Government Hearings - 2011

The State of Securitization Markets: Hearing Before the Subcommittee on Securities, Insurance, and Investment of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, First Session, on Examining the State of Securitization Markets, May 18, 2011
United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment

Are There Government Barriers to the Housing Market Recovery?: Hearing Before the Subcommittee on Insurance, Housing, and Community Opportunity of the Committee on Financial Services, U.S. House of Representatives, One Hundred Twelfth Congress, First Session, February 16, 2011
United States. Congress. House. Committee on Financial Services. Subcommittee on Insurance, Housing, and Community Opportunity

Legislative Proposals to End Taxpayer Funding for Ineffective Foreclosure Mitigation Programs: Hearing Before the Subcommittee on Insurance, Housing, and Community Opportunity of the Committee on Financial Services, U.S. House of Representatives, One Hundred Twelfth Congress, First Session, March 2, 2011
United States. Congress. House. Committee on Financial Services. Subcommittee on Insurance, Housing, and Community Opportunity

Financial Services and Products: The Role of the Federal Trade Commission in Protecting Consumers, Part 2
United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on Consumer Protection, Product Safety, and Insurance

The Role of the Accounting Profession in Preventing Another Financial Crisis: Hearing Before the Subcommittee on Securities, Insurance, and Investment of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, First Session, on Examining the Role of the Accounting Profession in Preventing Another Financial Crisis, April 6, 2011
United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment

Management and Structural Reforms at the Securities and Exchange Commission: A Progress Report : Hearing Before the Subcommittee on Securities, Insurance, and Investment of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, First Session ... November 16, 2011
United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment

Market Microstructure: Examination of Exchange-traded Funds (ETFs) : Hearing Before the Subcommittee on Securities, Insurance, and Investment of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, First Session, on Examining Exchange-traded Funds (ETFs), October 19, 2011
United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment

Emergence of Swap Execution Facilities: A Progress Report : Hearing Before the Subcommittee on Securities, Insurance, and Investment of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, First Session, on a Progress Report on the Emergence of Swap Execution Facilities, June 29, 2011
United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment

Legislative Proposals to Determine the Future Role of FHA, RHS, and GNMA in the Single- and Multi-family Mortgage Markets: Hearing Before the Subcommittee on Insurance, Housing, and Community Opportunity of the Committee on Financial Services, U.S. House of Representatives, One Hundred Twelfth Congress, First Session, Part 1
United States. Congress. House. Committee on Financial Services. Subcommittee on Insurance, Housing, and Community Opportunity

