Many of the interest groups that directly benefit from large subsidizations in the housing market continue to state that Fannie and Freddie fell victim to the bad private market participants. This suggestion is completely false. It was government housing policy, coupled with loose money from the Federal Reserve, that caused the housing bubble and those are the areas where we must focus reform. Read more »
Financial Services Capital Markets and Government Sponsored Enterprises Subcommittee Chairman Scott Garrett (R-NJ) delivered the following opening statement at today's hearing. Read more »
Financial Services Committee Chairman Spencer Bachus made the following statement today during a Full Committee hearing with Treasury Secretary Tim Geithner on the first report of the Financial Stability Oversight Council (FSOC).
"Mr. Secretary, this morning you were quoted as saying that 'the biggest risk we face is financial institutions not taking enough risk.' Secretary… Read more »
Treasury Secretary Timothy Geithner will testify before the Financial Services Committee on Thursday about efforts to implement regulatory reforms and identify emerging threats to the nation’s financial stability.
Secretary Geithner will deliver to the Committee the annual report of the Financial Stability Oversight Council (FSOC), which was established by the Dodd-Frank Act to… Read more »
Today’s American Banker includes a dead-on piece about how the Dodd-Frank Act, with its 2,300 pages and more than 400 regulations, is “regulatory overkill” with unintended consequences that hurt consumers and the economy.
“It's a fool's mission for our government to try to micro-manage our financial system — and for all the lip-service paid to balancing regulation and markets,… Read more »
Financial Services Committee Chairman Spencer Bachus today issued the following statement about the Capital Markets and Government Sponsored Enterprises Subcommittee’s hearing on small business capital formation and job creation:
"Today’s hearing continues the Committee’s ongoing efforts to promote policies that restore growth to our economy, support capital formation, and create… Read more »
Two congressional subcommittees will hold a joint hearing on Thursday to examine how the Securities and Exchange Commission (SEC) handled potential conflicts of interest involving David Becker, a former SEC general counsel who financially benefited from the Madoff Ponzi scheme.
The joint hearing will be held by the Financial Services Committee’s Oversight and Investigations… Read more »
Five bills that would make it easier for small companies to raise money and create jobs will be on the agenda Wednesday during a hearing of the Capital Markets and Government Sponsored Enterprises Subcommittee.
Raising capital is necessary for companies to create jobs, and the Financial Services Committee has
focused its attention on promoting capital formation since the beginning of the… Read more »
The Capital Markets and Government Sponsored Enterprises Subcommittee, chaired by Rep. Scott Garrett, will convene for a hearing to evaluate the need for a new standard of care for broker-dealers and a legislative proposal aimed at improving the oversight of investment advisers.
Section 913 of the Dodd-Frank Act authorized but did not require the Securities and Exchange… Read more »
