financialservices.house.gov

Cmte Financial Services (R)

WASHINGTON, December 17, 2008 -

Congressman Spencer Bachus, Ranking Member of the House Financial Services Committee, urged Chairman Barney Frank in a letter today to convene hearings on the role and growth of derivatives, including credit default swaps, in the capital markets.

Ranking Member Bachus stated that, “The Committee on Financial Services is well-positioned to oversee the development of sensible regulation of credit default swaps that recognizes the systemic risk posed by these instruments but also preserves their beneficial uses as a risk management tool for individual firms.”

Click here to see a copy of the letter.

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