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The Financial Services Act of 1999 : Hearings Before the Subcommittee (Classic Reprint). United States Congress

The Financial Services Act of 1999 : Hearings Before the Subcommittee (Classic Reprint)
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Author: United States Congress
Number of Pages: 212 pages
Published Date: 27 Sep 2015
Publisher: Forgotten Books
Publication Country: United States
Language: English
ISBN: 9781330193884
File Name: The.Financial.Services.Act.of.1999.Hearings.Before.the.Subcommittee.(Classic.Reprint).pdf
Download Link: The Financial Services Act of 1999 Hearings Before the Subcommittee (Classic Reprint)
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Excerpt from The Financial Services Act of 1999: Hearings Before the Subcommittee The subcommittee met, pursuant to notice, at 10:17 a.m., in room 2123, Rayburn House Office Building, Hon. Michael G. Oxley (chairman) presiding. Members present: Representatives Oxley, Gillmor, Largent, Bilbray, Ganske, Lazio, Shimkus, Wilson, Shadegg, Fossella, Bliley (ex officio), Towns, Deutsch, Stupak, Barrett, Luther, Capps, Markey, Rush, and Dingell (ex officio). Staff present: David Cavicke, majority counsel; Robert Gordon, majority counsel; Linda Dallas Rich, majority counsel; Brian McCullough, professional staff member; Robert Simison, legislative clerk; Consuela Washington, minority counsel; Bruce Gwinn, minority professional staff member; and Christian Fjeld, minority legislative intern. Mr. Oxley. The subcommittee will come to order. Today is our first of two scheduled hearings this year on H.R. 10, the Financial Services Act of 1999. For this first hearing, we are fortunate to have with us our good friend, the Chairman of the Board of Governors of the Federal Reserve System, Alan Greenspan. Chairman Greenspan will hopefully enlighten us on how financial holding companies would be regulated under H.R. 10 and describe the structural problems we still need to address. In particular, I look forward to a thorough education on operating subsidiaries and the dangers of expanding taxpayer subsidies under a new financial system. The House spoke clearly on this issue last term, rejecting two floor amendments to expand the powers of bank operating subsidiaries. But the operating subsidiary has more lives than Freddie Krueger, and I am sure it will continue to revisit us at every step in this process. I also expect to hear more about the operating subsidiary at the second hearing on May 5, to which we have invited Treasury Secretary Rubin and other financial regulators, as well as various industry representatives. H.R. 10 is a continual learning process for the members, and we appreciate the testimony of all of our witnesses. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

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