Politics

Congressional Oversight Panel Hearing on Regulatory Reform

By Karina

This morning, the Congressional Oversight Panel is holding hearing on regulatory reform of the financial sector in preparation for a congressionally mandated report they will issue on current regulations and how the existing regulatory structure contributed to the ongoing financial and mortgage crises to determine what, if any, reforms are needed.

From the Congressional Oversight Panel:

The Panel will hear testimony from experts representing a wide variety of backgrounds, areas of expertise, and political affiliations.

The following witnesses are scheduled to testify at the hearing:

Joseph E. Stiglitz, Ph.D., Nobel Laureate and University Professor at Columbia Business School

Robert Schiller, Economist at Yale University

Gene L. Dodaro, Acting Comptroller General of the United States, Government Accountability Office

Joel Seligman, President of the University of Rochester

Peter J. Wallison, Fellow at the American Enterprise Institute

Marc Summerlin, Managing Director and Co-Founder at the Lindsey Group

Sarah Bloom Raskin, Commissioner of the Maryland Office of Financial Regulation

The Panel is required by law to produce a special report for Congress on regulatory reform ?analyzing the current state of the regulatory system and its effectiveness at overseeing the participants in the financial system and protecting consumers, and providing recommendations for improvement.? The statute specifically mandates that the Panel examine whether ?participants in the financial markets that are currently outside the regulatory system should become subject to the regulatory system?and whether there are any gaps in existing consumer protections.?

Watch the hearing live via webcast>>

Read prepared testimony>>

Full post as published by The Gavel on January 14, 2009 (boomark / email).