Government Hearings - 2008

Risk Management and Its Implications for Systemic Risk: Hearing Before the Subcommittee on Securities and Insurance and Investment of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Tenth Congress, Second Session, on Risk Management and Its Implications for Systemic Risk, Thursday, June 19, 2008
United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment

Transparency in Accounting: Proposed Changes to Accounting for Off-balance-sheet Entities : Hearing Before the Subcommittee on Securities, Insurance, and Investment of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Tenth Congress, Second Session ... Thursday, September 18, 2008
United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment

  • 2008 0214 - S - The State of the United States Economy and Financial Markets, CSPAN - US Economic Outlook, Christopher Dodd (D-CT)
    • [118p,  VIDEO-CSPAN]
    • Bernanke, Cox, Paulson
    • House - Committee on Banking, Housing, and Urban Affairs
  • 2008 0214 - GOV (House) - The State of the Bond Insurance Industry, Paul Kanjorski (D-PA)  ---  [BonkNote]
    • [PDF-473p] 
    • VIDEO - Part 1 - archive.org
    • VIDEO - Part 2 - archive.org
    • archives-financialservices.house.gov/hearing110/ht021408.shtml
    • Testimony
      • Paul Kanjorski - (D-PA)
      • Eric Dinallo - NYSID
      • Spitzer - New York Governor
      • Ackman, William A., Managing Member, Pershing Square Capital Management, L.P. ............................................................................................................. 55
        Buckley, Keith M., Group Managing Director and Global Head of Insurance,
        Fitch Ratings ........................................................................................................ 58
        Callen, Michael, Chairman and Chief Executive Officer, Ambac Financial
        Group .................................................................................................................... 63
        Chaplin, Charles, Chief Financial Officer, MBIA Inc. .......................................... 65
        Dinallo, Eric R., Superintendent, New York State Insurance Department ........ 34
        Larkin, Richard P., Senior Vice President, Herbert J. Sims & Co., Inc. ............ 61
        Leighton, Hon. Thomas M., Mayor, Wilkes-Barre, Pennsylvania ....................... 42
        Parkinson, Patrick M., Deputy Director, Division of Research and Statistics,
        Board of Governors of the Federal Reserve System .......................................... 40
        Sirri, Erik R., Director, Division of Trading and Markets, U.S. Securities
        and Exchange Commission .................................................................................. 38
        Spitzer, Hon. Eliot, Governor, State of New York ................................................ 6
  • 2008 0416 - GOV (House) - Examining Proposals on Insurance Regulatory Reform
  • 2008 0605 - GOV (Senate) - CSPAN - State of the Banking Industry
    • [PDF-? - VIDEO-CSPAN]
    • Senate - Committee on Banking, Housing, and Urban Affairs
  • 2008 0610 - GOV (House) - H.R. 5840, The Insurance Information Act of 2008, Paul Kanjorski (D-PA)  ---  [BonkNote]
    • [PDF-129p, VIDEO-?] - R
    • Kanjorski, McRaith, Rahn, Stephen E., Vice President and Associate General Counsel, Lincoln Financial Group, on behalf of the American Council of Life Insurers (ACLI)
    • AAA - American Academy of Actuaries - 2008 0729 - 2p
    • AIA - 2008 0610 - 7p
    • NCOIL - (p14) - Brian P. Kennedy, Representative, Rhode Island House of Representatives, and President, National Conference of Insurance Legislator - 2008 0611 - 2p
    • DOTT - Treasury - 2008 0610 - 3p
    • House - Committee on Financial Services - Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
  • 2008 0709 - GOV (Senate) - Reducing Risks and Improving Oversight in the OTC Credit Derivatives Market, Jack Reed (D-RI)
    • [PDF-171p,  VIDEO-?]
    • Senate - Committee On Banking, Housing, And Urban Affairs  - Subcommittee on Securities and Insurance and Investment 
