TIME DELAYED: THE HEARING WILL BEGIN AT 10:30 A.M. 

As Congress Debates Financial Regulatory Overhaul, JEC to Examine the Need to Close Regulatory Loopholes and Eliminate Perverse Incentives for Excessive Risk Taking

Washington D.C. – Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee (JEC,) will convene a hearing to examine how the financial sector’s so-called “dark market,” the unregulated over-the-counter market, and lightly regulated mortgage markets nearly brought down the financial sector.  The hearing entitled, “Unregulated Markets:  How Regulatory Reform Will Shine A Light in the Financial Sector,” will take place on Wednesday, December 2, 2009 at 10:30 A.M. in Room 210 of the Cannon House Office Building.   Witnesses will discuss whether the proposed regulatory changes before Congress will eliminate existing regulatory loopholes to protect taxpayers and promote economy stability in the future. 

WHAT: JEC Hearing, “Unregulated Markets: How Regulatory Reform Will Shine a Light in the Financial Sector”
WHO:   The Honorable Brooksley Born, Former Chair of the Commodity Futures Trading Commission
Dr. Robert Litan, Senior Fellow in Economic Studies at the Brookings Institution, Vice President of Research and Policy at the Ewing Marion Kauffman Foundation, and member of the Task Force on Financial Reform
Mr. James Carr, Chief Operating Officer, National Community Reinvestment Coalition 
The Honorable Robert K. Steel, former Under Secretary for Domestic Finance of the United States Treasury, chairman of the board of The Aspen Institute and a member of the Task Force on Financial Reform
WHEN:  Wednesday, December 2, 2009 at 10:30 A.M.
WHERE: Room 210 Cannon House Office Building

The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy.
 www.jec.senate.gov
#          #          #