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News Now

Washington
House Financial Services sets second financial markets hearing
WASHINGTON (7/21/08)--New York Federal Reserve President Timothy Geithner and Securities and Exchange Commission Chairman Christopher Cox will testify Thursday at a second in a series of hearings on policy implications of the transformation of domestic and international financial markets. House Financial Services Chairman Barney Frank (D-Mass.) announced in June that his panel would conduct a number of investigative sessions—starting in July and running into the Fall. The hearings will to examine the ability of the regulatory structure to assess and mitigate systemic risk, especially in light of the collapse of Bear Stearns, in order to avoid a similar or more serious crisis in the future, according to a committee release. Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke appeared at the first of this series of hearings on July 10. The committee has announced that it plans to invite other federal regulators, academics, economists and market participants to present views at subsequent hearings.


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