  • 2011 0127 - GOV (House) - Markup of H.R. 2609, Federal Insurance Office Act of 2009 and the Financial Stability Improvement Act of 2009
  • 2011 0127 - GOV - Financial Crisis Inquiry Commission Final Report
  • 2011 0209 - GOV (House) - State and Municipal Debt: The Coming Crisis?, Patrick T. McHenry (R-NC)
    • [PDF-92p, VIDEO-YouTube]
    • House - Oversight and Government Reform Committee - Subcommittee on Tarp, Financial Services and Bailouts of Public and Private Programs
  • 2011 0211 - GOV (House) - Emerging trends at the National Labor Relations Board, Phil Roe (R-TN)
    • [PDF-xp-GooglePlay, VIDEO-?]
    • House - Committee on Education and the Workforce - Subcommittee on Health, Employment, Labor and Pensions
    • 3\ See NLRB v. Insur. Agents' Int'l Union, 361 U.S. 477, 489 (1960), where the Supreme Court referred to the bargaining contemplated by the Act, and observed that the parties ``proceed from contrary and to an extent antagonistic viewpoints and concepts of self-interest. * * * The presence of economic weapons in reserve, and their actual exercise on occasion by the parties, is part and parcel of the system that the Wagner and Taft-Hartley Acts have recognized.''
  • 2011 0215 - GOV (House) - Assessing the Regulatory, Economic, and Market Implications of the Dodd-Frank Derivatives Title, (CSPAN) Financial Regulations Law and Derivatives
  • 2011 0216 - GOV (House) - The Final Report of the Financial Crisis Inquiry Commission
    • [PDF-147p, VIDEO-CSPAN] <Bonk - mp3, mp4>
    • Carolyn ny lack of knowledge-everybody
    • Committee on Financial Services
  • 2011 0316 - GOV (Senate) - Securities Lending in Retirement Plans: Why the Banks Win, Even when You Lose
    • [PDF-191p, VIDEO-?]
    • Senate - Health, Education, Labor, and Pensions Committee - Special Committee on Aging
  • 2011 0317 - GOV (Senate) - CSPAN - Troubled Asset Relief Program Oversight
  • 2011 0330 - GOV (House) - Has Dodd-Frank Ended Too Big To Fail?
    • [PDF-103p, VIDEO-Part 1 and Part 2] <Bonk - mp3, mp4>
    • Ross, Massad
    • House - Committee on Oversight and Government Reform - Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs 
  • 2011 0406 - GOV (Senate) - The Role of the Accounting Profession in Preventing Another Financial Crisis
    • [PDF-260p, VIDEO-?] - <Bonk: mp3, mp4] - R
    • Senate - Committee on Banking, Housing and Urban Affairs - Subcommittee on Securities, Insurance, and Investment
  • 2011 0406 - GOV (House) - Legislative Proposals to Improve the Structure of the Consumer Financial Protection Bureau, aka Consumer Financial Protection Bureau, Panel 1
    • [PDF-147p, VIDEO-CSPAN] - <Bonk: mp3, mp4]
    • House - Committee on Financial Services - Subcommittee on Financial Institutions and Consumer Credit
  • 2011 0406 - GOV (House) - Legislative Proposals to Improve the Structure of the Consumer Financial Protection Bureau, aka Consumer Financial Protection Bureau, Panel 2
    • [PDF-147p, VIDEO-CSPAN] - <Bonk: mp3, mp4]
    • House - Committee on Financial Services - Subcommittee on Financial Institutions and Consumer Credit
  • 2011 0412 - GOV (Senate) - Building the New Derivatives Regulatory Framework: Oversight of Title VII of the Dodd–Frank Act, aka Financial Regulations Law and Derivatives
    • [PDF-123p, VIDEO-CSPAN] - <Bonk: mp3, mp4] 
    • Gensler, Mary Schapiro, Tarullo, Jack Reed, Shelby, Sherrod Brown
    • Senate - Committee on Banking, Housing and Urban Affairs
  • 2011 0414 - GOV (House) - State and Municipal Debt: Tough Choices Ahead, Darrell Issa (R-CA) 
    • [PDF-161p,
    • [VIDEO-CSPAN] - State and Municipal Government Debt, Governors Panel
      • (p35) - Jason CHAFFETZ (R-UT) - But the healthy over the course of time—if somebody told me they thought they were going to get an 8 to 8 1/2 percent return, I said they are probably smoking those maple leaves.
        I can’t imagine that you are getting 8 to 8 1/2 percent return on that investment. Nobody is getting that kind of return right now.
      • Governor Peter SHUMLIN (D-VT) If you look at the averages for State pensions across the history of defined benefit plans, you will find that we get about an 8 percent return, on average. And obviously there are
        good years and bad years, but unlike General Motors, since we are not going bankrupt, you have to look at the averages, and that is what we have gotten. That is why Wall Street, when you——
