Government Hearings - 2009

  • 2009 0121 - GOV - Financial Regulation: Where Were the Watchdogs? The Financial Crisis and the Breakdown of Financial Governance
    • [PDF-477p
    • Senate - COMMITTEE ON HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS 

S. Hrg. 111-297 - Establishing a Framework for Systemic Risk Regulation

General. Thursday, July 23, 2009.

  • 2009 0210 - GOV - Extraordinary Efforts by the Federal Reserve Bank to Provide Liquidity in Current Financial Crisis
  • 2009 0305 - GOV - Perspectives on Systemic Risk
    • [PDF-254p, VIDEO-youtube-Part 1of 2 - Bad Copies] - <mp3, mp4> - R
    • Clip - Bean/ Vaughan - Solvency, did AIG need the money?
    • House - COMMITTEE ON FINANCIAL SERVICES -SUBCOMMITTEE ON CAPITAL MARKETS,
      INSURANCE, AND GOVERNMENT SPONSORED ENTERPRISES
  • 2009 0305 - GOV - AMERICAN INTERNATIONAL GROUP: EXAMINING WHAT WENT WRONG, GOVERNMENT INTERVENTION, AND IMPLICATIONS FOR FUTURE
    REGULATION
    - aka Government Intervention and Regulation of AIG