  • 2008 0710 - GOV (House) - Systemic Risk and the Financial Markets, (CSPAN) Transformation of Financial Markets, Barney Frank (D-MA)  ---  [BonkNote]
    • [PDF-86p, VIDEO-CSPAN] - <mp3, mp4>
    • Paulson, Bernanke
    • 1:15:00 - Royce (CA) - Runs
    • 1:17:30 - Paulson - need resolutions authority like FDIC
    • House - Committee on Financial Services 
  • 2008 0923 - GOV (Senate) - Turmoil in U.S. Credit Markets: Recent Actions Regarding Government-Sponsored Entities, Investment Banks and Other Financial Institutions, aka U.S. Credit Markets and Federal Rescue Plan
    • [PDF-138p, VIDEO-CSPAN] - <mp3, mp4>
    • Senate - Committee on Banking, Housing and Urban Affairs
  • 2008 0924 - GOV (House) - The Future of Financial Services: Exploring Solutions for the Market Crisis
    • [PDF-93p, VIDEO-?]
    • House - Committee on Financial Services
  • 2008 1006 - GOV (House) - The Causes and Effects of the Lehman Brothers Bankruptcy, aka Financial Market Regulation and Practices Panel 1
    • [PDF-255p, VIDEO-CSPAN] - <mp3, mp4>
    • Nell Minow - Co-Founder and Editor, Corporate Library - I told you so
    • colorado pension
    • 00:24:25 - Luigi Zingales - Professor - University of Chicago - Graduate School of Business
      • These managers were also hoping that if a shock occurred, all their competitors would face the same problem, thereby reducing their (reputational?) costs and possibly triggering a government support.
        • The September 19 decision to ensure all money market funds validated this gamble, forever destroying money market managers' incentives to be careful in regarding to the risks they take.
    • House - Committee on Oversight and Government Reform
  • 2008 1006 - GOV (House) - The Causes and Effects of the Lehman Brothers Bankruptcy, aka Financial Market Regulation and Practices - Panel 2
    • [PDF-255p, VIDEO-CSPAN] - <mp3, mp4>
    • Dick Fuld- Lehman Brothers
    • House - Committee on Oversight and Government Reform
  • GOV (House-OGR) - The Causes and Effects of the AIG Bailout- AIG Bailout Oversight Hearing, Henry Waxman, (D-CA)  ---  [BonkNote]
    • Panel 1
      • [PDF-171p, VIDEO-CSPAN-Panel 1] - <mp3, mp4>
      • NAIC - Dinallo (NYSID) - Testimony - 8p
      • Lynn E. Turner - former Chief Accountant, Securities and Exchange Commission
    • Panel 2
    • House - Committee on Oversight and Government Reform
  • 2008 1014 - GOV (Senate) - The Role of Financial Derivatives in the Current Financial Crisis, aka Hearing to Review the Role of Credit Derivatives in the U.S. Economy
    • [PDF-135p, VIDEO-CSPAN] - <mp3, mp4> 
    • Senate - Committee on Agriculture, Nutrition, and Forestry
    • Tom Harkin (IA), Eric Dinallo (NYSID)
    • Testimony Dinallo Before the Senate Ag Committee_1.pdf - 8p
    • 3:43:00 - Chairman Senator Tom Harkin (D-IA) 
      • (p65) - But I think that for some reason, that concerns me, that we are just developing these instruments, as I mentioned, the collateralized debt obligations, the collateralized mortgage obligations, the credit default swaps, all these things going back, even back when Fannie Mae started those things back in 1983.
        • And I am not certain, I am not convinced that there was a demand out there for these.
        • It is just people got together and said, we have got a new product here.
        • We can market it and we can make money on it.
        • And they kind of took on a life of their own.
  • 2008 1021 - GOV (House) - Regulatory Restructuring and Reform of the Financial System, aka Financial Markets Oversight and Regulation
    • [PDF-270p, VIDEO-CSPAN] - <mp3, mp4> - R 
    • Joel Seligman, Joseph Stiglitz,
    • CFMA
    • Edward L. Yingling, President and CEO American Bankers Association - Need for Systemic Regulator
    • 4:31:30 - Credit Default Swaps - Bachus, Frank -"life Insurance on Vampires" - <Tipping Point>
    • Joe Donnelly, Indiana - Corporate Governance, Sense of Responsibility
    • 4:51:30 - Barney Frank, Mortgages, Federal Reserve, Greenspan - History
    • House - Committe on Financial Services