      • Mr. CHAFFETZ. But do you think you are going to get that going forward?
      • ...
      • Governor SHUMLIN. We do. And that is why Moody’s and the other bonding agencies allow us to assume that rate of return on our investments.
        • We are not sort of making this up as Governors; that is what Wall Street requires us to do. It is based on history.
    • [VIDEO-CSPAN] - State and Municipal Debt, Academic Panel
    • House - Committee on Oversight and Reform
  •  
  • 2011 0414 - GOV (House) - Oversight of the Financial Stability Oversight Council
    • [PDF-156p, VIDEO-?] - <Bonk: mp3, mp4] - R
    • Testimony - John Huff (NAIC) - 9p
    • House - Committee on Financial Services
    • House Page - VIDEO-?-Link not working
  • 2011 0510 - GOV (Senate) - Reviewing the Financial Crisis Inquiry Commission's Final Report
    • [PDF-88p, VIDEO-Senate]  - <Bonk: mp3, mp4] - R/T
    • Senate - Committee on Banking, Housing and Urban Affairs
  • 2011 0511 - GOV (House) - Unfunded Mandates, Regulatory Burdens and the Role of the Office of Information and Regulatory Affairs
    • [PDF-45p, VIDEO-?]
    • House - Committee on Oversight and Government Reform - Subcommittee on Technology, Information Policy, Intergovernmental Relations and Procurement Reform
  • 2011 0512 - GOV (Senate) - Oversight of Dodd-Frank Implementation: Monitoring Systemic Risk and Promoting Financial Stability, Tim Johnson (D-SD)  
    • [PDF-141, VIDEO-CSPAN]
    • FSOC, Shadow Banking, SIFI, orderly liquidation authority, 
    • (p3) - Neal S. Wolin, Deputy Secretary, Department of the Treasury
      • Dodd-Frank creates, and the Treasury is standing up, the Consumer Financial Protection Bureau, which is working to protect consumers, making sure they have the information they need to understand the terms of financial products.
      • Treasury is also working to enhance our ability to monitor the insurance sector through the Federal Insurance Office, which, for the first time provides the U.S. Government dedicated expertise regarding the insurance industry. 
    • (p15) - Sherrod Brown (D-OH) - It is impossible to know whether heavily regulated Main Street property and casualty insurers would be systemically important.
      • And my question, Mr. Secretary, is do you believe that mutual companies engaging in personal lines of insurance, do you think they pose a threat to the financial stability of our economy? Should they be categorized as systemically important?
    • (p34) - Prepared Statement of Senator Richard C. Shelby
      • (p41) - In addition to providing for new regulatory protections and oversight for consumers, the Dodd-Frank Act enhances the Federal Government’s ability to monitor the insurance sector and coordinate and develop Federal policy on major domestic and international insurance issues.
        • The crisis highlighted the lack of expertise with-in our Federal Government regarding the insurance industry. In response, the Act establishes the Federal Insurance Office (the ‘‘FIO’’), which will provide the U.S.
          Government —for the first time—dedicated expertise regarding the insurance industry.
      • (p42) - The FIO will monitor for problems or gaps in insurance regulation that can contribute to a systemic crisis in the insurance industry or the financial system; gather data and information on the industry and insurers; and coordinate Federal policy in the insurance sector
      • (p42) - Treasury also recently announced that the Department will establish a Federal Advisory Committee on Insurance. [FACI]
        • The objective of the Committee is to present advice and recommendations to the FIO to assist the Office in carrying out its duties and authorities.
        • The Advisory Committee will reserve half of its membership for the State insurance commissioners so that the FIO will benefit from the knowledge and regulatory experience of our functional regulators.
          • The remaining members will represent a diverse set of expert perspectives from the various sectors of the insurance industry (life, property and casualty, reinsurance, agents and brokers), as well as academics, consumer advocates, or experts in the issues facing underserved insurance communities and consumers. 
        • (p42) - The Federal Insurance Office has become a provision member of the International Association of Insurance Supervisors (IAIS), where it will represent the United States, and it is expected to be voted-in as a full member in the fall.