  • 2009 0312 - GOV - MARK-TO-MARKET ACCOUNTING: PRACTICES AND IMPLICATIONS
    • [PDF-420p. VIDEO-CSPAN]
    • ACLI Letter (p308-309)
    • ABA Letter (p310-
    • House - COMMITTEE ON FINANCIAL SERVICES SUBCOMMITTEE ON CAPITAL MARKETS, INSURANCE, AND GOVERNMENT SPONSORED ENTERPRISES
  • 2009 0317 - GOV - Perspectives on Modernizing Insurance Regulation
    • [PDF-160p, Video-Senate-Error] - <mp3, mp4> - R-yes
    • J. Robert Hunter - Reserve Relief, Guaranty Funds
    • Senate - COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS
      • [PDF - 380p Full Video Made?] - <mp3, mp4> - R
      • Edward Libby testified about operations and business practices at American International Group (AIG) before, during, and after federal intervention.
        • 2:15:28 - Carolyn Maloney:  bad regulatory decision?
        • - Liddy: yes
        • all life insurance companies would have been in trouble... asset prices....capital markets
    • House - COMMITTEE ON FINANCIAL SERVICES -SUBCOMMITTEE ON CAPITAL MARKETS, INSURANCE, AND GOVERNMENT SPONSORED ENTERPRISES
  • 2009 0318 - Federal Aid to AIG Insurance, Regulators Panel
    • Video-CSPAN
    • OTS, Joel Ario (Insurance Commissioner), S&P Ratings Org-Rodney Clark (Reputational Risk - Insurance Subsidiaries)
  • 2009 0318 - Federal Aid to AIG Insurance - Regulators Panel Continuation
  • 2009 0319 - TROUBLED ASSET RELIEF PROGRAM
  • 2009 0324 - OVERSIGHT OF THE FEDERAL GOVERNMENT'S INTERVENTION AT AMERICAN INTERNATIONAL GROUP
  • 2009 0325 - GOV - Roles and Responsibilities of Inspectors General in Financial Markets Regulatory Agencies
  • 2009 0402 - GOV - THE COLLAPSE AND FEDERAL RESCUE OF AIG AND WHAT IT MEANS FOR THE U.S.
    • [PDF-87, VIDEO-CSPAN] / Video-youtube - <mp3, mp4
    • Hank Greenberg - Former AIG - Snippet
    • House - COMMITTEE ON OVERSIGHT AND GOVERNMENT REFORM
  • 2009 0506 - GOV - Regulation and Resolving Institutions Considered "Too Big to Fail"
  • AIG Collapse and Rescue, Liddy Testimony
    •  [VIDEO-CSPAN] - <mp3, mp4
    • 2:38:50-END
    • 2:40 - Carolyn Maloney:  problem with life insurance? Federal Reserve Funds used for AIG Life Insurance Division?
    • Liddy:  Yes, Regulated and Solvent, Created a hole.  Plugged the Hole with Federal Reserve Funds.  18-20 Billion
  • 2009 0514 - GOV - How Should the Federal Government Oversee Insurance?
    •  [PDF-194p,  Video-(Part 2 of 2)-youtube-Bad Copies) - <mp3, mp4> - R
    • Baird Webel, J. Robert Hunter,
    • 3:30 -  Baird Webel - What is Systemic Risk? So is an Asteroid a financial Risk?  What does a Systemic Risk Regulator have to do about this?  <Bonk:  Atomic Bomb 1950's Newspaper Article>.  Who would represent the Insurance Industry on a systemic risk panel?
    • House - COMMITTEE ON FINANCIAL SERVICES SUBCOMMITTEE ON CAPITAL MARKETS, INSURANCE, AND GOVERNMENT SPONSORED ENTERPRISES
  • Insurance and Systemic Risk
    • [PDF-181p, VIDEO-C-SPAN] - <mp3, mp4> - M
    • approx. 21:00 - Melissa Bean - AIG's Problems weren't just in the Financial Products area, also was in the Securities Lending Department, Activities, products, 
    • approx. 29:00 - European Union - Peter Skinner
    • 1:26 - Patrick Baird (ACLI) 
    • 1:27 -  Michael Mcraith (NAIC) 
    • 1:27:30 - Michael Capuano (D-MA) 
    • Testimony - Michael T. McRaith - Systemic Risk and Insurance -16p
  • 2009 0624 - GOV - Regulatory Restructuring: Enhancing Consumer Financial Products Regulation
    • [PDF-286p, Video-No Video?] - <mp3, mp4> - R
    • Gary Hughes (ACLI), NAIC, Elizabeth Warren (Professor)
    • House - Committee on Financial Services
  • 2009 0924 - Systemic Risk and Resolution Issues / EXPERTS’ PERSPECTIVES ON SYSTEMIC RISK AND RESOLUTION ISSUES 
    •  [PDF-128p, VIDEO-CSPAN] - <mp3, mp4
    • Paul Volcker - ".....insurance companies, which I would say parenthetically I hope better regulatory systems will be developed, maybe not as part of this legislation but next year."  (p7)
    • Paul Volcker - "I would hope this committee
      would look at the question of national charters for insurance companies and bring them under—at least the big ones—under a framework so that something like AIG with similar problems can’t arise in the future."  (p19)
    • Mr. PERLMUTTER. How do we resolve insurance companies? Do you know? We liquidate them through the insurance commissioner.  (p49)
  • 2009 1028 - GOV - EXECUTIVE COMPENSATION: HOW MUCH IS TOO MUCH? - aka Executive Pay and TARP-Funded Companies
    • [PDF-271p, VIDEO-CSPAN]
    • William K. Black
    • House - COMMITTEE ON OVERSIGHT AND GOVERNMENT REFORM

SYSTEMIC REGULATION, PRUDENTIAL MATTERS, RESOLUTION AUTHORITY, AND SECURITIZATION

  • 2009 1029 - Financial Industry Regulations, Business Interests
    •  [PDF-392p, VIDEO-CSPAN]
    • Systemic risk - SIFI-
    • 23:00 - MetLIfe - Activities based risk vs Size Risk. Example LTCM was not large <Bonk: Executive Life>
  • 2009 1029 - Secretary Geithner on Financial Industry Regulations

  • 2009 1202 - GOV - UNREGULATED MARKETS: HOW REGULATORY REFORM WILL SHINE A LIGHT IN THE FINANCIAL SECTOR
    • [PDF-83p, Video-Can't Find-No Video Made?] - <mp3, mp4> - R
    • JOINT ECONOMIC COMMITTEE - CONGRESS OF THE UNITED STATES