.