Subcommittee on Capital Markets

The Obama administration's approval of $34.4 million for six top officials, with little or no market guidance, is raising new questions about the inner workings of the failing mortgage giants. John Solomon and Julie Vorman, of the Center for Public Integrity's iWatch News, report. Read more »

The Financial Services Committee, chaired by Rep. Spencer Bachus, approved legislation today to give regulators additional time to write and review the rules governing derivatives.  H.R. 1573, approved by a vote of 30 to 24, addresses concerns raised by both Republicans and Democrats that the proposed Dodd-Frank rules governing derivatives could put U.S. firms at a competitive… Read more »

Financial Services Committee Chairman Spencer Bachus made the following statement today during consideration of H.R. 1573, legislation to restore order to the Dodd-Frank derivatives rulemaking process, promote regulatory coordination, and ensure the U.S. economy is not placed at a competitive disadvantage with other countries   “The Committee meets this morning to markup important… Read more »

Capital Markets and Government Sponsored Enterprises Subcommittee Chairman Scott Garrett announced today the Subcommittee will convene for a hearing entitled “Transparency, Transition and Taxpayer Protection: More Steps to End the GSE Bailout” on Wednesday, May 25th at 2 p.m. in room 2128 Rayburn. The hearing continues the Financial Services Committee’s ongoing effort to end the… Read more »

In recent interviews two Democrat officials warned about some of the unintended consequences of the Dodd-Frank Act. These quotes are of particular interest as the Financial Services Committee will consider common-sense legislation next week to promote a functioning derivatives market by giving regulators more time to write the rules and ensure coordination among regulators. H.R. 1573… Read more »

POLITICO’s “Morning Money” reports today that members of NY’s congressional delegation, including several Democrats on the Financial Services Committee, have written regulators to express their concerns that proposed rules governing derivative margin requirements “will inevitably result in significant competitive disadvantages for U.S. firms operating globally.”  Could it be possible… Read more »

Financial Services Committee Chairman Spencer Bachus announced the Committee’s planned schedule for the weeks of May 23 and May 30. The schedule shows the Committee will continue focusing on policies that encourage economic growth and job creation.   “Promoting policies that will strengthen our economy and create jobs remains our Committee’s top priority,” said Chairman… Read more »

WASHINGTON:  Financial Services Committee Chairman Spencer Bachus welcomed Rep. Stephen Fincher (TN) to the Committee today. During the Full Committee mark up, Chairman Bachus offered a resolution appointing Rep. Fincher to the Financial Institutions and Consumer Credit Subcommittee, and the Oversight and Investigations Subcommittee.  Rep. Fincher is filling the vacancy left by… Read more »

Claim: During a May 10 appearance on MSNBC, Ranking Member Barney Frank said, “We will be voting this week in the Committee on Financial Services on a Republican bill, believe it or not, which would make it impossible to deal with speculation in the oil industry.”   FACT: Don’t believe it because this allegation is simply untrue.  The Commodity Futures Trading Commission… Read more »

  WASHINGTON:  As the nation’s economy continues to struggle, the Capital Markets and Government Sponsored Enterprises Subcommittee approved bills on Wednesday that will promote job creation, economic growth and capital formation. The bills now move to the full Financial Services Committee for consideration.   Subcommittee Chairman Scott Garrett said, “The subcommittee… Read more »