          • The FIO is also leading the U.S. delegation for the insurance and pensions committee of the Organization for Economic Co-operation and Development.
          • The Secretary of the Treasury, supported by the FIO, together with the United States Trade Representative, is now empowered to negotiate certain international agreements regarding prudential insurance measures.
          • We anticipate that the FIO will be actively involved, for example, in working with the representatives of other countries on reinsurance collateral and U.S. equivalence under Solvency II. 
    • Senate - Banking, Housing and Urban Affairs
  • 2011 0601 - GOV (House) - Federal Reserve Lending Disclosure: FOIA, Dodd-Frank, And The Data Dump, Ron Paul (L-TX)
    • [PDF-86p , VIDEO-CSPAN]
    • House - Committee on Financial Services - Subcommittee on Domestic Monetary Policy and Technology
  • 2011 0712 - GOV (Senate-Banking) - Enhanced Investor Protection After The Financial Crisis, Tim Johnson (D-SD)  ---  [BonkNote]
  • 2011 0726 - GOV (House) - Redefining 'Fiduciary: Assessing The Impact Of The Labor Department's Proposal On Workers And Retirees - David P. Roe / Phil Roe (R-TN)
  • 2011 0728 and 1025 - GOV (House) - Insurance Oversight: Policy Implications for U.S. Consumers, Businesses and Jobs - Part 1 (2011 0728), Part 2 (2011 1025), Judy Biggert (R-IL)
    • [PDF-285p, VIDEO-?] - <mp3, mp4] - R
    • Part 1 -  2011 0728 - John Huff, Birny Birnbaum, Gary Hughes, Susan Voss
    • NAIC - John Huff - Insurance Commissioner, MO - 7p
    • financialservices.house.gov///EventID=401933 - [Bad Link]
    • House - Committee on Financial Services -Subcommittee on Insurance, Housing and Community Opportunity
  • 2011 0914 - GOV (Senate) - Emerging Issues in Insurance Regulation, Jack Reed (D-RI)  ---  [BonkNote] 
    • [PDF-51p. VIDEO-Senate] - [mp3, mp4] - T
    • CRS - Baird Webel, Specialist in Financial Economics, Congressional Research Service - 14p
    • NAIC - Therese M. Vaughan, Chief Executive Officer, National Association of Insurance Commissioners
    • Academic - Mary A. Weiss, Deaver Professor of Risk, Insurance, and Healthcare Management, Temple University
    • Legal Scholar - Daniel Schwarcz, Associate Professor, University of Minnesota Law School
    • Senate - Committee on Banking, Housing and Urban Affairs - Subcommittee on Securities, Insurance, and Investment
    • everycrsreport.com/reports/R42038.html
  • 2011 1025 - GOV (House) - Insurance Oversight: Policy Implications for U.S. Consumers, Businesses, and Jobs, Part 2 <Part 1 is on 2011 0728>, Judy Biggert (R-IL)
    • [PDF-33p, VIDEO-?] - <Bonk: mp3, mp4] - R
    • House - Committee on Financial Services - Subcommittee on Insurance, Housing and Community Opportunity
  • 2011 1116 - GOV (House) - Insurance Oversight and Legislative Proposals, Judy Biggert (R-IL)
    • [PDF-131p - VIDEO-?]
    • Guaranty Funds
      • Written statement of the National Conference of Insurance Guaranty Funds  ...................... 96
      • Letter from the National Conference of Insurance Legislators ........ 103
      • Written statement of the National Organization of Life and Health Insurance Guaranty Association.  .............. 105
    • Daniel Schwarcz, Associate Professor, University of Minnesota Law School
    • NAIC - Joseph Torti III, Deputy Director and Superintendent of Insurance and Banking, Rhode Island Department of Business Regulation
    • (p1) - Judy Biggert (R-IL) - This is the third in a series.
      • Today, the subcommittee will examine insurance regulation and three discussion draft legislative proposals.
      • These draft proposals amend provisions in the Dodd-Frank Act in Titles I, II, and V, and specifically address: one, the authority of Federal entities to collect data from insurers; two, the FDIC’s Orderly Liquidation Authority (OLA) as it relates to insurance companies; and three, the Federal Reserve’s authority to potentially subject some insurers to heightened prudential standards
    • House Page
  • 2011 1207 - GOV (Senate) - Enhanced Supervision: A New Regime for Regulating Large, Complex Financial Institutions, Sherrod Brown (D-OH)
    • [PDF-174p, VIDEO-Senate] - <Bonk: mp3, mp4] - T
    • Senate - Committee on Banking, Housing, and Urban Affairs - Subcommittee on Financial Institutions and Consumer Protection