Government Hearings - 2018

  • 2018 0307 - "Legislative Review of H.R. 5059..." - 1:48:00

    • [PDF-p, VIDEO-youtube] - <mp3, mp4>
    • Chair - Duffy - State Insurance Regulation Preservation Act.  Rothfus, 
    • Ross (FL) v Schwarcz
    • 27:00 - Ross - Dodd-Frank, State Based Regulation
    • 43:45 - Schwarcz - Opening 5 minutes
      • Insurance Savings and Loan Holding Company, arbitrage, less stringently regulated, creates new, Dodd-Frank, -Primary reason AIG failed was the failure of the OTS to perform group level oversight.  States haven't done group supervision...maybe until 2008.
    • 58:15 - to Duffy. More important point. Intent of bill vs effect of the bill.  savings and loan holding company - definition (p2).  Example: JP Morgan.  ...there's a problem, but this isn't the solution.
    • 1:04:30 - Ross v Schwarcz
      • Schwarcz: yeah, okay, great. 
      • Ross: Are you demeaning the State Regulators?
    • 1:28 - 2 different business models - Banking and Insurance - Congressman Luetkemeyer (MO)
    • 1:34 - Schwarcz - I wouldn't forget about the Securities Lending
    • 1:48 - Schwarcz / McCarther - SIFI's, Feds role, before 2008 Savings and Loans holdings companies had a federal regulator.  OCC. Costs and Benefits.