2008 Financial Crisis - Federal Reserve

  • Scott Alvarez
    • Federal Reserve - General Counsel
    • 2010 0526 - GOV - AIG Under Troubled Asset Relief Program, Panel 1
      • 2010 0526 - FRB / COP - Testimony by Scott G. Alvarez (General Counsel) - Board of Governors of the Federal Reserve System before the Congressional Oversight Panel - 14p
  • Thomas Baxter
    • Federal Reserve Bank of New York - Executive Vice President and General Counsel
    • 2010 0526 - GOV - AIG Under Troubled Asset Relief Program, Panel 1
  • Sarah Dahlgren
  • (p15) - Senator Tim JOHNSON (D-SD). The largest individual coverage bailout to date has not been of commercial banks, but an insurance company.
    • Given the critical role of insurers in enabling credit transactions and to insure against every kind of potential loss and the size and complexity of many insurance companies, do you believe that we can undertake serious market reform without establishing Federal regulation of the insurance industry.
  • Secretary Tim GEITHNER. Senator, it is an excellent question and I do believe that as a critical part of the broad reforms we are going to need to undertake to make sure a crisis like this does not happen again, an important part of that will be to reexamine the overall supervisory structure around insurance companies, and I think these proposals to have a Federal charter have a lot of merit and we will look at them very carefully.
    • Again, my personal view is that is likely to be an important part of the plan.
  • Again, one of the reasons we are here today is that large parts of our system were left outside of any meaningful oversight, oversight that provided a level of constraint commensurate with the risk those institutions faced, and we are going to have to fix that.
  • 2009 0210 - GOV (Senate) - Oversight Of The Financial Rescue Program: A New Plan For The TARP