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.